Basalt Fiber Market Overview
Basalt Fiber Market accounted for 316.2 million in 2024 and is estimated to be US$ 607.9 million by 2034 and is anticipated to register a CAGR of 7.40%.
Basalt is hard and black volcanic rock. It is the most common type of rock present in Earth’s crust. Basalt is dark and heavy volcanic rock. Basalt Fibers are obtained naturally. Basalt fibers can be produced from melted basalt stones. Staple fibers and filaments are two different kinds of basalt fibers. Basalt is biodegradable. Basalt fibers are used in improving hardened properties of concrete. Basalt fibers helps in influencing corresponding fresh properties of concrete. Basalt fibers are good construction material due to its excellent properties like high elastic strength, high modulus of elasticity, corrosion resistance, ease of handling, extended operating temperature range and high temperature resistance. Basalt fibers are environmentally sustainable product to reduce carbon footprint. Basalt is waterproof as it has high absorption rate. Basalt fibers are doesn’t get rusted as they are chemical & corrosion resistant to chemicals, salt ions, & alkalinity inherent in concrete. Basalt crust is thin, dark and heavy. Basalt is used in building materials like tiles, bricks, sculptures, foundation, within stonewalls for rail tracks and thermal purposes. Basalt is igneous rock, origin from volcanic with porphyritic structure, mafic chemical composition having dark gray to black color due to high content of dark colored pyroxene minerals and augite. Basalt fibers are cheaper than carbon fibers but more expensive than E-glass fibers. Basalt fibers are non-hazardous, and non-toxic. Basalt fibers are made from basalt rock composed of olivine minerals, pyroxene and plagioclase. Advanced basalt fiber is produced by using high quality volcanic rock which provides higher resistance to alkali and acid. Beneficial properties and wide applications has given positive impact on Basalt Fiber market growth.
|
Attributes |
Details |
|
Basalt Fiber Market Value (2024) |
US$ 316.2 Mn |
|
Basalt Fiber Market Projected Value (2034) |
US$ 607.9 Mn |
|
Basalt Fiber Market CAGR (2024 – 2034) |
7.40% |
Basalt Fiber Market Dynamics
Rise in industrialization, construction and rate of urbanization
Rise in industrialization and rate of urbanization is one of the leading factors for the Basalt Fiber Market growth. Urbanization has given rise in residential areas, construction of buildings, growth in industries, etc. Industrialization is growing rapidly due to urbanization to fulfill individual needs. Basalt is used in tubes, pipe fittings, bars, internal heat & sound solution of walls, floors, fire protection structures, chimneys, frame walls, tanks and boiler shells. Basalt fiber has strong applications in construction materials. Rapid urbanization has given rise in construction like residential buildings, offices, etc. Use of basalt fiber in construction material, industries is growing due to its beneficial properties like chemical resistance, acid-alkali resistance, non-conductive, good mechanical properties, high wave permeability, excellent electrical properties and excellent insulation performance and sound insulation. According to data published by United Nations in 2018, about 55% of the world’s population resided in urban areas, and it is projected that this percentage will increase over the forecast period. For instance, in 2022, industrialization in Tamil Nadu along with Kerala has relatively developed the path of industrialization with higher levels of development and lower levels of poverty compared to other states with development of dynamic manufacturing industries which includes, pharmaceuticals, automobiles, auto components, chemicals, plastics, garments, engineering, leather products, textile products, etc. However, the growth in industrialization and population in urban areas boosts the demand for Basalt Fiber market.
Rise in automotive industries
Rise in automotive industries has become the major factor in target market growth. Basalt fiber has opened up new world of possibilities in designing of automotive parts. Basalt fiber based materials heat & sound insulating materials, composite materials reinforced with explosives, car interiors, heat & sound insulation of engines, silencers, anticorrosive & protective coatings, etc. has become one of the most promising materials for use in automotive industries. Rise in purchasing of vehicles has given rise in automotive industries. Use of basalt fiber in automotive industries has boost the target market growth. For instance, in August 2022, about 30% Car dispatches up in India. Industry determines the passenger vehicles which has increased 29-31% to 335,000-340,000 units in August. The fastest growth was registered in this year. However, the demand for vehicles has increased growth in automotive industries which leads to rise in Basalt Fiber Market.
Restrains:
However, there are no any disadvantages as it occurs naturally and non-toxic but fiber made from basalt is most expensive than E-glass which may somewhat restrain the basalt fiber market growth.
Basalt Fiber Market Segmentation
Basalt Fiber Market is segmented based on type, form, application, and region.
Type Insight
On the basis of Type Basalt Fiber Market is segmented into Composites, Non-Composites.
Form Insights
On the basis of Form Basalt Fiber Market is segmented into Discrete, Continuous.
Application Insights
On the basis of Application Basalt Fiber Market is segmented into Marine, Building & Construction, Automotive, Aerospace & Defense, Electronics, and others.
Regional Insights:
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
On region the Basalt Fiber Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific market is estimated to witness a significantly high revenue share over the forecast period, owing to growing population, especially in countries such as Europe and Asia Pacific, and technological advancements. Moreover, rise in industrialization like automotive, building and construction, energy generation, rapid urbanization and rising demand for basalt in industries is anticipated to increase demand for Basalt Fiber in the region.
Report Scope:
|
Attribute |
Details |
|
Base year for estimation |
2023 |
|
Forecast period |
2024 – 2034 |
|
Market representation |
Revenue in USD Million & CAGR from 2024 to 2034 |
|
Market Segmentation |
By Type - Composites, Non-Composites By Form - Discrete, Continuous By Application - Marine, Building & Construction, Automotive, Aerospace & Defense, Electronics, and others
|
|
Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
|
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study, has segmented the Basalt Fiber Market report based on type, form, application, and region:
Basalt Fiber Market, By Type:
- Composites
- Non-Composites
Basalt Fiber Market, By Form:
- Discrete
- Continuous
Basalt Fiber Market, By Application:
- Marine
- Building & Construction
- Automotive
- Aerospace & Defense
- Electronics
- Others
Basalt Fiber Market Market, By Region:
-
-
- North America
-
- U.S.
- Canada
-
- Europe
-
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
-
- Asia Pacific
-
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
-
- Latin America
-
- Brazil
- Mexico
- Rest of Latin America
-
- Middle East & Africa
-
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
-
- North America
-
Basalt Fiber Market Key Players
The key players operating the Basalt Fiber Market includes,
Kamenny Vek
It is the world’s leading manufacturer of continuous basalt fiber and basalt fiber products in mesh, roving, fabric, chopped strand, twisted yarn for construction and others.
Technobasalt-Invest LLC.
It is the leading international manufacturer of fiber, basalt roving and rebar.
Mafic SA
It is the manufacturer of advanced basalt fiber reinforcement.
ISOMATEX
It is the global leading producer of enhanced volcanic rock filaments for concrete reinforcements, gas & propellant tanks, aerospace applications, oil pipelines, bullet-proof materials and others.
Sudaglass Fiber Technology
It is the provider of basalt fabrics and basalt fibers. It also offers products like geo mesh, fabrics, mat felt, roving, fabric strands and others.
Jiangsu Green Materials Vally New Material T&D Co.
It is the high-tech company specialized in manufacturing, research & development, technical assessment and marketing of high-performance basalt fibers and composites.
Hengdian Group
It is the manufacturer of glass fiber, basalt fiber and other composites.
Basaltex NV
It offers high quality basalt fiber, multiaxial basalt fabrics, basalt fabrics, hybrid fabrics with basalt, meshes, needled felts, thermoplastic sheets and others.
Mokwheel
It offers high quality, economical, versatile and fun electric bikes, basalt, mountain bike, e bike, and others.
Basalt Fiber Market Key Issues Addressed
Recent Development:
- In June 2022, Mokwheel has launched Basalt which is the world’s first power station and Ebike Fusion with latest technology and innovative features. Newly launched Mokwheel Basalt has become portable power station that offers remarkable riding adventures. It also helps in recharging their devices directly from bike as basalt is compatible with solar charging for restoring bike battery with sunlight. Mokwheel Basalt has also enabled users for conquering steepest hills up to 20 degree at all times by ensuring maximum comfort.
- In June 2021, Basaltex NV has revealed basalt fiber milestone for use in rail carriage interiors. Testing & development of basalt fiber, rPETcombo, and bioresin has achieved fire resistance, rigidity and lightweight properties which has meet railway application standards comprising basalt fiber with EconCore’s patented honeycomb technology.
Basalt Fiber Market Company Profile
- Mokwheel *
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Kamenny Vek
- Technobasalt-Invest LLC.
- Mafic SA
- ISOMATEX
- Sudaglass Fiber Technology
- Jiangsu Green Materials Vally New Material T&D Co.
- Hengdian Group
- Basaltex NV*
“*” marked represents similar segmentation in other categories in the respective section
Few Other Promising Reports:
Basalt Fiber Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Purview
- Executive Summary
- Key Findings—Global Outlook for medical carts Strategies
- Key Questions this Study will Answer
- Market Snippet, By Type
- Market Snippet, By Form
- Market Snippet, By Application
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restrains
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Basalt Fiber Market, By Type
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Composites
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2022 – 2032
- Non-Composites
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Basalt Fiber Market, By Form, 2022 – 2032, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Discrete
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2022 – 2032
- Continuous
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Basalt Fiber Market, By Application, 2022 – 2032, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Marine
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2022 – 2032
- Building & Construction
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2022 – 2032
- Automotive
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2022 – 2032
- Aerospace & Defense
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2022 – 2032
- Electronics
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2022 – 2032
- Others
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Basalt Fiber Market, By Region, 2022 – 2032, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Regional Trends
- North America
- Market Size and Forecast (US$ Mn), By Type, 2022 – 2032
- Market Size and Forecast (US$ Mn), By Form, 2022 – 2032
- Market Size and Forecast (US$ Mn), By Application, 2022 – 2032
- Market Size and Forecast (US$ Mn), By Country, 2022 – 2032
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Mn), By Type, 2022 – 2032
- Market Size and Forecast (US$ Mn), By Form, 2022 – 2032
- Market Size and Forecast (US$ Mn), By Application, 2022 – 2032
- Market Size and Forecast (US$ Mn), By Country, 2022 – 2032
- UK
- France
- Germany
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Mn), By Type, 2022 – 2032
- Market Size and Forecast (US$ Mn), By Form, 2022 – 2032
- Market Size and Forecast (US$ Mn), By Application, 2022 – 2032
- Market Size and Forecast (US$ Mn), By Country, 2022 – 2032
- India
- Japan
- South Korea
- China
- Rest of Asia Pacific
- Overview
-
- Latin America
- Market Size and Forecast (US$ Mn), By Type, 2022 – 2032
- Market Size and Forecast (US$ Mn), By Form, 2022 – 2032
- Market Size and Forecast (US$ Mn), By Application, 2022 – 2032
- Market Size and Forecast (US$ Mn), By Country, 2022 – 2032
- Latin America
-
-
-
- Brazil
- Mexico
- Rest of Latin America
-
- Middle East & Africa
- Market Size and Forecast (US$ Mn), By Type, 2022 – 2032
- Market Size and Forecast (US$ Mn), By Form, 2022 – 2032
- Market Size and Forecast (US$ Mn), By Application, 2022 – 2032
- Market Size and Forecast (US$ Mn), By Country, 2022 – 2032
-
-
-
-
- GCC
- Israel
- South Africa
- Rest of Middle East
-
-
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
- Kamenny Vek
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Technobasalt-Invest LLC.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Mafic SA
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- ISOMATEX
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Sudaglass Fiber Technology
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Jiangsu Green Materials Vally New Material T&D Co.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Hengdian Group
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Basaltex NV
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Mokwheel
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- The Last Word
- Future Impact
- About Us
- Contact
FAQs
The Basalt Fiber Market is segmented into type, form, application, and region.
Basalt Fiber Market is driven by factors like rise in industrialization, construction, rate of urbanization, and rise in automotive industries.
By region, the Basalt Fiber market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific market is estimated to witness a significantly high revenue share over the forecast period, owing to growing population, especially in countries such as Europe and Asia Pacific, and technological advancements.
The key players operating the Basalt Fiber Market includes, Kamenny Vek, Technobasalt-Invest LLC., Mafic SA, ISOMATEX, Sudaglass Fiber Technology, Jiangsu Green Materials Vally New Material T&D Co., Hengdian Group, Basaltex NV, Mokwheel, and others.