Basalt Fiber Market By Product Type (Roving, Fabric, Mesh and Grids, Chopped Strands, and Others), By Usage (Composites, and Non-Composites), By End User (Automotive & Transportation, Electrical & Electronics, Marine, Construction & Infrastructure, Wind Energy, and Others), and Geography  

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Basalt Fiber Market size was valued at USD 125.3 million in 2023 and is poised to grow at a significant CAGR of 12.8% over 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. 

Basalt Fiber Market Recent Key Developments:
  • In April 2021, Kameny Vek has launched three new products consisting of Basalt direct roving 22 microns 2400 tex, basalt assembled roving 18micron 3000 tex, and basalt assembled roving 18 microns 4800, with its market expanded.

Basalt Fiber Market Summary

Study Period

2024-30

Base Year

2023

CAGR

12.8%

Largest Market

Europe

Fastest Growing Market

Asia Pacific

Basalt Fiber Market Dynamics

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.

Basalt Fiber Market Segmentation

By Product Type

  • Roving
  • Fabric
  • Mesh and Grids
  • Chopped Strands
  • Others

By Usage

  • Composites
  • Non-Composites

By End User

  • Automotive & Transportation
  • Electrical & Electronics
  • Marine
  • Construction & Infrastructure
  • Wind Energy
  • Others

Frequently Asked Questions

The basalt fiber market is projected to expand at a CAGR of 12.8% during the forecast period

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

Key Features of the Report

  • The basalt fiber market report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
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 
  • BASALTEX NV
  • TECHNOBASALT-INVEST LLC
  • Sudaglass Fiber Technology
  • Mafic SA
  • JiangSu Tianlong Continuous Basalt Fuber Co. Ltd
  • Zhejiang GBF Basalt Fiber Co., Ltd 
  • Kamenny Vek
  • Shanxi Basalt Fibre Technology Co., Ltd
  • Isomatex SA

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