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Basalt Fiber Market By Product Type, By Usage, By End User, and Region Forecast 2019-2030
Basalt Fiber Market By Product Type, By Usage, By End User, and Region Forecast 2019-2030
Basalt Fiber Market size was valued at US$ 125.3 million in 2023 and is poised to grow at a significant CAGR of 12.8% from 2024-2030. Basalt fiber is mentioned as a form of fiber-reinforced polymer production using enormously fine fibers of basalt and minerals such as plagioclase, pyroxene, and olivine. It is generally processed through pultrusion, prepreg process, compression resin molding, and vacuum infusion to find continuous or discrete basalt fiber. The basalt fiber market is primarily growing due to the rise in demand from applications from automotive & transportation, construction & infrastructure, wind energy, electrical & electronics, and industries to making fireproof automobile and aerospace textiles, filament winding of pipes, tanks, and cylinders, reinforced bioplastics, tunnels geogrids, and refractory bricks. The significant properties of basalt fibers such as thermal stability, sound insulation, heat, vibration, resistance, non-corrosiveness, and durability also propel the market demand.
Furthermore, the growing adoption of environmentally and easily recyclable materials is a major market growth opportunity for basalt fiber. However, competition with matured products such as E-glass is restraining the market growth. However, during COVID-19, with certain restrictions, basalt fiber market demand had negatively affected by reduced from various industries globally. Construction & infrastructure, and automotive & transportation being the main consumers of basalt fiber have recorded the adverse and abrupt consequences of the pandemic in 2020. With recuperating end-use industries, the demand for basalt fiber is expected to display significant growth during the forecasted years.
Study Period
2024-30Base Year
2023CAGR
12.8%Largest Market
EuropeFastest Growing Market
Asia Pacific
The basalt fiber Market is primarily driven by the rising demand for basalt fibers as a reinforcing substantial for the construction of roads, bridges, and pavements. Governmental bodies expenses on infrastructure and industrial development have also pushed the demand for basalt fiber products. With an escalation in population day by day rising the demand for roads and bridges, is consequently would expect to boost the market growth over the forecasted period.
However, the Basalt Fiber market is constrained by the limited availability of raw materials, initial set up higher cost. This market will create an attractive opportunity through the technological advancement of products in the current time as well as in upcoming years.
Global Basalt fiber market demand is driving in this region owing to intensifying demand for non-composites, in terms of usage type, in nations like Germany, and the United Kingdom.
Europe is assured to create opportunities for the key players of the basalt fiber market due to the investment, advancement, and continuous development of different end-use productions such as automotive, Aerospace, Defense, etc. This will for sure lead the extensive growth in the basalt fiber market in the European region in upcoming years.
The Asia Pacific region also witnessed progressive growth in the forecasted period owing to plentiful basalt fiber players in East Asia Region and with time demand for basalt fibers in Japan and South Korea is increasing.
Moreover, Asia Pacific regions are putting huge investments in the basalt fiber market is expected to impel the market growth in the coming next few years.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-30 |
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Market Size in 2023 |
US$ 125.3 million |
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Market CAGR |
12.8% |
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By Product Type |
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By Usage |
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By End User |
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The global basalt fiber market size was valued at US$ 125.3 million in 2023 and is expected to grow at a CAGR of 12.8% from 2024 to 2030.
The key players of basalt fiber market are Sudaglass Fiber Technology, Mafic SA, JiangSu Tianlong Continuous Basalt Fuber Co. Ltd, Zhejiang GBF Basalt Fiber Co., Ltd (GBF), Kamenny Vek, Shanxi Basalt Fibre Technology Co., Ltd, Isomatex SA
Asia Pacific is the fastest-growing region for the basalt fiber market
| 1.Executive Summary |
| 2.Global Basalt Fiber Market Introduction |
| 2.1.Global Basalt Fiber Market - Taxonomy |
| 2.2.Global Basalt Fiber Market - Definitions |
| 2.2.1. Product Type |
| 2.2.2.Usage |
| 2.2.3.End User |
| 2.2.4.Region |
| 3.Global Basalt Fiber Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Basalt Fiber Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Basalt Fiber Market By Product Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Roving |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Fabric |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Mesh and Grids |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Chopped Strands |
| 5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 5.5. Others |
| 5.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.5.3. Market Opportunity Analysis |
| 6.Global Basalt Fiber Market By Usage, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Composites |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Non-Composites |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 7.Global Basalt Fiber Market By End User, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. Automotive & Transportation |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Electrical & Electronics |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Marine |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Construction & Infrastructure |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Wind Energy |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 7.6. Others |
| 7.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.6.3. Market Opportunity Analysis |
| 8.Global Basalt Fiber Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia Pacific (APAC) |
| 8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Middle East and Africa (MEA) |
| 8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Latin America |
| 8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 9.North America Basalt Fiber Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Roving |
| 9.1.2.Fabric |
| 9.1.3.Mesh and Grids |
| 9.1.4.Chopped Strands |
| 9.1.5.Others |
| 9.2. Usage Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Composites |
| 9.2.2.Non-Composites |
| 9.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Automotive & Transportation |
| 9.3.2.Electrical & Electronics |
| 9.3.3.Marine |
| 9.3.4.Construction & Infrastructure |
| 9.3.5.Wind Energy |
| 9.3.6.Others |
| 9.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.4.1.United States of America (USA) |
| 9.4.2.Canada |
| 10.Europe Basalt Fiber Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Roving |
| 10.1.2.Fabric |
| 10.1.3.Mesh and Grids |
| 10.1.4.Chopped Strands |
| 10.1.5.Others |
| 10.2. Usage Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Composites |
| 10.2.2.Non-Composites |
| 10.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.Automotive & Transportation |
| 10.3.2.Electrical & Electronics |
| 10.3.3.Marine |
| 10.3.4.Construction & Infrastructure |
| 10.3.5.Wind Energy |
| 10.3.6.Others |
| 10.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.Germany |
| 10.4.2.France |
| 10.4.3.Italy |
| 10.4.4.United Kingdom (UK) |
| 10.4.5.Spain |
| 11.Asia Pacific (APAC) Basalt Fiber Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Roving |
| 11.1.2.Fabric |
| 11.1.3.Mesh and Grids |
| 11.1.4.Chopped Strands |
| 11.1.5.Others |
| 11.2. Usage Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Composites |
| 11.2.2.Non-Composites |
| 11.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.Automotive & Transportation |
| 11.3.2.Electrical & Electronics |
| 11.3.3.Marine |
| 11.3.4.Construction & Infrastructure |
| 11.3.5.Wind Energy |
| 11.3.6.Others |
| 11.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.China |
| 11.4.2.India |
| 11.4.3.Australia and New Zealand (ANZ) |
| 11.4.4.Japan |
| 11.4.5.Rest of APAC |
| 12.Middle East and Africa (MEA) Basalt Fiber Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Roving |
| 12.1.2.Fabric |
| 12.1.3.Mesh and Grids |
| 12.1.4.Chopped Strands |
| 12.1.5.Others |
| 12.2. Usage Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Composites |
| 12.2.2.Non-Composites |
| 12.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Automotive & Transportation |
| 12.3.2.Electrical & Electronics |
| 12.3.3.Marine |
| 12.3.4.Construction & Infrastructure |
| 12.3.5.Wind Energy |
| 12.3.6.Others |
| 12.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.GCC Countries |
| 12.4.2.South Africa |
| 12.4.3.Rest of MEA |
| 13.Latin America Basalt Fiber Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 13.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.Roving |
| 13.1.2.Fabric |
| 13.1.3.Mesh and Grids |
| 13.1.4.Chopped Strands |
| 13.1.5.Others |
| 13.2. Usage Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.Composites |
| 13.2.2.Non-Composites |
| 13.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.Automotive & Transportation |
| 13.3.2.Electrical & Electronics |
| 13.3.3.Marine |
| 13.3.4.Construction & Infrastructure |
| 13.3.5.Wind Energy |
| 13.3.6.Others |
| 13.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.Brazil |
| 13.4.2.Mexico |
| 13.4.3.Rest of LA |
| 14. Competition Landscape |
| 14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 14.2.1.BASALTEX NV |
| 14.2.2.TECHNOBASALT-INVEST LLC |
| 14.2.3.Sudaglass Fiber Technology |
| 14.2.4.Mafic SA |
| 14.2.5.JiangSu Tianlong Continuous Basalt Fuber Co. Ltd |
| 14.2.6.Zhejiang GBF Basalt Fiber Co., Ltd (GBF) |
| 14.2.7.Kamenny Vek |
| 14.2.8.Shanxi Basalt Fibre Technology Co., Ltd |
| 14.2.9.Isomatex SA |
| 15. Research Methodology |
| 16. Appendix and Abbreviations |
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.