The global Bentonite Market is anticipated to rise at a CAGR of 4.8% during the forthcoming period. Increasing activities in the oil well cement and drilling fluid applications are paving the way for bentonite industry. The market witnesses engaging activities in the groundwater barriers, absorbents for pet litter, oil & grease and binders in the iron & steel manufacturing industry.
Driving factors responsible for bentonite market include rise in oil & drilling activities blended with rise in application for geosynthetic clay and medical domain. In addition, rise in production capacities coupled with increase in demand for oil & gas is anticipated to drive the market growth during the forecast period. Rise in demand from end-use applications such as rubber tires and pharmaceutical industry and increasing popularity is anticipated to drive the market growth.
Product segmentation for bentonite industry includes calcium and sodium. Application category for bentonite market includes pet litter, drilling mud, civil engineering, refining, iron ore and foundry sands. Geographical segmentation for bentonite industry includes North America, South America, Europe, Asia-Pacific, Middle East and Africa. Asia-Pacific regions are expected to witness a higher CAGR owing to favorable initiatives by government. The regions are anticipated to witness a higher demand from oil & gas, construction and metallurgy industries.
North American market has a greater share owing to rise in use of bentonite for pet and cattle products. European market will experience a moderate share due to rise in foundry sands and iron ore extraction. Middle Eastern and African regions are likely to gain a significant market share due to rise in extraction and mining activities. The key players in the bentonite market include Wyo-Ben Inc, AMCOL International, Midpoint Chemicals Company, Kemira, Amsyn Inc, Cimbar, Volclay International, Charles B. Crystal Co Inc.
Product type Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
• Foundry sands
• Iron ore pelletizing
• Cat litter
• Drilling mud
• Civil Engineering
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
• North America
• Asia Pacific
• Latin America
Research Support Specialist, USA