Basalt Fiber Market Size to Reach USD 644.9 Million in 2030 | Kamenny VEK, Basaltex, B&W Fiber Glass

Technical Textile Market
Technical Textile Market

The global basalt fiber market size is expected to reach USD 644.9 Million in 2030 and register a revenue CAGR of 10.4% over the forecast period, according to the latest report by Reports and Data. Increasing demand for basalt fibers across various end-use industries such as construction, automotive, aerospace & defense, and electronics is estimated to drive market revenue growth.

Growing concerns for environment have initiated production of materials among manufacturers which are compatible with the environment. Moreover, aspects including high mechanical & chemical strength and low cost of basalt fiber are expected to fuel growth of the market. Surging demand for naturally derived fibers over synthetically produced fibers is anticipated to provide lucrative growth opportunities for market players.

Leading Players– Kamenny VEK, Basaltex, B&W Fiber Glass, Inc., Mafic SA, Technobasalt-Invest LLC, Russian Basalt, Shanxi Basalt Fiber Technology Co. Ltd., Mudanjiang Jinshi Basalt Fiber Co. Ltd., and Zhejiang GFB Basalt Fiber Co.

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Some Key Highlights in the Report

  • In August 2020, The Materials Group and Mafic USA partnered to increase usage of basalt fiber in the automotive sector. Mafic USA began operations at the world’s largest basalt fiber production facility in Rockford. The fiber, both continuous and chopped, offers superior mechanical properties for injection-moldable thermoplastics which can be used in different automobile parts.
  • By product type, roving segment revenue is expected to register a significant growth rate during the forecast period. It is a bundle of continuous mono-directional complex basalt fibers which possesses resistance in aggressive environments, have high natural strength, long service life, and excellent electricity insulating properties. By its technical characteristics, basalt roving outperforms S-glass and E-glass in many parameters.
  • Continuous segment revenue is projected to witness a higher growth rate during the forecast period. Continuous basalt fiber is extensively used in construction and composites industry. The combination of high mechanical properties, resistance to harsh conditions, and high temperatures, makes basalt fiber a suitable alternative for fibrous materials and metals.
  • Basalt fiber finds increased application in construction sector owing to its non-corrosive and high tensile strength properties. Basalt fiber’s good compatibility with concrete, its environment-friendly properties and easy mixing at high concentration is driving its demand in construction sector. It also provides mechanical strength in extreme conditions and is available at lower costs compared to other alkali-resistant fibers.
  • Basalt fiber market in Asia Pacific is expected to witness fastest revenue growth during the forecast period attributed to the presence of a large number of companies and increase in production capacity. Growing awareness pertaining to environment-friendly materials and sustainable living in aerospace, infrastructure, and other industries is projected to drive market growth in the region.

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Key Regional Markets Covered in the Report:

  • North America (U.S.A., Canada, Mexico)
  • Europe (Italy, U.K., Germany, France, Rest of Europe)
  • Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
  • Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Product Type Outlook (Revenue, USD Million; 2019–2030)

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

Form Outlook (Revenue, USD Million; 2019–2030)

  • Continuous
  • Discrete

Usage Type Outlook (Revenue, USD Million; 2019–2030)

  • Composite
  • Non-composite

Application Outlook (Revenue, USD Million; 2019–2030)

  • Construction
  • Automotive
  • Aerospace & Defense
  • Electrical & Electronics
  • Chemical
  • Marine
  • Others

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The Basalt Fiber Report Supports the Facts Below:

Industry Verifiable Interest Patterns and Future Improvement Study – Basalt Fiber Market Financial backers will pursue their business choices in light of authentic and extended execution of the market Basalt Fiber as far as development patterns, income commitment, and market development rate.

Market Drivers, Cutoff points and Potential open doors – The market is profoundly assessed by an ebb and flow market circumstance, for example, market development variables and imperatives. Furthermore, here we can examine the most recent industry news and its effect on the Basalt Fiber business.

Industry Chain Investigation – The investigation of industry chain structure consolidates subtleties connected with provider’s and purchaser’s data. Besides, the report groups the top makers of Basalt Fiber business in light of their creation base, cost structure, Product creation process, spending on unrefined components and work expense.

Future Venture Practicality – The Basalt Fiber market report incorporates an itemized clarification about the at various times patterns of the market has been tracking with future investigation might worry with the market development.

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