Basalt Fiber Market by Form (Continuous and Discrete), End-Use Industry (Construction & Infrastructure, Automotive & Transportation, Electrical & Electronics, Marine), Usage (Composites, Non-Composites), and Region - Global Forecast to 2024

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Date: 17-Apr-2019
No. of pages: 125
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‘’The basalt fiber market is projected to register a CAGR of 11.8%, in terms of value,between 2019 and 2024.’’

The basalt fiber market size is estimated to be USD 227 million in 2019 and is projected to reach USD 397 million by 2024, at a CAGR of 11.8% between 2019 and 2024.Basalt fibers are used in different industries such as marine, automotive &transportation, electrical & electronics, construction& infrastructure, wind energy, and others. They exhibit various properties such as non-corrosiveness, heat & fire resistance, and high mechanical strength. The superior properties offered by basalt fiber are enabling its usage in the end-use industries.

‘‘Continuous basalt fiber accounted for the largest share, in terms of value and volume, in the basalt fiber market.’’

Continuous basalt fiber dominated the global basalt fiber market in 2018. Continuous basalt fibers possess characteristics, such as superior efficiency, higher tensile strength, and excellent mechanical properties. Also, these fibers are eco-friendly, which makes them suitable for various applications, such as reinforcing nets, pipes, containers, electrical insulation materials, basalt plastic products, and others. Additionally, they offer higher strength than steel which makes them a preferred material in the construction industry. The high market share of continuous basalt fibers is attributed to its significant properties.

”The basalt fiber market in the construction & infrastructure end-use industry is expected to register the highest CAGR between 2019 and 2024.’’

The increasing use of basalt fiber in the construction & infrastructure industry is mainly due to its environmentally friendly properties, good compatibility with concrete, and easy mixing at high concentration. Basalt fiber offers higher mechanical properties that are required for construction in extreme conditions and at a much lower price compared to all other alkali-resistant fibers. Industry experts concluded that a ton of basalt rods could provide reinforcement equal to 4 tons of steel rods. All these benefits make basalt fiber product a good and economical alternative to alkali-resistant fibers, which are presently used in the market.

”The basalt fiber market in APAC is projected to register the highest CAGR, in terms of value and volume, between 2019 and 2024.”

APAC dominated the global basalt fibers market. The region has the presence of many manufacturers of basalt fibers and its products. China accounted for a major share of the global basalt fiber market and is expected to register the highest CAGR during the forecast period. The rising awareness among the Chinese manufacturers regarding basalt fiber production, and the increasing demand for environmentally friendly and high-performance materials is driving the basalt fiber market in China. Also, the low cost of raw materials coupled with less stringent government regulations are driving the market in the country.

Breakdown of profiles of primary interviews for the report on the basalt fiber market


  • By Company: Tier 1- 37%, Tier 2- 42%, and Tier 3-21%

  • By Designation: C level - 30%, Director level - 25%, and Others- 45%

  • By Region: North America - 20%, Europe - 27%, Asia Pacific -40%, MEA - 7%, and Latin America - 6%


The basalt fiber market comprises major solution providers such as KamennyVek (Russia), Mafic SA (Ireland), Zhejiang GBF Basalt Fiber Co. Ltd (China),Techno basalt-Invest LLC (Ukraine), Russian Basalt (Russia), Sudaglass Basalt Fiber Technology (US), and Isomatex (Belgium). The study includes an in-depth competitive analysis of these key players in the basalt fiber market, with their company profiles, recent developments, and key market strategies.

Research Coverage

The study covers the basalt fiber market. It aims at estimating the market size and the growth potential of this market across different segments, such as usage, form, end-use industry, and region. Porter’s Five Forces analysis and the key market dynamics, such as drivers, restraints, challenges, and opportunities, influencing the growth of the basalt fiber market have been discussed in the report. The report also provides company profiles and competitive bench marking of major players operating in the market.

Key Benefits of Buying the Report:

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall basalt fiber market and its sub segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. It will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.

Basalt Fiber Market by Form (Continuous and Discrete), End-Use Industry (Construction & Infrastructure, Automotive & Transportation, Electrical & Electronics, Marine), Usage (Composites, Non-Composites), and Region - Global Forecast to 2024

Table of Contents

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Basalt Fiber Market Segmentation
1.3.2 Years Considered for the Study
1.3.3 Currency
1.3.4 Unit Considered
1.4 Limitations
1.5 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primary Interviews
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Data Triangulation
2.4 Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Basalt Fiber Market
4.2 Basalt Fiber Market, By Region and End-Use Industry
4.3 Basalt Fiber Market, By Form
4.4 Basalt Fiber Market, By Usage Type
4.5 Basalt Fiber Market, By Country

5 Market Overview
5.1 Introduction
5.2 Evolution of Basalt Fibers
5.3 Market Segmentation
5.3.1 Basalt Fiber Market, By Usage
5.3.2 Basalt Fiber Market, By Form
5.3.3 Basalt Fiber Market, By End-Use Industry
5.4 Market Dynamics
5.4.1 Drivers
5.4.1.1 Increase in Demand for Noncorrosive Materials
5.4.1.2 Enhanced Physical, Mechanical, and Chemical Properties
5.4.1.3 Environmentally Friendly and Easily Recyclable Material
5.4.2 Restraints
5.4.2.1 Competition With Matured Products
5.4.3 Opportunities
5.4.3.1 Increase in Demand for Basalt Fiber in Europe and APAC
5.4.3.2 Growing Adoption of Environmentally Friendly and Recyclable Material
5.4.4 Challenge
5.4.4.1 Complex Manufacturing Process and High Cost Compared to E-Glass Fibers
5.4.4.2 Difficulty in Promotion of Basalt Fiber

6 Industry Trends
6.1 Introduction
6.2 Value Chain Analysis
6.3 Price Analysis
6.4 Porter’s Five Forces Analysis
6.4.1 Threat of New Entrants
6.4.2 Threat of Substitutes
6.4.3 Bargaining Power of Suppliers
6.4.4 Intensity of Competitive Rivalry
6.4.5 Bargaining Power of Buyers
6.5 Technological Advancements
6.5.1 Use of Basalt Fiber in Hybrid Fabrics

7 Macroeconomic Overview and Key Trends
7.1 Introduction
7.2 Trends and Forecast of GDP
7.3 Trends and Forecast of the Construction & Infrastructure Industry
7.4 Trends in Automotive & Transportation Industry
7.5 Trends in Wind Energy Industry

8 Basalt Fiber Market, By Usage Type
8.1 Introduction
8.2 Basalt Fiber in Composites
8.2.1 Basalt Fiber in Composites Improve the Structural Safety and Sustainability of the Construction
8.3 Basalt Fiber in Non-Composites
8.3.1 Basalt Fibers are Increasingly Used in Various Used Non-Composite Applications Such as Fabrics, Mesh, Felts, Insulation Sleeves, and Concrete Reinforcements

9 Basalt Fiber Market, By Form
9.1 Introduction
9.2 Continuous Basalt Fiber
9.2.1 Continuous Basalt Fibers Possess Superior Characteristics, Such as Superior Efficiency and Higher Tensile Strength
9.3 Discrete Basalt Fiber
9.3.1 Rapidly Growing Construction & Infrastructure and Transportation Industries are Spurring the Demand for Discrete Basalt Fibers

10 Basalt Fiber Market, By End-Use Industry
10.1 Introduction
10.2 Construction & Infrastructure
10.2.1 Basalt Fiber are Slowly Replacing Steel in the Construction Industry Due to their Unique Combination of Properties
10.3 Automotive & Transportation
10.3.1 Basalt Fiber Possess Environmentally Friendly Properties and Also Reduces the Cost of Vehicles
10.4 Electrical & Electronics
10.4.1 Basalt Fiber is Also Replacing Glass Materials in Important Electrical and Electronics Application Areas
10.5 Wind Energy
10.5.1 Basalt Fibers Do Not React With Air Or Water Leading to their Higher Demand in the Production of Wind Turbines
10.6 Marine
10.6.1 The Demand for Basalt Fiber to Build Pontoons is Increasing
10.7 Others

11 Basalt Fiber Market, By Region
11.1 Introduction
11.2 North America
11.2.1 Canada
11.2.1.1 They Proficient Aerospace Industry in Canada is Driving the Market
11.2.2 US
11.2.2.1 New Basalt Fiber Products are Offered By the Manufacturers in the US
11.3 Europe
11.3.1 Germany
11.3.1.1 Germany is the Second-Largest Market for Basalt Fiber in Europe
11.3.2 UK
11.3.2.1 UK is One of the Key Markets for Basalt Fiber
11.3.3 Belgium
11.3.3.1 Automotive & Transportation Industry is Bolstering the Demand in the Country
11.3.4 UKraine
11.3.4.1 Presence of Basalt Rock in the Neighboring Region Drives the Market in the Country
11.3.5 Russia
11.3.5.1 Russia is the Largest Market for Basalt Fiber in the European Region
11.3.6 Ireland
11.3.6.1 High Demand is Witnessed in the Construction & Infrastructure and Wind Energy Industries of the Country
11.4 APAC
11.4.1 China
11.4.1.1 China is the Fastest-Growing Market for Basalt Fiber, Globally
11.4.2 Japan
11.4.2.1 The Growing Automotive Industry is Boosting The Demand for Basalt Fibers
11.4.3 Singapore
11.4.3.1 Singapore is the Second-Largest Market in APAC
11.5 Latin America
11.5.1 Brazil
11.5.1.1 Brazil is the Largest Market for Basalt Fiber in Latin America
11.5.2 Mexico
11.5.2.1 The Growing Wind Energy Sector in the Country is Driving the Demand for Basalt Fiber
11.6 MEA
11.6.1 South Africa
11.6.1.1 South Africa is the Largest Market in MEA
11.6.2 Saudi Arabia
11.6.2.1 Saudi Arabia is the Fastest-Growing Market in MEA
11.6.3 UAE
11.6.3.1 Increasing Demand From the Construction & Infrastructure Industry is Increasing the Demand for Basalt Fiber

12 Competitive Landscape
12.1 Introduction
12.2 Competitive Leadership Mapping
12.2.1 Visionary Leaders
12.2.2 Dynamic Differentiators
12.2.3 Emerging Companies
12.2.4 Innovators
12.2.5 Strength of Product Portfolio
12.2.6 Business Strategy Excellence
12.3 Market Ranking
12.4 Competitive Scenario
12.4.1 Expansion
12.4.2 New Product Development
12.4.3 Partnership

13 Company Profiles
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
13.1 Kamenny VEK
13.2 Zhejiang GBF Basalt Fiber Co.
13.3 Mafic SA
13.4 Technobasalt-Invest LLC
13.5 Russian Basalt
13.6 ISOMATEX S.A.
13.7 INCOTELOGY GmbH
13.8 Sudaglass Basalt Fiber Technology
13.9 Shanxi Basalt Fiber Technology Co. TD
13.10 Mudanjiang Jinshi Basalt Fiber Co. Ltd
13.11 Other Companies
13.11.1 Basalt Technology UK Limited
13.11.2 Sichuan Aerospace Tuoxin Basalt Industrial Co., Ltd
13.11.3 ASA. Tec GmbH
13.11.4 Sichuan Fiberglass Group Co., Ltd.
13.11.5 Nmg Composites Co., Ltd
13.11.6 Fiberbas Construction and Building Technologies
13.11.7 Liaoning Jinshi Technology Group Co., Ltd.
13.11.8 Jiangsu Green Materials Vally New Material T&D Co., Ltd (GMV)
13.11.9 Yingkou Hongyuan Fiberglass Technology Co., Ltd.
13.11.10 Jilin Province Huayang New Composite Material Co., Ltd.
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.

14 Appendix
14.1 Discussion Guide
14.2 Knowledge Store: Marketsandmarkets Subscription Portal
14.3 Available Customizations
14.4 Related Reports
14.5 Author Details

List of Tables

Table 1 Basalt Fiber Market Size (Volume and Value), 2017–2024
Table 2 Mechanical & Physical Properties of Fibers
Table 3 Temperature Range of Fibers
Table 4 Trends and Forecast of GDP, 2017–2023 (USD Billion)
Table 5 Contribution of the Construction & Infrastructure Industry in North America, USD Billion (2015–2022)
Table 6 Contribution of the Construction & Infrastructure Industry in Europe, USD Billion (2015–2022)
Table 7 Contribution of the Construction & Infrastructure Industry in APAC, USD Billion (2015–2022)
Table 8 Contribution of the Construction & Infrastructure Industry in MEA, 2015–2022 (USD Billion)
Table 9 Contribution of the Construction & Infrastructure Industry in Latin America, USD Billion (2015–2022)
Table 10 Automotive Production, Million Units (2013–2017)
Table 11 Chemical Composition of Glass and Basalt Fibers
Table 12 Tensile Strength of Fibers
Table 13 Basalt Fiber Stiffness Properties
Table 14 Basalt Fiber Market Size, By Usage Type, 2017–2024 (USD Thousand)
Table 15 Basalt Fiber Market Size, By Usage Type, 2017–2024 (Ton)
Table 16 Basalt Fiber Market Size in Composites, By Region, 2017–2024 (USD Thousand)
Table 17 Basalt Fiber Market Size in Composites, By Region, 2017–2024 (Ton)
Table 18 Comparative Characteristics of Fibers
Table 19 Basalt Fiber Market Size in Non-Composites, By Region, 2017–2024 (USD Thousand)
Table 20 Basalt Fiber Market Size in Non-Composites, By Region, 2017–2024 (Ton)
Table 21 Basalt Fiber Market Size, By Form, 2017–2024 (USD Thousand)
Table 22 Basalt Fiber Market Size, By Form, 2017–2024 (Ton)
Table 23 Continuous Basalt Fiber Market Size, By Region, 2017–2024 (USD Thousand)
Table 24 Continuous Basalt Fiber Market Size, By Region, 2017–2024 (Ton)
Table 25 Discrete Basalt Fiber Market Size, By Region, 2017–2024 (USD Thousand)
Table 26 Discrete Basalt Fiber Market Size, By Region, 2017–2024 (Ton)
Table 27 Basalt Fiber Market Size, By End-Use Industry, 2017–2024 ( USD Thousand)
Table 28 Basalt Fiber Market Size, By End-Use Industry, 2017–2024 (Ton)
Table 29 Basalt Fiber Market Size in Construction & Infrastructure, By Region, 2017–2024 (USD Thousand)
Table 30 Basalt Fiber Market Size in Construction & Infrastructure, By Region, 2017–2024 (Ton)
Table 31 Basalt Fiber Market Size in Automotive & Transportation, By Region, 2017–2024 (USD Thousand)
Table 32 Basalt Fibers Market Size in Automotive & Transportation, By Region, 2017–2024 (Ton)
Table 33 Basalt Fiber Market Size in Electrical & Electronics, By Region, 2017–2024 (USD Thousand)
Table 34 Basalt Fiber Market Size in Electrical & Electronics, By Region, 2017–2024 (Ton)
Table 35 Basalt Fiber Market Size in Wind Energy, By Region, 2017–2024 (USD Thousand)
Table 36 Basalt Fiber Market Size in Wind Energy, By Region, 2017–2024 (Ton)
Table 37 Basalt Fiber Market Size in Marine, By Region, 2017–2024 (USD Thousand)
Table 38 Basalt Fiber Market Size in Marine, By Region, 2017–2024 (Ton)
Table 39 Basalt Fiber Market Size in Others, By Region, 2017–2024 (USD Thousand)
Table 40 Basalt Fiber Market Size in Others, By Region, 2017–2024 (Ton)
Table 41 Basalt Fiber Market Size, By Region, 2017–2024 (Ton)
Table 42 Basalt Fiber Market Size, By Region, 2017–2024 (USD Thousand)
Table 43 North America: Basalt Fiber Market Size, By Country, 2017–2024 (Ton)
Table 44 North America: Basalt Fiber Market Size, By Country, 2017–2024 (USD Thousand)
Table 45 North America: Basalt Fiber Market Size, By Usage Type, 2017–2024 (Ton)
Table 46 North America: Basalt Fiber Market Size, By Usage Type, 2017–2024 (USD Thousand)
Table 47 North America: Basalt Fiber Market Size, By Form, 2017–2024 (Ton)
Table 48 North America: Basalt Fiber Market Size, By Form, 2017–2024 (USD Thousand)
Table 49 North America: Basalt Fiber Market Size, By End-Use Industry, 2017–2024 (Ton)
Table 50 North America: Basalt Fiber Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 51 Europe: Basalt Fibermarket Size, By Country, 2017–2024 (Ton)
Table 52 Europe: Basalt Fiber Market Size, By Country, 2017–2024 (USD Thousand)
Table 53 Europe: Basalt Fiber Market Size, By Usage Type, 2017–2024 (Ton)
Table 54 Europe Basalt Fiber Market Size, By Usage Type,2017–2024 (USD Thousand)
Table 55 Europe: Basalt Fiber Market Size, By Form, 2017–2024 (Ton)
Table 56 Europe: Basalt Fiber Market Size, By Form, 2017–2024 (USD Thousand)
Table 57 Europe: Basalt Fiber Market Size, By End-Use Industry, 2017–2024 (Ton)
Table 58 Europe: Basalt Fiber Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 59 APAC: Basalt Fiber Market Size, By Country,2017–2024 (Ton)
Table 60 APAC: Basalt Fiber Market Size, By Country,2017–2024 (USD Thousand)
Table 61 APAC: Basalt Fiber Market Size, By Usage Type, 2017–2024 (Ton)
Table 62 APAC: Basalt Fiber Market Size, By Usage Type, 2017–2024 (USD Thousand)
Table 63 APAC: Basalt Fiber Market Size, By Form, 2017–2024 (Ton)
Table 64 APAC: Basalt Fiber Market Size, By Form, 2017–2024 (USD Thousand)
Table 65 APAC: Basalt Fiber Market Size, By End-Use Industry, 2017–2024 (Ton)
Table 66 APAC: Basalt Fiber Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 67 Latin America: Basalt Fiber Market Size, By Country, 2017–2024 (Ton)
Table 68 Latin America: Basalt Fiber Market Size, By Country, 2017–2024 (USD Thousand)
Table 69 Latin America: Basalt Fiber Market Size, By Usage Type, 2017–2024 (Ton)
Table 70 Latin America: Basalt Fiber Market Size, By Usage Type, 2017–2024 (USD Thousand)
Table 71 Latin America: Basalt Fiber Market Size, By Form, 2017–2024 (Ton)
Table 72 Latin America: Basalt Fiber Market Size, By Form, 2017–2024 (USD Thousand)
Table 73 Latin America: Basalt Fiber Market Size, By End-Use Industry, 2017–2024 (Ton)
Table 74 Latin America: Basalt Fiber Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 75 MEA: Basalt Fiber Market Size, By Country, 2017–2024 (Ton)
Table 76 MEA: Basalt Fiber Market Size, By Country, 2017–2024 (USD Thousand)
Table 77 MEA: Basalt Fiber Market Size, By Usage Type, 2017–2024 (Ton)
Table 78 MEA: Basalt Fiber Market Size, By Usage, 2017–2024 (USD Thousand)
Table 79 MEA: Basalt Fiber Market Size, By Form, 2017–2024 (Ton)
Table 80 MEA: Basalt Fiber Market Size, By Form, 2017–2024 (USD Thousand)
Table 81 MEA: Basalt Fiber Market Size, By End-Use Industry, 2017–2024 (Ton)
Table 82 MEA: Basalt Fiber Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 83 Expansion, 2014–2019
Table 84 New Product Development, 2014–2019
Table 85 Partnership, 2014–2019

List of Figures

Figure 1 Basalt Fiber Market: Research Design
Figure 2 Market Size Estimation Methodology: Bottom-Up Approach
Figure 3 Market Size Estimation: Top-Down Approach
Figure 4 Basalt Fiber Market: Data Triangulation
Figure 5 Automotive & Transportation Segment Accounted for the Largest Market Share in 2018
Figure 6 Continuous Basalt Fibers Accounted for the Major Market Share in 2018
Figure 7 Composites Segment Accounted for the Maximum Share of the Basalt Fiber Market in 2018
Figure 8 China is Projected to Register the Highest Cagr
Figure 9 APAC to Register the Highest Growth in Basalt Fiber Market
Figure 10 APAC to Be the Most Promising Market for Basalt Fiber
Figure 11 Construction & Infrastructure Was the Major End-Use Industry and APAC the Key Region in the Basalt Fiber Market
Figure 12 Continuous Basalt Fiber to Be the Dominating Form
Figure 13 Composites Segment Accounts for A Larger Share in the Basalt Fiber Market
Figure 14 China to Register the Highest Cagr in the Basalt Fiber Market
Figure 15 Fast Development and Commercialization of Basalt Fiber for Industry Applications
Figure 16 Basalt Fiber Market, By Usage
Figure 17 Basalt Fiber Market, By Form
Figure 18 Basalt Fiber Market, By End-Use Industry
Figure 19 Drivers, Restraints, Opportunities, and Challenges in the Basalt Fiber Market
Figure 20 Value Chain Analysis: More Value is Added During Composite Design and Composite Processing Phase
Figure 21 Basalt Fiber Market: Porter’s Five Forces Analysis
Figure 22 Trends and Forecast of GDP, 2017–2023 (USD Billion)
Figure 23 Automotive & Transportation Production in Key Countries, Million Units (2016 vs. 2017)
Figure 24 Wind Energy Installed CAPACity, Mw (2016–2017)
Figure 25 Basalt Fiber Application as Composites to Grow at A Faster Rate Between 2019 and 2024
Figure 26 APAC to Account for the Highest Market Share in the Composites Usage
Figure 27 Continuous Basalt Fiber to Grow at A Faster Rate Between 2019 and 2024
Figure 28 Continuous Basalt Fiber to Have A Higher Demand in APAC
Figure 29 Construction & Infrastructure to Be the Fastest-Growing End-Use Industry
Figure 30 APAC to Be the Leading Market in the Construction & Infrastructure End-Use Industry
Figure 31 APAC to Be the Fastest-Growing Market in the Automotive & Transportation Industry
Figure 32 APAC is the Fastest Growing Market in the Electrical & Electronics Industry
Figure 33 APAC to Be the Largest Market in Wind Energy End-Use Industry
Figure 34 North America is the Largest Market in Marine Industry
Figure 35 China to Be the Fastest-Growing Basalt Fiber Market
Figure 36 North America: Basalt Fiber Market Snapshot
Figure 37 Europe: Basalt Fiber Market Snapshot
Figure 38 APAC: Basalt Fiber Market Snapshot
Figure 39 Brazil is the Key Basalt Fiber Market in Latin America
Figure 40 South Africa is the Key Basalt Fiber Market in MEA
Figure 41 Companies Adopted Expansion as the Key Growth Strategy Between 2014 and 2019
Figure 42 Basalt Fiber Market (Global) Competitive Leadership Mapping, 2018
Figure 43 Market Ranking of Top Five Players in Basalt Fiber Market
Figure 44 Kamenny Vek: SWOT Analysis
Figure 45 Zhejiang GBF Basalt Fiber Co.: SWOT Analysis
Figure 46 Mafic SA: SWOT Analysis
Figure 47 Technobasalt-Invest LLC: SWOT Analysis

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