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
Mafic
Albarrie Canada Limited
Isomatex S.A.
Zhejiang GBF Basalt Fiber Co. Ltd
Rockwool A/S
Kamenny Vek
Recent Developments in the Market:
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.
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.
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:
Historical Data - 2020 - 2021
Base Year for Estimation - 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Application, Type, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
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
Others
By Application:
Construction
Cobblestones
Basalt Fibers
Stone Wool
Cosmetics
Water Filtration/Water Treatment
Machinery
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa