USD 248.9 Million
Basalt Fiber Market Size, Share, Growth Analysis, By Type (Chopped Fiber, Twisted Roving), By Form (Continuous, Discrete), By Usage (Composites, Non-Composites), By End Use, By Region - Industry Forecast 2025-2032
Report ID:
SQMIG15A2456 |
Region:
Global |
Published Date: November, 2024
Pages:
167
|Tables:
0
|Figures:
0
Basalt Fiber Market Insights
Basalt Fiber Market size was valued at USD 284.1 Million in 2023 and is poised to grow from USD 315.92 Million in 2024 to USD 564.46 Million by 2032, growing at a CAGR of 11.2% during the forecast period (2025-2032).
The building and construction, wind energy, automotive and transportation, and electrical and electronics sectors all hold large demand levels for the market. Basalt fibers offer excellent thermal stability and vibration resistance, heat and sound insulation, besides general durability. It is also recyclable and non-corrosive. Demand for sustainable, eco-friendly products is also projected to spur the basalt fiber market growth. Moreover, the drive toward sustainability and awareness of environmental factors has resulted in increased scrutiny toward industries that depend on building materials. There is a clear emphasis on finding substitute materials with lower carbon footprints. Being derived from natural volcanic rock, basalt fiber perfectly falls within these sustainability objectives and thus finds increasing application in industries such as aerospace, automotive, and construction. It is driving market expansion in the US. However, enjoying the above benefits, the basalt fiber industry is constrained by several limitations. The most important limitation is the significant initial investment that is required for building manufacturing facilities for basalt fiber. Another limitation in terms of expanding the market is that end users are not well aware of the advantages of basalt fibers over conventional materials. Technical improvement in the manufacturing process and expanding field of application, basalt fibers are expected to become a more favored alternative than competitors as long as.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
composite
Fastest Growth
non-composite
Growth Rate
11.9%
Global Basalt Fiber Market ($ Bn)
Country Share for Asia-Pacific (%)
To get more reports on the above market click here to Buy The Report
Basalt Fiber Market Segmental Analysis
Global Basalt Fiber Market is segmented by Type, Form, Usage, End Use and Region. Based on Type, the market is segmented into Chopped Fiber, Twisted Roving, Twist less Roving. Based on Form, the market is segmented into Continuous, Discrete. Based on Usage, the market is segmented into Composites, Non Composites. Based on End Use, the market is segmented into Building & Construction, Automotive & Transportation, Electrical & Electronics, Marine, Others. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Usage
As per the basalt fiber market forecast, in 2023, the composite category was the market leader with a revenue share of over 58.0%. It is expected to grow considerably between 2024 and 2031. Its use in composite applications as a reinforcing material helps achieve exceptional strength, durability, and resistance to corrosion. Preservation of their lightweight profile is achieved with the use of basalt fiber into composite constructions while providing improvements towards their structural integrity. The highly promising basalt fiber is widely used in numerous industry sectors, including automobile, aerospace, construction, and marine, as it presents the ideal solution for applications requiring superior performing materials. The reasons behind its rapidly growing application to high-performance applications are its resistance to extreme conditions and chemical degradation, thus proving to be especially useful in industries requiring reliability and endurance.
However, basalt fibers have many non-composite applications for textiles, yarns, and tapes. They serve a wide variety of functions in all sorts of applications, including reinforcement, filtration, and insulation. This material is ideal for textile, insulating, and filtering applications, as it has an excellent resistance to heat, fire, and abrasion. Further proof of the flexibility of these materials is that they are used abundantly in non-composite forms in making heat-resistant textiles for industrial protective clothing and filtration devices in high-performance and long-lasting industrial sectors. The material has a robust sustainability profile in combination with a growing need for eco-friendly materials that underpin its wide applicability in non-composite industries.
Analysis By End Use
According to the basalt fiber market analysis, the building and construction category topped with a revenue share of more than 34.0% in 2023. This rise is because wide applications of basalt fiber for the manufacture of concrete with special advantages such as being light, eco-friendly, and having strength comparable to steel are causing it. Due to improved durability, resistance to corrosion, and affordability, basalt fiber-reinforced concrete is gaining popularity. The rise of this global expansion in the building, construction, and infrastructure industries gives rise to the application of lightweight concrete. The market will continue to grow during the forecast period as basalt fiber assumes an important role in supplying high-performance sustainable materials with further expansion of urbanization and infrastructure development globally.
Contrarily, the increase in EV production and the growing digitization in companies led to the electrical and electronics and the automotive industries growing demand for basalt fiber. The automobile sector is the principal user of basalt fiber-reinforced composites in structures and parts such as body panels and chassis reinforcements along with interior trims. These materials enhance performance and improve fuel economy due to their ability to lighten the vehicle. Basalt fiber is perfect for the automobile sector as they have a strong strength-to-weight ratio, corrosion resistance, and heat resistance. In addition, with the upsurge in the rise of electric cars, it is said that this sector is going to boom due to the need for highly light yet strong material such as basalt fiber, which will compel manufacturers to expand capacity and facilities.
Global Basalt Fiber Market By Usage
To get detailed analysis on other segments, Request For Free Sample Report
Basalt Fiber Market Regional Insights
In 2023, Asia-Pacific basalt fiber market had the highest revenue share, with over 50.0%. Growing use in a range of sectors, including building and construction, wind energy, automotive, and electrical and electronics, is driving market growth in this region. The industrialization of developing countries such as China and India are also supporting market growth. The construction industry is a significant driver for market growth, as the rapid urbanization of the area increases infrastructure projects that require strong and lightweight materials such as basalt fiber for insulation and reinforcement. A focus in this region on sustainability and renewable energy sources has led to applications of basalt fiber in several areas, such as water filtration, electrical insulation, and generation of wind power. The regional basalt fiber market outlook is good. Economic conditions are good, and industrial sectors are growing. Investments in R&D are on the increase.
Infrastructural investments with demand for greener options for building purposes are predicted to set considerable growth in the North America basalt fiber industry. Basalt fiber finds greater development as an option from which governments and the commercial sector are constantly seeking greener options owing to its natural origin, high purity and lesser environmental impact. Basalt fiber is one such alternative to traditional fibers being used in environmentally sensitive building projects, as it is manufactured through a unique method devoid of any toxic emission. Its strength and durability alongside lightweight qualities have expanded appeal for numerous applications, including structural parts and concrete reinforcement, creating great growth potential for local businesses.
Global Basalt Fiber Market By Geography
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Basalt Fiber Market Dynamics
Drivers
- Sustainability and Environmental Issues
The driving force in the market is sustainability. Considering that the raw material is obtained from volcanic rock, the fiber is environmentally friendly compared to other traditional fibers such as fiberglass, which is used with the highest amount of energy for its production. Moreover, low environmental impact and no-toxicity and recyclability make it more attractive for a company looking to reduce its carbon footprint. High demand for basalt fiber is expected from across multiple industries, most particularly from automotive and construction industries, because of higher sustainability rules.
- More Infrastructure Development
The main demand for basalt fiber is boosted by an increased investment in infrastructure globally, particularly in developing countries. It is increasingly used to construct roads and reinforce concrete because of its great strength, durability, and resistance to corrosion. Fueled by the thirst of governments for durable and sustainable solutions to infrastructure, there is increasing demand for basalt fiber, which is a sustainable alternative to conventional materials.
Restraints
- High Costs of Production
Basalt fiber does boast of some major advantages, but it's clearly much more expensive to manufacture than a whole array of competing fibers such as carbon fiber or fiberglass. The specific process of producing basalt fiber requires high temperatures and energy inputs, making it less accessible in consumer-sensitized price markets. Its immense applicability can be restricted to some extent because of its very high costs of manufacturing, especially in mass-market building and automobile industries that demand maximum cost-effectiveness.
- Lack of Knowledge and Acceptance
Although it possesses numerous advantages, consumers' knowledge and understanding of the basalt fiber are still relatively weak, especially for those of more industries-related businesses such as construction and automotive. The supply networks, familiarity, and shortage of initial ideas are the main reasons many companies prefer using traditional materials such as steel and fiberglass. All this would call for more long-term benefits and performance advantages of basalt fiber, coupled with an education campaign, to overcome the obstacle.
Request Free Customization of this report to help us to meet your business objectives.
Basalt Fiber Market Competitive Landscape
The competitive landscape of the basalt fiber industry is comprised of existing and new companies who look for better production capabilities and an increase in their portfolio offerings. High stakes are placed in the industry leaders of aerospace, automotive, and construction manufacturing, because they all compete to secure that niche share of burgeoning demand for green materials. By strategic alliances and regional expansions, firms invest in state-of-the-art technology in order to reduce costs of production, improve material qualities, and strengthen their market positions.
Top Player’s Company Profile
- Kamenny Vek (Russia)
- Zhejiang GBF Basalt Fiber Co. (China)
- JFE RockFiber Corp. (Japan)
- Mafic SA (Ireland)
- Technobasalt-Invest LLC (Ukraine)
- Russian Basalt (Russia)
- ISOMATEX SA (Belgium)
- INCOTELOGY GmbH (Germany)
- Sudaglass Basalt Fiber Technology (US)
- Shanxi Basalt Fiber Technology Co., Ltd. (China)
- Mudanjiang Basalt Fiber Co. (China)
- Basaltex (Russia)
- BASTECH (China)
- Deutsche Basalt Faser GmbH (Germany)
- Fiberbas construction and building technologies (Russia)
- FINAL ADVANCED MATERIALS (US)
- Galen Ltd. (Russia)
- JiLin Tongxin Basalt Technology Co.,Ltd. (China)
- Sichuan Aerospace Tuoxin Basalt Industry Co., Ltd. (China)
- ASA.TEC GMBH (Germany)
Recent Developments
- April 2022: UK-based Technical Fibre Products (TFP) launched its latest nonwoven composite solutions at JEC World, Paris, starting today. A new polyimide veil can now be used up to over 260°C, and this will be the most temperature-stable polymer veil produced by TFP. This is significantly higher than the service maxima of polyester and PPS.
- April 2022: With Yuyo and R*Concept, Basaltex presented a completely recyclable surfboard. The surfboard is made from circular epoxy, basalt fibers, and a PET core. These basalt fibers form high-performance composite textiles. What makes them different is that, apart from being 100% recyclable through melting and repurposing, they also contain strength and impact resistance.
- June 2021: Milestone reached with the creation and testing of a new composite material solution for railway applications, based on Basalt fibers and proprietary honeycomb technology from EconCore.
Basalt Fiber Key Market Trends
- Integration in the Electric Vehicle Manufacturing: Basalt fiber is slowly gaining space as an integral input in manufacturing electric vehicles with the growing demand of these vehicles. The best fit for dropping the overall weight of EVs alongside structural integrity is basalt fiber because of its excellent high strength-to-weight properties. Basalt fiber is increasingly being used in the automobile field due to the uptake of this product by the auto manufacturers within their body panels, interior parts, and chassis reinforcements to achieve economy in vehicles and meet the sustainability targets.
- Advancements in Basalt Fiber Production: Continuous research and technical developments are enriching the process of producing basalt fiber, making the basalt fiber scalable and cost-efficient. Companies are looking at all new innovative ways for savings in manufacturing energy utilization, better quality of the fibre, and total overall expense savings. Efficiency is being pushed forward by new concepts in manufacturing processes, and as production efficiency grows, so does the market for basalt fiber, opening to a wider range of industries and uses.
Basalt Fiber Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, with growing demand for high-performance, environment-friendly materials in aerospace, automobile, and construction industries, the future prospect is huge for the basalt fiber industry. Basalt fiber is expected to meet demand for environmentally friendly solutions coupled with an ability to replace conventional fibers in critical applications on account of its durability and resistance. However, high production costs and inconsiderable knowledge of the market may inhibit its widespread adoption as short-term barriers. Still, these barriers are anticipated to be somewhat lessened as progress is made in further technical developments and infrastructural schemes are escalated. The pursuit of basalt fibers will most predicted to continue to one of the important aspects which will dictate the course of materials science within many industries as knowledge increases and methods of its production become relatively less expensive.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 248.9 Million |
| Market size value in 2031 | USD 694.5 Million |
| Growth Rate | 11.9% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Basalt Fiber Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Basalt Fiber Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Basalt Fiber Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Basalt Fiber Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Basalt Fiber Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Basalt Fiber Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
