The global market for bentonite is characterized
by a moderate level of consolidation and is expected to experience a
healthy competition over the next few years, states a new research
report by Transparency Market Research. In 2015, the leading players
operating in the global bentonite market, namely Imerys SA, Minerals
Technologies Inc., Clariant AG, and Ashapura Group held a share of
more than 75% of the global market. With the growing need to maintain
a dominant position in the market, these players are emphasizing on
the expansion of the production capacities so as to cater the
increasing demand across the globe. In addition to this, the rising
number of strategic collaborations and the enhancement of the
application base are predicted to encourage the growth of the overall
market in the near future.
According to the research study by Transparency
Market Research, in 2015, the global bentonite market was worth
US$1.42 bn and is expected to reach a value of US$1.85 bn by the end
of 2024. The market is projected to exhibit a 3.0% CAGR between 2016
and 2024.
This 123 page report gives readers a
comprehensive overview of the Bentonite market. Browse through 28
data tables and 39 figures to unlock the hidden opportunities in this
market@
Developing Construction Industry to Propel Asia
Pacific Bentonite Market
In the last few years, Asia Pacific led the global
bentonite market and is likely to remain in the dominant position
throughout the forecast period. The development of the construction
industry is one of the essential factors estimated to encourage the
growth of the Asia Pacific market in the near future. Furthermore,
the increasing demand for bentonite from the metal industry is
expected to accelerate the growth of this region in the coming years.
A significant contribution from China is estimated to supplement the
growth of the Asia Pacific market in the forecast period.
Furthermore, North America and Europe are estimated to experience a
moderate level of growth over the next few years.
On the basis of product type, the global bentonite
market has been classified into calcium bentonite and sodium
bentonite. Among these, the sodium bentonite segment held a large
share of the global market in the last few years and this segment is
projected to maintain its position in the near future. The high
growth of this segment can be attributed to the rising preference of
consumers for green sand casting procedure in the foundry. The
calcium bentonite segment is estimated to witness a substantial
growth over the forecast period.
Increasing Use of Bentonite in Automotive
Sector to Encourage Growth
The rapid development of the construction
industry, particularly in developing economies is one of the
important factors expected to fuel the development of the global
bentonite market over the next few years. In addition, the rising
demand for bentonite for the procedure of iron casting from the heavy
equipment manufacturing and automotive industries are estimated to
accelerate the growth of the overall market throughout the forecast
period.
On the other hand, the global bentonite market is
projected to witness several growth barriers and limitations, owing
to which the market is likely to experience a downward trend in the
near future. A significant reduction in the demand for IOP grade
bentonite, especially in China is projected to curb the growth of the
market in the near future. Moreover, the sluggish growth of the oil
and gas sector across the globe is likely to restrict the development
of the bentonite market in the coming years. Nonetheless, the high
growth of the cosmetics and personal care industries worldwide are
considered to generate lucrative opportunities for the bentonite
manufacturers in the next few years.
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This information is based on the findings of a
research report published by Transparency Market Research (TMR),
titled “Bentonite Market (Product - Sodium Bentonite and Calcium
Bentonite; Application - Drilling Mud, Iron Ore Pelletizing, Foundry
Sands, Pet Products, Construction, Paper, Cosmetics, and
Pharmaceuticals) - Global Industry Analysis, Size, Share, Growth,
Trends, and Forecast 2016 - 2024.”
The global bentonite market has been segmented
as below:
Global Bentonite Market, by Product Type
- Sodium Bentonite
- Calcium Bentonite
- Others
Global Bentonite Market, by Application
- Drilling Mud
- Iron Ore Pelletizing
- Foundry Sands
- Pet Products
- Constriction
- Others (paper, cosmetics, pharmaceuticals etc.)
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