In recent years, the bentonite market has grown significantly. Because of the rising use of bentonite in many industries around the world, this rise is projected to persist over the coming years, beginning in 2023 and ending in 2033. As per Future Market Insights, the bentonite industry is estimated to grow at a CAGR of 6.5%.
Bentonite is utilized in a variety of sectors, including drilling fluid, binders, absorption/adsorption, clarifying agents, and others. As a result, growth in end-use industries creates appealing potential for bentonite suppliers. The global Bentonite market is anticipated to reach US$ 2.1 billion in 2023.
The bentonite business is seeing greater utilization in oil and gas drilling activities as a result of rising energy demands. Furthermore, several bentonite uses in end-use sectors like as construction, Foundry, pharmaceuticals, and others have generated a rise in demand in recent years and are expected to dominate in the near future.
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.
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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.
Top Key Player in the Global Market
- 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.
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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).
Bentonite Market by Category
Product Type:
- Sodium
- Calcium
- Others
Application:
- Drilling Fluids
- Binder
- Sealant
- Absorbent/Adsrobent
- Clarification Agent
- Others
End Use Industry:
- Oil
- Foundry
- Construction
- Food
- Pharmaceuticals
- Others
Region:
- North America
- Latin America
- Europe
- Asia Pacific
- 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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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