Bentonite Market Size, Share, Demand & Trends by 2031
Increasing oil drilling and construction activities across the world is expected to create increasing demand for bentonite between 2021 and 2031, finds Future Market Insights (FMI) in a new study. According to the report, the market is expected to reach US$ 2.37 Bn by the end of 2031. Through the course of the forecast period it is expected to record solid growth, especially since developing economies are expected to offer lucrative growth opportunities.
Bentonite is a highly colloidal clay mineral
containing variety of accessory minerals such as quartz, feldspar, calcite and
gypsum. Properties such as water absorption, swelling, viscosity, hydration and
thixotropy makes bentonite a valuable material across various industries.
Chemical and mechanical properties of bentonite materials can be altered
through various additions and combinations of raw materials, which is based on
application or use of finished product.
Bentonite is known for its versatile nature and
application in numerous industries such as construction, oil & gas, food,
pharmaceutical, foundry and among others. Of these, the oil industry is expected
to remain dominant, accounting for nearly one-fourth of bentonite sold
globally.
Get Your 30% Discount Now! Request for
Sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-348
Key Takeaways
- Driven
by applications across diverse industries, the bentonite market will
exhibit a CAGR of 6.2% between 2021 and 2031
- With
oil and drilling activities pacing up, the U.S. is expected to account for
88% of bentonite sales in North America
- Bentonite
production in France and Poland will pick up at an impressive pace post
lacklustre growth registered in 2020
- Germany
and Russia are expected to emerge as leading markets for bentonite in
Europe
- China
is expected to spearhead growth of bentonite market in East Asia
“Role of bentonites in oil drilling
applications continues to propel the overall market growth. However, due to
stringent regulation imposed by governments on the use of some of the intermediate
chemicals, which are used collectively with bentonite in drilling applications,
the market might witness some hindrances to growth. Nonetheless, key
manufacturers are focusing on enhancing the production rate which will aid the
overall expansion of the market in the coming years.” says
FMI analyst.
Competitive Landscape
The market is moderately fragmented with key players
accounting for small market share. Some of the key players in the market are
Kemira OYJ, Mineral Technologies Inc. Clariant AG, Kunimine
Industries Co., Ltd. Charles B Chrystal Co. Inc, Ashapura Group of Companies,
Halliburton Co, Wyo-Ben, Inc, Polymer Drilling Systems (PDS) Co, Inc, Black
Hills Bentonite, LLC, Alfa Aesar, Kutch Minerals, among others. These key
players are expected to invest in new technology developments and their
networks expansion in order to maintain their market shares.
Bentonite Market by Category
Product Type
- Sodium
- Calcium
- Others
Application
- Drilling
Fluids
- Binder
- Sealant
- Absorbent/Adsrobent
- Clarification
Agent
- Others
End- Use Industry
- Oil
- Foundry
- Construction
- Food
- Pharmaceuticals
- Others
Region
- North
America
- Latin
America
- Europe
- East
Asia
- South
Asia Pacific
- Middle
East & Africa
Browse
Full Report: https://www.futuremarketinsights.com/reports/bentonite-market
Comments
Post a Comment