Continuous Basalt Fiber Market Competitive Landscape by Companies with a CAGR of 10.3% By 2030

Continuous Basalt Fiber Market by Type (Basic and Advanced), Product Type (Roving, Chopped Strands, Fabrics, and Others), Processing Technology (Pultrusion, Vacuum Infusion, Texturizing, Stitching & Weaving, and Others), and End User (Construction, Transportation, Industrial, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030. The global continuous basalt fiber market size was valued at $173.6 million in 2020, and is expected to reach $473.6 million by 2030, with a CAGR of 10.3% from 2021 to 2030.

Continuous basalt fiber is manufactured from basalt rock, by melting at 14000 C. Continuous basalt fiber is used in automotive, construction, aerospace, defense, and many others industries, owing to features such as having high tensile strength, high structural integrity, and mechanical properties. Continuous basalt fiber has gained importance, owing to a constant demand for lightweight materials with strength in industries such as defense, automotive, aerospace, and other manufacturing industries. Continuous basalt fiber offers high strength and is used as a replacement for materials such as aluminum and steel. In addition, they offer resistance to corrosion, wear, impact, and fire.

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Major players such as Fiberbas Construction and Building Technologies, Kamenny Vek, Russian Basalt, and others launched new continuous basalt fiber products to the market. For instance, Fiberbas Construction and Building Technologies offered new chopped basalt fiber. It is used as a substitute for fiberglass. It has features such as high cohesion, corrosive, and high tensile strength. It is used for industries such as concrete, automotive parts, sporting goods, and the production of containers.

Top Players:
Key players profiled in this report include The Basaltex NV, Hengdian Group, Shanxi Yaxin Group, Fiberbas, Jilin Tongxin Basalt Technology Co Ltd, Armbasalt CJCS, Technobasalt-Invest LLC, Kamenny Vek, LAVAintel, and Isomatex S.A.

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Key Segments:
The global continuous basalt fiber market is segmented on the basis of type, product type, processing technology, end user, and region. On the basis of type, the market is divided into basic and advanced. The basic segment generated the highest revenue in 2020. By product type, it is divided into roving, chopped strands, fabrics, and others. The roving segment dominated the market in 2020. On the basis of processing technology, the market is categorized into pultrusion, vacuum infusion, texturizing, stitching & weaving, and others. The others segment generated highest revenue in 2020. On the basis of end user, it is divided into construction, transportation, industrial, and others.

Regional Analysis:
Region wise, the global continuous basalt fiber market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). In 2020, Asia-Pacific was the highest contributor to the global continuous basalt fiber market share, and is anticipated to secure a leading position during the forecast period.

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