Bentonite Market Size

Bentonite Market Size

Global bentonite market size was over USD 1.40 billion in 2020 and is estimated to grow at over 8% CAGR between 2020 and 2027 owing to rising environmental concerns related to wastewater treatment mainly owing to the presence of high content of radioactive and toxic chemicals. Additionally, rapid growth in automotive, pharmaceuticals, and agriculture industries in China and India is projected to boost the demand for bentonite.

High focus towards infrastructural growth in countries such as Brazil, Argentina, India, China, and Malaysia due to rising public expenditure is projected to boost the construction industry. Increasing demand for high grade iron ore has led to growing adoption of the ore pelletizing process which may further propel the growth of bentonite market across the globe. Growing iron & steel manufacturing in emerging economies such as China, India and Japan have led to rising demand for iron ore.

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Rising awareness of stabilization provided by bentonite slurries in the construction industry along with high cost of steel liner usage propels the product demand. Bentonite slurries retain their position in the excavated pit and avoid flowing into the surrounding soil which has a sealing effect. Therefore, high performance of bentonite in a wide range of industries is projected to drive the bentonite market share over the forecast period.

Rapid technological advancement, allowing the adoption of new drilling and fracking techniques in the U.S. has ensured that the extraction of hydrocarbons is more economical, which has increased the production of oil & gas, further accelerating bentonite market demand. The availability of rich bentonite reserves in the U.S., predominantly in the state of Wyoming, along with the presence of several leading manufacturers such as Minerals Technologies Inc., Black Hills Bentonite, CETCO, and Halliburton may stimulate market growth.

Growing demand for natural healthcare products and rising awareness of bentonite’s absorptive properties is predicted to increase product demand for personal care & health products. The product has the capability to absorb fluids and swell up to several times in size, which is increasing its demand for edible clay products designed to absorb toxins from the digestive system. The product is non-toxic in nature which prevents adverse health impacts and allows the removal of trapped toxins with normal bodily waste. Such detoxifying clays may improve hair, skin & eye health, uplift mood and improve energy availability. Moreover, these products can help in treating indigestion, stomach-ache, diarrhoea, heart burn, acid reflux and improve pH balance.

Bentonite also finds increasing use in various hair & skin care products as a thickener, texturizer, filler and binder. This product helps in the absorption & removal of impurities and oil from the skin, thus improving bentonite’s suitability for use in facial masks, foundations, facial cleansers and acne treatment lotions & treatments. Therefore, growing demand for pharmaceutical, cosmetic and personal care products due to growing population and increasing income of the consumers is projected to provide significant growth opportunities for bentonite market over the forecast period.