Basalt Fibre Market Size, Share, Opportunities, And Trends By Product Type (Roving, Fabric, Mesh And Grids, Chopped Strands, Others), By Form (Up Continuous Basalt Fibers, Super Thin Basalt Fibers, Staple Thin Basalt Fibers, Basalt Scale & Materials), By Application (Composites, Non-Composites), By End-User (Automotive & Transportation, Electrical & Electronics, Marine, Construction & Infrastructure, Wind Energy, Others), And By Geography - Forecasts From 2024 To 2029

The basalt fibre market is projected to show steady growth during the forecast period.

Basalt rock is a natural volcanic rock and basalt fiber is made by melting this rock at high temperatures and extruding it into fine fibers. These fibers are coated with a sizing agent to improve adhesion. Basalt fiber is known for its high strength, durability, and resistance to heat and chemicals. Its tensile strength makes it suitable for various applications requiring robust materials. These fibers can withstand high temperatures without losing structural integrity, making them ideal for industries with high heat resistance. They also exhibit corrosion resistance from chemicals, making them suitable for harsh environments. Basalt fibers are lightweight, making them suitable for applications where weight is a critical factor. They are also environmentally friendly, with fewer environmental impacts compared to other synthetic fibers. The basalt fiber market, involving the production, distribution, and consumption of basalt fibers and related products, will be experiencing growth due to the growing demand for high-performance, sustainable materials in various industries.

Market Drivers

• A rise in the utilization of basalt fibers as an alternative would surge the basalt fibre market growth.

Basalt fibers, derived from volcanic rock, are gaining popularity as an eco-friendly alternative to traditional materials like steel and fiberglass. These fibers offer high tensile strength, durability, resistance to heat and corrosion, and low environmental impact. Industries like construction, automotive, aerospace, marine, and sports equipment manufacturing are increasingly using them for lightweight yet robust materials. The rise in environmental consciousness and the need for resilient materials to meet stringent performance requirements are driving the basalt fiber market growth. Research and development initiatives are enhancing the diverse applications of basalt fibers, solidifying their position as a promising and sustainable alternative. For instance, in November 2021, Kamenny Vekt started using new raw materials for producing thick rovings at a plant in Kimry. The new materials have slightly higher silicon and aluminum oxide content, making the basalt fiber closer to S2 glass. This increases the fiber's mechanical characteristics and allows for increased minimum tenacity values. The lower iron oxide content affects the fiber's color but will continue to be produced from old raw materials at the plant in Dubna.

• Incorporation of basalt fiber products in construction is anticipated in the basalt fibre market growth

Basalt fiber products are increasingly being used in construction due to their unique properties, offering a sustainable and durable alternative to traditional materials like steel. They are commonly used in the production of basalt fiber reinforced concrete (BFRC), which enhances tensile strength, durability, and crack resistance. This is particularly beneficial in infrastructure projects like bridges, tunnels, and roadways. As sustainability becomes a priority, the use of basalt fiber products aligns with the growing emphasis on environmentally friendly building materials, and this trend is expected to continue.  For instance, Basfiber® is a popular choice for the construction industry due to its unique combination of properties. Its alkali-resistant sizings KV-13, KV-42, and KV-41 are developed specifically for construction applications, providing excellent alkali resistance and compatibility with concrete and resins used in rebar and other composite products. These fibers also have higher mechanical properties than E-glass. They are more affordable than other alkali-resistant fibers, making them an excellent and affordable alternative to current market-leading alkali-resistant fibers.

• Increasing adaptability in the automobile sector would bolster the basalt fibre market growth.

Basalt fiber is gaining popularity in the automotive industry due to its strength, durability, and lightweight properties. It is used in lightweight components, composites, thermal resistance, and noise reduction. Basalt fibers are corrosion-resistant, making them suitable for harsh environmental conditions. Further research is needed to optimize their use in vehicle manufacturing. For Instance, In January 2024, The International Organization of Motor Vehicle Manufacturers (OICA) reported a 0.5% year-on-year increase in new vehicle sales in 2023, reaching 532,098 units from 529,556 units in 2022. In December 2023, export sales increased by 1.2% to 26,612 units, marking a record-high of 396,290 units compared to 26,295 units in December 2022. Dealer sales accounted for 88.0% of total sales, while vehicle rental sales accounted for 8.7%. Government sales reached 2.2%, and corporate fleets contributed 1.1% to the industry.  As the automobile sector develops further and uses more sophisticated materials to achieve environmental and performance standards, basalt fibers are emerging as a promising solution.

Asia Pacific region is expected to grow significantly.

The Asia Pacific region is expected to experience significant growth in the basalt fiber market due to rapid infrastructure development, automotive industry expansion, renewable energy projects, and a growing manufacturing sector. Basalt fibers are used in automotive components, wind turbine blades, textiles, electronics, and industrial equipment. The region is also becoming more aware of sustainable materials, with governments promoting investments in high-tech industries. The fiber is also used in consumer electronics, sports equipment, and recreational products. The emergence of manufacturers and suppliers in the region creates a competitive landscape, driving innovation and improving product quality. For Instance, according to the International Trade Administration, in April 2023, China remains the world's largest vehicle market, with domestic production expected to reach 35 million by 2025. In 2021, over 26 million vehicles were sold, with 21.48 million passenger vehicles, a 7.1% increase from 2020, and 4.79 million commercial vehicles. India's demand for new and advanced Light Commercial Vehicles (LCVs) has surged due to increasing emissions regulations, safety advancements, driver-assist systems, and growing logistics in retail and e-commerce sectors. In 2022, production reached 6,17,398 units, a 27% increase from 2021, according to the International Organization of Motor Vehicle Manufacturers.

Market Restraints

• Supply chain could restrain the basalt fibre market growth.

The supply chain for basalt fibers, including raw material availability and processing capabilities, presents potential challenges, necessitating a stable and efficient supply to meet industry demands and maintain market growth.

Market Developments

• April 2021-.Kamenny Vekt has introduced three new products to its product range: Basalt direct roving 22 microns 2400 tex, a popular product in the composites industry, and Basalt assembled roving 18 microns 4800 tex and 18 microns 3000 tex. These rovings have high mechanical properties and reduced catenary. The new fiber has a slightly grayer tint, while the old fiber has a greenish-bronze tint. Kamenny Vekt continues to produce fine rovings and twisted yarns from old raw materials at their Dubna plant.

Company Products

• BAS MESH 110 7x6-  Basaltex produces basalt reinforcing MESH and GEOGRIDS and it is one of the grades which weighs 110 g/m² and has a mess window size of 7*6 mm. They are made from basalt fiber with a polymer coating for natural alkaline and corrosion resistance. These materials are designed for the reinforcement of concrete and masonry structures, specifically for new builds and seismic retrofits. They are also used in road construction and marine off-shore infrastructures.
• Direct roving- Kamenny Vek offers various types of roving, including direct roving, regular assembled roving, and high-performance assembled roving. Direct roving is a continuous one-end strand with zero catenary and excellent appearance, used for fabrics, geogrids, pultruded profiles, and rebar. There are higher tex roving, such as 4800 tex, for other applications for customers who cannot use direct roving due to requiring roving wounds on bobbins with external pools.

Segmentation

• By Product Type
  • Roving
  • Fabric
  • Mesh and Grids
  • Chopped Strands
  • Others
• By Form
  • Up Continuous Basalt Fibers
  • Super Thin Basalt Fibers
  • Staple Thin Basalt Fibers
  • Basalt Scale & Materials
• By Application
  • Composites
  • Non-Composites
• By End-User
  • Automotive & Transportation
  • Electrical & Electronics
  • Marine
  • Construction & Infrastructure
  • Wind Energy
  • Others
• By Geography
  • • North America
    • USA
    • Canada
    • Mexico
    • South America
    • Brazil
  • Argentina
    • Others
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Indonesia
    • Others