Dublin, Oct. 27, 2020 (GLOBE NEWSWIRE) -- The "Attapulgite Market Size, Share & Trends Analysis Report by End-use (Chemicals, Oil & Gas, Pet Waste Absorbents), by Region (North America, Europe, APAC, Central & South America, MEA), and Segment Forecasts, 2020 - 2027" report has been added to ResearchAndMarkets.com's offering.
The global attapulgite market size is anticipated to reach USD 353.8 million by 2027 registering a CAGR of 2.9%. Increase use of the attapulgite mineral in pet waste absorbents, such as cat litter, is projected to assist in the market growth.
The pet waste absorbents segment accounted for a volume share of 12.9% in the global market. The mineral is used in the manufacturing of absorbent products, which are primarily used as pet litter for cats, birds, dogs, and guinea pigs.
It absorbs 300% more liquid or urine compared to other minerals in pet litter applications and also has the ability to restore itself while staying intact. Superior absorbent properties of attapulgite prevent the clumping of pet waste. It also draws moisture and smell from animal/pet feces. It is lighter in nature compared to bentonite pet litter products. These products provide several advantages, such as they are economical, have excellent odor control & absorbing capacity, and can be recycled.
Attapulgite products are widely used in oil drilling applications. Some of the advantages of attapulgite-based suspending agents are effective in lost circulation methods, easy availability, low cost compared to other lost circulation methods, and high shelf life of up to 24 months. In addition, these products remain stable at high temperatures and high-pressure conditions at the bottom of oil wells. Hence, an increase in the demand for oil & gas products is likely to fuel market growth over the coming years.
The U.S. has large deposits of attapulgite in Florida and Georgia states, wherein multinational companies, such as BASF, hold a prominent position. The country is among the leading producers and consumers of attapulgite minerals and related products. The demand for the product from refining & processing in the oil & gas industry is projected to assist in the market growth in the long run. BASF is the leading producer and processor of attapulgite minerals. The company's mining operations cover over 16,000 acres of area in Florida and Georgia.
Attapulgite Market Report Highlights
- Asia Pacific anticipated to be the second fastest-growing regional market at a CAGR of 3.6% over the forecast period
- This growth is attributed to the growing production of paints & coatings and adhesives & sealants and high demand from fertilizers & agrochemicals sector in China and India
- The expansion of the oil & gas sector in refining and processing in GCC countries is likely to attract significant demand for mineral over the coming years
- Slow economic activities on a global level since the last quarter of FY 2019 coupled with the COVID-19 pandemic in early 2020 are projected to hamper the global market over a short period
- Numerous companies in China and other emerging countries are focusing on new applications of attapulgite products
- For instance, Huaiyuan Mining Industry developed a thickening agent for solvent-based and water-borne coatings in the recent past
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Attapulgite Market Variables, Trends & Scope
3.1. Market Outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Manufacturing trends & technology overview
3.3.2. Sales Channel Analysis
3.3.2.1. Vendor selection criteria
3.4. Technology Overview
3.5. Regularity Framework
3.6. Market Dynamics
3.6.1. Market Driver Analysis
3.6.1.1. Increasing global demand for oil & gas products
3.6.2. Market Restraint Analysis
3.6.2.1. Regulations on mining activities
3.6.3. Market challenges
3.6.3.1. COVID-19 analysis
3.7. Business Environment Analysis: Attapulgite market
3.7.1. Industry Analysis - Porter's
3.7.2. PESTEL Analysis
Chapter 4. Attapulgite Market: End-Use Estimates & Trend Analysis
4.1. Definition & Scope
4.2. End-Use Movement Analysis & Market Share, 2019 & 2027
4.3. Market size & forecasts and trend analysis, 2016 to 2027
4.3.1. Oil & gas
4.3.2. Fertilizer & agrochemicals
4.3.3. Chemicals
4.3.4. Pet waste absorbents
4.3.5. Other end-uses
Chapter 5. Attapulgite Market: Regional Estimates & Trend Analysis
5.1. Regional Market Snapshot
5.2. Definition & Scope
Chapter 6. Attapulgite market - Competitive Analysis
6.1. Key global players & recent developments & their impact on the industry
6.2. Vendor Landscape
6.2.1. List of potential end-users
6.3. Company market position analysis
Chapter 7. Company profiles
7.1. Company Overview
7.2. Financial Performance
7.3. Product Benchmarking
7.4. Strategic Initiatives
- BASF SE
- Hudson Resources Limited
- Tolsa
- Active Minerals International LLC
- Geohellas
- Oil-Dri Corporation of America
- MYTA
- Sun Silicates (Pty) Ltd.
- Sepiosla
- G&W Mineral Resources
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