New York, United State, Feb. 22, 2023 (GLOBE NEWSWIRE) -- According to a research report published by Spherical Insights & Consulting, the Global Bentonite Market Size to grow from USD 1796.00 million in 2021 to USD 3414.63 million by 2030, at a Compound Annual Growth Rate (CAGR) of 7.4% during the forecast period. The demand for bentonite is anticipated to rise due to the construction industry's continuous global expansion. Furthermore, it is anticipated that during the forecast period, the value of the bentonite market would be driven by expanding organic farming and an increase in the number of water treatment facilities globally.
Market Insights
- The Global Bentonite Market Size was valued at USD 1796.00 Million in 2021.
- The Market is growing at a CAGR of 7.4% from 2022 to 2030
- The Global Bentonite Market Size is expected to reach USD 3414.63 Million by 2030
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Browse 52 market data Tables and 62 Figures spread through 258 Pages and in-depth TOC on the Global Bentonite Market Size, Share, and COVID-19 Impact Analysis By Product (Sodium, Calcium, Sulphur and Other), By Application (Foundry sands, Cat litter, Iron ore pelletizing, Refining, Drilling muds, Civil engineering and Others) and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030.
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The Sodium segment to account for the largest market size during the forecast period
Based on the product, the Bentonite Market is categorized into Sodium, Calcium, Sulphur and Other. The Sodium segment to account for the largest market size during the forecast period. Throughout the forecast period, the Sodium segment is anticipated to maintain its leading position. Sodium bentonite is used to seal sewage lagoons, city landfills, and stock and recreation ponds. It is quite good in reducing road and highway dust. One of the least expensive and most efficient ways to treat permeable soils is with sodium bentonite. Because of its high swelling capacity, sodium bentonite is used as a binder in foundry sands because greater swelling bentonite has a higher strength in the water condensation zone. The need for foundry sand has grown in the workshops and factories that produce components for the steel, construction, and automotive industries. Additionally, this opens up a significant market for sodium bentonite manufacturers.
The Foundry sands segment to hold a higher CAGR during the forecast period.
Based on the application, the Bentonite Market share is categorized Foundry sands, Cat litter, Iron ore pelletizing, Refining, Drilling muds, Civil engineering and Others. The Foundry sands segment to hold a higher CAGR during the forecast period. Throughout the forecast period, the Foundry sands segment is anticipated to maintain its leading position while expanding at the fastest CAGR this is a result as for the preparation of moulding sand used in the production of iron, steel, and nonferrous casting, foundry bentonite is primarily used as a bonding ingredient. It generates green sand moulds with strong flow ability, compact ability, and thermal stability for the manufacturing of high-quality castings because of the special qualities of foundry sand bentonite. Such elements generate segmental expansion, which in turn feeds market growth as a whole.
| Report Metric | Details |
| Market Size 2030 | USD 3414.63 million |
| CAGR | 7.4% (2020-2030) |
| Historical Data | 2019-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Forecast Units | Value (USD Billion) |
| Segments Covered | By Product, By Application, By region |
| Report Coverage | Drivers, Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Geographies Covered | North America, Europe, Asia-Pacific, Latin America, the Middle East, Africa and Rest of the World |
| Key Companies Profiled/Vendors | Amcol Australia Pty Ltd, Volclay International, Charles B. Chrystal Co. Inc., Amsyn Inc, Wyo-Ben Inc, Minerals Technologies Inc., Kemira Oyj, Schlumberger Limited, Cimbar Performance Minerals, and MidPoint Chemicals Company. |
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North America to hold a higher CAGR during the forecast period.
The Global Bentonite Market has been segmented into five major regions: North America, Europe, Asia-Pacific, South America, The Middle East and Africa. Asia Pacific is estimated to account for the highest market share in 2022. The demand for Bentonite is being driven by the rising acceptance by the market. The Asia Pacific region dominated the market for Bentonite this is explained Due to the region's established agriculture, automotive, and construction industries as a result of expanding urbanisation, population expansion, and rising standards of life, the iron pelletizing industry has been further supported. The use of sulphur bentonite to increase the yield of several crops, including grains, pulses, fruits, and vegetables, may increase because to the rising agricultural market demand in India. Additionally, it aids in enhancing the flavour and aroma of many other crops, including grapes, oranges, and fruits like onions, ginger, and garlic. Government incentives are also encouraging the use of sulphur-based bentonite fertilisers.
Market Segment
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Bentonite Market based on the below-mentioned segments:
Global Bentonite Market, By Product
- Sodium
- Calcium
- Sulphur
- Other
Global Bentonite Market, By Application
- Foundry sands
- Cat litter
- Iron ore pelletizing
- Refining
- Drilling muds
- Civil engineering
- Others
List of Key Market Players:
- Amcol Australia Pty Ltd
- Volclay International
- Charles B. Chrystal Co. Inc.
- Amsyn Inc
- Wyo-Ben Inc
- Minerals Technologies Inc.
- Kemira Oyj
- Schlumberger Limited
- Cimbar Performance Minerals
- MidPoint Chemicals Company
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Some Recent Developments News in the Bentonite Market:
- USA, October 2020, Tri-State Construction, a firm that specialises in constructing both commercial and residential structures, has been acquired, according to a statement from Mineral Technologies Inc. This agreement aims to support MTI in maintaining its dominance in bentonite-based goods.
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