San Francisco, June 09, 2016 (GLOBE NEWSWIRE) -- The global activated bleaching earth market is expected to reach USD 3.59 billion by 2022, according to a new report by Grand View Research, Inc. Increasing production of edible oil in Asia Pacific is expected to remain a key factor driving market growth over the forecast period.
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Demand for activated bleaching earth is projected to arise from Malaysia, Indonesia, China, and India on account of increasing production of vegetable oil in these countries. The growing responsiveness to biofuel which is derived from vegetable oil is also expected to have a positive influence on the market growth. Large amount of oil absorption during the refining of mineral or edible oil is expected to remain a key challenge for market participants.
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Further key findings from the report suggest:
- Global activated bleaching earth market demand was 5.98 million tons in 2014 and is expected to reach 8.65 million tons by 2022, growing at a CAGR of 4.5%from 2015 to 2022
- Edible oil & fats emerged as the leading application segment and accounted for over 80% of total market volume in 2014. Increasing production of edible oil in emerging markets of Asia Pacific, is anticipated to boost this segment over the forecast period. It is also expected to witness the highest growth of 4.7% from 2015 to 2022.
- Asia Pacific was the leading regional market with demand share exceeding 65% in 2014. Increasing production of edible oil in countries such China, Malaysia, Indonesia, and India on account of growing population base in these countries is expected to drive the regional market over the forecast period. Asia Pacific is also expected to witness highest gain in its market size over the forecast period. The region is expected to grow at an estimated CAGR of 5.0% from 2015 to 2022.
- Central & South America is also expected to witness significant growth to reach a market over USD 350 million by 2022. Production of edible oil and fat in Argentina is expected to increase over the forecast period which further is expected to have a positive impact on the regional market.
- Global activated bleaching earth industry is highly fragmented with presence of large number of small players across the globe. Some leading companies operating in the global market include BASF SE, Clariant International AG, Taiko Group of Companies, AMC (UK) Limited, Shenzhen Aoheng Science and Technology Co., Ltd., Ashapura Perfoclay Limited, Korvi Activated Earth, Musim Mas Holdings, and Oil-Dri Corporation of America.
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Grand View Research has segmented the activated bleaching earth market on the basis of application and region:
Global Activated Bleaching Earth Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
- Edible oil & fats
- Mineral oil & lubricants
- Other
Global Activated Bleaching Earth Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
- North America
- U.S
- Canada
- Europe
- Germany
- UK
- Russia
- Ukraine
- Asia Pacific
- India
- China
- Malaysia
- Indonesia
- Central & South America
- Brazil
- Argentina
- Middle East and Africa
- South Africa
- Turkey
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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