The APAC basalt fiber market is expected to grow from US$ 113.35 Million in 2021 to US$ 211.24 Million by 2028; it is estimated to grow at a CAGR of 9.3% from 2021 to 2028.
China, India, Japan, South Korea, and Australia are major economies across APAC region. Greater mechanical, chemical, and thermal properties of basalt fibers is expected to catalyze the APAC basalt fiber market. There is a high demand for basalt fibers due to their comprehensive performance. Basalt fibers are chemically stable and have excellent mechanical and thermal properties. Basalt fiber have excellent tensile strength and modulus of elasticity. They are capable to withstand very high temperature and can be used in high performance applications. Moreover, basalt fibers have good physical and chemical properties. They have good adhesion to metals, epoxies, and glues. They have higher electrical insulation than glass fiber. Basalt fiber have good acid-alkali resistance, high wave permeability, non-conductive, and excellent sound insulation performance. Resistance to alkaline, acidic, and salt attack makes basalt fiber a good candidate for construction activities. Basalt fibers have advantages over other fibers such as glass fiber in terms of thermal stability, resistance to fire, overall durability etc. Due to good mechanical, chemical and thermal performance, basalt fibers are gaining increasing attention from various end-use industries, thus contributing for the APAC market growth.The Asian economies have been hit hard due to the pandemic. The emergence of new COVID-19 waves in India, Thailand, and other Asian economies has prolonged the effect of pandemic upon GDP. The ongoing COVID-19 pandemic is anticipated to cause huge disruptions in the growth of various industries in Asia Pacific. However, the uncertainty regarding the future outbreak, especially in countries such as India and a few other Asian countries, has altered the status of several industrial sectors. The governments of various Asia Pacific economies are taking possible steps to restrict the spread of the virus by announcing a country-wide lockdown, which directly impacts the growth of industrial sectors. This factor may impact the demand for basalt fibers. However, the market is expected to witness an increase in investment by players to tap the prevailing opportunities and cater to expanding demand for basalt fibers in post-pandemic times.
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 APAC basalt fiber market. The APAC basalt fiber market is expected to grow at a good CAGR during the forecast period.
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APAC Basalt Fiber Market Segmentation
APAC Basalt Fiber Market – By Product
- Roving
- Chopped Strand
- Twisted Yarn
- Fabrics and Tapes
- Others
APAC Basalt Fiber Market – By End-Use Industry
- Construction
- Automotive
- Electrical and Electronics
- Chemical
- Others
APAC Basalt Fiber Market, by Country
- Australia
- China
- India
- Japan
- South Korea
- Rest of APAC
APAC Basalt Fiber Market - Companies Mentioned
APAC Basalt Fiber Market - Companies Mentioned
- Hg Gbf Basalt Fiber Co., Ltd
- Hydro Design Management Co. Pvt. Ltd.
- Kamenny Vek Company
- Shanxi Basalt Fiber Technology Co. Ltd
- Technobasalt-Invest LLC
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection
3.2.2 Primary Interviews
3.2.3 Hypothesis Formulation
3.2.4 Macro-economic Factor Analysis
3.2.5 Developing Base Number
3.2.6 Data Triangulation
3.2.7 Country Level Data
4. APAC Basalt Fiber Market Landscape
4.1 Market Overview
4.2 APAC PEST Analysis
4.3 Expert Opinion
5. APAC Basalt Fiber Market — Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Extensive Applications of Basalt Fibers in Various End-use Industries
5.1.2 Greater Mechanical, Chemical, and Thermal Properties of Basalt Fibers
5.2 Key Market Restraints
5.2.1 Unpredictable Raw Material Properties
5.3 Key Market Opportunities
5.3.1 Escalating Adoption of Environmentally Friendly and Recyclable Material
5.4 Future Trends
5.4.1 Surging Demand for Noncorrosive Materials
5.5 Impact Analysis of Drivers and Restraint
6. Basalt Fiber Market – APAC Analysis
6.1 APAC Basalt Fiber Market Overview
6.2 APAC Basalt Fiber Market –Revenue and Forecast to 2028
7. APAC Basalt Fiber Market Analysis – by Product
7.1 Overview
7.2 APAC Basalt Fiber Market Breakdown, By Product, 2020 & 2028
7.3 Roving
7.3.1 Overview
7.3.2 Roving: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
7.4 Chopped Strand
7.4.1 Overview
7.4.2 Chopped Strand: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
7.5 Twisted Yarn
7.5.1 Overview
7.5.2 Twisted Yarn: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
7.6 Fabrics and Tapes
7.6.1 Overview
7.6.2 Fabrics and Tapes: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
7.7 Others
7.7.1 Overview
7.7.2 Others: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
8. APAC Basalt Fiber Market Analysis – by End-Use Industry
8.1 Overview
8.2 APAC Basalt Fiber Market Breakdown, by End-Use Industry, 2020 & 2028
8.3 Construction
8.3.1 Overview
8.3.2 Construction: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
8.4 Automotive
8.4.1 Overview
8.4.2 Automotive: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
8.5 Electrical and Electronics
8.5.1 Overview
8.5.2 Electrical and Electronics: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
8.6 Chemical
8.6.1 Overview
8.6.2 Chemical: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
8.7 Others
8.7.1 Overview
8.7.2 Others: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
9. APAC Basalt Fiber Market – Country Analysis
9.1 Overview
9.1.1 APAC: Basalt Fiber Market, by Key Country
9.1.1.1 India: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
9.1.1.1.1 India: Basalt Fiber Market, by Product
9.1.1.1.2 India: Basalt Fiber Market, by End-Use Industry
9.1.1.2 Australia: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
9.1.1.2.1 Australia: Basalt Fiber Market, by Product
9.1.1.2.2 Australia: Basalt Fiber Market, by End-Use Industry
9.1.1.3 China: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
9.1.1.3.1 China: Basalt Fiber Market, by Product
9.1.1.3.2 China: Basalt Fiber Market, by End-Use Industry
9.1.1.4 Japan: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
9.1.1.4.1 Japan: Basalt Fiber Market, by Product
9.1.1.4.2 Japan: Basalt Fiber Market, by End-Use Industry
9.1.1.5 South Korea: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
9.1.1.5.1 South Korea: Basalt Fiber Market, by Product
9.1.1.5.2 South Korea: Basalt Fiber Market, by End-Use Industry
9.1.1.6 Rest of APAC: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
9.1.1.6.1 Rest of APAC: Basalt Fiber Market, by Product
9.1.1.6.2 Rest of APAC: Basalt Fiber Market, by End-Use Industry
10. Impact of COVID-19 Pandemic on APAC Basalt Fiber Market
10.1 APAC: Impact Assessment of COVID-19 Pandemic
11. Company Profile
11.1 Kamenny Vek Company
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Hydro Design Management Co. Pvt. Ltd.
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Hg Gbf Basalt Fiber Co., Ltd
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Shanxi Basalt Fiber Technology Co. Ltd
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Technobasalt-Invest LLC
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Word Index
LIST OF TABLES
Table 1. APAC Basalt Fiber Market –Revenue and Forecast to 2028 (US$ Thousand)
Table 2. India Basalt Fiber Market, by Product – Revenue and Forecast to 2028 (US$ Thousand)
Table 3. India Laminate Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Thousand)
Table 4. Australia: Basalt Fiber Market, by Product– Revenue and Forecast to 2028 (US$ Thousand)
Table 5. Australia: Laminate Market, by End-Use Industry– Revenue and Forecast to 2028 (US$ Thousand)
Table 6. China: Basalt Fiber Market, by Product – Revenue and Forecast to 2028 (US$ Thousand)
Table 7. Japan: Basalt Fiber Market, by Product – Revenue and Forecast to 2028 (US$ Thousand)
Table 8. Japan: Laminate Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Thousand)
Table 9. South Korea: Basalt Fiber Market, by Product – Revenue and Forecast to 2028 (US$ Thousand)
Table 10. South Korea: Laminate Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Thousand)
Table 11. Rest of APAC: Basalt Fiber Market, by Product – Revenue and Forecast to 2028 (US$ Thousand)
Table 12. Rest of APAC: Laminate Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Thousand)
Table 13. List of Abbreviation
LIST OF FIGURES
Figure 1. APAC Basalt Fiber Market Segmentation
Figure 2. APAC Basalt Fiber Market Segmentation – By Country
Figure 3. APAC Basalt Fiber Market Overview
Figure 4. APAC Basalt Fiber Market, By Product
Figure 5. APAC Basalt Fiber Market, By Country
Figure 6. APAC: PEST Analysis
Figure 7. Expert Opinion
Figure 8. APAC Basalt Fiber Market Impact Analysis of Drivers and Restraints
Figure 9. APAC: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
Figure 10. APAC Basalt Fiber Market Breakdown, By Product, 2020 & 2028
Figure 11. APAC Roving: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
Figure 12. APAC Chopped Strand: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
Figure 13. APAC Twisted Yarn: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
Figure 14. APAC Fabrics and Tapes: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
Figure 15. APAC Others: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
Figure 16. APAC Basalt Fiber Market Breakdown, by End-Use Industry, 2020 & 2028
Figure 17. APAC Construction: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
Figure 18. APAC Automotive: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
Figure 19. APAC Electrical and Electronics: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
Figure 20. APAC Chemical: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
Figure 21. APAC Others: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
Figure 22. APAC: Basalt Fiber Market, by Key Country – Revenue (2020) (USD Thousand)
Figure 23. APAC: Basalt Fiber Market Revenue Share, by Key Country (2020 and 2028)
Figure 24. India: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
Figure 25. Australia: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
Figure 26. China: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
Figure 27. China: Laminate Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Thousand)
Figure 28. Japan: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
Figure 29. South Korea: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
Figure 30. Rest of APAC: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
Figure 31. Impact of COVID-19 Pandemic on Basalt Fiber Market in APAC
- Hg Gbf Basalt Fiber Co., Ltd
- Hydro Design Management Co. Pvt. Ltd.
- Kamenny Vek Company
- Shanxi Basalt Fiber Technology Co. Ltd
- Technobasalt-Invest LLC
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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