Asia Pacific 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
APAC comprises several economies such as India, China, Japan, South Korea, and Australia. These countries are witnessing an upsurge in industrialization and urbanization activities, offering ample opportunities for the key market players in the basalt fiber market. In APAC, there has been an increase in the consumption of basalt fiber in various industries, such as wind energy, construction & infrastructure, electrical & electronics, and automotive. Along with this, the rise in awareness regarding sustainable living and environment-friendly materials used in the application of infrastructure, aerospace, and other industries boosts the demand for basalt fibers in the region. Features of basalt fiber such as low cost, easy availability, and increasing production capacities bolster the growth of the basalt fiber market in APAC. Basalt fiber manufacturers in China are developing new basalt fiber manufacturing technologies that focus on manufacturing low-cost continuous basalt fiber. The transportation and electrical & electronics sectors in China are also the major consumers of basalt fiber. Along with this, in this region, China has a large manufacturing capacity of basalt fiber, which can cater to any sudden increase in demand. Therefore, the market growth in the region is also attributed to the increased industrial development in China. Greater mechanical, chemical, and thermal properties of basalt fibers and extensive applications of basalt fibers in various end-use industries are the major factor driving the growth of the APAC basalt fiber market.
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.
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Market Overview and Dynamics
The APAC basalt fiber market is expected to grow from US$ 1,13,350.61 thousand in 2021 to US$ 2,11,244.92 thousand by 2028; it is estimated to grow at a CAGR of 9.3% from 2021 to 2028. Surging demand for noncorrosive materials is expected to fuel the APAC basalt fiber market growth. The demand for non-corrosive materials is increasing from the construction industry as non-corrosive materials helps to increase the life of structure and to reduce the cost. The corrosion problems are a serious issue in building and construction industry. Basalt fibers have corrosion resistance properties. Due to non-corrosive properties, the demand for basalt fibers is growing from building and construction segment. Basalt fibers are resistant to the action of salt ions, chemicals, and the alkalinity. Resistance to alkaline, acidic, and salt attack makes basalt fiber a good candidate for various construction activities. The basalt fiber is a good choice for reinforcing concrete structure exposed to de-icing salts and marine environment, such as seawalls and other structures located near a waterfront. Thus, corrosion resistance properties of basalt fibers further escalate the demand and contribute to the APAC market growth.
Key Market Segments
In terms of product, the roving segment accounted for the largest share of the APAC basalt fiber market in 2020. In terms of end-use industry, the construction segment held a larger market share of the APAC 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 APAC 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 Hg Gbf Basalt Fiber Co., Ltd; Hydro Design Management Co. Pvt. Ltd.; Kamenny Vek Company; Shanxi Basalt Fiber Technology Co. Ltd; and Technobasalt-Invest LLC.
Reasons to buy report
- To understand the APAC 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 APAC basalt fiber market
- Efficiently plan M&A and partnership deals in APAC 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 APAC basalt fiber market
- Obtain market revenue forecast for market by various segments from 2021-2028 in APAC region.
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 - Company Profiles
- Hg Gbf Basalt Fiber Co., Ltd
- Hydro Design Management Co. Pvt. Ltd.
- Kamenny Vek Company
- Shanxi Basalt Fiber Technology Co. Ltd
- 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. 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
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the APAC basalt fiber market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the APAC basalt fiber market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth APAC market trends and outlook coupled with the factors driving the basalt fiber market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution