Attapulgite Market Size

Attapulgite Market Size

Attapulgite Market size will exceed USD 600 million by 2024, gaining at more than 8% CAGR. Developments in drilling activities all over the globe on the account of booming construction and oil & gas industries will likely have a propelling effect on the overall attapulgite market in the upcoming years.    

The product finds extensive application in salt contaminated mud for offshore drilling activities owing to its superior suspending qualities. It is used to decrease the slurry weight and increase the slurry volume. The dissolved salt quantities in the slurry do not have any adverse effects on the product properties. Attapulgite based suspending agent is highly compatible with slurries with granular, fibrous, and flake-type materials. Global oil and gas rigs count stood at over 2,000 by the end of 2015 and will likely witness major advancements in drilling technologies due to increasing demand.    

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Strict mining regulations in the U.S. may hinder the global attapulgite market growth as the country possesses a huge deposit of clay mineral. Regulations pertaining to environmental standards, land policies, waste disposal, substance toxicities, as well as safety standards mandated by OSHA and the Department of Labor will likely affect the industry in the coming years. For instance, Section 378.403(6), Florida Statutes, has defined fuller's earth as clay that possesses a high absorption capacity. It largely consists of palygorskite or montmorillonite, and also includes attapulgite. The Florida Legislature mandated reclamation of lands mined for attapulgite after July 1975. Such regulations may restrict the entry of new market participants.