The bentonite market is poised for substantial growth with an estimated Compound Annual Growth Rate (CAGR) of 6.5%, according to Future Market Insights. In recent years, the market has witnessed significant expansion, driven by the increasing utilization of bentonite across various industries globally. This upward trajectory is anticipated to persist from 2023 to 2033, underscoring the sustained demand for bentonite and its diverse applications in different sectors. The projected CAGR highlights the industry’s resilience and its pivotal role in meeting the evolving needs of various sectors worldwide.
Bentonite is used in the drilling fluid, binders, absorption/adsorption, clarifying agents, and other industries. As a result, expansion in end-use industries is creating attractive opportunities for bentonite suppliers. In 2023, the global bentonite market is expected to reach US$ 2.1 billion.
Because of rising energy demands, the bentonite industry is seeing increased usage in oil and gas drilling activities. Furthermore, numerous applications of bentonite in end-use sectors such as building, Foundry, medicines, and others have caused a surge in demand in recent years and are projected to dominate in the near future.
Empower Your Growth – Request Your Sample Report for a Strategic Edge! https://www.futuremarketinsights.com/reports/sample/rep-gb-348
Infrastructure capitalization is expanding in developing and emerging markets around the world, attracting significant investments in building operations. As a result, raw materials such as building aggregates and bentonite benefit. Because of its swelling properties, bentonite is mostly employed in construction for sealant purposes. Growing construction activity around the world is expected to boost demand for bentonite during the predicted period.
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.
Ready to scale your business? Start by obtaining the essential insights you need with a custom report crafted exclusively for you. Request it now! https://www.futuremarketinsights.com/customization-available/rep-gb-348
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.
Key Companies Profiled
- 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.
Have questions about the report? Feel free to ask us anything to gain the clarity you seek about this valuable resource: https://www.futuremarketinsights.com/ask-question/rep-gb-348
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 Future Market Insights (FMI)
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.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube