The global bentonite market will experience encouraging growth from 2019 to 2027 due to its wide range of uses in sectors like oil and gas, pharmaceuticals, construction, food, and cosmetics. According to the most recent study by Fact.MR, the CAGR will be 5% over the course of the forecast period.
The global bentonite market is expected to grow at a steady pace over the next few years. Bentonite is a type of clay that is used in various industries, including construction, drilling, cosmetics, and pharmaceuticals. The demand for bentonite is primarily driven by its excellent rheological and binding propertiesThe construction industry is the largest consumer of bentonite, accounting for more than 40% of the market share. Bentonite is used as a binding agent in construction materials such as concrete, grouts, and mortars. The drilling industry is another major consumer of bentonite, as it is used in drilling muds to lubricate and cool the drill bit, and to seal the borehole walls.
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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.
Key Segments of Bentonite Industry Research
- By Product Type :
- By Application :
- Drilling Fluids
- Clarification Agents
- By End-use Industry :
- By Region :
- North America
- Latin America
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.
There are many regional and international manufacturers on the highly fragmented global bentonite market. Halliburton Co., Mineral Technologies Inc., Clariant AG, Kunimine Industries Co., Kemira OYJ, Kutch Minerals, and Charles B Chrystal Co. Inc. are just a few of the major participants highlighted in this Fact.MR study. Bentonite’s quality and cost continue to be the primary focus of industry players. They are working together with top executives from end-use industries to increase the consumption of bentonite through 2027 in order to guarantee long-term gains. For a clear competitive advantage, major players must broaden the end-user applications they offer.