Newark, June 13, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global bleaching clay market is expected to grow from USD 1.6 billion in 2021 to USD 2.6 billion by 2030, at a CAGR of 5.8% during the forecast period 2022-2030.
Bleaching clays are widely used for refining vegetable oils, margarine, and hydrogenated oils, among others. They are also used while refining fats like fish oil, tallow oil, and lard oil. Bleaching clay is widely used in the food industry and in refining vegetable oils. New York, California, and Texas in the United States hold more than 38,000 food and beverage processing plants that widely use bleaching clays to refine them and remove impurities from the vegetable oils. Food and beverage is the largest manufacturing sector which holds the most considerable turnover with around 3lac companies operating in the market in Europe region. Most of the food and beverage companies operating across the globe use bleaching clay to refine and remove the color pigments from the food and beverages.
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Competitive Strategy
To enhance their market position in the global bleaching clay market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
● In July 2021, the Oil-Dri Corporation of America announced the hike in prices of its product line, including agricultural clay, bleaching clay, and fluid purification products.
Market Growth & Trends
The increasing consumption of vegetable oil is driving the growth of the market. The growing penetration of processed food in regular use is propelling the use of vegetable oils. Therefore, the ever-increasing demand for vegetable oils from food and beverage is expected to boost the bleaching clay market during the forecast period. However, the outbreak of the Covid-19 pandemic hampered the market's growth as several manufacturing units were temporarily closed to stop the spread of the disease. The increasing use of bleaching clay in the cosmetic industry is expected to provide an opportunity for market growth during the forecast period. The growing use of bleaching clay to remove the color from foods and beverages adds impetus to the market's growth. In addition, the increasing use of personal care products is also expected to propel the market's growth.
Key Findings
● In 2021, the natural segment dominated the market with the largest market share of 63% and market revenue of 1.0 billion.
The product type segment is divided into activated and natural. In 2021, the natural segment dominated the market with a market share of around 63% and market revenue of 1.0 billion. The increasing demand for natural bleaching clay across several industries such as mineral oils & lubricants, varnishes & soaps, biofuel, paints, and wastewater treatment industries propels the segment's growth.
● In 2021, the refining of vegetable oils and fats segment accounted for the largest share of the market, with 69% and market revenue of 1.1 billion.
The application segment is divided into refining of vegetable oils and fats and refining of mineral oils & lubricants. In 2021, the refining of vegetable oils and fats segment accounted for the largest share of the market, with 69% and market revenue of 1.1 billion. Most vegetable oils are refined using bleaching clay as they contain several impurities and contaminants that need to be removed. The rising consumption of vegetable oils is driving the growth of the segment.
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Regional Segment Analysis of the Bleaching Clay Market
● North America (U.S., Canada, Mexico)
● Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
● Asia-Pacific (China, Japan, India, Rest of APAC)
● South America (Brazil and the Rest of South America)
● The Middle East and Africa (UAE, South Africa, Rest of MEA)
The Asia Pacific region emerged as the largest market for the global bleaching clay market, with a market share of around 41.3% and 0.66 billion of the market revenue in 2021. The increase in vegetable oil consumption in this region and prominent market players drive the market's growth. Asia Pacific region is also the largest consumer of bleaching clay which propels the market's growth in the region. Due to the emerging economies in the region, such as India, and the increasing population, the demand for the food and beverages industry is growing, driving the market growth for bleaching clay.
Key players operating in the global bleaching clay market are:
● Taiko Group of Companies
● Clariant International AG
● Oil-Dri Corporation of America
● BASF SE
● Musim Mas Holdings, W Clay Industries
● Ashapura Group of Companies
● AMC (UK) Ltd.
● Refoil Earth Pvt. Ltd.
● HRP Industries
● AMCOL Specialty Minerals
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Brainy Insights has segmented the global bleaching clay market based on the below-mentioned segments:
Global Bleaching Clay Market by Product Type:
● Activated
● Natural
Global Bleaching Clay Market by Application:
● Refining Of Vegetable Oils and Fats
● Refining Of Mineral Oils & Lubricants
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About the report:
The global bleaching clay market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
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