The increase in foundry and metal casting application in conjunction with the growing automotive and oil & gas industry is expected to drive growth in the market.
Market Size – USD 1.32 Billion in 2018, Market Growth - CAGR of 6.1%, Market Trends –Increasing demand for bentonite from the oil & gas industry as an additive for drilling mud
NEW YORK, April 08, 2019 (GLOBE NEWSWIRE) -- The Bentonite Market is forecasted to grow from USD 1.32 Billion in 2018 to USD 2.16 Billion by 2026, at a CAGR of 6.1%, during the forecast period. The market is primarily driven by the increasing demand for bentonite from the oil and gas industry as an additive for drilling mud.
Increase in oil and gas drilling activities in combination with increasing application in geosynthetic clay liners and the medical industry are expected to drive the market during the forecast period.
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Increasing infrastructural growth in China, India, Japan and Malaysia is predicted to boost the construction industry as a result of increased public spending and thus accelerate the size of the market.
The increase in environmental concerns about wastewater treatment due to high toxic and radioactive chemicals is expected to promote growth for bentonite. Wastewaters generally have a high demand for chemical oxygen, which causes risk of mortality for aquatic animals and imparts unwanted odor and dirt.
The market for bentonite may be restricted by the inability to prevent the formation of mud cake and swelling in oil wells that hinder the rate of production.
Further key findings from the report suggest
- The Bentonite Market is forecasted to grow from USD 1.32 Billion in 2018 to USD 2.16 Billion by 2026, at a CAGR of 6.1%, during the forecast period. A rapidly rising population and higher urbanization have boosted global demand for processed food products, driving food demand.
- The market for sodium bentonite is expected to grow the largest at USD 1.40 Billion in 2026, at a CAGR of 7.4% during the forecast period. Bentonites of sodium and calcium are primarily used in mud drilling and have high plasticity. In 2018, North America was the largest consumer of bentonite in terms of regional demand, with the U.S. having the largest share owing to the country's large-scale drilling and exploration activities.
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- The market for foundry sands is estimated to reach USD 561.9 Million in 2026, at a CAGR of 6.6% during the forecast period. The demand for bentonite in foundry molds for metal casting of brake drums, engine blocks, manhole fittings, brass water fittings, transmission housings and cast iron panels is increasing.
- The market for Asia Pacific (APAC) is expected to reach USD 648.4 Million in 2026, at a CAGR of 9.3% during the forecast period due to the favorable polices and beneficial initiatives by the governments of India, China and Japan. It is estimated that the region is experiencing high demand for bentonite from the oil & gas, metallurgy and construction industries. It is likely that the majority of future demand will come from India, China, Greece, Turkey and Australia.
- The major players in the market are AMCOL International (US), Wyo-Ben Inc (US), MidPoint Chemicals Company (US), M-I SWACO (US), Volclay International (US), Kemira (Finland), Alfa Aesar (US), Charles B. Chrystal Co. Inc. (US), Cimbar (US), and Amsyn Inc (US).
Segments covered in the report:
This report forecasts volume and revenue growth at a global, regional & country level, and provides an analysis on the industry trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented the market on the basis of type, application, end-user and regional analysis.
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Type (Kilo Tons) (Revenue, USD Million; 2016-2026)
- Sodium Bentonite
- Carbon Bentonite
- Others
Applications (Kilo Tons) (Revenue, USD Million; 2016-2026)
- Foundry Sands
- Iron Ore Pelletizing
- Pet Litter
- Drilling Mud
- Civil Engineering
- Refining
- Others
End Use (Kilo Tons) (Revenue, USD Million; 2016-2026)
- Iron & Steel
- Oil & Gas
- Automotive
- Construction
- Agriculture
- Pharmaceuticals
- Others
Region (Kilo Tons) (Revenue, USD Million; 2016-2026)
- North America
○ US
○ Canada - Europe
○ Germany
○ France
○ UK
○ Italy
○ Spain
○ Rest of the Europe - Asia Pacific
○ China
○ India
○ Japan
○ Rest of Asia Pacific - Latin America
○ Brazil
○ Rest of LATAM - Middle East & Africa
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