On account of diverse applications across industries such as oil & gas, pharmaceuticals, construction, food, and cosmetics, global bentonite market will exhibit promising growth during 2019-2027. Fact.MR’s latest study projects the CAGR at 5% through the course of forecast period.
“Bentonite’s ability to expand 10X its volume makes it ideal for drilling and mud-rotary processes. Moreover, preponderance of global oil & gas producers is causing a spike in demand for bentonite. Amplified demand for global energy consumption will push the market growth through 2027,” concludes Fact.MR.
Bentonite Market – Key Findings
- Oil & gas industry continues to be the prominent end-use industry of bentonite.
- Sodium bentonite is witnessing prolific adoption, especially in drilling mud applications.
- Bentonite consumption is extensively driven by its water treatment applications.
- Asia Pacific bentonite market constitutes 42.3% market share.
- North America bentonite market will observe impressive CAGR through the forecast period.
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Bentonite Market – Key Driving Factors
- Bentonite is increasingly being utilized in skin care applications owing to its impressive absorbing properties.
- Heightened demand for bentonite in the construction industry as a sealing agent is propelling the growth of market.
- High viscosity of bentonite continues to expedite its usage in lubricant applications.
- Bentonite’s nutrient offering and water holding properties are being preferred by farmers to treat soil nutrient deficiency.
- SME’s in emerging economies are receiving greater government incentive thereby favoring the market growth.
Bentonite Market – Key Restraints
- Stringent government regulations against the use of bentonite with certain harmful chemical additives are limiting the growth of market.
- Bentonite market is highly competitive owing to its fragmented nature which makes it challenging for market players to garner significant market share.
The global bentonite market is a highly fragmented landscape with numerous regional and global manufacturers. Key players featured in this Fact.MR study include, but are not limited to, Halliburton Co., Mineral Technologies Inc., Clariant AG, Kunimine Industries Co., Kemira OYJ, Kutch Minerals, and Charles B Chrystal Co. Inc. Quality and pricing of bentonite remains the key focus areas of market players. To ensure long-term gains, they are collaborating with leaders of end-use industries to boost the consumption of bentonite through 2027. Prominent players must broaden their end-user applications for indubitable competitive advantage.
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More About the Report
This 170-page study offers in-depth commentary on the bentonite market. The study provides compelling insights on the bentonite market on the basis of product type (sodium and calcium), application (drilling fluid, clarification agents, sealant, absorbent, and binder), and end-use industry (pharmaceuticals, construction, foundry, oil, and food) across seven regions (North America, Western Europe, Latin America, Eastern Europe, Asia Pacific Excluding Japan, Middle East & Africa, Japan).