In a recent business intelligence study, FactMR presents the nitty-gritty of the global bentonite market considering 2014-2018 as the historic year and 2019–2027 as the stipulated timeframe. The business report highlights the drivers, restraints, opportunities and trends affecting bentonite market growth. Bentonite is a naturally occurring clay with excellent capabilities of absorbing and adsorbing. With these properties bentonite is being extensively used in personal care, pharmaceutical, construction and oil & gas industry. Increasing demand for cosmetic products and rapid development in the construction sector has resulted in heightened demand for bentonite as a cleansing agent and water absorbing agent respectively. Increasing consumption of bentonite as a binder in foundry-sand is expected to propel growth of the market over the forecast period (2019-2027).
Sodium bentonite is the most preferred variant for foundry and construction. Whereas, calcium bentonite is used in number of applications such as cosmetic and animal feeding. The above represented scenario is forecast to drive the market at a steady CAGR of ~5% in the forecast period, reveals FactMR, in a recently published report on global bentonite market.
Key Takeaways of Global Bentonite Market
- Global bentonite market is expected to create an absolute $ opportunity of worth US$ 500 Mn during the forecast period, adding 1.2X times more value in 2027 as compared to 2019
- Sodium bentonite is projected to account for more than half of the total market share, because of its lubricating properties enabling its high utilization in oil and gas extraction.
- In terms of value, drilling fluid segment accounted for quarter of the global share in 2018 and is projected to grow at higher rate during the first half of the forecast period. Calcium bentonite is forecast to gain 101 BPS to reach value share of 30% by the end of 2027 from 28.93% in 2019
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More Valuable Insights on Bentonite Market
FactMR, in its new offering, presents an unbiased analysis of the global bentonite market, presenting historical demand data (2014-2018) and forecast statistics for the period of 2019-2027. The study divulges essential insights on the bentonite market on the basis of product type (sodium, calcium and others), application (drilling fluid, binder, sealant, absorbent or adsorbent, clarification agent and others) and end use industry (oil, foundry, construction, food, pharmaceuticals and others) across six major regions.