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CHEMICALS AND ADVANCED MATERIALS

Bentonite Market Segmentation by Product (Sodium, Calcium, and Sulphur); and by Application (Foundry Sands, Iron Ore Pelletizing, Civil Engineering, Refining, Pet Litter, and Drilling Mud) – Global Demand Analysis & Opportunity Outlook 2030

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Extensive insights into the Growth of Bentonite Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

  • October 2020 - Mineral Technologies Inc. announced the acquisition of the company Tri-State Construction, which specializes in building both commercial and residential properties. The aim of this deal is to help MTI strengthen its leadership in bentonite-based products.

Global Bentonite Market Highlights 2022 – 2030

The global bentonite market is estimated to garner a large amount of revenue and grow at a CAGR of ~4% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the growing use of bentonite in oil well cement and drilling fluid applications, and increasing construction and infrastructural activities around the world. For instance, in the United States alone, 1.2 million new housing units are planned every year. Also, commercial construction grew by almost 8 percent between 2014-2019. Apart from these, rising awareness associated with wastewater treatment, and escalating applications of metal casting and foundry in the automotive industry, are expected to raise the demand for the product in the upcoming years. Furthermore, rise in popularity among end user industries, namely, food and beverages, cosmetics and pharmaceuticals, is also projected to drive market growth in the near future. In addition, heightened use of iron pellets in steel manufacturing is assessed to offer profitable opportunities to the market by the end of 2030.

Bentonite Market

The market is segmented by application into foundry sands, iron ore pelletizing, civil engineering, refining, pet litter, and drilling mud, out of which, the foundry sands segment is anticipated to hold the largest share in the global bentonite market. This can be accounted to the growing demand for foundry molds to cast engine blocks, manhole covers, brass water fittings and cast-iron pans, and the ability of the product to maintain mechanical shape of the mold. Moreover, on the basis of product, the sodium segment is evaluated to acquire the largest share during the forecast period owing to the chemical-proof sealing capability of sodium making it easy to install and highly cost-effective. CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Refinery Catalyst

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.

Global Bentonite Market Regional Synopsis

On the basis of geographical analysis, the global bentonite market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the rising demand for bentonite from metallurgy, construction, and oil and gas industries. In addition, rapidly increasing population, escalating urbanization and improvements in standard of living are also projected to drive the region’s market growth in the coming years. Additionally, the market in North America is anticipated to grab the largest share during the forecast period ascribing to the largescale oil drilling and exploration activities, and rise in energy consumption in the region. According to the U.S. Energy Information Administration, 92.94 quadrillion Btu units of energy was consumed in the country in the year 2020, where petroleum held the largest share of 35 percent in terms of fuel used.

The global bentonite market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global bentonite market includes the following segments:

By Product

  • Sodium
  • Calcium
  • Sulphur

By Application

  • Foundry Sands
  • Iron Ore Pelletizing
  • Civil Engineering
  • Refining
  • Pet Litter
  • Drilling Mud

Growth Drivers

  • Growing Use of Bentonite in Oil Well Cement and Drilling Fluid Applications
  • Increasing Construction and Infrastructural Activities

Challenges

  • Harmful Impact of Bentonite on the Environment

Top Featured Companies Dominating the Market

  • MidPoint Chemicals Company
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Amcol Australia Pty Ltd
  • Volclay International
  • Charles B. Chrystal Co. Inc.
  • Amsyn Inc
  • Wyo-Ben Inc
  • Minerals Technologies Inc.
  • Kemira Oyj
  • Schlumberger Limited
  • Cimbar Performance Minerals

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