Bentonite Market Insights:
The global bentonite market size accounted for 1.35 billion in 2016. It is further anticipated to witness a CAGR of more than 5% over the forecast period due to its increased use in oil well cement and drilling fluid applications. Bentonite clay is mainly used to oil the cutting head, remove drill cuttings and to cover borehole walls.
The rapid growth in the foundry and metal casting industries is anticipated to have a significant impact on the global market. The rapidly growing automobile and equipment manufacturing industries is expected to boost the demand for foundry and metal casting applications across the globe. The extensive usage of bentonite in these applications has resulted in the overall growth of the market.
Increased use of products in various applications such as groundwater barriers, liquor clarifiers, absorbents for pet litter and oil & grease, and binders in iron & steel manufacturing is likely to bode well for industry growth over the forecast period.
Bentonite Market - Product Insights:
Based on products, the market is segmented into sodium bentonite, calcium bentonite, and others such as aluminium and potassium. Calcium and sodium bentonite are mainly used in drilling mud. The global sodium bentonite segment registered over 55% of the total revenue in 2016.
Growing use of the product as an adsorbent of ions in oils, fats & other chemical solutions is likely to stimulate the industry growth over the forecast period.
Bentonite Market - Application Insights:
On the basis of application, the industry is divided into Drilling Mud, Iron Ore Pelletizing, Foundry Sands, Pet Products, Construction, Paper, Cosmetics, and Pharmaceuticals. Foundry sands segment accounted for over 40% of global volume in 2016.
The demand for bentonite in foundry molds is very high due to its wide application in metal casting of brake drums, brass water fittings, manhole covers, engine blocks, transmission housing and cast iron pans. These products are also helpful in maintaining the mechanical shape of a mold by making the surface impermeable.
As compared to plastic clay, bentonite absorbs higher amounts of water, thus contributing in the grouting of wells, dams, and drilling muds.
Bentonite Market - Regional Insights:
U.S. accounted for more than 75 % of the total revenue in 2016 due to its large scale exploration and drilling activities. North America is anticipated to lose share to Latin America and Asia Pacific over the forecast period due to stringent government regulations.
Asia Pacific market is anticipated to grow significantly over the forecast period. The rapid increase in demand for bentonite is attributed to the growing number of construction industries in this region. The rise in the number of metal industries is further likely to aid the demand for bentonite in this region. China is expected to remain one of the major consumers of bentonite in Asia Pacific over the forecast period.
Bentonite Market - End-Use Landscape:
The end-use landscape includes a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase products from global bentonite market. The major consumers of the product are Kiewit, Bouygues Construction, and Skanska.
Bentonite Market - Competitive Scenario:
Key players operating in the global bentonite market include IMERYS SA, Clariant International Ltd., Ashapura Group, Minerals Technologies Inc., American Colloid Co., Canbensan, Dantonit A/S, and Bentonite Performance Minerals LLC.
In April 2015, Wyo-Ben Inc. acquired Sharewell HDD Drilling Products Thunderstorm’s line of cleaning and mud mixing system in Texas to cater to the expanding demand of consumers.
In July 2014, Cimbar Performance Materials Inc. extended the organization to become one of the major barium suppliers in the North America.
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