ID: MRFR/CnM/6424-HCR | February 2021 | Region: Global | 140 pages
Bentonite Market Overview:
The Bentonite Market size is expected to project at USD 2.29 billion in 2027 from USD 1.4 billion during the forecast period of 2019-2027.
This type of clay is manufactured from alteration of volcanic ash and is used for oiling the cutting head, getting rid of the drill cuttings, and covering the close bore walls. Rise in use of products across industries as groundwater barrier, the absorbing material used for pet litter and oil and grease, binders used for iron and steel manufacturing, and liquor clarifiers that help in steering up the bentonite market growth. The market scenario gives a competitive landscape encompassing marketing strategies and contributions. The key players comprehend the movements of the market and try to strategize it better.
COVID 19 ANALYSIS
COVID had an inferior impact on the bentonite business. With the spread of COVID, businesses worldwide have stopped responding positively. Organizations globally have experienced flattening their recessionary curve. The breakdown of COVID brought disruptions in the supply chain, the transformation of consumer behavior was marked, destruction in the demand of bentonite was noted, lockdown and shutdowns were faced all over the country.
The government took strict initiatives and regulations to curb the situation. Wearing masks was made compulsory by the government.
The competitors present in the bentonite market believe in merging and making partnerships with other competitors. The key players involved in the production and processing of minerals will help increase the expenses of bentonite and coal-based products. The main key players of the market are AMCOL International of United States, Wyo Ben Inc of United States, Midpoint Chemicals Company of United States, M-I Swaco of United States, Volclay International of United States, Kemira of Finland, Alfa Aeser of United States, Charles B. Crystal Co. Inc. of USA, Cimbar of the United States and Amsyn Inc. of United States.
Global Bentonite Market Share, by Application, 2018 (%)
Source: MRFR Analysis
North America is considered to cover the largest bentonite market share and covers 30% of the global production. As per the evaluation it is marked that North America accounts for the bentonite market growth rate of 4.7% during the forecast period. The growth in this region is due to spending funds on rising drilling and fracking technology along with the expansion of exploration activities for oil and natural gas thus steering up the market demand. Europe contributes to cover the second largest bentonite market share after North America, projecting at a CAGR of more than 4.5% during the upcoming years. Here bentonite market size also expands due to the rise in spending on hygiene products for pets. The European region emits a high range of clay-based litter products for personal hygiene, eliminating odor, effectively absorbing the pet waste, and conveniently cleaning the litter boxes. The region of Asia Pacific is the major region for the growth of the bentonite industry, thus generating a revenue of USD 520 million during the forecast period based on rising construction activities, along with the rise in automotive manufacturing.
The report signifies the bentonite market value and the revenue growth globally, regionally, and at the country level thus giving bentonite market analysis of the innovative bentonite market trends in each of the segmentation during the forecast period from 2019 to 2027. Other types of bentonite are sodium bentonite, carbon bentonite, and many more. The report summarises the growing marketing intelligence to make an effective decision for the growth of the market. It addresses the factors included in market dynamics that drive the market. From bentonite market analysis it was noted that the report also addresses the competition strategy and the size analysis. It also gives a holistic evaluation regarding the COVID 19 and its impact on our daily life.
|CAGR||(2022–2030): Substantial CAGR|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Product, Application, End-Use Industry and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||AMCOL International of United States, Wyo Ben Inc of United States, Midpoint Chemicals Company of United States, M-I Swaco of United States, Volclay International of United States, Kemira of Finland, Alfa Aeser of United States, Charles B. Crystal Co. Inc. of USA, Cimbar of the United States and Amsyn Inc. of United States.|
|Key Market Opportunities||Its unique properties of better flowability, thermal stability, and compatibility for better quality production of castings increase the opportunities for its demand.|
|Key Market Drivers||The use of cleansers in pharmaceuticals and manufacturing of rubber tires in the automotive industry is the major factor driving the market.|
Frequently Asked Questions (FAQ) :
Valuation of The Global Bentonite Market is projected to reach USD 1.62 BN by 2024.
Bentonite Market is projected to expand at over 4.1% CAGR during the assessment period (2019-2024).
On the basis of application, the foundry sands segment and On the basis of end-use industry, the oil and gas segment account for the largest share in The Global Bentonite Market.
North America holds the largest share in The Global Bentonite Market, followed by the Asia Pacific and Europe, respectively.
Halliburton (US), Black Hills Bentonite, LLC (US), Kemira (Finland), Minerals Technologies Inc. (US), CB Minerals (US), Clariant (Switzerland), Kunimine Industries Co., Ltd (Japan), Alfa Aesar (US), Ashapura Group (India), Pacific Bentonite Ltd. (Canada), Wyo-Ben, Inc. (US), Delmon Group of Companies (UAE), LKAB Minerals (Sweden), Cimbar Performance Minerals (US), and Kutch Minerals (India), are some of the major players operating in the Bentonite Market.