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Basalt Fiber Market to Reach USD 636.31 Mn by 2030, Driven by 12.5% CAGR Growth

12-16-2024 06:17 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: MAXIMIZE MARKET RESEARCH PVT. LTD.

Basalt Fiber Market

Basalt Fiber Market

The ๐†๐ฅ๐จ๐›๐š๐ฅ ๐๐š๐ฌ๐š๐ฅ๐ญ ๐…๐ข๐›๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ valued at USD 286.34 million in 2023, is poised to achieve a remarkable growth trajectory, reaching an estimated market size of USD 605.67 million by 2030. This impressive expansion is driven by increasing demand across industries such as construction, automotive, aerospace, and wind energy, bolstered by basalt fiber's superior properties, including lightweight, durability, and environmental sustainability.

๐Š๐ž๐ฒ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐ƒ๐ซ๐ข๐ฏ๐ž๐ซ๐ฌ

Rising adoption in construction due to its strength and corrosion resistance.
Increasing use in automotive and aerospace for weight reduction and fuel efficiency.
Growing awareness about sustainable materials and eco-friendly production methods.
๐‚๐จ๐ฎ๐ง๐ญ๐ซ๐ฒ-๐’๐ฉ๐ž๐œ๐ข๐Ÿ๐ข๐œ ๐ˆ๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ

๐๐š๐ฌ๐š๐ฅ๐ญ ๐…๐ข๐›๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ ๐ข๐ง ๐๐š๐ฌ๐š๐ฅ๐ญ ๐…๐ข๐›๐ž๐ซ ๐€๐๐จ๐ฉ๐ญ๐ข๐จ๐ง

Vietnam's construction industry is rapidly integrating basalt fibers due to their resilience in harsh climatic conditions. The government's focus on infrastructure development is fueling demand. Recently, VinFast, Vietnam's leading automotive manufacturer, announced its collaboration with a basalt fiber supplier to enhance vehicle performance while reducing environmental impact. This highlights the growing opportunities for basalt fiber applications in the Vietnamese market.

๐๐š๐ฌ๐š๐ฅ๐ญ ๐…๐ข๐›๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐๐š๐ฌ๐š๐ฅ๐ญ ๐…๐ข๐›๐ž๐ซ ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐ข๐ง ๐„๐ฆ๐ž๐ซ๐ ๐ข๐ง๐  ๐’๐ž๐œ๐ญ๐จ๐ซ๐ฌ

Thailand's automotive and construction sectors are driving the basalt fiber market's growth. The Thai government's commitment to promoting sustainable building materials has led to increased adoption of basalt fiber in construction. A notable development includes SCG Group collaborating with international basalt fiber manufacturers to innovate eco-friendly building solutions, positioning Thailand as a regional hub for sustainable construction technologies.

๐๐š๐ฌ๐š๐ฅ๐ญ ๐…๐ข๐›๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐“๐ซ๐ž๐ง๐๐ฌ ๐ข๐ง ๐€๐๐ฏ๐š๐ง๐œ๐ž๐ ๐€๐ฉ๐ฉ๐ฅ๐ข๐œ๐š๐ญ๐ข๐จ๐ง๐ฌ ๐จ๐Ÿ ๐๐š๐ฌ๐š๐ฅ๐ญ ๐…๐ข๐›๐ž๐ซ

Japan's focus on cutting-edge technology and materials innovation has positioned it as a significant player in the basalt fiber market. Companies like Toray Industries are leading research into advanced composites, integrating basalt fibers into aerospace components. Additionally, Japan's renewable energy sector is increasingly utilizing basalt fiber for wind turbine blade manufacturing, capitalizing on its strength and lightweight properties.

๐‹๐จ๐จ๐ค๐ข๐ง๐  ๐Ÿ๐จ๐ซ ๐ฆ๐จ๐ซ๐ž ๐ข๐ง๐Ÿ๐จ๐ซ๐ฆ๐š๐ญ๐ข๐จ๐ง? ๐‘๐ž๐ช๐ฎ๐ž๐ฌ๐ญ ๐š ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ ๐จ๐ซ ๐ข๐ง๐ช๐ฎ๐ข๐ซ๐ž ๐ง๐จ๐ฐ :https://www.maximizemarketresearch.com/request-sample/33313/

๐๐š๐ฌ๐š๐ฅ๐ญ ๐…๐ข๐›๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‚๐จ๐ง๐ฌ๐จ๐ฅ๐ข๐๐š๐ญ๐ข๐จ๐ง ๐ข๐ง ๐๐š๐ฌ๐š๐ฅ๐ญ ๐…๐ข๐›๐ž๐ซ ๐ˆ๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ

South Korea is witnessing consolidation in the basalt fiber market, with major firms like Hyundai Steel investing in basalt fiber production facilities. This move aims to support the automotive sector's transition toward lightweight and fuel-efficient vehicles. Recent mergers and acquisitions, such as POSCO acquiring a basalt fiber start-up, underscore South Korea's strategic focus on this material.

๐๐š๐ฌ๐š๐ฅ๐ญ ๐…๐ข๐›๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐€๐๐ฏ๐š๐ง๐œ๐ž๐ฆ๐ž๐ง๐ญ๐ฌ ๐š๐ง๐ ๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ ๐ข๐ง ๐๐š๐ฌ๐š๐ฅ๐ญ ๐…๐ข๐›๐ž๐ซ ๐“๐ž๐œ๐ก๐ง๐จ๐ฅ๐จ๐ ๐ข๐ž๐ฌ

Singapore is leveraging basalt fiber's properties for innovative construction techniques, particularly in high-rise buildings and green architecture. The government's emphasis on sustainability has led to partnerships like ๐‚๐š๐ฉ๐ข๐ญ๐š๐‹๐š๐ง๐ working with basalt fiber producers to create eco-friendly building materials. These advancements highlight Singapore's role as a leader in integrating sustainable materials into urban development.

๐๐š๐ฌ๐š๐ฅ๐ญ ๐…๐ข๐›๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐๐š๐ฌ๐š๐ฅ๐ญ ๐…๐ข๐›๐ž๐ซ ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐ข๐ง ๐‘๐ž๐ง๐ž๐ฐ๐š๐›๐ฅ๐ž ๐„๐ง๐ž๐ซ๐ ๐ฒ ๐š๐ง๐ ๐ƒ๐ž๐Ÿ๐ž๐ง๐ฌ๐ž

The United States is a frontrunner in basalt fiber adoption, driven by its application in renewable energy and defense. Companies like ๐Ž๐ฐ๐ž๐ง๐ฌ ๐‚๐จ๐ซ๐ง๐ข๐ง๐  ๐š๐ง๐ ๐๐š๐ฌ๐š๐ฅ๐ญ ๐€๐ฆ๐ž๐ซ๐ข๐œ๐š are expanding their product portfolios to meet the increasing demand for lightweight and durable materials. Recent federal initiatives supporting renewable energy projects, such as offshore wind farms, are accelerating the adoption of basalt fiber for turbine blade production.

๐๐š๐ฌ๐š๐ฅ๐ญ ๐…๐ข๐›๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐”๐ฉ๐๐š๐ญ๐ข๐จ๐ง ๐ข๐ง ๐๐š๐ฌ๐š๐ฅ๐ญ ๐…๐ข๐›๐ž๐ซ ๐๐ซ๐จ๐๐ฎ๐œ๐ญ๐ข๐จ๐ง ๐š๐ง๐ ๐€๐ฉ๐ฉ๐ฅ๐ข๐œ๐š๐ญ๐ข๐จ๐ง๐ฌ

Europe remains a dominant market for basalt fiber, with countries like Germany and France leading innovation. ๐๐š๐ฌ๐š๐ฅ๐ญ๐ž๐ฑ,a prominent European company, has introduced new basalt fiber solutions tailored for automotive and aerospace applications. The European Union's stringent regulations on sustainable materials have also spurred significant investments in basalt fiber research and development.

๐‘๐ž๐œ๐ž๐ง๐ญ ๐ƒ๐ž๐ฏ๐ž๐ฅ๐จ๐ฉ๐ฆ๐ž๐ง๐ญ๐ฌ ๐ข๐ง ๐ญ๐ก๐ž ๐๐š๐ฌ๐š๐ฅ๐ญ ๐…๐ข๐›๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ

๐Œ๐ž๐ซ๐ ๐ž๐ซ๐ฌ & ๐€๐œ๐ช๐ฎ๐ข๐ฌ๐ข๐ญ๐ข๐จ๐ง๐ฌ:
๐๐Ž๐’๐‚๐Ž (๐’๐จ๐ฎ๐ญ๐ก ๐Š๐จ๐ซ๐ž๐š) acquired a basalt fiber start-up, enhancing its portfolio in lightweight materials.

๐’๐‚๐† ๐†๐ซ๐จ๐ฎ๐ฉ (๐“๐ก๐š๐ข๐ฅ๐š๐ง๐) partnered with global basalt fiber manufacturers to expand its eco-friendly building solutions.

๐“๐ž๐œ๐ก๐ง๐จ๐ฅ๐จ๐ ๐ข๐œ๐š๐ฅ ๐€๐๐ฏ๐š๐ง๐œ๐ž๐ฆ๐ž๐ง๐ญ๐ฌ:
๐“๐จ๐ซ๐š๐ฒ ๐ˆ๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐ž๐ฌ (๐‰๐š๐ฉ๐š๐ง) advanced basalt composite research for aerospace applications.

๐‚๐š๐ฉ๐ข๐ญ๐š๐‹๐š๐ง๐ (๐’๐ข๐ง๐ ๐š๐ฉ๐จ๐ซ๐ž) collaborated on sustainable construction innovations using basalt fiber.

๐Œ๐š๐ซ๐ค๐ž๐ญ ๐„๐ฑ๐ฉ๐š๐ง๐ฌ๐ข๐จ๐ง:
๐๐š๐ฌ๐š๐ฅ๐ญ ๐€๐ฆ๐ž๐ซ๐ข๐œ๐š (๐”๐’) launched a new product line targeting the defense sector.
๐๐š๐ฌ๐š๐ฅ๐ญ๐ž๐ฑ (๐„๐ฎ๐ซ๐จ๐ฉ๐ž) introduced novel basalt fiber solutions for green mobility

๐‹๐จ๐จ๐ค๐ข๐ง๐  ๐Ÿ๐จ๐ซ ๐ฆ๐จ๐ซ๐ž ๐ข๐ง๐Ÿ๐จ๐ซ๐ฆ๐š๐ญ๐ข๐จ๐ง? ๐‘๐ž๐ช๐ฎ๐ž๐ฌ๐ญ ๐š ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ ๐จ๐ซ ๐ข๐ง๐ช๐ฎ๐ข๐ซ๐ž ๐ง๐จ๐ฐ :https://www.maximizemarketresearch.com/request-sample/33313/

๐ƒ๐ข๐ฌ๐œ๐จ๐ฏ๐ž๐ซ ๐ค๐ž๐ฒ ๐ฌ๐ž๐ ๐ฆ๐ž๐ง๐ญ๐ฌ ๐๐ซ๐ข๐ฏ๐ข๐ง๐  ๐ญ๐ก๐ž ๐ ๐ซ๐จ๐ฐ๐ญ๐ก ๐จ๐Ÿ ๐ญ๐ก๐ž ๐‘๐ฎ๐›๐›๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ :

๐›๐ฒ ๐…๐จ๐ซ๐ฆ

Continuous
Discrete

According to form, the Basalt Fiber Market's Continuous segment led the Form segment in 2023. Continuous basalt fibers have better mechanical qualities than chopped fibers, which makes them more appealing for uses like construction, automotive, and aerospace that call for strength and endurance. Additionally, continuous fibers offer improved performance and quality uniformity and consistency, which raises the dependability of final products. They are favored in production operations where exact specifications are essential because of their consistency.

๐›๐ฒ ๐”๐ฌ๐š๐ ๐ž

Composite

Non-Composites

According to usage, the composite segment led the basalt fiber market's usage subsegment in 2023. Because of its adaptability and versatility across a range of industries, the composite segment of the basalt fiber business has exploded ahead in the Usage sub-segment. Composites reinforced with basalt fibers are highly sought after in industries like automotive, aerospace, construction, and marine because of their remarkable strength, durability, and resistance to corrosion. The primary driver of the composites market's supremacy is its capacity to provide greater performance at a competitive price, hence replacing conventional materials like steel and fiberglass in several applications. Additionally, the need for basalt fiber composites has increased due to the growing emphasis on lightweight materials to improve fuel efficiency and lower carbon footprints.

๐›๐ฒ ๐„๐ง๐ ๐”๐ฌ๐ž๐ซ ๐ˆ๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ

Construction & Infrastructure
Automotive & Transportation
Electrical & Electronics
Wind Energy
Marine
Others

๐„๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ž ๐๐ž๐ญ๐š๐ข๐ฅ๐ž๐ ๐๐š๐ญ๐š ๐š๐ง๐ ๐ข๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐›๐ฒ ๐ฏ๐ข๐ž๐ฐ๐ข๐ง๐  ๐ญ๐ก๐ž ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž : @https://www.maximizemarketresearch.com/request-sample/33313/

๐‹๐ž๐š๐ซ๐ง ๐š๐›๐จ๐ฎ๐ญ ๐ญ๐ก๐ž ๐ญ๐จ๐ฉ ๐ฉ๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ ๐๐ซ๐ข๐ฏ๐ข๐ง๐  ๐ข๐ง๐ง๐จ๐ฏ๐š๐ญ๐ข๐จ๐ง ๐ข๐ง ๐ญ๐ก๐ž ๐‘๐ฎ๐›๐›๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ :

1. Basaltex NV (Belgium)
2. Technobasalt-Invest LLC (Ukraine)
3. Mafic SA (Luxembourg)
4. INCOTELOGY GmbH (Germany)
5. Fiberbas Construction and Building Technologies (Turkey)
North America
1. Sudaglass Fiber Technology (USA)
Asia Pacific
1. Zhejiang GBF Basalt Fiber Co., Ltd. (China)
2. Zhejiang Jiuyun Fiber Technology Co., Ltd. (China)
3. Shanxi Basalt Fiber Technology Co., Ltd. (China)
4. GBF Basalt Fiber Co., Ltd. (China)
5. Mudanjiang Basalt Fiber Co., Ltd. (China)
6. Jiangsu Tianlong Continuous Basalt Fiber High-tech Co., Ltd. (China)
7. Zhongjie Composite Materials Co., Ltd. (China)
8. Hengdian Group Shanghai Russia & Gold Basalt Fiber Co., Ltd. (China)
9. Jiangsu Green Materials Vally New Material T&D Co., Ltd. (China)
10. Sichuan Aerospace Tuoxin Basalt Industrial Co., Ltd. (China)
11. NMG Corporation (Russia)

๐†๐ž๐ญ ๐š๐ง๐ฌ๐ฐ๐ž๐ซ๐ฌ ๐ญ๐จ ๐œ๐ซ๐ข๐ญ๐ข๐œ๐š๐ฅ ๐ช๐ฎ๐ž๐ฌ๐ญ๐ข๐จ๐ง๐ฌ ๐ฌ๐ก๐š๐ฉ๐ข๐ง๐  ๐ญ๐ก๐ž ๐‘๐ฎ๐›๐›๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ :

What is Basalt Fiber ?
What is the growth rate of the Basalt Fiber Market?
Which are the factors expected to drive the Basalt Fiber market growth?
What is the CAGR at which the Basalt Fiber market will grow during the forecast period?
What are the different segments of the Basalt Fiber Market?
Which is the fastest growing region in the Basalt Fiber market?
What growth strategies are the players considering to increase their presence in Basalt Fiber ?
What are the upcoming opportunities and trends for the Basalt Fiber Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Basalt Fiber Market?
Who are the leading companies and what are their portfolios in Basalt Fiber Market?
What segments are covered in the Basalt Fiber Market?
Who are the key players in the Basalt Fiber market?

๐†๐š๐ข๐ง ๐š๐œ๐œ๐ž๐ฌ๐ฌ ๐ญ๐จ ๐ฏ๐š๐ฅ๐ฎ๐š๐›๐ฅ๐ž ๐ข๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐ข๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐ญ๐ก๐ซ๐จ๐ฎ๐ ๐ก ๐ญ๐ก๐ž ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž ๐ฅ๐ข๐ง๐ค @https://www.maximizemarketresearch.com/contact-us/

๐†๐ž๐ญ ๐š ๐œ๐ฅ๐จ๐ฌ๐ž๐ซ ๐ฅ๐จ๐จ๐ค ๐š๐ญ ๐ญ๐ก๐ž ๐ ๐š๐ฆ๐ž-๐œ๐ก๐š๐ง๐ ๐ข๐ง๐  ๐ฉ๐ซ๐จ๐๐ฎ๐œ๐ญ๐ฌ ๐๐ซ๐ข๐ฏ๐ข๐ง๐  ๐ฌ๐ฎ๐œ๐œ๐ž๐ฌ๐ฌ.

Past Size and Competitive Landscape
โ€ข Past Pricing and price curve by region
โ€ข Size, Share, Size Forecast by different segment
โ€ข Dynamics Growth Drivers, Restraints, Opportunities, and Key Trends by Region
โ€ข Segmentation A detailed analysis by segment with their sub-segments and Region
โ€ข Competitive Landscape Profiles of selected key players by region from a strategic perspective

๐‚๐ก๐ž๐œ๐ค ๐จ๐ฎ๐ญ ๐จ๐ฎ๐ซ ๐ญ๐ซ๐ž๐ง๐๐ข๐ง๐  ๐ฌ๐ญ๐ฎ๐๐ข๐ž๐ฌ ๐ญ๐จ ๐ฎ๐ง๐๐ž๐ซ๐ฌ๐ญ๐š๐ง๐ ๐ข๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐ฌ๐ก๐ข๐Ÿ๐ญ๐ฌ :

โ™ฆ Online Video Platform Market https://www.maximizemarketresearch.com/market-report/global-online-video-platform-market/22115/

โ™ฆ Global Train Seat Market https://www.maximizemarketresearch.com/market-report/global-train-seat-market/69894/

โ™ฆ Video Conferencing Market https://www.maximizemarketresearch.com/market-report/global-video-conferencing-market/63052/

โ™ฆ Global Dairy Alternatives Market https://www.maximizemarketresearch.com/market-report/global-dairy-alternatives-market/25430/

โ™ฆ Cloud Billing Market https://www.maximizemarketresearch.com/market-report/cloud-billing-market/13974/

โ™ฆ eDiscovery Market https://www.maximizemarketresearch.com/market-report/ediscovery-market/13757/

โ™ฆ Global Persulfates Market https://www.maximizemarketresearch.com/market-report/global-persulfates-market/4203/

โ™ฆ Automotive Market in Germany https://www.maximizemarketresearch.com/market-report/automotive-market-in-germany/86571/

โ™ฆ Global Edutainment Market https://www.maximizemarketresearch.com/market-report/global-edutainment-market/42042/

๐€๐›๐จ๐ฎ๐ญ ๐”๐ฌ

Maximize Market Research is one of the fastest-growing market research and business consulting firms serving clients globally. Our revenue impact and focused growth-driven research initiatives make us a proud partner of majority of the Fortune 500 companies. We have a diversified portfolio and serve a variety of industries such as IT & telecom, chemical, food & beverage, aerospace & defense, healthcare and others.

๐‘๐ž๐š๐œ๐ก ๐Ž๐ฎ๐ญ ๐ญ๐จ ๐Œ๐š๐ฑ๐ข๐ฆ๐ข๐ณ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐Ÿ๐จ๐ซ ๐ˆ๐ง-๐ƒ๐ž๐ฉ๐ญ๐ก ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ ๐š๐ง๐ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐ˆ๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ :

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