As per Future Market Insights, the bentonite industry is estimated to grow at a CAGR of 6.5%. In recent years, the Bentonite Market has grown significantly. This rise is expected to continue in the next years, commencing in 2023 and ending in 2033, due to the increasing use of bentonite in numerous industries around the world.
Bentonite is used in a wide range of applications, including drilling fluid, binders, absorption/adsorption, clarifying agents, and others. As a result, the expansion of end-use sectors presents an appealing opportunity for bentonite suppliers. In 2023, the global Bentonite market is expected to reach US$ 2.1 billion.
Because of expanding energy demands, the bentonite industry is seeing increased utilization in oil and gas drilling activities. Furthermore, various bentonite applications in end-use sectors like as building, Foundry, medicines, and others have driven up demand in recent years and are expected to dominate in the near future.
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Infrastructure capitalization is rising globally in developing and emerging nations, attracting major investments in building activities. Raw resources such as building aggregates and bentonite benefit as a result. Because of its swelling qualities, bentonite is commonly used in construction as a sealant. During the forecast period, rising building activity around the world is likely to enhance demand for bentonite.
Key Takeaways
- The United States is expected to dominate the North American market, accounting for more than 80% of the market through 2033.
- Bentonite solution sales in the United Kingdom are predicted to expand at a staggering 5.5% CAGR by 2033.
- During the forecast period, demand for Bentonite in China is expected to grow at an outstanding 6% CAGR.
- The Drilling Fluids market is estimated to expand at a 6.3% CAGR between 2023 and 2033.
- The oil segment is predicted to increase at a CAGR of 6.2%.
“The United States is seeing profitable expansion in the global bentonite market as a result of increased investment by manufacturers aimed at boosting bentonite production capacity. Additionally, expanded oil and gas exploration efforts are likely to lessen reliance on other countries for energy. This is projected to boost bentonite sales in the near future,” says an FMI analyst.
Competitive Landscape
- Bentoproduct, a Bosnian organization that produces bentonite-based items, unveiled a takeover strategy to acquire Nemetali, a local mining organization, in January 2023. The securities commission of Bosnia and Herzegovina’s Serb Republic authorized the offer.
- According to a research report released in April 2023, Phoslock Environmental technologies, a worldwide environmental technology firm that utilizes bentonite to eradicate extra nutrients from water through agricultural run-off, and industrial, and sewage treatment works, aims to increase operations in Casper.
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Top Key Player in the Global Industry
- Ashapura Group of Companies
- Black Hills Bentonite, LLC
- Charles B Chrystal Co. Inc.
- Clariant AG
- Halliburton Co.
- Kemira OYJ
- Kunimine Industries Co. Ltd.
- Kutch Minerals
- Mineral Technologies Inc.
- Polymer Drilling Systems (PDS) Co Inc.
- Wyo-Ben Inc.
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global bentonite market presenting a historical analysis from 2018 to 2022 and forecast statistics for the period of 2023 to 2033.
The study reveals essential insights by product type (calcium, sodium), by application (drilling fluids, binders, sealants, absorbents, clarification agents), by end use industry (oil, foundry, construction, food, pharmaceuticals) & region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
About the Chemicals and Materials Division at Future Market Insights
The chemicals and materials team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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