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Global Basalt Rock Market to reach USD 298.6 million by the end of 2030

Global Basalt Rock Market Size study & Forecast, by Type (Tholeiitic Basalt, Mid- Ocean Ridge Basalt, Alkali Basalt, High-alumina Basalt, Others), by Application (Construction, Cobblestones, Basalt Fibers, Stone Wool, Cosmetics, Water Filtration/Water Treatment, Machinery, Others) and Regional Analysis, 2023-2030

Product Code: CMAM-58297384
Publish Date: 29-02-2024
Page: 200

Global Basalt Rock Market is valued at approximately USD 310 million in 2022 and is anticipated to grow with a healthy growth rate of more than 4.5% during the forecast period 2023-2030. Basalt rock is a type of rock that forms when lava cools down quickly on the Earth’s surface. It looks dark and dense and is made mostly of minerals such as plagioclase, pyroxene, and olivine. Basalt rock has a smooth texture, and sometimes it forms columns or hexagonal shapes, especially in structures such as basalt columns. The automotive and aerospace sectors have experienced a significant increase in the need for basalt rock, driven by its remarkable qualities and adaptable uses. Additionally, the growing demand for environmentally friendly construction materials has boosted the appeal of basalt rock in the building industry.

As per the European Automobile Manufacturers Association, the global production of motor vehicles reached 85.4 million in 2022, marking a 5.7% increase from the previous year 2021. Additionally, the global market value of green building materials reached USD 298 billion in 2022, with projections estimating a rise to around USD 524 billion by 2027. Moreover,, California led the United States in the number of LEED Certificates in 2022, although it did not have the highest per capita count of these green building certificates. However, competition from substitute materials stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Basalt Rock Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. In 2022, the Asia-Pacific region held a XX% market share in the basalt rock industry, and it is anticipated to sustain its leading position in the forecast period. The region is undergoing substantial urbanization and significant infrastructure growth. The durability and suitability of basalt rock as a construction material contribute significantly to its value in the flourishing construction sector of the Asia-Pacific region.

Major market player included in this report are:
Aravali India Marbles & Granites
Maharaja Stones
Technobasalt invest Inc.
Sudaglass Fiber Technology
Albarrie Canada Limited
Isomatex S.A.
Zhejiang GBF Basalt Fiber Co. Ltd
Rockwool A/S
Kamenny Vek

Recent Developments in the Market:
Ø In April 2022, Technical Fibre Products (TFP) introduced an innovative polyimide veil, designed to withstand high temperatures, specifically tailored for use in composite applications. This unveiling took place at the JEC World Exhibition.
Ø In June 2021, Basaltex NV presented a cutting-edge composite material solution at the same exhibition. This solution combines basalt fibers with EconCore’s honeycomb technology, offering a promising advancement for railway applications.
Ø In November 2021, Zhejiang Shijin Basalt Fiber Co., Ltd. achieved a milestone by developing CNG cylinders. These cylinders utilize basalt fiber yarn wrapping, enhancing safety and pressure resistance for improved performance in various applications.

Global Basalt Rock Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Application, Type, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Tholeiitic Basalt
Mid-ocean Ridge Basalt (MORB)
Alkali Basalt
High-alumina Basalt

By Application:
Basalt Fibers
Stone Wool
Water Filtration/Water Treatment

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Million)
1.2.1. Basalt Rock Market, by Region, 2020-2030 (USD Million)
1.2.2. Basalt Rock Market, by Type, 2020-2030 (USD Million)
1.2.3. Basalt Rock Market, by Application, 2020-2030 (USD Million)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Basalt Rock Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Basalt Rock Market Dynamics
3.1. Basalt Rock Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Surge in demand from automotive and aerospace industries Sustainable and eco-friendly building materials Rapid urbanization
3.1.2. Market Challenges Competition from substitute materials
3.1.3. Market Opportunities Technological advancements in processing techniques Surge in infrastructure development projects
Chapter 4. Global Basalt Rock Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Basalt Rock Market, by Type
5.1. Market Snapshot
5.2. Global Basalt Rock Market by Type, Performance – Potential Analysis
5.3. Global Basalt Rock Market Estimates & Forecasts by Type 2020-2030 (USD Million)
5.4. Basalt Rock Market, Sub Segment Analysis
5.4.1. Tholeiitic Basalt
5.4.2. Mid-Ocean Ridge Basalt (MORB)
5.4.3. Alkali Basalt
5.4.4. High-alumina Basalt
5.4.5. Others
Chapter 6. Global Basalt Rock Market, by Application
6.1. Market Snapshot
6.2. Global Basalt Rock Market by Application, Performance – Potential Analysis
6.3. Global Basalt Rock Market Estimates & Forecasts by Application 2020-2030 (USD Million)
6.4. Basalt Rock Market, Sub Segment Analysis
6.4.1. Construction
6.4.2. Cobblestones
6.4.3. Basalt Fibers
6.4.4. Stone Wool
6.4.5. Cosmetics
6.4.6. Water Filtration/Water Treatment
6.4.7. Machinery
6.4.8. Others
Chapter 7. Global Basalt Rock Market, Regional Analysis
7.1. Top Leading Countries
7.2. Top Emerging Countries
7.3. Basalt Rock Market, Regional Market Snapshot
7.4. North America Basalt Rock Market
7.4.1. U.S. Basalt Rock Market Type breakdown estimates & forecasts, 2020-2030 Application breakdown estimates & forecasts, 2020-2030
7.4.2. Canada Basalt Rock Market
7.5. Europe Basalt Rock Market Snapshot
7.5.1. U.K. Basalt Rock Market
7.5.2. Germany Basalt Rock Market
7.5.3. France Basalt Rock Market
7.5.4. Spain Basalt Rock Market
7.5.5. Italy Basalt Rock Market
7.5.6. Rest of Europe Basalt Rock Market
7.6. Asia-Pacific Basalt Rock Market Snapshot
7.6.1. China Basalt Rock Market
7.6.2. India Basalt Rock Market
7.6.3. Japan Basalt Rock Market
7.6.4. Australia Basalt Rock Market
7.6.5. South Korea Basalt Rock Market
7.6.6. Rest of Asia Pacific Basalt Rock Market
7.7. Latin America Basalt Rock Market Snapshot
7.7.1. Brazil Basalt Rock Market
7.7.2. Mexico Basalt Rock Market
7.8. Middle East & Africa Basalt Rock Market
7.8.1. Saudi Arabia Basalt Rock Market
7.8.2. South Africa Basalt Rock Market
7.8.3. Rest of Middle East & Africa Basalt Rock Market

Chapter 8. Competitive Intelligence
8.1. Key Company SWOT Analysis
8.1.1. Company 1
8.1.2. Company 2
8.1.3. Company 3
8.2. Top Market Strategies
8.3. Company Profiles
8.3.1. Aravali India Marbles & Granites Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
8.3.2. Maharaja Stones
8.3.3. Technobasalt
8.3.4. Sudaglass Fiber Technology
8.3.5. Mafic
8.3.6. Albarrie Canada Limited
8.3.7. ISOMATEX S.A.
8.3.8. Zhejiang GBF Basalt Fiber Co. Ltd
8.3.10. Kamenny Vek
Chapter 9. Research Process
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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