Press Resease

Continuous Basalt Fiber Market - By Application (Molded Materials, Transportation, Electronics, Building & construction, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028

Published Date: 05-May-2021 Category: Chemical & Materials Report Format : PDF Pages: 135 Report Code: ZMR-133 Status : Published

The global continuous basalt fiber market accounted for USD 136 Million in 2020 and is expected to reach USD 360 Million by 2028, growing at a CAGR of 11.3% from 2021 to 2028.

Description

Market Overview

The global continuous basalt fiber market accounted for USD 136 Million in 2020 and is expected to reach USD 360 Million by 2028, growing at a CAGR of 11.3% from 2021 to 2028.

Basalt fibers are fine basalt fibers that comprise minerals plagioclase, olivine, and pyroxene. Basalt fibers exhibit similar properties that of fiberglass along with higher physical and mechanical characteristics. Basalt fibers are primarily utilized as fireproof textile material in various industries including automotive, transportation, aerospace, and construction. Continuous basalt fibers are manufactured from basalt rock with uses in composites and construction industry.

Continuous basalt fibers are utilized in an array of applications such as constructional materials, heat isolation material, composite materials, sound isolation materials, and electro-insulation materials. Continuous basalt fibers are seen as substitute for glass fiber as these have higher strength and chemical and temperature stability. 

COVID-19 Impact Analysis

The global continuous basalt fiber market growth was hindered during COVID-19 crisis in 2020 pertaining to travel and trade restrictions imposed by governments. Such trade and operational restrictions have hampered the production output of industries like construction, electronics, automotive, and transportation. Significant decrease in the production from different industries has hampered the demand for continuous basalt fiber, in turn, hindering market growth. However, easing trade and lockdown restrictions are expected to boost industrial production and trade worldwide, which likely to stimulate market growth.

Growth Factors

Increasing demand for high strength and durable materials from industries like construction, building, and composite has driven the adoption of innovative materials. There has been increasing demand for chemical and temperature resistant fibers for producing sound and heat isolation materials and fire-resistant materials. Growing construction industry worldwide owing to rising investment in infrastructure and commercial and industrial construction activities in urban areas has bolstered the demand for continuous basalt fiber market growth.

Continuous basalt fibers are also used for building heat and sound insulation in automotive, aerospace, and power industries. Rise in the number of vehicles sales has accelerated the demand for raw materials required for constructing insulations. Increase in the production output of automotive and aerospace sectors should augment the demand for basalt fibers. Further, there has been significant growth in the consumption of low cost fibers that can be used as substitute for carbon fibers and fiberglass, which may also stimulate the continuous basalt fibers market growth.

Report Scope:

Application Segment Analysis Preview

In terms of applications, the molded materials segment held a majority of the market in 2020. Continuous basalt fibers are utilized in manufacturing of wide range of materials where chemical and temperature stability and high physical strength. There has been increase in the consumption of high strength and low weight materials has soared in various industry verticals due to growing use of high-quality products. This trend is expected to boost market growth in molded material applications.

The building and constructions segment is expected to record highest growth rate over the forecasted period 2020-2028. Continuous basalt fibers are used in construction applications for increasing tensile strength of temperature filters, reinforcing nets, and geo textiles. Rising use of continuous basalt fibers in building and construction applications is attributable to growth in the construction of commercial buildings, roads, and highways, which has driven the use of geo textiles and composite materials. These trends are expected to generate new opportunities for the global market.

Regional Analysis Preview

The Asia Pacific region dominated the global continuous basalt fiber market in 2020, accounting for a market share of 55%. Rising urbanization in developing countries such as India and China proliferated the demand for construction materials in the region. This growth in the demand for construction materials should propel market growth. Moreover, rising investment in developing infrastructure and facilities have also driven the demand for reinforcement materials and geotextiles. This growth in the consumption of reinforcement materials and geotextiles is likely to contribute to the market growth.

North American region constituted second largest share a market share in the global continuous basalt fiber market in 2020. There has been rapid adoption on high-quality materials in various industry verticals such as aerospace, automotive, composites, and construction has been a major growth driving factor for the North America continuous basalt fiber market.

Key Market Players & Competitive Landscape

Some of key players in continuous basalt fiber market are Zhejiang GBF Basalt Fiber Co., LTD, Sudaglass and Basaltex NV., Technobasalt Invest LLC, Mudanjiang Jinshi Basalt Fiber Co., Ltd., Kamenny Vek, Ltd, Shanxi Basalt Fibre Technology Co., Ltd, Yingkou Hongyuan Fiberglass Technology Co., Mafic SA, and Technobasalt Invest LLC.

The global continuous basalt fiber market is segmented as follows:

By Application Type

  • Molded Materials
  • Transportation
  • Electronics
  • Building & Construction
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter No. 1 Introduction
    • 1.1. Report Description
      • 1.1.1. Purpose of the Report
      • 1.1.2. USP & Key Offerings
    • 1.2. Key Benefits for Stakehulders
    • 1.3. Target Audience
    • 1.4. Report Scope
  • Chapter No. 2 Executive Summary
    • 2.1. Key Findings
      • 2.1.1. Top Investment Pockets
        • 2.1.1.1. Market Attractiveness Analysis, By Application
        • 2.1.1.2. Market Attractiveness Analysis, By Region
    • 2.2. Market Snapshot
    • 2.3. Global Continuous Basalt Fiber Market, 2016 – 2028 (USD Million)
    • 2.4. Insights from Primary Respondents
  • Chapter No. 3 COVID 19 Impact Analysis
    • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
      • 3.1.1. North America
      • 3.1.2. Europe
      • 3.1.3. Asia Pacific
      • 3.1.4. Latin America
      • 3.1.5. The Middle-East and Africa
    • 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
    • 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Million)
    • 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Million)
    • 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
      • 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
    • 3.6. Short Term Dynamics
    • 3.7. Long Term Dynamics
  • Chapter No. 4 Continuous Basalt Fiber Market – Application Segment Analysis
    • 4.1. Overview
      • 4.1.1. Market Revenue Share, By Application, 2020 & 2028
    • 4.2. Mulded Materials
      • 4.2.1. Market Size and Forecast, By Region (USD Million)
      • 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.3. Transportation
      • 4.3.1. Market Size and Forecast, By Region (USD Million)
      • 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.4. Electronics
      • 4.4.1. Market Size and Forecast, By Region (USD Million)
      • 4.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.5. Building & Construction
      • 4.5.1. Market Size and Forecast, By Region (USD Million)
      • 4.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 4.5. Others
      • 4.5.1. Market Size and Forecast, By Region (USD Million)
      • 4.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.5.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 5 Continuous Basalt Fiber Market – Regional Analysis
    • 5.1. Overview
      • 5.1.1. Global Market Revenue Share, By Region, 2020 & 2028
      • 5.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Million)
    • 5.2. North America
      • 5.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 5.2.2. North America Market Revenue, By Application, 2016 – 2028
      • 5.2.3. U.S.
        • 5.2.3.1. U.S. Market Revenue, By Application, 2016 – 2028
      • 5.2.4. Canada
        • 5.2.4.1. Canada Market Revenue, By Application, 2016 – 2028
      • 5.2.5. Mexico
        • 5.2.5.1. Mexico Market Revenue, By Application, 2016 – 2028
    • 5.3. Europe
      • 5.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 5.3.2. Europe Market Revenue, By Application, 2016 – 2028
      • 5.3.3. Germany
        • 5.3.3.1. Germany Market Revenue, By Application, 2016 – 2028
      • 5.3.4. France
        • 5.3.4.1. France Market Revenue, By Application, 2016 – 2028
      • 5.3.5. U.K.
        • 5.3.5.1. U.K. Market Revenue, By Application, 2016 – 2028
      • 5.3.6. Italy
        • 5.3.6.1. Italy Market Revenue, By Application, 2016 – 2028
      • 5.3.7. Spain
        • 5.3.7.1. Spain Market Revenue, By Application, 2016 – 2028
      • 5.3.8. Rest of Europe
        • 5.3.8.1. Rest of Europe Market Revenue, By Application, 2016 – 2028
    • 5.4. Asia Pacific
      • 5.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 5.4.2. Asia Pacific Market Revenue, By Application, 2016 – 2028
      • 5.4.3. China
        • 5.4.3.1. China Market Revenue, By Application, 2016 – 2028
      • 5.4.4. Japan
        • 5.4.4.1. Japan Market Revenue, By Application, 2016 – 2028
      • 5.4.5. India
        • 5.4.5.1. India Market Revenue, By Application, 2016 – 2028
      • 5.4.6. South Korea
        • 5.4.6.1. South Korea Market Revenue, By Application, 2016 – 2028
      • 5.4.7. South-East Asia
        • 5.4.7.1. South-East Asia Market Revenue, By Application, 2016 – 2028
      • 5.4.8. Rest of Asia Pacific
        • 5.4.8.1. Rest of Asia Pacific Market Revenue, By Application, 2016 – 2028
    • 5.5. Latin America
      • 5.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 5.5.2. Latin America Market Revenue, By Application, 2016 – 2028
      • 5.5.3. Brazil
        • 5.5.3.1. Brazil Market Revenue, By Application, 2016 – 2028
      • 5.5.4. Argentina
        • 5.5.4.1. Argentina Market Revenue, By Application, 2016 – 2028
      • 5.5.5. Rest of Latin America
        • 5.5.5.1. Rest of Latin America Market Revenue, By Application, 2016 – 2028
    • 5.6. The Middle-East and Africa
      • 5.6.1. The Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 5.6.2. The Middle-East and Africa Market Revenue, By Application, 2016 – 2028
      • 5.6.3. GCC Countries
        • 5.6.3.1. GCC Countries Market Revenue, By Application, 2016 – 2028
      • 5.6.4. South Africa
        • 5.6.4.1. South Africa Market Revenue, By Application, 2016 – 2028
      • 5.6.5. Rest of Middle-East Africa
        • 5.6.5.1. Rest of Middle-East Africa Market Revenue, By Application, 2016 – 2028
  • Chapter No. 6 Continuous Basalt Fiber Market – Industry Analysis
    • 6.1. Introduction
    • 6.2. Market Drivers
      • 6.2.1. Driving Factor 1 Analysis
      • 6.2.2. Driving Factor 2 Analysis
    • 6.3. Market Restraints
      • 6.3.1. Restraining Factor Analysis
    • 6.4. Market Opportunities
      • 6.4.1. Market Opportunity Analysis
    • 6.5. Porter’s Five Forces Analysis
    • 6.6. PEST Analysis
    • 6.7. Regulatory Landscape
    • 6.8. Technulogy Landscape
    • 6.9. Regional Market Trends
      • 6.9.1. North America
      • 6.9.2. Europe
      • 6.9.3. Asia Pacific
      • 6.9.4. Latin America
      • 6.9.5. The Middle-East and Africa
    • 6.10. Pricing Analysis
    • 6.11. Value Chain Analysis
    • 6.12. Downstream Buyers
    • 6.13. Distributors/Traders List
  • Chapter No. 7 Competitive Landscape
    • 7.1. Company Market Share Analysis – 2019
      • 7.1.1. Global Continuous Basalt Fiber Market: Company Market Share, 2019
      • 7.1.2. Global Continuous Basalt Fiber Market, Company Market Revenue, 2016 – 2019 (USD Million)
      • 7.1.3. Global Continuous Basalt Fiber Market, Company Y-o-Y Growth, 2017 – 2019 (%)
      • 7.1.4. Global Continuous Basalt Fiber Market: Radar Determinant Chart, 2019
    • 7.2. Strategic Developments
      • 7.2.1. Acquisitions & Mergers
      • 7.2.2. New Product Launch
      • 7.2.3. Regional Expansion
    • 7.3. Company Strategic Developments – Heat Map Analysis
  • Chapter No. 8 Company Profiles
    • 8.1. Zhejiang GBF Basalt Fiber Co., LTD
      • 8.1.1. Company Overview
      • 8.1.2. Key Executives
      • 8.1.3. Product Portfulio
      • 8.1.4. Financial Overview
      • 8.1.5. Operating Business Segments
      • 8.1.6. Business Performance
      • 8.1.7. Recent Developments
    • 8.2. Sudaglass
    • 8.3. Basaltex NV.
    • 8.4. Technobasalt Invest LLC
    • 8.5. Mudanjiang Jinshi Basalt Fiber Co., Ltd.
    • 8.6. Kamenny Vek, Ltd
    • 8.7. Shanxi Basalt Fibre Technulogy Co. Ltd.
    • 8.8. Yingkou Hongyuan Fiberglass Technulogy Co.
    • 8.9. Mafic SA
    • 8.10. Technobasalt Invest LLC
  • Chapter No. 9 Marketing Strategy Analysis
    • 9.1. Marketing Channel
    • 9.2. Direct Marketing
    • 9.3. Indirect Marketing
    • 9.4. Marketing Channel Development Trends
    • 9.5. Economic/Pulitical Environmental Change
  • Chapter No. 10 Research Methodulogy
    • 10.1. Research Methodulogy
    • 10.2. Phase I - Secondary Research
    • 10.3. Phase II - Data Modeling
      • 10.3.1. Company Share Analysis Model
      • 10.3.2. Revenue Based Modeling
    • 10.4. Phase III - Primary Research
    • 10.5. Research Limitations
      • 10.5.1. Assumptions

Methodology

This report is based on in-depth qualitative and quantitative analyses of the global Continuous Basalt Fiber market. Zion Research has collected and analyzed key data belong to the global Continuous Basalt Fiber market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.

The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined afterconducting a detailed study of the micro and macroeconomic indicators of the market.

Various parameters have been taken into account, while estimating market size. The revenue generated by the leading industry participants in from the sales of Continuous Basalt Fiber across the world has been calculated through primary and secondary research.

Zion Research employs combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include, STATISTA, trade journals, trade associations, statistical data from government websites, etc. 

For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assistedin validation of findings from secondary research and to understand key trends in the Continuous Basalt Fiber industry. Primary research makes up major source of data collection and validation.   

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

  • Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
  • Helps in validating and strengthening the secondary research findings
  • Further develops the analysis team’s expertise and market understanding
  • Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • IDC and other relevant magazines
  • Internal and external proprietary databases, and relevant patent and regulatory databases
  • National government documents, statistical databases and market reports

News articles, press releases and webcasts specific to companies operating in the market

Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Continuous Basalt Fiber market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

  • Demographic data: Population split by segments
  • Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
  • Industry indicators: Expenditure, technology stage and infrastructure, sector growth and facilities
  • Data is then cross-checked by an expert panel.

Free Analysis

Basalt fiber is a material obtained from very fine fibers of basalt, which is composed of the plagioclase, pyroxene, and olivine. Basalt fiber manufactured by melting basalt rocks at high temperature. In aerospace and automotive industries, basalt fiber is used as a fireproof textile and can also be used as a composite to produce products such as camera tripods. Basalt fiber has various applications in building & construction, automotive, electronics, marine, wind energy, and others sectors. There are two types of basalt fibers available such as continuous and discrete. From these, continuous basal fiber is more efficient and eco-friendly and it can be processed to have higher tensile strength.

A key application of continuous basalt fiber includes molded materials, transportation, electronics, building & construction and other applications like sports equipment, defense, space and aeronautic components. Building & construction accounted for more than 37% of the global continuous basalt fiber market in 2012. Growing population demands for advanced services in developing as well as the developed economies. This plays the major role in the growth of continuous basalt fiber market. Increasing demand for continuous basalt fiber from the transportation and electronics equipment is another factor contributing to the high demand for continuous basalt fiber globally. Growing market of sports equipment is also expected to contribute to the growth of global continuous basalt fiber market during the forecast period.

Global continuous basalt fiber was dominated by the North America region with a market share of almost 40%. The continuous basalt fiber market in EMEA region is expected to grow at a rapid pace during the forecast period. The EMEA region is followed by the Asia Pacific. Asia Pacific is expected to be the fastest growing market for continuous basalt fiber during the forecast period.

Global continuous basalt fiber market is highly competitive, with the presence of well-established global vendors. Some prominent market players operating in this market includes Basaltex (Belgium), Sudaglass Fiber Technology (U.S.), Kamenny Vek (Russia), Zhejiang GBF Basalt Fiber Co., Ltd (China), Technobasalt (U.S.), Shanxi Basalt Fiber Technology Co., Ltd (China), JiangSu TianLong Continuous Basalt Fiber High-tech Co., Ltd. (China), GMVChina (China), Mafic SA (Luxembourg) and Mineral 7 (Ukraine).


Frequently Asked Questions

The global continuous basalt fiber market was valued at USD 136 Million in 2020.

The global continuous basalt fiber market is expected to reach USD 360 Million by 2028, growing at a CAGR of 11.3% from 2021 to 2028.

Increasing demand for high strength and durable materials from industries like construction, building, and composite has driven the adoption of innovative materials. There has been increasing demand for chemical and temperature resistant fibers for producing sound and heat isolation materials and fire-resistant materials. Growing construction industry worldwide owing to rising investment in infrastructure and commercial and industrial construction activities in urban areas has bolstered the demand for continuous basalt fiber market growth.

The Asia Pacific region dominated the global continuous basalt fiber market in 2020, accounting for a market share of 55%. Rising urbanization in developing countries such as India and China proliferated the demand for construction materials in the region. This growth in the demand for construction materials should propel market growth. Moreover, rising investment in developing infrastructure and facilities have also driven the demand for reinforcement materials and geotextiles. This growth in the consumption of reinforcement materials and geotextiles is likely to contribute to the market growth.

Some of key players in continuous basalt fiber market are Zhejiang GBF Basalt Fiber Co., LTD, Sudaglass and Basaltex NV., Technobasalt Invest LLC, Mudanjiang Jinshi Basalt Fiber Co., Ltd., Kamenny Vek, Ltd, Shanxi Basalt Fibre Technology Co., Ltd, Yingkou Hongyuan Fiberglass Technology Co., Mafic SA, and Technobasalt Invest LLC.

}