The Major Segments in the Global Bentonite Market
The worldwide bentonite market is expected to increase at an 11.1% CAGR from $7.45 billion in 2022 to $8.27 billion in 2023. At least temporarily, the Russia-Ukraine conflict hampered the speed of the world’s post-pandemic economic recovery.
Economic sanctions on a number of nations, a rise in the cost of commodities, and insufficiencies in the supply chain as a result of the conflict between the two nations have caused inflation in many different markets throughout the world and affected the prices of goods and services.
However, the expansion of the global bentonite market is the result of higher sales in fast-growing nations like China and India, thanks to improving disposable income and higher credit demand and affordability.
When income taxes have been subtracted, a person’s or a family’s disposable income is the remaining sum of money that can be used for spending or saving.
For example, the Disposable Personal Income in China climbed to 47412 CNY in 2021 from 43834 CNY in 2020, in accordance with statistics from the Bureau of Statistics of China, a China-based government organization. As a result, the rise of the Bentonite market is being driven by the increase in disposable income.
Bentonite is widely utilized in the chemical, rubber, insecticide, and pesticide sectors as well as in engineering operations. To put it more specifically, the usage of bentonite in the pharmaceutical industry is driven by the fact that high-purity bentonite fulfills the criteria of the National Formula and is frequently utilized in cosmetic products as pigment binders and suspending agents.
Likewise, one of the most significant trends observed in the worldwide bentonite clay market is the use of complex geosynthetic clay liners by companies in the bentonite sector to avoid leaks and erosion in the mining process.
The expansion of sodium bentonite is greater than that of calcium bentonite. Growing expansion of infrastructure and increased demand for steel and iron ore throughout multiple sectors are some of the key drivers that are projected to boost the requirement for sodium bentonite in the foundry and building sector.
Therefore, it is projected that the industry will be significantly impacted by the foundry and metal casting industries’ explosive expansion. Global demand for applications involving foundries and metal casting is anticipated to increase as a result of the rapidly expanding auto and manufacturing sectors.
Increasing demand for natural gas and crude oil is anticipated to cause the bentonite industry to grow more quickly. So bentonite is widely used in these applications, which has contributed to the market’s total growth.
To the point that it is anticipated that the worldwide bentonite market size would have increased by 7.4% from 2022 to 2030, totaling USD 3414.63 million.
A rise in sustainable agriculture and a surge in the use of water-treatment plants throughout the world are also expected to raise the value of the bentonite market over the projected period.
The global Bentonite market is divided into four segments type, application, region (country), and company. Keep scrolling to dig further into the bentonite market driving forces categorized on the basis of these segments.
Bentonite market’s type segment
The sodium, calcium, sulfur, and other categories of bentonite products make up one of the major segments in the global bentonite market analysis, known as type.
With a market share of 31.6% and 567.53 million dollars in revenue in 2021, the Sodium sector had the biggest market share. It is projected that the Sodium segment will continue to hold the top spot during the period of forecasting.
Municipal waste disposal facilities, livestock and leisure ponds, and drainage landfills are all covered with sodium bentonite.
Moreover, Sodium bentonite is one of the most cost-effective and effective techniques to treat permeable soils. Since sodium bentonite possesses a significant capacity for swelling, it is utilized as a binder in foundry sands. Given that bentonite with more swelling properties has greater adhesion in the water condensation zone.
The workshops and manufacturers who develop different parts of the steel, building, and automobile industries have seen an increase in demand for foundry sand. This expands the market for producers of sodium bentonite significantly.
Bentonite market’s application segment
The Foundry Sands, Cat Litter, Pelletizing Iron Ore, Refining, Drilling Muds, Civil Engineering, and other applications in the Bentonite market all represent one of the other major segments in the global bentonite market report.
With a market share of 22.3% and 400.50 million dollars in revenue in 2021, the Foundry Sands category had the biggest market share.
The Foundry Sands category is predicted to maintain its dominance during the forecast period, growing at the quickest CAGR. This is due to the fact that foundry bentonite is largely utilized as a bonding agent in the process of making molding sand employed in the manufacture of iron, steel, and nonferrous casting.
In light of the unique properties of foundry sand bentonite, it produces green sand molds for the production of excellent quality castings that have great flow ability, compact ability, as well as thermal resistance. Such factors fuel segmental growth, which in turn fuels market growth overall.
Bentonite market regional segment
The five primary regions of North America, Europe, Asia-Pacific, South America, the Middle East, and Africa constitute one of the major segments of the global bentonite market data.
Asia-Pacific, which dominated the global bentonite market in 2022, is anticipated to expand at a CAGR of 4.15% from 2022 to 2030. It is therefore expected to experience the fastest growth over the projected period of 2022–2030.
With a market share of roughly 32.9% and 590.88 million in the market’s revenue of 2021, Asia-Pacific also ranked as the top region in the 2021 global bentonite market as well. The growing market popularity of bentonite is what is driving the demand for it.
This is owing to the area’s growing focus on personal grooming and beauty products, along with the rising demand for bentonite clay from the building and agricultural sectors in developing countries like China and India.
The growing demand for agricultural products in India may lead to a growth in the usage of sulfur bentonite to enhance the production of a variety of crops, notably pulses, cereals, fruits, and plants. It also helps to improve the flavor and fragrance of a variety of other crops, such as grapes, oranges, onions, ginger, and garlic. The use of sulfate-based bentonite fertilizers is being encouraged by government incentives as well.
In addition, the Asia-Pacific region’s Bentonite market was led by China, which had the greatest market share, and India, which had the fastest rate of growth.
For example, because of the infrastructure initiatives, bentonite companies prefer to sell their products in the Indian Bentonite market, not to mention that Japan is renowned for its civil engineering sector.
As a result, the Asia Pacific area dominated the market for bentonite, which can be primarily attributed to the continent’s developing construction, automobile, and agricultural sectors. This is the result of growing development, population increase, higher living standards, and the rise of the iron pelletizing sector.
Furthermore, between 2021 and 2030, the North American market is anticipated to increase at the fastest CAGR. Because of extensive drilling operations in the United States, there is likely a substantial demand for bentonite as a raw material for drilling fluids, which can lead to the growth of its market. Likewise, growth in oil and gas exploration as a result of increased global power consumption has stimulated the drilling industry.
Last but not least, the second-largest market share belongs to Europe’s Bentonite market as a result of the rising demand for bentonite across numerous applications, such as the medical and foundry sand industries. In addition, the UK market for bentonite was the one in Europe with the quickest rate of growth, while the German market for bentonite had the biggest market share.
Major companies in the Bentonite market
In the last segment of the bentonite market, major companies such as Wyo-Ben Inc., Huawei Bentonite, Amcol, Ashapura, and Cimbar play a crucial role in the industry.
The main eight producers of bentonite, with around 56% of the market, are Amcol (US), Bentonite Performance Minerals LLC (US), Wyo-Ben Inc (US), Black Hills Bentonite (US), Tolsa Group (Spain), Imerys (SandB) (France), Clariant (Switzerland), as well as Bentonite Company LLC (Russia).
Consider Wyo-Ben, a business that engages in the processing and production of products built around bentonite clay. The company’s main goal is to offer the best mineral-based solutions. It strives to offer its clients the best possible quality of customer service.
Or take into account IMERYS, which provides mineral-based specialized solutions for sectors employing the latest technology. For a variety of purposes, including thermal resistance, covering, electrical conductivity, mechanical durability, and barrier effect, the company transforms minerals. The business manufactures bentonite for drilling fluids to reduce fluid loss and increase viscosity.
These significant market players are investing a lot of funds to promote their range of products, which will fuel further market expansion for bentonite. Market players are also launching new products, signing new contracts, joining other companies, increasing investments, and collaborating with other organizations as part of a variety of strategic activities to expand their reach throughout the world.
After all, in order to grow and remain in a market that is becoming more and more competitive, companies in the bentonite sector must provide cost-effective and high-quality products.
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