Europe Basalt Fiber Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Roving, Chopped Strand, Twisted Yarn, Fabrics and Tapes, and Others) and End-Use Industry (Construction, Automotive, Electrical and Electronics, Chemical, and Others)
Market Introduction
Europe comprises several economies such as Germany, Russia, France, the UK, and Italy. The rising investments in the construction industry along with increasing growth in the automotive industry are driving the growth of the basalt fiber market in Europe. More than 70% of the EU’s total investment in the construction of buildings and other structures was invested by 5 countries alone, which are Germany, France, the UK, Italy, and Spain. 51% of the EU’s investment is in the residential sector and the remaining is used for the construction of nonresidential buildings and structures. In the construction industry, basalt fibers are used in the production of reinforced bars, for external reinforcement in housing and infrastructure, and for producing reinforced mesh that are designed for reinforcing road and highway overlays. Thus, a rising construction industry would provide lucrative opportunities for the basalt fiber market to grow in Europe during the forecast period. Europe is one of the regions that contribute to the largest production and consumption of basalt fiber. Along with this, there are several composite part fabricators in Russia and Ukraine using basalt composites and serving various industries. The region has witnessed a growing demand for basalt fibers from the automotive industry as stringent regulations are prevailing in the EU regarding vehicle emissions and greenhouse gas amongst others. According to the European Automobile Manufacturers’ Association, or ACEA, the EU commercial vehicle output grew by 2.6% and reached 2.8 million units in 2018. In addition, there have been various research and development projects focusing on the usage of basalt fiber in the automotive industry. EIT Raw Materials, the European raw materials association, allocated €1,317 million to finance the research project C2CC (Cradle-to-Cradle Composites), which is carried out to develop innovative composite materials based on basalt fiber and bio-resin for the automotive industry. Thus, the rising construction and automotive industries along with the increasing research and development would fuel the growth of the basalt fiber market in Europe during the forecast period.
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.
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Market Overview and Dynamics
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. Growing environmental awareness around the region has prompted a paradigm shift towards designing environmentally friendly materials. Basalt fibers are 100% natural. Basalt fiber can be categorized as a sustainable material because it is made of natural materials. Basalt rock is an ecological clean raw material used for the production of basalt fibers. The technology for the production of basalt fiber is not hazardous for the environment. No chemical additives, solvents, pigments, or other hazardous materials are used in its manufacturing. Basalt fiber is known as green industrial material. Basalt fiber is a non-polluting, green, environmentally friendly fiber product. It presents no hazard to health and environment. Also, the basalt ?bers are easy to recycle. The increasing demand for easily recyclable fibers such as basalt fiber will contribute to the expansion of the market. The products has no toxic reaction with air or water. They cause no chemical reactions that could harm human health or the environment when they come in contact with other chemicals. Thus, the environmentally friendly and easily recyclable nature of basalt fibers will provide more opportunities for the growth of the Europe market in coming years.
Key Market Segments
In terms of product, the fabrics and tapes segment accounted for the largest share of the Europe basalt fiber market in 2020. In terms of end-use industry, the automotive segment held a larger market share of the Europe basalt fiber market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the Europe basalt fiber market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Bastech Trade Ltd; Deutsche Basalt Faser Gmbh; Fiberbas Construction and Building Technologies; Hg Gbf Basalt Fiber Co., Ltd; Kamenny Vek Company; Mafic SA; and Technobasalt-Invest LLC.
Reasons to buy report
- To understand the Europe basalt fiber market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for Europe basalt fiber market
- Efficiently plan M&A and partnership deals in Europe basalt fiber market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Europe basalt fiber market
- Obtain market revenue forecast for market by various segments from 2021-2028 in Europe region.
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 - Company Profiles
- 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
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. Europe Basalt Fiber Market Landscape
4.1 Market Overview
4.2 Europe PEST Analysis
4.3 Expert Opinion
5. Europe Basalt Fiber Market — Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Various Applications of Basalt Fibers in End-use Industries
5.1.2 Excellent Mechanical, Chemical, and Thermal Properties of Basalt Fibers
5.2 Key Market Restraints
5.2.1 Unstable Raw Material Properties
5.3 Key Market Opportunities
5.3.1 Increasing Adoption of Environmentally Friendly and Recyclable Material
5.4 Future Trends
5.4.1 Rise in Demand for Noncorrosive Materials
5.5 Impact Analysis of Drivers and Restraint
6. Basalt Fiber Market – Europe Analysis
6.1 Europe Basalt Fiber Market Overview
6.2 Europe Basalt Fiber Market –Revenue and Forecast to 2028
7. Europe Basalt Fiber Market Analysis – by Product
7.1 Overview
7.2 Europe 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. Europe Basalt Fiber Market Analysis – by End-Use Industry
8.1 Overview
8.2 Europe 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. Europe Basalt Fiber Market – Country Analysis
9.1 Overview
9.1.1 Europe: Basalt Fiber Market, by Key Country
9.1.1.1 Germany: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
9.1.1.1.1 Germany: Basalt Fiber Market, By Product
9.1.1.1.2 Germany: Basalt Fiber Market, by End-Use Industry
9.1.1.2 France: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
9.1.1.2.1 France: Basalt Fiber Market, By Product
9.1.1.2.2 France: Basalt Fiber Market, by End-Use Industry
9.1.1.3 Italy: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
9.1.1.3.1 Italy: Basalt Fiber Market, By Product
9.1.1.3.2 Italy: Basalt Fiber Market, by End-Use Industry
9.1.1.4 UK: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
9.1.1.4.1 UK: Basalt Fiber Market, By Product
9.1.1.4.2 UK: Basalt Fiber Market, by End-Use Industry
9.1.1.5 Russia: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
9.1.1.5.1 Russia: Basalt Fiber Market, By Product
9.1.1.5.2 Russia: Basalt Fiber Market, by End-Use Industry
9.1.1.6 Rest of Europe: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
9.1.1.6.1 Rest of Europe: Basalt Fiber Market, By Product
9.1.1.6.2 Rest of Europe: Basalt Fiber Market, by End-Use Industry
10. Impact of COVID-19 Pandemic on Europe Basalt Fiber Market
10.1 Europe: 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 Fiberbas Construction and Building Technologies
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 Bastech Trade 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 Mafic SA
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
11.6 Technobasalt-Invest LLC
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Deutsche Basalt Faser Gmbh
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Word Index
LIST OF TABLES
Table 1. Europe Basalt Fiber Market –Revenue and Forecast to 2028 (US$ Thousand)
Table 2. Germany Basalt Fiber Market, By Product – Revenue and Forecast to 2028 (US$ Thousand)
Table 3. Germany Basalt Fiber Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Thousand)
Table 4. France Basalt Fiber Market, By Product – Revenue and Forecast to 2028 (US$ Thousand)
Table 5. France Basalt Fiber Market, by End-Use Indsutry – Revenue and Forecast to 2028 (US$ Thousand)
Table 6. Italy Basalt Fiber Market, By Product – Revenue and Forecast to 2028 (US$ Thousand)
Table 7. Italy Basalt Fiber Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Thousand)
Table 8. UK Basalt Fiber Market, By Product – Revenue and Forecast to 2028 (US$ Thousand)
Table 9. UK Basalt Fiber Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Thousand)
Table 10. Russia Basalt Fiber Market, By Product – Revenue and Forecast to 2028 (US$ Thousand)
Table 11. Russia Basalt Fiber Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Thousand)
Table 12. Rest of Europe Basalt Fiber Market, By Product – Revenue and Forecast to 2028 (US$ Thousand)
Table 13. Rest of Europe Basalt Fiber Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Thousand)
Table 14. List of Abbreviation
LIST OF FIGURES
Figure 1. Europe Basalt Fiber Market Segmentation
Figure 2. Europe Basalt Fiber Market Segmentation – By Country
Figure 3. Europe Basalt Fiber Market Overview
Figure 4. Europe Basalt Fiber Market, By Product
Figure 5. Europe Basalt Fiber Market, By Country
Figure 6. Europe: PEST Analysis
Figure 7. Expert Opinion
Figure 8. Europe Basalt Fiber Market Impact Analysis of Drivers and Restraints
Figure 9. Europe: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
Figure 10. Europe Basalt Fiber Market Breakdown, By Product, 2020 & 2028
Figure 11. Europe Roving: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
Figure 12. Europe Chopped Strand: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
Figure 13. Europe Twisted Yarn: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
Figure 14. Europe Fabrics and Tapes: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
Figure 15. Europe Others: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
Figure 16. Europe Basalt Fiber Market Breakdown, by End-Use Industry, 2020 & 2028
Figure 17. Europe Construction: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
Figure 18. Europe Automotive: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
Figure 19. Europe Electrical and Electronics: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
Figure 20. Europe Chemical: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
Figure 21. Europe Others: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
Figure 22. Europe: Basalt Fiber Market, by Key Country – Revenue (2020) (USD Thousand)
Figure 23. Europe: Basalt Fiber Market Revenue Share, by Key Country (2020 and 2028)
Figure 24. Germany: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
Figure 25. France: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
Figure 26. Italy: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
Figure 27. UK: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
Figure 28. Russia: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
Figure 29. Rest of Europe: Basalt Fiber Market – Revenue and Forecast to 2028 (US$ Thousand)
Figure 30. Impact of COVID-19 Pandemic on Basalt Fiber Market in Europe
- 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
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