Market Research Future Published a Research Study on Bentonite Market Research Report, Size, Share and Industry Analysis- Forecast to 2024
Competitive Analysis
Black
Hills Bentonite, LLC (US), Halliburton (US), Kemira (Finland), CB
Minerals (US), Minerals Technologies Inc (US), Clariant (Switzerland),
Alfa Aesar (US), KUNIMINE INDUSTRIES CO., LTD (Japan), Ashapura Group
(India), Wyo-Ben, Inc. (US), Pacific Bentonite Ltd. (Canada), Delmon
Group of Companies (UAE), CIMBAR PERFORMANCE MINERALS (US), LKAB
Minerals (Sweden), and Kutch Minerals (India) are some of the key
players operating in the global bentonite market.
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Bentonite Market Overview
According
to MRFR analysis, the Global Bentonite Market is projected to reach USD
1.62 Billion with a moderate CAGR of 4.1% during the forecast period.
Bentonite
is a commercially used name for naturally occurring clay which
significantly consists of montmorillonite. It is formed from weathering
of volcanic ash. Bentonite clay has high water absorption capacity which
expand it and leading to swelling. In addition, it possesses superior
plasticizing properties which are used in filling the void and parching
cracks. Moreover, they are used in numerous applications as a binder,
sealants, adsorbent, and absorbent.
Based on product, the global
bentonite market has been segmented into sodium bentonite, calcium
bentonite, sulfur bentonite, and others. The sodium bentonite segment
held the largest market share in 2018 and is projected to register the
highest CAGR during the review period. This is attributed to its ability
to absorb large amounts of water, high alkalinity, thermal stability,
high viscosity, and high strength formation and is used in the foundry
industry as a binder to enhance the product quality and reduce scrap
generation.
On the basis of application, the global bentonite
market has been classified into foundry sands, cat litter, iron ore
pelletizing, refining, drilling muds, absorbent/adsorbent, binder,
sealant, civil engineering, and others. The foundry sands segment
dominated the global market in 2018 which was followed by drilling
fluids and iron pelletizing application segments. This is largely
attributed to its increasing adoption in foundry molds for the metal
casting of utility hole covers, transmission housings, brake drums,
engine blocks, cast iron pans, among others.
By end-use industry,
the global bentonite market has been categorized into pharmaceuticals,
construction, oil and gas, food and beverages, cosmetics, paper and
pulp, agriculture, wastewater treatment, and ceramics. The oil and gas
segment accounted for the largest market share in 2018 and is followed
by construction and cosmetics owing to the growing demand for bentonite
in drilling fluids applications.
Market Segmentation
The global bentonite market has been segmented on the basis of product, application, end-use industry, and region.
By product, the global bentonite market has been divided into sodium bentonite, calcium bentonite, sulfur bentonite, and others.
Based
on application, the global bentonite market has been segmented into
foundry sands, cat litter, iron ore pelletizing, refining, drilling
muds, absorbent/adsorbent, binder, sealant, civil engineering, and
others.
On the basis of end-use industry, the global bentonite
market has been categorized into pharmaceuticals, construction, oil and
gas, food and beverages, cosmetics, paper and pulp, agriculture,
wastewater treatment, and ceramics.
The global bentonite market
has been studied across five key regions, namely Asia-Pacific, North
America, Europe, Latin America, and the Middle East & Africa.
Browse Key Industry insights spread across 140 pages with 47 market data tables & 12 figures & charts from the Report, “Bentonite
Market: Information by Product (Sodium Bentonite, Calcium Bentonite,
Sulphur Bentonite, Others), Application (Foundry Sands, Cat Litter, Iron
Ore Pelletizing, Refining, Drilling Muds, Absorbent/Adsorbent, Binder,
Sealant, Civil Engineering, Others), End-Use Industry (Pharmaceuticals,
Cosmetics, Construction, Oil & Gas, Food & Beverage, Paper and
Pulp, Agriculture, Ceramics, Wastewater Treatment) and Region
(Asia-Pacific, North America, Europe, Latin America and the Middle East
& Africa) - Forecast till 2024” in detail along with the table of contents@ https://www.marketresearchfuture.com/reports/bentonite-market-7896
Regional Analysis
Geographically,
the Global Bentonite Market has been studied across the five regions
—Asia-Pacific, North America, Latin America, Europe, and the Middle East
& Africa.
The North American market witnessed the largest
market share in 2018 and is projected to grow at steady CAGR during the
forecast period owing to growing drilling operations for extraction of
shale gas in the region. The US is the leading country in the region on
account of high demand for bentonite in drilling activities,
pharmaceuticals, and wastewater treatment. Asia-Pacific is estimated to
be the fastest-growing market during the assessment period owing to the
growing demand for the product in iron pelletizing, food and beverages,
pulp and paper, and ceramics industries. India is the leading country in
the region owing to the presence of major manufacturers in the country
such as Ashapura Group and Kutch Minerals; and growing construction
activities. China, Japan, and South Korea are other countries
contributing to the regional market growth.
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