Basalt Fiber Market

Basalt Fiber Market Overview

The global Basalt Fiber Market size was valued at USD 301.7 million in 2024 and is predicted to reach USD 588.3 million by 2030 with a CAGR of 11.8% from 2025-2030.

The basalt fiber market is driven by the rising demand for lightweight vehicles, expanding aerospace industry and growing construction activities. However, limited availability of resources hinders the growth of the market. On the contrary, the rising adoption of such material for the production of eco-friendly products is anticipated to create future opportunity for the market. 

Additionally, the top players operating in the market include Kamenny Vek and Zhejiang Shijin Basalt Fiber Co., Ltd. among others. As the adoption of such material increases for the production of sustainable products the market is shaping toward further growth as industries increasingly prioritize sustainable materials to reduce environmental impact, it offers an attractive solution due to its natural composition and recyclability.

Rising Demand for Lightweight Vehicles Drives the Market Growth

The demand for lightweight vehicles is on the rise worldwide and this requires materials that offer the light weight feature easily without compromising the strength and performance of the vehicle. One such material is Basalt Fiber, that does fulfil this requirement from the manufacturer’s side and also helps reduce fuel consumption by the vehicle, thus contributing towards sustainability by reducing the emissions. 

According to 2023 report of the International Organization of Motor Vehicle Manufacturers or OICA, the overall vehicles produced by 40 countries include China, U.S., India, and Japan, summed to around 93 million vehicles and it summed to 85 million in the previous year of 2022 showing an increasing rate of around 9.4%. Rising production rates for vehicles globally leads to increased needs for the required materials for lightweight vehicles with not compromising on other features of a vehicle.

Expanding Aerospace Industry Fuels Market Growth

The expanding aerospace industry around the world, coupled with the growing demand for lightweight materials, drives the adoption of basalt fiber in this sector. As aerospace companies prioritise fuel efficiency and increased payload capacities, the need for materials that offer strength without added weight becomes highly important, thereby fueling the growth of the market. 

According to the report published by Space Foundation, the global space economy grew by 7%, reaching USD 570 billion in 2023, up from USD 530 billion in 2022. The surge in space economy reflects the growing space mission globally driving the demand for advanced materials to withstand extreme conditions and reducing overall weight.

Growing Construction Activities Thrives Market Growth

The growth of construction activities across the world drives the demand for basalt fiber as these fibers increases lifespan of infrastructure. As urban activities expand, the demand for materials that is budget friendly and also have long term value for construction that is resistance against corrosion and can surpass extreme weather conditions rises, fueling the growth of the market. 

China is the largest construction market globally, with expected infrastructure investment of USD 4.2 trillion from 2021 to 2025 as per ITA. Australia’s construction industry contributes about 10% to the GDP, managing over USD 162 billion annually. This increasing investment in large-scale infrastructure projects calls for materials that offer durability in long run and reduce maintenance costs.

Limited Availability of Resources Hinders the Growth of the Market

The limited availability of resources restricts production capacity as the supply of basalt rock is not evenly distributed across regions. This shortage leads to shortages in supply, higher costs, and limits of the basalt fiber market growth.

Rising Adoption of Basalt Fiber for the Manufacturing of Eco-Friendly Products Creates Future Opportunity

The increasing use of basalt fiber for the production of environmentally friendly products is anticipated to provide future opportunities for the market. As industries increasingly prioritise sustainable materials to reduce environmental impact, it offers an attractive solution due to its natural composition and recyclability.

Market Segmentations and Scope of the Study 

The basalt fiber market report is segmented on the basis of type, end-use industry, and region. On the basis of type, the market is bifurcated into composites and non-composites. On the basis of usage, the market is divided into pre-emergence and post emergence. On the basis of end-use industry, the market is classified into building & construction, automotive, aerospace & defense, energy generation, insulation & thermoacoustic, and others. Regional breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

Asia-Pacific holds the dominant in basalt fiber market share and is expected to continue its dominance during the forecast period due to the presence of one of the largest automotive sectors. The automotive industry increasingly seeks lightweight, high-strength materials to improve fuel efficiency and vehicle performance that in turn drives the demand for high quality materials for durable and efficient vehicle components. 

As per the World Population Review, the production of vehicles among countries such as China, Japan and India reached 27 million, 7.8 million and 5.5 million in the year 2022 respectively. The rise in vehicle production in this region drives the demand for materials that enhances vehicles life span without compromising its features. 

Moreover, the presence of key market players such as Jogani Reinforcement and PioneerFibre Ltd. are adopting various business strategies including product launch that further fuels the market growth in this region. For instance, in July 2024, Jogani Reinforcement launched high tensile basalt fiber aimed at enhancing the concrete and infrastructure sector. This innovation aims to improve the quality and longevity of construction projects in India. 

On the other hand, North America shows a steady rise in the market during the forecast period due to the expanding aerospace sector in this region. As aerospace companies focus to reduce aircraft weight to improve fuel efficiency and payload capacity, the basalt fiber market demand for advanced materials is on the rise. 

According to Aerospace Industry Association, in November 2022, the industry generated USD 892 billion in sales, a 2.1% increase from the previous year. The surge in sale reflects the growing demand for volcano rock silk to develop lightweight, durable, and efficient components, further driving the growth of the market. 

Moreover, the expanding military sector is driving the growth of the volcano rock silk market, as defense organizations seek advanced, high-performance materials for their vehicles, aircraft, and equipment. Basalt fiber offers excellent strength and lightweight properties making it an ideal material for military applications. 

As per the reports published by World Bank Group, in 2022, the military expenditure in the U.S. was recorded at around USD 876.94 trillion, from USD 806.23 trillion in 2021 making a growth of 9% within a time span of one year. The rise in military expenditure drives the demand for advanced materials for defence applications to meets its evolving performance for its wide range of products.

Competitive Landscape

Various key players operating in the basalt fiber industry are Kamenny Vek, Zhejiang Shijin Basalt Fiber Co., Ltd., PioneerFibre Ltd., Arab Basalt Fiber Company, Isomatex, Incotelogy GmbH, Sudaglass Fiber Technology, Basalt Fiber Tech, Deutsche Basalt Faser GmbH, Technobasalt Invest, Basaltex, JiLin Tongxin Basalt Technology Co.,Ltd., Hydro Design Management Co. Pvt. Ltd., ARMBAS, GoGreen Products and others. 

Key Benefits

• The report provides quantitative analysis and estimations of the basalt fiber market from 2025 to 2030, which assists in identifying the prevailing market opportunities.

• The study comprises a deep-dive analysis of the current and future basalt fiber market trends to depict prevalent investment pockets in the industry.

• Information related to key drivers, restraints, and opportunities and their impact on the market is provided in the report. 

• Competitive analysis of the players, along with their market share is provided in the report.

• SWOT analysis and Porters Five Forces model is elaborated in the study.

• Value chain analysis in the market study provides a clear picture of roles of stakeholders.

Basalt Fiber Market Key Segments

By Type 

• Composites

• Non-Composites

By End-Use Industry

• Building & Construction

• Automotive

• Aerospace & Defense

• Energy Generation

• Insulation & Thermoacoustic

• Others

By Region

• North America

  • The U.S.

  • Canada

  • Mexico

• Europe

  • The U.K.

  • Germany

  • France        

  • Italy        

  • Spain        

  • Denmark        

  • Netherlands        

  • Finland        

  • Sweden        

  • Norway        

  • Russia

  • Rest of Europe

• Asia-Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Indonesia

  • Singapore

  • Taiwan

  • Thailand

  • Rest of Asia-Pacific 

• RoW

  • Latin America

  • Middle East 

  • Africa

Key Players

• Kamenny Vek

• Zhejiang Shijin Basalt Fiber Co., Ltd.

• PioneerFibre Ltd.

• Arab Basalt Fiber Company

• Isomatex

• Incotelogy GmbH

• Sudaglass Fiber Technology

• Basalt Fiber Tech

• Deutsche Basalt Faser GmbH

• Technobasalt Invest

• Basaltex

• JiLin Tongxin Basalt Technology Co.,Ltd.

• Hydro Design Management Co. Pvt. Ltd.

• ARMBAS

• GoGreen Products

REPORT SCOPE AND SEGMENTATION:

Parameters	Details
Market Size in 2024	USD 301.7 million
Revenue Forecast in 2030	USD 588.3 million
Growth Rate	CAGR of 11.8% from 2025 to 2030
Analysis Period	2024–2030
Base Year Considered	2024
Forecast Period	2025–2030
Market Size Estimation	Million (USD)
Growth Factors	The rising adoption of lights weights vehicles drives the demand for basalt fibers. The expanding aerospace industry fuels the growth of the market. The growing construction industry globally boosts market growth.
Countries Covered	28
Companies Profiled	15
Market Share	Available for 10 companies
Customization Scope	Free customization (equivalent to up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs.