Basalt Fiber Market: Global Industry Outlook, Size (US$ 565.7 Million), Share, Growth (CAGR of 10.7%), Top Companies Analysis and Research Report 2022-2027

According to IMARC Group's latest report, titled "Basalt Fiber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global basalt fiber market size reached US$ 300.8 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 565.7 Million by 2027, exhibiting a growth rate (CAGR) of 10.7% during 2022-2027.

Basalt Fiber Market Trends:

The growing industrialization and the increasing infrastructural developments across countries are among the key factors driving the basalt fiber market. In addition to this, the elevating usage of the fibers by the government bodies of both developing and developed countries for commercial, industrial, and residential constructions, owing to its cost-effectiveness and non-corrosive properties, is acting as another significant growth-inducing factor. Besides this, the shifting preferences toward discrete basalt fiber as an effective alternative for steel and other fiber reinforcements for manufacturing lightweight aircraft and automobile components are also positively influencing the global market. Moreover, the escalating need for recyclable and eco-friendly fibers to minimize carbon footprint and the launch of various innovative products, such as basalt fiber reinforced plastic (BFRP), that offer additional support to infrastructural constructions and reduce the damage caused by corrosion is anticipated to propel the basalt fiber market over the forecasted period.

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Year Considered to Estimate the Market Size:

Base Year of the Analysis: 2021
Historical Period: 2016-2021
Forecast Period: 2022-2027

Competitive Landscape With Key Players:

The competitive landscape of the basalt fiber market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• 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
• Zhejiang Hengdian Imp. & Exp. Co. Ltd.

Industry Definition and Application:

Basalt fiber represents fiber-reinforced polymers manufactured utilizing extremely fine fibers of basalt and other minerals, including olivine, pyroxene, and plagioclase. They are available in several product types, such as rebar, fabric, roving, chopped strands, mesh and grids, etc. These basalt fiber variants are usually derived through prepreg process, pultrusion, compression or resin molding, and vacuum infusion methods. They have superior thermal protection, improved tensile strength, enhanced resistance to chemicals and ultraviolet (UV) radiations, lower hygroscopic quotient, and higher adhesive capabilities as compared to traditional glass fibers. As a result, basalt fiber products find extensive applications across numerous sectors, including automotive and transportation, construction, electrical and electronics, wind energy, marine, etc.

Key Market Segmentation:

The report has segmented the global basalt fiber market based on product, type, form, method, end use industry and region.

Breakup by Product:

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

Breakup by Type:

• Composites
• Non-Composites

Breakup by Form:

• Continuous
• Discrete

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
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa

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Key Highlights of the Report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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