The bentonite market is poised for significant growth, with a projected compound annual growth rate (CAGR) of 6.5% from 2023 to 2033. This growth trajectory reflects the increasing demand and expanding applications of bentonite across various industries. Over the past few years, the market has seen considerable expansion, driven by its versatile uses in areas such as drilling fluids, iron ore pelletizing, and pet litter. By 2033, the market is expected to reach a valuation of USD 3.8 billion, underscoring its economic importance and the sustained interest from key industry players.
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.
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.
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Key Companies Profiled in the Bentonite 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.
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).
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