The global bentonite market is anticipated to expand at a robust CAGR during the forecast period, between 2021-2028. Bentonite clay is generated from the alteration of volcanic ash and is primarily used to grease the cutting head, remove drill cuttings, and to close borehole walls.
Bentonite slurries retain their position in the excavated pit and avoid flowing into the surrounding soil, which has a sealing effect. Bentonite in flush fluid cools and lubricates the cutting tools and protects it against corrosion. The drilling fluid creates hydrostatic pressure that avoids fluid and gas penetration through the borehole.
Market Trends, Drivers, Restraints, and Opportunities:
- Increasing use of bentonite in oil well and drilling fluid application is driving the market growth.
- Growing awareness of stabilization and swelling provided by bentonite slurries in the construction industry along with high cost of steel liner usage propels the growth of the market.
- The US FDA has warned consumers to avoid some bentonite clay products that contain high amounts of lead, which can result in lead poisoning. Thus, such concerns can create challenges for the market growth.
- Rising product use across industries as groundwater barriers, absorbents for pet litter and oil & grease, liquor clarifiers, and binders in iron & steel manufacturing is anticipated to propel industry growth during the forecast period.
Scope of Bentonite Market Report
The report on bentonite market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
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Attributes
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Details
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Report Title
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Bentonite Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast
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Base Year
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2020
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Historic Data
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2018 & 2019
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Forecast Period
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2021–2028
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Segmentation
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Products (Sodium and Calcium), Applications (Foundry Sands, Iron Ore Pelletizing, Cat Litter, Drilling Mud, Civil Engineering, and Refining)
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Regional Scope
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Asia Pacific, North America, Europe, Latin America, and Middle East & Africa
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Report Coverage
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Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast
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Key Players Covered in the Report
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IMERYS SA, Minerals Technologies Inc., Charles B. Chrystal Co. Inc., Bentonite Performance Minerals LLC, Wyo-Ben Inc, Alfa Aesar, Clariant International Ltd., Volclay International and American Colloid Co.
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Bentonite market segment insights
Sodium bentonite market to account a major market share
In terms of products, the market can be segmented into sodium bentonite and calcium bentonite.
The sodium bentonite segment is expected to account for a large market share during the forecast period owing to high usage of sodium bentonite in the oil & gas sector, which includes drilling mud and making slurry walls.
The swelling property of sodium bentonite has increasing its adoption as a sealant for subsurface disposal systems. It is also used in cosmetics as a detoxifying cleanser. The sodium bentonite powder is also used as clay mask to absorb toxins and impurities and help keep the skin healthy.
Foundry sand segment to hold a significant market share
On the basis of applications, the market can be divided into foundry sands, iron ore pelletizing, cat litter, drilling mud, civil engineering, and refining.
The foundry sand segment is expected to account for a significant share of the market during the forecast period. Bentonite is used as a binder in foundry sands for metal casting of engine blocks, cast iron pans, brass water fitting, and engine blocks.
On the other hand, the cat litter segment is expected to register a high CAGR during the forecast period. Cat litters are made from calcium bentonite or sodium bentonite and are widely used across the globe due to its unique property to absorb urine or moisture, and helps in forming clumps of cat litter that can be easily scooped up. Bentonite clay is useful and convenient and widely preferred by many cat owners worldwide.
The markets in Asia Pacific and North America to grow at a robust rate
In terms of regions, the market can be fragmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The market in Asia Pacific is estimated to expand at a high CAGR during the forecast period owing to factors such as rapid growth in the agricultural sector, high usage of sulphur bentonite on crops, cereals, vegetables, and fruits to enhance crop quality and yield and increasing infrastructural activities in India, China, Japan, and South Korea. Moreover, rapidly expanding population, increasing standard of living, and rapid urbanization are key factors boosting the bentonite market growth in Asia Pacific.
North America is expected to hold a significant revenue share during the forecast period. Bentonite hill in Utah, US is a major source for bentonite clay. Factors such as rapid growth in the automotive sector, constant drilling activities, rising number of oil and gas exploration activities, increasing building and construction activities are spurring the market growth in North America.
Segments
By Products
By Applications
- Foundry Sands
- Iron Ore Pelletizing
- cat Litter
- Drilling Mud
- Civil Engineering
- Refining
By Regions
- North America
- Europe
- Latin America
- Asia Pacific
- Middle East & Africa
By Key Players
Competitive Landscape
Key players in the Bentonite market are IMERYS SA, Minerals Technologies Inc., Charles B. Chrystal Co. Inc., Bentonite Performance Minerals LLC, Wyo-Ben Inc, Alfa Aesar, Clariant International Ltd., Volclay International and American Colloid Co.
These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.
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