Bentonite Market By Product Type (Sodium, Calcium), By Application (Drilling Fluid, Binder, Sealant, Absorbent, Clarification Agents), By End-use Industry (Oil, Foundry, Construction, Food, Pharmaceuticals), By Region - Global Market Insights 2019 to 2027
Bentonite Market to Demonstrate Steady Growth, With Expansion in Niche Applications
Impressive absorbing and adsorbing properties of bentonite, makes it a key ingredient in skin care products. In addition, increasing consumption of bentonite as a sealing agent in construction industry will assist the market’s growth. Excellent plasticity and lubricating properties with high dry-bonding strength of bentonite is poised to increase its consumption in personal care products and construction industry.
Bentonite is able to expand 10 times its volume which provides it its slippery, viscous properties due to which it acts as a lubricant. Owing to its aforementioned properties bentonite is used in mud-rotary and drilling processes. With a large number of oil and gas producers around the globe, consumption of bentonite as a drilling fluid for extraction of crude oil and natural gas has amplified.
With its impressive water holding and nutrient offering ability bentonite is used to remove dryness and nutrient deficiency of soil. Bentonite has diverse applications in the field of skin care, food, construction, pharmaceuticals and oil & gas, which is anticipated to propel the growth of bentonite market at a CAGR of more than 5% during the forecast period (2019-2027).
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Sodium Bentonite Accounts for More than 50% of Bentonite Market Share
Sodium bentonite expands to a greater degree as compared to calcium bentonite. Growing infrastructure development and increasing demand for steel and iron ore across various industries are some of the key factors that are expected to drive the demand for sodium bentonite in the foundry and construction industry.
Escalating demand for extracted oil and natural gas will fuel the growth of bentonite market to greater heights. Attributed to the aforementioned factors, sodium bentonite market is anticipated to create an absolute $ opportunity of worth US$ 1,000 Mn by 2027.
Bentonite being a natural material is extracted from mines across the world. National and regional governments have imposed restrictions on trans-continental trade of bentonite due to depletion of natural resources in the respective regions. As a result, end use industries in regions with low reserves of bentonite are focused towards adoption of alternatives to bentonite. This is projected to adversely affect the market to a certain extent during the forecast period.
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North America to Govern the Bentonite Market
North America accounts to more than 30% total global production of bentonite. In 2019, North American bentonite market was valued at around US$ 600 Mn, and is expected to expand at a leading growth rate vis-a-vis other regions. With rapid economic development in countries such as India and China are leading to rise in disposable income, especially among the middle class.
Escalating demand for consumer care products such as toiletries and personal care products in China and India will create significant demand for bentonite. Increasing end-user industry output and growing applications of bentonite are some of the key factors that are projected to fuel demand for bentonite over the forecast period.
Key Players to focus on Aggressive Pricing Strategy
With the presence of numerous global and local bentonite manufacturers, players are focusing towards pricing and quality of bentonite. Collaboration of various foundries and drilling industry players over long term forecast will help to increase the consumption of bentonite by the respective players.
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Bentonite Market Segmentation
Fact.MR has studied the bentonite market with detailed segmentation on the basis product type, application and key regions.
By Product Type :
By Application :
- Drilling Fluid
- Clarification Agents
By End-use Industry :
By Region :
- North America
- Western Europe
- Latin America
- Eastern Europe
- Asia Pacific excluding Japan
- Middle East & Africa (MEA)
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