Europe Basalt Fiber Market Analysis and Opportunities by 2028

The Europe basalt fiber market is expected to grow from US$ 47,054.55 thousand in 2021 to US$ 84,450.50 thousand by 2028; it is estimated to grow at a CAGR of 8.7% from 2021 to 2028.

The UK, Germany, France, Italy, and Russia are major economies across Europe region. Various applications of basalt fibers in end-use industries is expected to fuel the Europe basalt fiber market growth. Basalt fibers have a wide scope of applications in various end-use industries such as construction, automotive, electrical and electronics, chemical, aerospace, marine, and many others. In construction, the chopped basalt strand are used to increase cracking resistance of cement panels. Due to basalt fiber’s unique chemical stability in extreme conditions, they can be used in many concrete structures, such as bridges, tunnels, dams, floors, and other concrete structures. In the production of CNG cylinders, brake pads, mufflers, headliners, and other parts for interior applications in automotive industry, high-quality basalt roving, fabrics and chopped strands are used. Rapid growth across the automotive industry will provide significant opportunities for basalt fiber market in coming years. Basalt fibers are used in chemical industry for the production of chemical-resistant pipes, protective coatings, storage tanks for corrosive liquids, chemical fertilizers, acids, toxic substances etc. Basalt fiber are also a good anti-radiation protection material. Additionally, Basalt chopped strands are used in the preparation of friction materials. In electrical and electronics, basalt fibers are used in fire resistant cable construction components as fillers, braiding, tapes etc. Basalt fibers can be used as a heat-resistant insulating material in the field of printed circuit board manufacturing. Due to properties such as thermal stability and heat insulation, basalt fibers are used in aerospace industry. Basal fibers are also useful in military and civilian fields. As the application of basalt fibers are deepening, and the market demand for basalt fiber is increasing at a faster rate. Thus, wide applications of basalt fibers in various end-use industries is driving the demand for the Europe basalt fiber market.

In Europe, France, the UK, and Russia are the worst-impacted countries by the pandemic. The region is estimated to suffer an economic hit due to the lack of revenue from various industries subjected to disruption in the supply chain. As of August 31, 2021, the total number of confirmed cases in Europe is 65,138,274. The massive outbreak of the pandemic has created a temporary distortion in operation efficiencies of industrial bases in the European market. The basalt fiber market has been negatively impacted due to limited operational capabilities due to COVID-19 restrictions. However, the rising demand for basalt fiber across diverse industrial applications is expected to substantially promote the demand for basalt fiber.  

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe basalt fiber market. The Europe basalt fiber market is expected to grow at a good CAGR during the forecast period.

Europe Basalt Fiber Market Segmentation 

Europe Basalt Fiber Market – By Product

• Roving
• Chopped Strand
• Twisted Yarn
• Fabrics and Tapes
• Others

Europe Basalt Fiber Market – By End-Use Industry

• Construction
• Automotive
• Electrical and Electronics
• Chemical
• Others

Europe Basalt Fiber Market, by Country

• Germany
• France
• Italy
• UK  
• Russia
• Rest of Europe

Europe Basalt Fiber Market - Companies Mentioned

• Bastech Trade Ltd
• Deutsche Basalt Faser Gmbh
• Fiberbas Construction and Building Technologies
• Hg Gbf Basalt Fiber Co., Ltd
• Kamenny Vek Company
• Mafic SA
• Technobasalt-Invest LLC

Europe Basalt Fiber Report Scope