Global Bentonite Market size worth over USD 2.50 Bn by 2027
Published Date: June 21, 2021 Authors: Kunal Ahuja, Kritika Mamtani
According to a new research report by Global Market Insights, Inc., the global Bentonite Market size is likely to surpass USD 2.50 billion by 2027.
Rising use in drilling fluid and oil well cement applications should drive bentonite market growth globally. Also, increasing demand new applications such as cleansers in pharmaceuticals and rubber tires in the automotive industry is driving the market worldwide. Furthermore, well-established agriculture and pharmaceutical industries in emerging countries such as China and India should provide opportunities for bentonite market growth.
Growing demand from oil refining and iron ore industries should increase the requirement for calcium bentonite
Calcium bentonite product should show significant growth in the predicted period and reach at the value of USD 510 Million by the end of 2027. Calcium bentonite possesses high acid content which ensures heavy metal and gum removal, and a high activation degree which allows it to react with impurities present in oil, thereby reducing refinery time and enhancing efficiency.
Calcium bentonite can be found in various industrial oils such as diesel fuel, lubricants, dark oils, and disposed engine oil. Calcium bentonite is more reactive to moisture and also retains good molding characteristics over a wide moisture operating range. For foundries seeking improved dimensional control and mold density, calcium bentonite can offer up to 25% greater green compression strength. It is highly effective additive for hole cleaning and solids suspension in synthetic and oil-based drilling fluids.
The growth of oil refining industry is mainly attributed to surging demand for petroleum products and rapid industrialization. Thus, growth in the global oil refining industry provides significant opportunities for bentonite market growth.
The presence of calcium bentonite improves the strength and other physical properties which are found suitable in the blast furnace for the production of iron ore pellets. It improves slag bonding and pellet properties and improves cohesiveness of particles and form bonding. Bentonites water absorption capacity and colloidal properties it is used to convert iron ore fines to pallets. Fine powder helps in to develop good strength pallets. Even at lower additions it develops green and ball strength. The high absorption capacity enables to build bond of pallets and prevent caking or clumping. Increasing infrastructure development and industrialization in emerging economies such as India and China have accelerated the growth of iron ore industry. The rapid growth of iron ore industry leads to surging demand for bentonite market.
“As per industry forecasts, calcium bentonite product to witness gains over 8.9% by the end of 2027 pertaining to rising demand from oil refining and iron ore industries”
Browse key industry insights spread across 370 pages 434 market data tables and 38 figures & charts from the report “ Global Bentonite Market By Product (Sodium, Calcium, Sulphur) Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market, 2021- 2027” in detail along with the table of contents:
Rising pet ownership in Europe should propel product demand
Europe bentonite market is likely to reach USD 645 million by 2027. Rising pet ownership in Europe is predicted to stimulate the growth of bentonite market size. Calcium bentonite which is used to manufacture non-clumping pet litter dominates the regional market with lesser use of sodium bentonite. Calcium-based products are generally treated with sodium carbonate to form synthetic bentonite which has much improved swelling properties.
Calcium-based products owe their prominence in the pet litter industry to the easy availability of local and low-cost bentonite sources. These products, being non-clumping in nature, prevent the formation of sticky clumps in litter boxes which may adhere to pet skin and thus create the risk of ingestion when cats lick themselves.
The pet ownership in Europe has increased significantly on account of the reduced importance of conventional social support caused by urbanization. The rising number of people staying alone, especially in cities which has increased the requirement for non-human support systems. The presence of fewer relatives nearby and rising divorce rates has reduced people’s involvement in local communities thereby increasing pet ownership. High pet ownership with a significant rise forecasted in the future timeframe may lead to increased demand for pet litter thereby stimulating bentonite market growth.
Players in bentonite market are adopting different strategies such as partnership and mergers & acquisition to sustain their position in the global bentonite industry. The major players include Wyo-Ben, Mineral Technologies, Halliburton, Delmon Group of Companies and CETCO.