Product Code: SR0222A222_Report
The global basalt fiber market reached a value of US$ 300.8 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 565.7 Million by 2027, exhibiting a CAGR of 10.7% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Basalt fiber refers to a form of fiber-reinforced polymer manufactured using extremely fine fibers of basalt and minerals such as pyroxene, plagioclase and olivine. It is usually processed through pultrusion, prepreg process, compression/resin molding and vacuum infusion to obtain continuous or discrete basalt fiber. These fibers are further processed to manufacture fireproof automobile and aerospace textiles, filament winding of pipes, tanks and cylinders, reinforced plastics, geogrids, tunnels and refractory bricks. In comparison to the traditionally used glass-fiber, basalt fiber exhibits superior thermal protection, durability, tensile strength, resistance to chemicals and ultraviolet (UV) radiations, low hygroscopic quotient and high adhesive capabilities.
Rapid industrialization, along with the extensive infrastructural developments across the globe, is one of the key factors driving the growth of the market. Governments of both the developing and emerging economies are using basalt fibers for commercial, residential and industrial constructions due to its high cost-effectiveness and non-corrosive properties. Furthermore, widespread adoption of discrete basalt fiber is also driving the market growth. It is extensively used as an effective substitute for steel and other fiber reinforcements to manufacture light-weight automobile and aircraft components. In line with this, rising environmental consciousness among the masses has led to an increasing preference for recyclable and eco-friendly basalt fiber, which, in turn, is creating a positive outlook for the market. Additionally, various product innovations, such as the development of basalt fiber reinforced plastic (BFRP), are acting as other growth-inducing factors. BFRP provides additional support to infrastructural constructions and minimizes the damage caused by corrosion. Other factors, including the implementation of favorable government policies to lower carbon footprints, along with extensive research and development (R&D) activities, are anticipated to drive the market further.
Key Market Segmentation:
- IMARC Group provides an analysis of the key trends in each sub-segment of the global basalt fiber market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product, type, form, method and end use industry.
Breakup by Product:
- Rebar
- Fabric
- Roving
- Chopped Strands
- Mesh and Grids
- Others
Breakup by Type:
- Composites
- Non-Composites
Breakup by Form:
Breakup by Method:
- Pultrusion
- Prepregs
- Compression Moulding
- Hand Layup
- Resin Moulding
- Vacuum Infusion
- Spray Gun
- Filament Winding
- Others
Breakup by End Use Industry:
- Automotive and Transportation
- Construction and Infrastructure
- Electrical and Electronics
- Wind Energy
- Marines
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being ASA.TEC GmbH, Basaltex NV, INCOTELOGY GmbH, Isomatex, Kamenny Vek, Mafic, Shanxi Basalt Fiber Technology Co. Ltd, sjn AG Suchmaschine der Technik, Sudaglass Fiber Technology, Technobasalt-Invest LLC and Zhejiang Hengdian Imp. & Exp. Co. Ltd. Key Questions Answered in This Report:
- How has the global basalt fiber market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global basalt fiber market?
- What are the key regional markets?
- What is the breakup of the market based on the product?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the form?
- What is the breakup of the market based on the method?
- What is the breakup of the market based on the end use industry?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global basalt fiber market and who are the key players?
- What is the degree of competition in the industry?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Basalt Fiber Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Product
- 6.1 Rebar
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Fabric
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Roving
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Chopped Strands
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
- 6.5 Mesh and Grids
- 6.5.1 Market Trends
- 6.5.2 Market Forecast
- 6.6 Others
- 6.6.1 Market Trends
- 6.6.2 Market Forecast
7 Market Breakup by Type
- 7.1 Composites
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Non-Composites
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
8 Market Breakup by Form
- 8.1 Continuous
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Discrete
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
9 Market Breakup by Method
- 9.1 Pultrusion
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Prepregs
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 9.3 Compression Moulding
- 9.3.1 Market Trends
- 9.3.2 Market Forecast
- 9.4 Hand Layup
- 9.4.1 Market Trends
- 9.4.2 Market Forecast
- 9.5 Resin Moulding
- 9.5.1 Market Trends
- 9.5.2 Market Forecast
- 9.6 Vacuum Infusion
- 9.6.1 Market Trends
- 9.6.2 Market Forecast
- 9.7 Spray Gun
- 9.7.1 Market Trends
- 9.7.2 Market Forecast
- 9.8 Filament Winding
- 9.8.1 Market Trends
- 9.8.2 Market Forecast
- 9.9 Others
- 9.9.1 Market Trends
- 9.9.2 Market Forecast
10 Market Breakup by End Use Industry
- 10.1 Automotive and Transportation
- 10.1.1 Market Trends
- 10.1.2 Market Forecast
- 10.2 Construction and Infrastructure
- 10.2.1 Market Trends
- 10.2.2 Market Forecast
- 10.3 Electrical and Electronics
- 10.3.1 Market Trends
- 10.3.2 Market Forecast
- 10.4 Wind Energy
- 10.4.1 Market Trends
- 10.4.2 Market Forecast
- 10.5 Marines
- 10.5.1 Market Trends
- 10.5.2 Market Forecast
- 10.6 Others
- 10.6.1 Market Trends
- 10.6.2 Market Forecast
11 Market Breakup by Region
- 11.1 North America
- 11.1.1 United States
- 11.1.1.1 Market Trends
- 11.1.1.2 Market Forecast
- 11.1.2 Canada
- 11.1.2.1 Market Trends
- 11.1.2.2 Market Forecast
- 11.2 Asia Pacific
- 11.2.1 China
- 11.2.1.1 Market Trends
- 11.2.1.2 Market Forecast
- 11.2.2 Japan
- 11.2.2.1 Market Trends
- 11.2.2.2 Market Forecast
- 11.2.3 India
- 11.2.3.1 Market Trends
- 11.2.3.2 Market Forecast
- 11.2.4 South Korea
- 11.2.4.1 Market Trends
- 11.2.4.2 Market Forecast
- 11.2.5 Australia
- 11.2.5.1 Market Trends
- 11.2.5.2 Market Forecast
- 11.2.6 Indonesia
- 11.2.6.1 Market Trends
- 11.2.6.2 Market Forecast
- 11.2.7 Others
- 11.2.7.1 Market Trends
- 11.2.7.2 Market Forecast
- 11.3 Europe
- 11.3.1 Germany
- 11.3.1.1 Market Trends
- 11.3.1.2 Market Forecast
- 11.3.2 France
- 11.3.2.1 Market Trends
- 11.3.2.2 Market Forecast
- 11.3.3 United Kingdom
- 11.3.3.1 Market Trends
- 11.3.3.2 Market Forecast
- 11.3.4 Italy
- 11.3.4.1 Market Trends
- 11.3.4.2 Market Forecast
- 11.3.5 Spain
- 11.3.5.1 Market Trends
- 11.3.5.2 Market Forecast
- 11.3.6 Russia
- 11.3.6.1 Market Trends
- 11.3.6.2 Market Forecast
- 11.3.7 Others
- 11.3.7.1 Market Trends
- 11.3.7.2 Market Forecast
- 11.4 Latin America
- 11.4.1 Brazil
- 11.4.1.1 Market Trends
- 11.4.1.2 Market Forecast
- 11.4.2 Mexico
- 11.4.2.1 Market Trends
- 11.4.2.2 Market Forecast
- 11.4.3 Others
- 11.4.3.1 Market Trends
- 11.4.3.2 Market Forecast
- 11.5 Middle East and Africa
- 11.5.1 Market Trends
- 11.5.2 Market Breakup by Country
- 11.5.3 Market Forecast
12 SWOT Analysis
- 12.1 Overview
- 12.2 Strengths
- 12.3 Weaknesses
- 12.4 Opportunities
- 12.5 Threats
13 Value Chain Analysis
14 Porters Five Forces Analysis
- 14.1 Overview
- 14.2 Bargaining Power of Buyers
- 14.3 Bargaining Power of Suppliers
- 14.4 Degree of Competition
- 14.5 Threat of New Entrants
- 14.6 Threat of Substitutes
15 Price Analysis
16 Competitive Landscape
- 16.1 Market Structure
- 16.2 Key Players
- 16.3 Profiles of Key Players
- 16.3.1 ASA.TEC GmbH
- 16.3.1.1 Company Overview
- 16.3.1.2 Product Portfolio
- 16.3.1.3 Financials
- 16.3.2 Basaltex NV
- 16.3.2.1 Company Overview
- 16.3.2.2 Product Portfolio
- 16.3.2.3 Financials
- 16.3.3 INCOTELOGY GmbH
- 16.3.3.1 Company Overview
- 16.3.3.2 Product Portfolio
- 16.3.3.3 Financials
- 16.3.4 Isomatex
- 16.3.4.1 Company Overview
- 16.3.4.2 Product Portfolio
- 16.3.5 Kamenny Vek
- 16.3.5.1 Company Overview
- 16.3.5.2 Product Portfolio
- 16.3.6 Mafic
- 16.3.6.1 Company Overview
- 16.3.6.2 Product Portfolio
- 16.3.7 Shanxi Basalt Fiber Technology Co. Ltd.
- 16.3.7.1 Company Overview
- 16.3.7.2 Product Portfolio
- 16.3.8 sjn AG Suchmaschine der Technik
- 16.3.8.1 Company Overview
- 16.3.8.2 Product Portfolio
- 16.3.9 Sudaglass Fiber Technology
- 16.3.9.1 Company Overview
- 16.3.9.2 Product Portfolio
- 16.3.10 Technobasalt-Invest LLC
- 16.3.10.1 Company Overview
- 16.3.10.2 Product Portfolio
- 16.3.11 Zhejiang Hengdian Imp. & Exp. Co. Ltd.
- 16.3.11.1 Company Overview
- 16.3.11.2 Product Portfolio