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The increase in foundry and metal casting application in conjunction with the growing automotive and oil & gas industry is expected to drive growth in the market.
Market Size – USD 1.32 Billion in 2018, Market Growth – CAGR of 6.1%, Market Trends –Increasing demand for bentonite from the oil & gas industry as an additive for drilling mud
The Bentonite Market is forecasted to grow from USD 1.32 Billion in 2018 to USD 2.16 Billion by 2026, at a CAGR of 6.1%, during the forecast period. The market is primarily driven by the increasing demand for bentonite from the oil and gas industry as an additive for drilling mud. Increase in oil and gas drilling activities in combination with increasing application in geosynthetic clay liners and the medical industry are expected to drive the market during the forecast period.
Increasing infrastructural growth in China, India, Japan and Malaysia is predicted to boost the construction industry as a result of increased public spending and thus accelerate the size of the market. The increase in environmental concerns about wastewater treatment due to high toxic and radioactive chemicals is expected to promote growth for bentonite. Wastewaters generally have a high demand for chemical oxygen, which causes risk of mortality for aquatic animals and imparts unwanted odor and dirt.
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Some of the players profiled in the report are AMCOL International (US), Wyo-Ben Inc (US), MidPoint Chemicals Company (US), M-I SWACO (US), Volclay International (US), Kemira (Finland), Alfa Aesar (US), Charles B. Chrystal Co. Inc. (US), Cimbar (US), and Amsyn Inc (US).
Further key findings from the report suggest
- The Bentonite Market is forecasted to grow from USD 1.32 Billion in 2018 to USD 2.16 Billion by 2026, at a CAGR of 6.1%, during the forecast period. A rapidly rising population and higher urbanization have boosted global demand for processed food products, driving food demand.
- The market for sodium bentonite is expected to grow the largest at USD 1.40 Billion in 2026, at a CAGR of 7.4% during the forecast period. Bentonites of sodium and calcium are primarily used in mud drilling and have high plasticity. In 2018, North America was the largest consumer of bentonite in terms of regional demand, with the U.S. having the largest share owing to the country’s large-scale drilling and exploration activities.
- The market for foundry sands is estimated to reach USD 561.9 Million in 2026, at a CAGR of 6.6% during the forecast period. The demand for bentonite in foundry molds for metal casting of brake drums, engine blocks, manhole fittings, brass water fittings, transmission housings and cast iron panels is increasing.
- The market for Asia Pacific (APAC) is expected to reach USD 648.4 Million in 2026, at a CAGR of 9.3% during the forecast period due to the favorable polices and beneficial initiatives by the governments of India, China and Japan. It is estimated that the region is experiencing high demand for bentonite from the oil & gas, metallurgy and construction industries. It is likely that the majority of future demand will come from India, China, Greece, Turkey and Australia.
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The Global Bentonite Market is segmented as follows:
Type Outlook (Kilo Tons) (Revenue, USD Million; 2017-2027)
- Sodium Bentonite
- Carbon Bentonite
Application Outlook (Kilo Tons) (Revenue, USD Million; 2017-2027)
- Foundry Sands
- Iron Ore Pelletizing
- Pet Litter
- Drilling Mud
- Civil Engineering
End-User Outlook (Kilo Tons) (Revenue, USD Million; 2017-2027)
- Iron & Steel
- Oil & Gas
Market Segmentation by Regions:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Point Summary of the Report:
The global Bentonite market research report is an investigative study offering key insights into the latest growth trends, developments, technological and product advancements, and the research and development scenario. The report also covers the market aspects that directly influence the growth of the market. These features include strategies undertaken by the prominent players, their expansion tactics, and the product portfolios of the companies, and micro and macro-economic factors.
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Key Coverage of the Bentonite Market:
- Insightful information regarding the global Bentonite market
- Identification of growth in various segments and sub-segments of the Bentonite market
- Strategic recommendations for investment opportunities
- The report covers significant statistics related to the industry along with products, applications, price analysis, demand & supply, and production and consumptions rate
- Emerging trends and current market segment analysis to help investors formulate new business strategies
- Accelerates the decision-making process through the availability of the drivers and limitations
Global Bentonite Market: Table of Contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Bentonite Market Segmentation & Impact Analysis
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