The basalt fiber market was valued at US$ 216.00 million in 2020 and is projected to reach US$ 427.14 million by 2028; it is expected to register a CAGR of 9.0% from 2021 to 2028.
Basalt fiber possesses similar chemical properties to glass fibers but have better physicochemical properties than glass fibers. The basalt fiber market is anticipated to witness high growth due to its demand from end-use industries such as automotive, marine, building & construction, and electronics. Increasing construction activities in several regions due to growth in population, growing income, and government initiatives in various economies to develop better infrastructure is likely to boost the growth of the basalt fiber market. However, the inconsistent raw material properties are among the factors restraining the basalt fiber market growth.
In 2020, Asia Pacific accounted for the largest share in the global basalt fiber market. Asia Pacific continent comprises several developing and developed economies such as India, China, Japan, South Korea, and Australia. Emerging countries are witnessing an upsurge in industrialization and urbanization activities. Growth in construction projects in countries such as India and China and growing investments in infrastructure activities, such as the new construction of highways, railways, underground metro lines, and pavement linings, are predicted to bolster the basalt fiber market in the region.
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Basalt Fibers Market: Strategic Insights
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Basalt Fibers Market: Strategic Insights
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Impact of COVID-19 Pandemic on Basalt Fiber Market
The ongoing pandemic has drastically altered the status of the chemical and materials sector and negatively impacted the growth of the basalt fiber market.The implementation of measures to combat the spread of the virus has impacted the growth of several industrial sectors. Industries such as construction, automotive, chemical, and electronics have been impacted by the sudden distortion in operational efficiencies and disruptions in the value chains attributable to the sudden closure of national and international borders. The significant decline in the growth of several industrial sectors severely impacted the demand for basalt fibers in the global market. However, as the economies are planning to revive their operations, the demand for basalt fiber is expected to rise globally. The expanding demand for basalt fibers in various industries such as construction, automotive, chemical, electronics, and aerospace along with significant investments by prominent manufacturers is expected to drive the growth for basalt fibers.
Market Insights
Wide Applications of Basalt Fibers in Various End-Use Industries to Drive its Market Growth
Basalt fibers have a wide scope of applications in various end-use industries, such as construction, automotive, electrical and electronics, chemical, aerospace, and marine. In construction, chopped basalt strands are used to increase cracking resistance of cement panels. Due to basalt fiber’s unique chemical stability in extreme conditions, they can be used in many concrete structures, such as bridges, tunnels, dams, and floors. Basalt fibers are used in the chemical industry in the production of chemical-resistant pipes, protective coatings, storage tanks for corrosive liquids, chemical fertilizers, acids, toxic substances, etc. As the application of basalt fibers are deepening, and the market demand for basalt fiber is increasing at a faster rate.Product Insights
Based on product, the global basalt fiber market is segmented into roving, chopped strand, twisted yarn, fabrics and tapes, and others. The roving segment held the largest share in the global basalt fiber market in 2020. Basalt roving is a bundle of continuous unidirectional complex basalt fibers. Roving has resistance to aggressive environments, high natural strength, long service life, and superior electrical insulation properties. Based on its technical characteristics, basalt roving surpasses E-glass and S-glass in numerous respects. Basalt roving is extremely heat-resistant and can resist temperatures up to 1,000 °C for a short time.
Kamenny Vek Company; Fiberbas Construction and Building Technologies; Hydro Design Management Co. Pvt. Ltd.; Hg Gbf Basalt Fiber Co., Ltd; Bastech; Mafic SA; Shanxi Basalt Fiber Technology Co. Ltd; Technobasalt-Invest LLC; Deutsche Basalt Faser Gmbh; and Basalt Engineering LLC are among the major key players operating in the global basalt fiber market.
Report Spotlights
- Progressive industry trends in the basalt fiber market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the basalt fiber market from 2019 to 2028
- Estimation of global demand for basalt fiber
- PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry
- Recent developments to understand the competitive market scenario
- Market trends and outlook as well as factors driving and restraining the growth of the basalt fiber market
- Assistance in decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
- The size of the basalt fiber market size at various nodes
- Detailed overview and segmentation of the market, as well as the basalt fiber industry dynamics
- Size of the basalt fiber market in various regions with promising growth opportunities
Basalt Fibers Market Report Scope
Global Basalt Fiber Market
By Product
- Roving
- Chopped Strand
- Twisted Yarn
- Fabrics and Tapes
- Others
By End-Use Industry
- Construction
- Automotive
- Electrical and Electronics
- Chemical
- Others
Company Profiles
- Kamenny Vek Company
- Fiberbas Construction and Building Technologies
- Hydro Design Management Co. Pvt. Ltd.
- Hg Gbf Basalt Fiber Co., Ltd
- Bastech
- Mafic SA
- Shanxi Basalt Fiber Technology Co. Ltd
- Technobasalt-Invest LLC
- Deutsche Basalt Faser Gmbh
- Basalt Engineering LLC
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Asia-Pacific is estimated to register the fastest CAGR in the market over the forecast period. Asia Pacific comprises several economies such as India, China, Japan, South Korea, and Australia. These countries are witnessing an upsurge in industrialization and urbanization activities, offering ample opportunities for the key market players in the basalt fiber market. In Asia Pacific, there has been an increase in the consumption of basalt fiber in various industries, such as wind energy, construction & infrastructure, electrical & electronics, and automotive. Along with this, the rise in awareness regarding sustainable living and environment-friendly materials used in the application of infrastructure, aerospace, and other industries boosts the demand for basalt fibers in the region. Features of basalt fiber such as low cost, easy availability, and increasing production capacities bolster the growth of the basalt fiber market in Asia Pacific.
Based on end-use industry, automotive segment led the global basalt fiber market during the forecasted period. Basalt fiber has various properties such as high mechanical strength, resistance to high temperature, durability, and chemical resistance. It is also environmentally friendly. Such properties make basalt fiber an ideal material to be used in the automotive industry to produce headliners, CNG cylinders, brake pads and clutch plates, thermo insulation for exhaust systems, muffler’s filler, interior and exterior parts, and thermoplastic parts. Basalt fiber is lighter than steel. The fiber has high mechanical strength and an extended range of working temperatures. It is cost-effective along with excellent recyclability. All these properties made basalt fiber one of the ideal materials to be used to produce CNG cylinders.
On the basis of end-use industry, construction segment is leading the basalt fiber market during the forecast period. Basalt fibers are primarily employed in the construction industry as it has a higher strength than steel and is resistant to electromagnetic radiations and ultraviolet rays. Basalt fiber is three times lighter than steel and is 2.5 times stronger in tensile strength than steel. It also has an extremely lower coefficient of heat conductivity than steel, which improves energy efficiency. In the construction industry, basalt fiber is used in various applications, such as in the usage of wet or dry chopped strand for premix technology, basalt roving for spray up and shotcrete technologies, high strength roving for the manufacturing of rebars and pultruded profiles, and basalt fiber fabrics for concrete reinforcement and building thermo insulation.
Based on product, fabrics and tapes segment is expected to grow at the fastest CAGR from 2021 to 2028. Basalt woven and knitted fabrics are mostly manufactured from direct roving, twisted yarns, special weaving, and knitting machines. Basalt fabrics are generally used for producing structural-basalt plastics, which are based on various thermosetting binders. It can also be used as a base when manufacturing soft and rigid roofing as well as for electrotechnical purposes to produce insulation materials. The basalt fiber tapes are used with resin and are compatible with polyester, epoxy, and vinyl ester. These tapes are used for the selective reinforcement of laminates, sleeve or pipe winding, seams, and molding. The finished edges of the basalt fiber provide easy handling and a clean, finished appearance, which prevents the tape from unraveling.
The major players operating in the basalt fiber market are Kamenny Vek Company, Fiberbas Construction and Building Technologies, Hydro Design Management Co. Pvt. Ltd., Hg Gbf Basalt Fiber Co., Ltd., Bastech, Mafic SA, Shanxi Basalt Fiber Technology Co. Ltd., Technobasalt-Invest LLC, Deutsche Basalt Faser Gmbh, and Basalt Engineering LLC.
In 2020, Asia-Pacific held the largest revenue share of the global basalt fiber market. Asia-Pacific continent comprises several developing and developed economies such as India, China, Japan, South Korea, and Australia. These emerging countries are witnessing an upsurge in industrialization and urbanization activities, offering ample opportunities for the key market players in the basalt fiber market. Asia-Pacific region is anticipated to propel the basalt fiber demand owing to the presence of several domestic players in the vertical market segment such as construction and automotive. The basalt fiber market is expected to witness huge demand from the construction and automotive industries due to their resistance power to varying temperatures and chemicals, low water absorption, high mechanical strength, and durability. Besides, basalt fiber finds applications in marine, aerospace & defense, and others. The basalt fiber market is expected to rise during the projection period due to enormous growth in the automotive sector especially in countries including India and China. Additionally, the rising urbanization, rising population, and the presence of government support are the other drivers for the market growth in the region.
1. Introduction. 19
1.1 Study Scope. 19
1.2 The Insight Partners Research Report Guidance. 19
1.3 Market Segmentation. 20
2. Key Takeaways. 22
3. Research Methodology. 26
3.1 Scope of the Study. 26
3.2 Research Methodology. 26
3.2.1 Data Collection. 27
3.2.2 Primary Interviews. 27
3.2.3 Hypothesis Formulation. 28
3.2.4 Macro-economic Factor Analysis. 28
3.2.5 Developing Base Number. 28
3.2.6 Data Triangulation. 28
3.2.7 Country Level Data. 29
4. Global Basalt Fiber Market Landscape. 30
4.1 Market Overview. 30
4.2 PEST Analysis. 31
4.2.1 North America. 31
4.2.2 Europe. 32
4.2.3 APAC.. 32
4.2.4 MEA. 33
4.2.5 SAM... 33
4.3 Expert Opinion. 34
5. Basalt Fiber Market — Key Market Dynamics. 35
5.1 Key Market Drivers. 35
5.1.1 Wide Applications of Basalt Fibers in Various End-Use Industries: 35
5.1.2 Superior Mechanical, Chemical and Thermal Properties of Basalt Fibers: 35
5.2 Key Market Restraints. 36
5.2.1 Inconsistent Raw Material Properties: 36
5.3 Key Market Opportunities. 36
5.3.1 Growing Adoption of Environmentally Friendly and Recyclable Material: 36
5.4 Future Trends. 36
5.4.1 Increase in Demand for Noncorrosive Materials: 36
5.5 Impact Analysis of Drivers and Restraint 37
6. Basalt Fiber – Global Market Analysis. 38
6.1 Basalt Fiber Market Overview. 38
6.2 Basalt Fiber Market –Revenue and Forecast to 2028. 39
6.3 Competitive Positioning – Key Market Players. 40
7. Global Basalt Fiber Market Analysis – by Product 41
7.1 Overview. 41
7.2 Global Basalt Fiber Market Breakdown, By Product, 2020 & 2028. 41
7.3 Roving. 41
7.3.1 Overview.. 41
7.3.1 Roving: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 42
7.4 Chopped Strand. 43
7.4.1 Overview.. 43
7.4.2 Chopped Strand: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 43
7.5 Twisted Yarn. 44
7.5.1 Overview.. 44
7.5.2 Twisted Yarn: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 44
7.6 Fabrics and Tapes. 45
7.6.1 Overview.. 45
7.6.2 Fabrics and Tapes: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 45
7.7 Others. 46
7.7.1 Overview.. 46
7.7.2 Others: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 46
8. Global Basalt Fiber Market Analysis – by End-Use Industry. 47
8.1 Overview. 47
8.2 Global Basalt Fiber Market Breakdown, by End-Use Industry, 2020 & 2028. 47
8.3 Construction. 47
8.3.1 Overview.. 47
8.3.2 Construction: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 48
8.4 Automotive. 49
8.4.1 Overview.. 49
8.4.2 Automotive: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 49
8.5 Electrical and Electronics. 50
8.5.1 Overview.. 50
8.5.2 Electrical and Electronics: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 50
8.6 Chemical 51
8.6.1 Overview.. 51
8.6.2 Chemical: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 51
8.7 Others. 52
8.7.1 Overview.. 52
8.7.2 Others: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 52
9. Basalt Fiber Market – Geographic Analysis. 53
9.1 Overview. 53
9.2 North America: Basalt Fiber Market 53
9.2.1 North America: Basalt Fiber Market –Revenue and Forecast to 2028 (US$ Thousand) 54
9.2.2 North America: Basalt Fiber Market, By Product 55
9.2.3 North America: Basalt Fiber Market, by End-Use Industry. 56
9.2.4 North America: Basalt Fiber Market, by Key Country. 57
9.2.4.1 US: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 57
9.2.4.1.1 US: Basalt Fiber Market, by Product 58
9.2.4.1.2 US: Basalt Fiber Market, by End-Use Industry. 58
9.2.4.2 Canada: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 59
9.2.4.2.1 Canada: Basalt Fiber Market, by Product 60
9.2.4.2.2 Canada: Basalt Fiber Market, by End-Use Industry. 60
9.2.4.3 Mexico: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 61
9.2.4.3.1 Mexico: Basalt Fiber Market, by Product 61
9.2.4.3.2 Mexico: Basalt Fiber Market, by End-Use Industry. 62
9.3 Europe: Basalt Fiber Market 62
9.3.1 Europe: Basalt Fiber Market –Revenue and Forecast to 2028 (US$ Thousand) 63
9.3.2 Europe: Basalt Fiber Market, By Product 63
9.3.3 Europe: Basalt Fiber Market, by End-Use Industry. 64
9.3.4 Europe: Basalt Fiber Market, by Key Country. 65
9.3.4.1 Germany: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 66
9.3.4.1.1 Germany: Basalt Fiber Market, By Product 66
9.3.4.1.2 Germany: Basalt Fiber Market, by End-Use Industry. 67
9.3.4.2 France: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 67
9.3.4.2.1 France: Basalt Fiber Market, By Product 68
9.3.4.2.2 France: Basalt Fiber Market, by End-Use Industry. 68
9.3.4.3 Italy: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 69
9.3.4.3.1 Italy: Basalt Fiber Market, By Product 69
9.3.4.3.2 Italy: Basalt Fiber Market, by End-Use Industry. 70
9.3.4.4 UK: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 70
9.3.4.4.1 UK: Basalt Fiber Market, By Product 71
9.3.4.4.2 UK: Basalt Fiber Market, by End-Use Industry. 71
9.3.4.5 Russia: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 72
9.3.4.5.1 Russia: Basalt Fiber Market, By Product 72
9.3.4.5.2 Russia: Basalt Fiber Market, by End-Use Industry. 73
9.3.4.6 Rest of Europe: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 73
9.3.4.6.1 Rest of Europe: Basalt Fiber Market, By Product 74
9.3.4.6.2 Rest of Europe: Basalt Fiber Market, by End-Use Industry. 74
9.4 Asia Pacific: Basalt Fiber market 75
9.4.1 Asia Pacific: Basalt Fiber Market –Revenue and Forecast to 2028 (US$ Thousand) 76
9.4.2 Asia Pacific: Basalt Fiber Market, By Product 76
9.4.3 Asia Pacific: Basalt Fiber Market, by End-Use Industry. 77
9.4.4 Asia Pacific: Basalt Fiber Market, by Key Country. 78
9.4.4.1 India: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 79
9.4.4.1.1 India: Basalt Fiber Market, by Product 80
9.4.4.1.2 India: Basalt Fiber Market, by End-Use Industry. 80
9.4.4.2 Australia: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 81
9.4.4.2.1 Australia: Basalt Fiber Market, by Product 81
9.4.4.2.2 Australia: Basalt Fiber Market, by End-Use Industry. 82
9.4.4.3 China: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 82
9.4.4.3.1 China: Basalt Fiber Market, by Product 83
9.4.4.3.2 China: Basalt Fiber Market, by End-Use Industry. 83
9.4.4.4 Japan: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 84
9.4.4.4.1 Japan: Basalt Fiber Market, by Product 85
9.4.4.4.2 Japan: Basalt Fiber Market, by End-Use Industry. 85
9.4.4.5 South Korea: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 86
9.4.4.5.1 South Korea: Basalt Fiber Market, by Product 86
9.4.4.5.2 South Korea: Basalt Fiber Market, by End-Use Industry. 87
9.4.4.6 Rest of Asia Pacific: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 87
9.4.4.6.1 Rest of Asia Pacific: Basalt Fiber Market, by Product 88
9.4.4.6.2 Rest of Asia Pacific: Basalt Fiber Market, by End-Use Industry. 88
9.5 Middle East and Africa: Basalt Fiber Market 89
9.5.1 Middle East and Africa: Basalt Fiber Market –Revenue and Forecast to 2028 (US$ Thousand) 89
9.5.2 Middle East and Africa: Basalt Fiber Market, By Product 90
9.5.3 Middle East and Africa: Basalt Fiber Market, by End-Use Industry. 91
9.5.4 Middle East and Africa: Basalt Fiber Market, by Key Country. 92
9.5.4.1 South Africa: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 92
9.5.4.1.1 South Africa: Basalt Fiber Market, by Product 93
9.5.4.1.2 South Africa: Basalt Fiber Market, by End-Use Industry. 93
9.5.4.2 Saudi Arabia: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 94
9.5.4.2.1 Saudi Arabia: Basalt Fiber Market, by Product 94
9.5.4.2.2 Saudi Arabia: Basalt Fiber Market, by End-Use Industry. 95
9.5.4.3 UAE: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 95
9.5.4.3.1 UAE: Basalt Fiber Market, by Product 96
9.5.4.3.2 UAE: Basalt Fiber Market, by End-Use Industry. 96
9.5.4.4 Rest of Middle East and Africa: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 97
9.5.4.4.1 Rest of Middle East and Africa: Basalt Fiber Market, by Product 97
9.5.4.4.2 Rest of Middle East and Africa: Basalt Fiber Market, by End-Use Industry. 98
9.6 South and Central America: Basalt Fiber Market 99
9.6.1 South and Central America: Basalt Fiber Market –Revenue and Forecast to 2028 (US$ Thousand) 99
9.6.2 South and Central America: Basalt Fiber Market, By Product 100
9.6.3 South and Central America: Basalt Fiber Market, by End-Use Industry. 101
9.6.4 South and Central America: Basalt Fiber Market, by Key Country. 102
9.6.4.1 Brazil: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 102
9.6.4.1.1 Brazil: Basalt Fiber Market, by Product 103
9.6.4.1.2 Brazil: Basalt Fiber Market, by End-Use Industry. 103
9.6.4.2 Argentina: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 104
9.6.4.2.1 Argentina: Basalt Fiber Market, by Product 105
9.6.4.2.2 Argentina: Basalt Fiber Market, by End-Use Industry. 105
9.6.4.3 Rest of South and Central America: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 106
9.6.4.3.1 Rest of South and Central America: Basalt Fiber Market, by Product 106
9.6.4.3.2 Rest of South and Central America: Basalt Fiber Market, by End-Use Industry. 107
10. Impact of COVID-19 Pandemic on Global Basalt Fiber Market 108
10.1 Impact of COVID-19 on Basalt Fiber Market 108
10.2 North America: Impact Assessment of COVID-19 Pandemic. 108
10.1 Europe: Impact Assessment of COVID-19 Pandemic. 110
10.2 Asia Pacific : Impact Assessment of COVID-19 Pandemic. 111
10.3 Middle East and Africa: Impact Assessment of COVID-19 Pandemic. 112
10.3 South and Central America: Impact Assessment of COVID-19 Pandemic. 113
11. Company Profile. 114
11.1 Kamenny Vek Company. 114
11.1.1 Key Facts. 114
11.1.2 Business Description. 114
11.1.3 Products and Services. 114
11.1.4 Financial Overview.. 115
11.1.5 SWOT Analysis. 115
11.1.6 Key Developments. 116
11.2 Fiberbas Construction and Building Technologies. 117
11.2.1 Key Facts. 117
11.2.2 Business Description. 117
11.2.3 Products and Services. 117
11.2.4 Financial Overview.. 117
11.2.5 SWOT Analysis. 118
11.2.6 Key Developments. 118
11.3 Hydro Design Management Co. Pvt. Ltd. 119
11.3.1 Key Facts. 119
11.3.2 Business Description. 119
11.3.3 Products and Services. 119
11.3.4 Financial Overview.. 120
11.3.5 SWOT Analysis. 120
11.3.6 Key Developments. 120
11.4 Hg Gbf Basalt Fiber Co., Ltd. 121
11.4.1 Key Facts. 121
11.4.2 Business Description. 121
11.4.3 Products and Services. 121
11.4.4 Financial Overview.. 122
11.4.5 SWOT Analysis. 122
11.4.6 Key Developments. 122
11.5 Bastech. 123
11.5.1 Key Facts. 123
11.5.2 Business Description. 123
11.5.3 Products and Services. 123
11.5.4 Financial Overview.. 123
11.5.5 SWOT Analysis. 124
11.5.6 Key Developments. 124
11.6 Mafic SA. 125
11.6.1 Key Facts. 125
11.6.2 Business Description. 125
11.6.3 Products and Services. 125
11.6.4 Financial Overview.. 125
11.6.5 SWOT Analysis. 126
11.6.6 Key Developments. 126
11.7 Shanxi Basalt Fiber Technology Co. Ltd. 127
11.7.1 Key Facts. 127
11.7.2 Business Description. 127
11.7.3 Products and Services. 127
11.7.4 Financial Overview.. 127
11.7.5 SWOT Analysis. 128
11.7.6 Key Developments. 128
11.8 Technobasalt-Invest LLC. 129
11.8.1 Key Facts. 129
11.8.2 Business Description. 129
11.8.3 Products and Services. 129
11.8.4 Financial Overview.. 129
11.8.5 SWOT Analysis. 130
11.8.6 Key Developments. 130
11.9 Deutsche Basalt Faser Gmbh. 131
11.9.1 Key Facts. 131
11.9.2 Business Description. 131
11.9.3 Products and Services. 131
11.9.4 Financial Overview.. 131
11.9.5 SWOT Analysis. 132
11.9.6 Key Developments. 132
11.10 Basalt Engineering LLC. 133
11.10.1 Key Facts. 133
11.10.2 Business Description. 133
11.10.3 Products and Services. 133
11.10.4 Financial Overview.. 133
11.10.5 SWOT Analysis. 134
11.10.6 Key Developments. 134
12. Appendix. 135
12.1 About The Insight Partners. 135
12.2 Word Index 135
LIST OF TABLES
Table 1. Basalt Fiber Market –Revenue and Forecast to 2028 (US$ Thousand) 39
Table 2. North America Basalt Fiber Market, by Product – Revenue and Forecast to 2028 (US$ Thousand) 55
Table 3. North America Basalt Fiber Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Thousand) 56
Table 4. US Basalt Fiber Market, by Product – Revenue and Forecast to 2028 (US$ Thousand) 58
Table 5. US Basalt Fiber Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Thousand) 58
Table 6. Canada Basalt Fiber Market, by Product – Revenue and Forecast to 2028 (US$ Thousand) 60
Table 7. Canada Basalt Fiber Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Thousand) 60
Table 8. Mexico Basalt Fiber Market, by Product – Revenue and Forecast to 2028 (US$ Thousand) 61
Table 9. Mexico Basalt Fiber Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Thousand) 62
Table 10. Europe: Basalt Fiber Market, By Product – Revenue and Forecast to 2028 (US$ Thousand) 63
Table 11. Europe: Basalt Fiber Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Thousand) 65
Table 12. Germany Basalt Fiber Market, By Product – Revenue and Forecast to 2028 (US$ Thousand) 66
Table 13. Germany Basalt Fiber Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Thousand) 67
Table 14. France Basalt Fiber Market, By Product – Revenue and Forecast to 2028 (US$ Thousand) 68
Table 15. France Basalt Fiber Market, by End-Use Indsutry – Revenue and Forecast to 2028 (US$ Thousand) 68
Table 16. Italy Basalt Fiber Market, By Product – Revenue and Forecast to 2028 (US$ Thousand) 69
Table 17. Italy Basalt Fiber Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Thousand) 70
Table 18. UK Basalt Fiber Market, By Product – Revenue and Forecast to 2028 (US$ Thousand) 71
Table 19. UK Basalt Fiber Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Thousand) 71
Table 20. Russia Basalt Fiber Market, By Product – Revenue and Forecast to 2028 (US$ Thousand) 72
Table 21. Russia Basalt Fiber Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Thousand) 73
Table 22. Rest of Europe Basalt Fiber Market, By Product – Revenue and Forecast to 2028 (US$ Thousand) 74
Table 23. Rest of Europe Basalt Fiber Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Thousand) 74
Table 24. Asia Pacific: Basalt Fiber Market, by Product – Revenue and Forecast to 2028 (US$ Thousand) 77
Table 25. Asia Pacific: Basalt Fiber Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Thousand) 78
Table 26. India Basalt Fiber Market, by Product – Revenue and Forecast to 2028 (US$ Thousand) 80
Table 27. India Laminate Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Thousand) 80
Table 28. Australia: Basalt Fiber Market, by Product– Revenue and Forecast to 2028 (US$ Thousand) 81
Table 29. Australia: Laminate Market, by End-Use Industry– Revenue and Forecast to 2028 (US$ Thousand) 82
Table 30. China: Basalt Fiber Market, by Product – Revenue and Forecast to 2028 (US$ Thousand) 83
Table 31. Japan: Basalt Fiber Market, by Product – Revenue and Forecast to 2028 (US$ Thousand) 85
Table 32. Japan: Laminate Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Thousand) 85
Table 33. South Korea: Basalt Fiber Market, by Product – Revenue and Forecast to 2028 (US$ Thousand) 86
Table 34. South Korea: Laminate Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Thousand) 87
Table 35. Rest of Asia Pacific: Basalt Fiber Market, by Product – Revenue and Forecast to 2028 (US$ Thousand) 88
Table 36. Rest of Asia Pacific: Laminate Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Thousand) 88
Table 37. Middle East and Africa: Basalt Fiber Market, by Product – Revenue and Forecast to 2028 (US$ Thousand) 90
Table 38. Middle East and Africa: Basalt Fiber Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Thousand) 91
Table 39. South Africa Basalt Fiber Market, by Product – Revenue and Forecast to 2028 (US$ Thousand) 93
Table 40. South Africa Laminate Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Thousand) 93
Table 41. Saudi Arabia Basalt Fiber Market, by Product – Revenue and Forecast to 2028 (US$ Thousand) 94
Table 42. Saudi Arabia Laminate Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Thousand) 95
Table 43. UAE Basalt Fiber Market, by Product – Revenue and Forecast to 2028 (US$ Thousand) 96
Table 44. UAE Laminate Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Thousand) 96
Table 45. Rest of Middle East and Africa Basalt Fiber Market, by Product – Revenue and Forecast to 2028 (US$ Thousand) 97
Table 46. Rest of Middle East and Africa Basalt Fiber Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Thousand) 98
Table 47. South and Central America Basalt Fiber Market, by Product – Revenue and Forecast to 2028 (US$ Thousand) 100
Table 48. South and Central America Basalt Fiber Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Thousand) 101
Table 49. Brazil Basalt Fiber Market, by Product – Revenue and Forecast to 2028 (US$ Thousand) 103
Table 50. Brazil Basalt Fiber Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Thousand) 103
Table 51. Argentina Basalt Fiber Market, by Product – Revenue and Forecast to 2028 (US$ Thousand) 105
Table 52. Argentina Basalt Fiber Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Thousand) 105
Table 53. Rest of South and Central America Basalt Fiber Market, by Product – Revenue and Forecast to 2028 (US$ Thousand) 106
Table 54. Rest of South and Central America Basalt Fiber Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Thousand) 107
Table 55. List of Abbreviation. 135
LIST OF FIGURES
Figure 1. Global Basalt Fiber Market Segmentation. 20
Figure 2. Basalt Fiber Market Segmentation – By Geography. 21
Figure 3. Global Basalt Fiber Market Overview. 22
Figure 4. Basalt Fiber Market, By Product 23
Figure 5. Basalt Fiber Market, By Geography. 24
Figure 6. Global Basalt Fiber Market, Industry Landscape. 25
Figure 7. North America: PEST Analysis. 31
Figure 8. Europe: PEST Analysis. 32
Figure 9. APAC: PEST Analysis. 32
Figure 10. MEA: PEST Analysis. 33
Figure 11. SAM: PEST Analysis. 33
Figure 12. Expert Opinion. 34
Figure 13. Basalt Fiber Market Impact Analysis of Drivers and Restraints. 37
Figure 14. Geographic Overview of Basalt Fiber Market 38
Figure 15. Global: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 39
Figure 16. Global Basalt Fiber Market Breakdown, By Product, 2020 & 2028. 41
Figure 17. Roving: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 42
Figure 18. Chopped Strand: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 43
Figure 19. Twisted Yarn: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 44
Figure 20. Fabrics and Tapes: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 45
Figure 21. Others: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 46
Figure 22. Global Basalt Fiber Market Breakdown, by End-Use Industry, 2020 & 2028. 47
Figure 23. Construction: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 48
Figure 24. Automotive: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 49
Figure 25. Electrical and Electronics: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 50
Figure 26. Chemical: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 51
Figure 27. Others: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 52
Figure 28. Global Basalt Fiber Market Revenue Share, by Region (2020 and 2028) 53
Figure 29. North America: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 54
Figure 30. North America: Basalt Fiber Market Revenue Share, by Product (2020 and 2028) 55
Figure 31. North America: Basalt Fiber Market Revenue Share, by End-Use Industry (2020 and 2028) 56
Figure 32. North America: Basalt Fiber Market Revenue Share, by Key Country (2020 and 2028) 57
Figure 33. US: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 57
Figure 34. Canada: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 59
Figure 35. Mexico: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 61
Figure 36. Europe: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 63
Figure 37. Europe: Basalt Fiber Market Revenue Share, By Product (2020 and 2028) 63
Figure 38. Europe: Basalt Fiber Market Revenue Share, by End-Use Industry (2020 and 2028) 64
Figure 39. Europe: Basalt Fiber Market Revenue Share, by Key Country (2020 and 2028) 65
Figure 40. Germany: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 66
Figure 41. France: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 67
Figure 42. Italy: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 69
Figure 43. UK: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 70
Figure 44. Russia: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 72
Figure 45. Rest of Europe: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 73
Figure 46. Asia Pacific: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 76
Figure 47. Asia Pacific: Basalt Fiber Market Revenue Share, by Product (2020 and 2028) 76
Figure 48. Asia Pacific: Basalt Fiber Market Revenue Share, by End-Use Industry (2020 and 2028) 77
Figure 49. Asia Pacific: Basalt Fiber Market Revenue Share, by Key Country (2020 and 2028) 78
Figure 50. India: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 79
Figure 51. Australia: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 81
Figure 52. China: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 82
Figure 53. China: Laminate Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Thousand) 83
Figure 54. Japan: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 84
Figure 55. South Korea: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 86
Figure 56. Rest of Asia Pacific: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 87
Figure 57. Middle East and Africa: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 89
Figure 58. Middle East and Africa: Basalt Fiber Market Revenue Share, by Product (2020 and 2028) 90
Figure 59. Middle East and Africa: Basalt Fiber Market Revenue Share, by End-Use Industry (2020 and 2028) 91
Figure 60. Middle East and Africa: Basalt Fiber Market Revenue Share, by Key Country (2020 and 2028) 92
Figure 61. South Africa: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 92
Figure 62. Saudi Arabia: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 94
Figure 63. UAE: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 95
Figure 64. Rest of Middle East and Africa: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 97
Figure 65. South and Central America: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 99
Figure 66. South and Central America: Basalt Fiber Market Revenue Share, by Product (2020 and 2028) 100
Figure 67. South and Central America: Basalt Fiber Market Revenue Share, by End-Use Industry (2020 and 2028) 101
Figure 68. South and Central America: Basalt Fiber Market Revenue Share, by Key Country (2020 and 2028) 102
Figure 69. Brazil: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 102
Figure 70. Argentina: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 104
Figure 71. Rest of South and Central America: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand) 106
Figure 72. Impact of COVID-19 Pandemic on Basalt Fiber Market in North America. 109
Figure 73. Impact of COVID-19 Pandemic on Basalt Fiber Market in Europe. 110
Figure 74. Impact of COVID-19 Pandemic on Basalt Fiber Market in Asia Pacific. 111
Figure 75. Impact of COVID-19 Pandemic on Basalt Fiber Market in Middle East & Africa. 112
Figure 76. Impact of COVID-19 Pandemic on Basalt Fiber Market in South and Central America. 113
The List of Companies - Basalt Fiber Market
- Kamenny Vek Company
- Fiberbas Construction and Building Technologies
- Hydro Design Management Co. Pvt. Ltd.
- Hg Gbf Basalt Fiber Co., Ltd
- Bastech
- Mafic SA
- Shanxi Basalt Fiber Technology Co. Ltd
- Technobasalt-Invest LLC
- Deutsche Basalt Faser Gmbh
- Basalt Engineering LLC
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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