Bentonite Market Size By Product (Sodium, Calcium, Sulphur), By Application (Foundry Sands, Cat Litter, Iron Ore Pelletizing, Refining, Drilling Muds, Civil Engineering), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, Ukraine, France, Italy, Spain, Russia, Poland, Greece, China, India, Japan, South Korea, Thailand, Indonesia, Australia, Brazil, Saudi Arabia, UAE, South Africa), Application Potential, Price Trends, Competitive Market Share & Forecast, 2018 - 2024
Bentonite Market may exceed USD 1.95 billion by 2024; according to a new research report.
Rising product demand for iron pelletizing operations in the steel industry may accelerate growth of bentonite market. The upgradation of iron ore to improve iron content results in the generation of iron ore filter which requires pelletizing if it is to be used in steel manufacturing operations. The product acts as a binder by imparting high strength to roasted & dry pellets thereby ensuring their safe transportation, which may stimulate product demand.
Increasing pet ownership in Germany, UK and France on account of reducing community involvement and the breakdown of conventional social support systems has led to growing demand for pet litter products thereby stimulating bentonite market growth. Moreover, the product eliminates undesirable odors by allowing regular removal of urine & feces along with providing cost-efficiency as compared to its conventional clay litter counterparts owing to its longer shelf life which may further boost bentonite market growth.
Rise in offshore drilling activities in the U.S. to satisfy rising oil & petrochemical demand and deal with exhausting onshore petroleum reserves may promote growth of bentonite market size. The product increases hydrostatic pressure in the borehole thus preventing the ingress of gas & fluid and increasing stability. It also cools and lubricates the drill bit, protecting it from corrosion and keeping the cuttings in suspension thereby preventing the formation of sludge at the borehole bottom which is further predicted to stimulate market growth.
Sodium bentonite market from civil engineering applications was valued at over USD 65 million in 2017. This product possesses excellent bonding strength, plasticity, lubricity, low permeability and compressibility. It has diverse application potential in foundation & excavation works which include protective barriers, digging bored piles, diaphragm walls, and the construction of cutoff walls, grouting mortars. The product ensures foundational stability by preventing wall collapse, offers sealant properties, prevents debris deposition at the base of excavations, and allows easy displacement by concrete which is poised to stimulate the growth of bentonite market.
North America led by the Mexico, Canada, and the U.S. calcium bentonite market may witness gains of about 5% by 2024. This product offers healing, detoxifying and curative properties which increases its suitability for cosmetics and natural healthcare products. It enhances the immune system and reduces the possibility of infections by eliminating toxins which may enter the body via unhealthy food, paints and pesticides, thereby creating growth opportunities for bentonite market.
Europe sodium bentonite market demand from foundry sands applications led by UK, Germany, France and Spain may surpass USD 50 million in the forecasted period. This product possess high swell capacities & viscosity thereby making it ideal for green sand formulations used in iron & steel casting industry. The product serves as the glue which holds various particles of foundry sand together and provides high strength in less preparation time which may promote growth of bentonite market.
Bentonite market share is competitive and moderately fragmented among various manufacturers such as Minerals Technologies, CETCO, Delmon Group, Halliburton, Ashapura Minechem, MIDPOINT Chemicals, CB Minerals and CIMBAR Performance Minerals. Prominent manufacturers are indulging in strategic acquisitions to achieve market expansion and in the construction of new production facilities to meet rising product demand.