Attapulgite Market Analysis

Attapulgite Market Analysis

Based on product, it has been broadly classified into colloidal and sorptive grades based on its chemical and physical characteristics. Colloidal grades find a wide range of applications in oil and water base foundry sand binders, oil-well drilling, as a paint thickener and gelling agent, polishes, for adhesive viscosity control, as a raw material for cat litter absorbents, as well as in laundry washing powders. This segment accounted for over a third of the global attapulgite market in 2015 and will hold sway throughout the forecast span with a CAGR of more than 9%.

Sorptive grade products are mainly used in petroleum refining, neutralizing of vegetable oils and fats, agro-based industries as carriers for powdered agrochemicals, intestinal and antidiarrheal medicines, and floor absorbents. This product segment accounted for close to a third of the global attapulgite market at will have a sluggish growth rate in comparison to colloidal grades, losing its market share due to wider application sectors of the latter type. Non-flammability and non-hazardous nature of the product make it a suitable additive in industrial cleaners.

The clay mineral finds a vast application segment in end-user industries including cat litter absorbents, agriculture, pharmaceuticals, oil & gas, paints & coatings, and several others. Cat litter absorbents industry recorded a significant share of the global attapulgite market share, registering more than USD 100 million in 2015. This segment will likely flourish at a decent CAGR of more than 8% in the forecast span owing to the increasing trends of petting cats all over the world. Growing awareness about the feline family, coupled with development of environment friendly and quick acting litter absorbents based on the clay mineral will catalyze the overall market growth in the coming years.
 

Heavy amount of oil & gas drilling activities around the world will also have a propelling effect on the product demand, and this segment accounted for over a quarter of the overall attapulgite market size. This segment will likely flourish at close to 9% CAGR in the forecast span, owing to its extensive application in offshore drilling rigs with the mud salinity level more than that of the sea water without affecting the filtration properties of the mud. Its superiority to other additives such as bentonite in presence of contaminants such as salts, calcium sulfate or magnesium sulfate gives the product an additional advantage.
 

North America registered a significant 2015 share with more than 33% will likely have a healthy growth by a CAGR of more than 7% throughout the forecast span. Vast deposits of the mineral in the U.S. lead to easy availability of the product as raw materials in several regional end-user industries. The clay mineral is commonly found in the southeastern United States.
 

Increasing end-user demand in the Asia Pacific, due to increasing industrialization, will have a notable influence on the global attapulgite market in the coming years. The region registered over USD 80 million in 2015 and is set to flourish at over 9% CAGR in the forecast span. Asia Pacific will likely overshadow North America in terms of product demand by the end of 2024.