info@marketresearchfuture.com   📞  +1 (855) 661-4441(US)   📞  +44 1720 412 167(UK)
Certified Global Research Member
Isomar fd.webp Wcrc 57.webp
Key Questions Answered
  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
Why Choose Market Research Future?
  • Vigorous research methodologies for specific market.
  • Knowledge partners across the globe
  • Large network of partner consultants.
  • Ever-increasing/ Escalating data base with quarterly monitoring of various markets
  • Trusted by fortune 500 companies/startups/ universities/organizations
  • Large database of 5000+ markets reports.
  • Effective and prompt pre- and post-sales support.

Basalt Fiber Market Share

ID: MRFR//6435-HCR | 140 Pages | Author: Chitranshi Jaiswal| October 2024

Basalt fiber is a versatile material with a wide range of applications, including construction, automotive, aerospace, and electronics industries. As the market for basalt fiber continues to grow, companies must develop effective market share positioning strategies to stay competitive and capture a larger share of the market.
Basalt composites are non-destructive, comprise 80% filaments, and have an elasticity multiple times that of the steel bar regularly utilized in building development. The Basalt filaments confer solidarity to the rebar while the tar holds the strands immovably. In contrast with steel rebar, BFRP (basalt fiber supported plastic) rebar altogether works on the existence of structural designing constructions where consumption is a central point.
One key strategy for companies in the basalt fiber market is differentiation. By offering unique features or benefits that set their products apart from competitors, companies can attract customers and command higher prices. For example, some companies may focus on developing basalt fiber with enhanced strength or durability, while others may prioritize sustainability and environmental friendliness in their production processes. By clearly communicating these unique selling points to customers, companies can position themselves as leaders in specific niches within the basalt fiber market.

Another important strategy is targeting specific market segments. Rather than trying to appeal to all customers, companies can focus their efforts on serving the needs of particular industries or applications where basalt fiber offers the most value. For instance, a company may target the automotive industry by developing lightweight basalt fiber composites for use in vehicle components, or they may focus on the construction industry by offering high-performance reinforcement materials for infrastructure projects. By tailoring their products and marketing efforts to the needs of these target segments, companies can more effectively penetrate the market and gain market share.

In addition to differentiation and targeting, companies in the basalt fiber market can also pursue strategies aimed at expanding their distribution channels and geographic reach. By partnering with distributors and retailers in key markets, companies can increase the availability of their products and reach a broader customer base. This may involve establishing partnerships with local distributors in international markets or expanding into new regions where demand for basalt fiber is growing. By expanding their distribution channels and geographic reach, companies can increase their market penetration and capture a larger share of global demand for basalt fiber.

Furthermore, investing in research and development (R&D) is essential for companies looking to maintain their market share positioning in the basalt fiber market. By continually innovating and improving their products, companies can stay ahead of competitors and meet the evolving needs of customers. This may involve developing new manufacturing techniques to reduce production costs, enhancing product performance through advanced materials engineering, or exploring new applications for basalt fiber in emerging industries. By investing in R&D, companies can strengthen their competitive position and ensure long-term success in the market.

Lastly, building strong relationships with customers and providing excellent customer service is critical for companies in the basalt fiber market. By listening to customer feedback, addressing concerns promptly, and delivering high-quality products consistently, companies can foster loyalty and repeat business. Additionally, providing technical support and assistance to customers can help differentiate a company's offerings and create added value for customers. By building strong relationships with customers, companies can establish themselves as trusted partners and maintain their market share positioning in the highly competitive basalt fiber market.

Covered Aspects:

Report Attribute/Metric Details
Base Year For Estimation 2023
Forecast Period 2024-2032
Growth Rate 9.06% (2024-2032)

Global Basalt Fiber Market Overview


Basalt Fiber Market Size was valued at USD 0.33 billion in 2023. The Basalt Fiber industry is projected to grow from USD 0.36 Billion in 2024 to USD 0.73 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.06% during the forecast period (2024 - 2032). Increasing adoption in an array of applications across various end-use industries such as automotive construction marine aerospace & defense and chemical are key market drivers enhancing market growth


                    Basalt Fiber Market Share


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Basalt Fiber Market Trends




  • Increasing demand from various industries driving the market growth




Basalt fiber is a versatile material that is gaining popularity in various industries due to its superior properties. Its excellent tensile strength, high thermal resistance, and durability make it suitable for use in numerous applications across different industries. As a result, the demand for basalt fiber is growing rapidly, driven by the increasing demand from various industries. One of the primary industries that are driving the demand for basalt fiber is the automotive industry. With the growing emphasis on reducing vehicle weight and improving fuel efficiency, basalt fiber is being increasingly used in the manufacturing of automotive components. It is used in the production of body panels, bumpers, and other parts, which reduces the overall weight of the vehicle.


The construction industry is another significant driver of the basalt fiber market. Basalt fiber is used in the production of concrete reinforcement, insulation, and flooring, where it offers superior mechanical and thermal properties, durability, and resistance to chemicals. The aerospace industry is also consumer of basalt fiber due to its high strength-to-weight ratio, thermal stability, and resistance to impact and fatigue. It is used in the manufacturing of aircraft and spacecraft components such as wings, fuselage, and heat shields. Therefore, the increasing demand from these industries, along with the growing awareness of the benefits of basalt fiber over other materials, is driving the growth of the basalt fiber market. With continued research and development, new applications for basalt fiber are likely to emerge, further fueling its demand in various industries.. Thus, driving the Basalt Fiber market revenue.


Also, Basalt fiber is made from volcanic rock, which is abundant in nature and does not require the use of toxic chemicals during its production process. This makes it a more sustainable and environmentally friendly alternative to traditional materials such as fiberglass and carbon fiber. The increasing focus on sustainability and environmental concerns has led to the adoption of basalt fiber in various industries such as construction, transportation, and consumer goods. In the construction industry, basalt fiber is used in the production of eco-friendly building materials such as insulation, roofing, and wall panels. In the transportation industry, it is used in the manufacturing of lightweight and fuel-efficient vehicles.


The demand for sustainable and eco-friendly products is also increasing among consumers, which is driving the demand for basalt fiber in the consumer goods industry. Basalt fiber is used in the production of clothing, shoes, and sports equipment, where it offers superior strength, durability, and thermal properties compared to traditional materials. The sustainable and eco-friendly properties of basalt fiber make it an attractive choice for businesses and consumers looking for more environmentally responsible alternatives. As a result, the demand for basalt fiber is expected to continue to grow in the coming years, driven by the increasing awareness of sustainable materials and their benefits.


Basalt Fiber Market Segment Insights:


Basalt Fiber Form Insights


Based on the form, the  Basalt Fiber market segmentation includes continuous and discrete. The continuous segment dominated the market. Continuous basalt fiber (CBF) is produced by melting basalt rock at high temperatures and then drawing the molten material into fibers using a spinneret. These fibers are then treated and wound onto spools, forming a continuous yarn. CBF is used in various applications, including construction, aerospace, automotive, and electrical and electronics. The increasing demand from various industries, along with the advantages offered by the continuous form of basalt fiber, is driving the growth of this segment in the market. With the growing focus on lightweight and high-strength materials, the demand for continuous basalt fiber is expected to increase further in the coming years, leading to the dominance of this segment in the  basalt fiber market.


Figure 1: Basalt Fiber Market by Form, 2022 & 2032 (USD billion)                      Basalt Fiber Market by Form


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Basalt Fiber Product Type Insights


Based on the product type, the  Basalt Fiber market segmentation includes roving, chopped strands, fabric, mesh and  grid, mats and others. The roving segment dominated the market. Roving is a type of continuous basalt fiber that is used in various applications, including construction, transportation, electrical and electronics, and others. It is a high-strength material that offers excellent thermal and chemical resistance, making it suitable for use in harsh environments. Roving is used in the production of composites, reinforcing materials, and other products that require high strength and durability.


Basalt Fiber End-Use Insights


Based on the end-use, the  Basalt Fiber market segmentation includes Construction, Automotive, Aerospace & Defense, Electrical & Electronics, Chemical, and Marine. The construction segment dominated the market. Construction industry to produce various products such as insulation, roofing, and wall panels. It is an eco-friendly and sustainable alternative to traditional materials such as fiberglass and carbon fiber. Basalt fiber offers superior thermal and acoustic insulation properties, high strength, and durability, making it an ideal choice for use in construction applications.


Basalt Fiber Regional Insights


By Region, the study provides market insights into North America, Europe, Asia-Pacific and Rest of the World. The Europe Basalt Fiber market will dominate due to increasing demand for lightweight and sustainable materials in various industries. Also, increasing demand for lightweight and durable materials in the automotive and aerospace industries is one of the key factor driving demand in the region. Basalt fiber has excellent properties such as high strength, low weight, and resistance to heat and chemicals, making it an ideal material for these applications. Further, the German Basalt Fiber market held the largest market share, and the UK Basalt Fiber market was the fastest-growing market in the European region.


Further, the major countries studied in the market report are The U.S., Canada, German, the UK, France, Spain, Italy, China, Japan, India, Australia, South Korea, and Brazil.


Figure 2: BASALT FIBER MARKET SHARE BY REGION 2022 (%)                    BASALT FIBER MARKET SHARE BY REGION 2022


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


North America Basalt Fiber market accounts for the second-largest market share., owing to the increasing demand for sustainable and eco-friendly materials. Basalt fiber is a natural and recyclable material, which makes it an attractive option for companies looking to reduce their environmental impact.


The Asia-Pacific Basalt Fiber Market is anticipated to develop at the fastest CAGR from 2023 to 2032. This is due to growing demand from various end-use industries such as construction, automotive, and aerospace. The region is expected to witness significant growth during the forecast period due to the increasing focus on sustainable materials and the growing demand for high-strength and lightweight materials. Moreover, China’s Basalt Fiber market held the largest market share, and the Indian Basalt Fiber market was the fastest-growing market in the Asia-Pacific region.


Basalt Fiber Key Market Players & Competitive Insights


Leading market players are investing heavily in research and development to expand their product lines, which will help the Basalt Fiber market, grow even more. Market participants are also undertaking several strategic activities to increase their  footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The Basalt Fiber industry must offer innovative products to expand and survive in a more competitive and rising market climate.


Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the  Basalt Fiber industry to benefit clients and increase the market sector. In recent years, the Basalt Fiber industry has offered some of the most significant advantages to the market. Major players in the Basalt Fiber market are Kamenny Vek (Russia), Galen Ltd (Russia), Technobasalt Invest LLC (Ukraine), Albarrie Canada Limited (Canada), Zhejiang GBF Basalt Fiber Co. Ltd (China), Sudaglass Fiber Technology (China), Mafic SA (Ireland), Shanxi Basalt Fiber Technology Co. Ltd (China), Basaltex (Belgium), Jiangsu Tianlong Continuous Basalt Fiber Co. Ltd (China), INCOTELOGY GmbH (Germany), Mudanjiang Basalt Fiber Co. Ltd (China), and others, are attempting to increase.


Sudaglass Fiber Technology is a leading manufacturer of basalt fiber products based in Turkey. The company was founded in 2007. It offers a wide range of basalt fiber products, including rovings, chopped strands, fabrics, mats, and other specialty products. The company's products are used in various industries, including construction, automotive, aerospace, and marine. For instance, in May 2021, Sudaglass Fiber Technology announced the launch of a new range of basalt fiber products designed for use in the concrete reinforcement industry. The new products, which include basalt fiber bars and grids, are designed to provide high-strength and corrosion-resistant reinforcement solutions for concrete structures.


Kamenny Vek is a leading  manufacturer of basalt fiber products based in Russia. It offers a wide range of basalt fiber products, including rovings, chopped strands, fabrics, mats, and other specialty products. The company's products are used in various industries, including construction, automotive, aerospace, and marine. For instance, in April 2021, Kamenny Vek has announced the expansion of its production capacity with the construction of a new plant in the Republic of Bashkortostan, Russia. The new plant is expected to have a production capacity of 11,000 tons per year and will increase the company's overall production capacity to over 19,000 tons per year.


Key Companies in the Basalt Fiber market include



  • Kamenny Vek (Russia)

  • Galen Ltd (Russia)

  • Technobasalt Invest LLC (Ukraine)

  • Albarrie Canada Limited (Canada)

  • Zhejiang GBF Basalt Fiber Co. Ltd (China)

  • Sudaglass Fiber Technology (China)

  • Mafic SA (Ireland)

  • Shanxi Basalt Fiber Technology Co. Ltd (China)

  • Basaltex (Belgium)

  • Jiangsu Tianlong Continuous Basalt Fiber Co. Ltd (China)

  • INCOTELOGY GmbH (Germany)

  • Mudanjiang Basalt Fiber Co. Ltd (China)

  • Basalt Fiber Tech

  • Deutsche Basalt Faser GmbH

  • Jumeisheng

  • Basalt Fibers

  • China Beihai Fiberglass Co., Ltd.

  • LAVAintel


Basalt Fiber Industry Developments


In January 2022, Basaltex, a leading producer of basalt fiber products based in Belgium, launched a new range of basalt fiber fabrics designed for the aerospace and automotive industries. The new fabrics are lightweight, high-strength, and resistant to high temperatures, making them ideal for use in the production of composites for aerospace and automotive applications.


In December 2021, Technobasalt-Invest, a Ukrainian manufacturer of basalt fiber products, announced a collaboration with the Belarusian company BelAZ, one of the world's largest manufacturers of mining dump trucks. The collaboration aims to develop and produce new composite materials using basalt fiber for use in the mining industry, providing high-strength and lightweight solutions to improve the efficiency and safety of mining operations.


In March 2021, Mafic USA, a leading producer of basalt fiber products, announced a partnership with Ulbrich Stainless Steels & Special Metals, a  supplier of stainless steel and special metals. The partnership aims to develop new and innovative products using basalt fiber and stainless steel, leveraging the strengths of both companies to provide high-performance solutions to various industries.


Basalt Fiber Market Segmentation:


Basalt Fiber Form Outlook



  • Continous

  • Discrete


Basalt Fiber Product Type Outlook



  • Roving

  • Chopped Strands

  • Fabric

  • Mesh and Grid

  • Mats

  • Others


Basalt Fiber End-use Outlook



  • Construction

  • Automotive

  • Aerospace & Defense

  • Electrical & Electronics

  • Chemical

  • Marine


Basalt Fiber Regional Outlook



  • North America

    • US

    • Canada



  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe



  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific



  • Rest of the World

    • Middle East

    • Africa

    • Latin America



Leading companies partner with us for data-driven Insights
client_1 client_2 client_3 client_4 client_5 client_6 client_7 client_8 client_9 client_10
Kindly complete the form below to receive a free sample of this Report
Please fill in Business Email for Quick Response

We do not share your information with anyone. However, we may send you emails based on your report interest from time to time. You may contact us at any time to opt-out.

Purchase Option
Single User $ 4,950
Multiuser License $ 5,950
Enterprise User $ 7,250
Compare Licenses
Tailored for You
  • Dedicated Research on any specifics segment or region.
  • Focused Research on specific players in the market.
  • Custom Report based only on your requirements.
  • Flexibility to add or subtract any chapter in the study.
  • Historic data from 2014 and forecasts outlook till 2040.
  • Flexibility of providing data/insights in formats (PDF, PPT, Excel).
  • Provide cross segmentation in applicable scenario/markets.