Increasing demand from oil & gas industry for drilling fluids is expected to fuel the demand for organo-modified bentonite. According to a new study by Future Market Insights (FMI), the market for organo-modified bentonite is set to reach US$ 444.8 Mn by the end of 2031.
Organoclays have found widespread use as fillers for polymers, rheological additives & thickeners in polymer solutions and as components of systems used as drilling fluids. Furthermore, the bulk of organo-modified bentonites is prepared using derivatives of quaternary ammonium salts, consisting primarily of long alkyl chains and functional groups such as hydroxyethyl, benzyl and others.
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Moreover, organo-modification has resolved several problems associated with the combination of bentonites with polymers. Its increasing application across diverse sectors will continue to drive the market through the forecast period.
Key Takeaways of Organo-Modified Bentonite Market Study
- Organi-modified bentonite sales to increase at above 6% CAGR through the forecast period
- Backed by strong presence of oil and gas sector, the U.S. will lead North America with a share of above 90% in 2021
- Application across diverse sectors will enable the U.K. market to register 5.5% Y-o-Y growth in 2021
- Germany and France are projected to record high demand driven by rising demand from paints & coatings sector
- China will continue dominating East Asia, while South Korea and Japan will register positive sales
Demand from Diverse Industry Set to Drive Growth
According to FMI, organo-modified bentonite has immense scope for application in the paint and coating industry owing to its characteristics such as strong thickening ability, good compatibility and are applicable to low and middle polar solvent systems. Also, organo-bentonites have a positive influence on rheological properties such as drilling fluid, completing fluid, and others including anti-sagging, which reduces settling in containers. Organo-modified bentonite is especially manufactured for use in solvent-based system, this solvent-based system containing good adhesives properties such as durability.
Who is Winning?
The global organo-modified bentonite market can be considered as consolidated, few leading players account for a prominent share of the total Organo-Modified Bentonite market. Manufacturers are focusing on long-term contracts with end users for maximizing profits and ensuring continuous revenue flow.
Key market participants including Elementis, BYK, MI-Swaco, Laviosa, Lamberti, Huate Corp., Unitech Chemicals (Zibo), Camp Shining, Tolsa, Manek Group, Zhejiang Anji Tianlong Organic Bentonite Co. Ltd., Zhejiang Qinghong New Material Co. Ltd. and Changxing Guangda New Materials Co., Ltd. amongst others are focusing on increasing their share in global market by entering into strategic acquisitions of medium players and collaboration with other market participants.
Want to Know More?
Future Market Insights has published a market research report on the Organo-Modified Bentonite market that contains global industry analysis for 2016–2020 and opportunity assessment for 2021–2031. The report provides insightful analysis of the Organo-Modified Bentonite market through three different segments- application, end use and region. The Organo-Modified Bentonite market report further provides demand trends of different types across industry verticals, a comprehensive list of service providers in the market along with a detailed overview of the parent market.
What is the COVID-19 Impact on Organo-modified Bentonite Sales?
All regional governments took actions to contain COVID-19 pandemic. Some of the measures included social distancing, lockdowns, and closures of major manufacturing hubs that created supply-demand gap and impacted almost all industrial activities adversely. Key end users of organo-modified bentonite market include oil & gas, foundry, paints & coatings, textile, water treatment, cement, cosmetics, lubricants & greases and coal briquette, amongst which oil & gas industry registered dwindling sales amid pandemic.
Restrictions imposed on drilling activities to contain the spread of the virus negatively affected overall growth of the industry. The cosmetics industry too exhibited slow growth amid the pandemic. Other factors including disruption in supply chain, raw material supply, transportation and lack of labor hampered the overall organo-modified bentonite market.
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