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Basalt Fiber Reinforced Polymer (BFRP) Market Trends

  • Report ID: GMI10023
  • Published Date: Jun 2024
  • Report Format: PDF

Basalt Fiber Reinforced Polymer Market Trends

BFRP materials are gaining traction in the construction industry due to their superior properties such as high tensile strength, corrosion resistance, and durability. Construction companies are increasingly using BFRP composites for applications such as rebars, building facades, and structural reinforcements to enhance the lifespan and sustainability of infrastructure projects. For instance, in October 2023, Composite Technology stated that the use of FRP rebars, including BFRP, has been gaining traction globally, with leading adopters including the U.S., Canada, Japan, and several European countries.
 

FRP rebars are particularly well-suited for infrastructure projects in coastal regions or areas prone to chemical exposure, where their corrosion resistance is a major advantage. BFRP composites are used to strengthen concrete elements, enhance load-bearing capacity, and reduce seismic risks in coastal regions and areas prone to high temperatures or freeze-thaw cycles. BFRP contributes to lightweight construction practices, enabling structures with reduced dead-loads and easier handling and installation, leading to cost and time savings.
 

BFRP materials are increasingly being explored for applications in renewable energy infrastructure, such as wind turbine blades and solar panel frames, due to their lightweight and durable properties. A renewable energy company recently commissioned a wind farm with turbine blades reinforced with BFRP composites, demonstrating their potential to improve energy efficiency and reduce maintenance requirements in renewable energy installations. BFRP materials offer greater flexibility in design compared to traditional materials, allowing for the optimization of structural components to maximize energy efficiency. Manufacturers can tailor the properties of BFRP composites to meet specific performance requirements, such as stiffness, flexibility, and fatigue resistance, thereby enabling the development of more efficient and durable renewable energy systems.
 

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Global basalt fiber reinforced polymer industry was valued at USD 195 million in 2023 and is anticipated to register over 6.1% CAGR between 2024 and 2032, driven by consistent advancements in manufacturing technologies.

The building and construction segment in the basalt fiber reinforced polymer (BFRP) market is expected to reach USD 165 million by 2032 due to the ease of storage, longer shelf life, and simple preparation of BFRP, catering to busy consumers seeking quick and nutritious breakfast.

North America market held 30% revenue share in 2023 due to government-driven infrastructure modernization, stringent sustainability standards, and innovative manufacturing technologies.

Basaltex, Kamenny Vek, Technobasalt-Invest LLC, Pultrall, Arab Basalt Fiber Company, Beyond Materials Group, and Kodiak BFRP.

Basalt Fiber Reinforced Polymer Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 18
  • Tables & Figures: 260
  • Countries covered: 21
  • Pages: 210
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