Basalt Roving Market Revenue was valued at USD 150 Million in 2024 and is estimated to reach USD 350 Million by 2033, growing at a CAGR of 9.8% from 2026 to 2033.
The global Basalt Roving Market size was valued at USD 140.3 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 8.4% from 2023 to 2030. The demand for basalt roving is primarily driven by its increasing applications in various industries such as construction, automotive, and aerospace. The markets growth can also be attributed to the superior properties of basalt roving, including its high strength, heat resistance, and environmental benefits, which make it a viable alternative to fiberglass and carbon fibers. North America accounted for the largest share of the market in 2022, with a market value of approximately USD 50.5 million. The regions dominance is fueled by the growing adoption of basalt roving in manufacturing sectors such as automotive, construction, and wind energy. Europe is another significant market, projected to witness substantial growth due to the rising demand for basalt based products in construction and industrial applications, valued at around USD 40.7 million in 2022.
In the Asia Pacific region, the market is expected to experience the highest growth, with a CAGR of 9.1% during the forecast period, driven by rapid industrialization, infrastructure development, and increased demand for lightweight materials in automotive and construction applications. The Asia Pacific market size was estimated at USD 30.1 million in 2022. Latin America and the Middle East & Africa are also witnessing steady growth, driven by the increasing use of basalt roving in infrastructure projects and the automotive industry. The Latin American market was valued at approximately USD 15.9 million in 2022, while the Middle East & Africa market is expected to grow at a moderate rate with an increasing focus on sustainable construction materials and lightweight composites in aerospace applications.
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Kamenny Vek
Technobasalt-Invest
Mafic SA
BASALTEX NV
Zhengzhou Dengdian CBF
Sichuan Aerospace Tuoxin
Jiangsu Tianlong
Zhejiang GBF
Shanxi ECIC Basalt
Shanxi Basalt Fibre Technology
Jiangsu Green Materials Vally
Sichuan Qianyi Composite Material
Jilin Tongxin Basalt Technology
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Basalt Roving Market
Unidirectional Basalt Roving
Multidirectional Basalt Roving
Chopped Strand Basalt Roving
Continuous Basalt Roving
Aerospace and Defense
Automotive
Construction and Infrastructure
Electrical and Electronics
Marine
Sporting Goods
Short Fiber Roving
Long Fiber Roving
Consumer Goods
Industrial Manufacturing
Renewable Energy
Telecommunications
Hand Lay-Up
Spray-Up
Resin Transfer Molding (RTM)
Filament Winding
Prepreg Processing
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Basalt Roving Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Basalt Roving Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Basalt Roving Market, By Type
6. Global Basalt Roving Market, By Application
7. Global Basalt Roving Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Basalt Roving Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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