Acumen Research and Consulting recently published report titled “Bentonite Market, Analysis Report and Region Forecast, 2022 - 2030”
BEIJING, Oct. 20, 2022 (GLOBE NEWSWIRE) -- The Global Bentonite Market Size accounted for USD 1,796 Million in 2021 and is estimated to achieve a market size of USD 3,592 Million by 2030 growing at a CAGR of 8.2% from 2022 to 2030.
Bentonite Market Statistics
- Global bentonite market revenue was worth USD 1,796 million in 2021, with a 8.2% CAGR from 2022 to 2030
- North America region was accounted 34% of bentonite market share in 2021
- Asia-Pacific market is expected to grow at a CAGR of 9% from 2022 to 2030
- Based on product type, sodium capture over 60.2% of the overall market share in 2021
- Increasing use in the construction industry, drives the bentonite market value
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Bentonite Market Report Coverage:
| Market | Bentonite Market | |
| Bentonite Market Size 2021 | USD 1,796 Million | |
| Bentonite Market Forecast 2030 | USD 3,592 Million | |
| Bentonite Market CAGR During 2022 - 2030 | 8.2% | |
| Bentonite Market Analysis Period | 2018 - 2030 | |
| Bentonite Market Base Year | 2021 | |
| Bentonite Market Forecast Data | 2022 - 2030 | |
| Segments Covered | By Product Type, By Application, And By Geography | |
| Bentonite Market Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa | |
| Key Companies Profiled | Minerals Technologies Inc., Imerys S.A., Clariant International Ltd, Ashapura Group, Bentonite Performance Minerals, LLC (BPM), American Colloid Company, Çanbensan Bentonite, and NCC. | |
| Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis | |
Bentonite Market Overview
Bentonite has the ability to be employed as an excellent absorbent in the treatment of wastewater due to its low price and ecologically acceptable qualities. When compared to other minerals researched in connection to the adsorption/desorption processes, bentonite gives more stability after some adjustments. Furthermore, bentonite is an excellent adsorbent for the elimination of a wide range of contaminants from wastewater. As a result of bentonite's considerable physical, chemical, nontoxic, and special adsorption capabilities as well as its high specific surface area & cation exchange capacity, it has become increasingly important for the treatment of wastewater, which has ultimately led to the expansion of the global market.
Bentonite Market Growth Factors
- Increased use of bentonite in agriculture
- Growing in popularity as adsorbents for wastewater treatment.
- Increased use of bentonite in landscaping applications
COVID-19 Impact on the Global Bentonite Market
The COVID-19 epidemic emerged in Wuhan in December 2019, and it has since spread fast throughout the world. In terms of positive situations and reported incidents, China, Iran, Spain, Italy, and the Republic of Korea are some of the worst affected countries. Various countries' economies and sectors have been harmed as a result of stringent lockdowns, travel restrictions, and company shutdowns. Since China is a key manufacturing powerhouse and the world's largest source of raw materials, facility closures, supply chain challenges, and a worldwide economic slump have all impacted bentonite market trend. Furthermore, COVID-19 disease has spread to approximately 180 nations worldwide, prompting the World Health Organization (WHO) to declare a global health emergency. COVID-19's global repercussions are beginning to be felt, and they will have an important influence on the bentonite market over the next few years.
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Bentonite Market Segmentation
The global bentonite market has been segmented by Acumen Research and Consulting based on product type, and application. By product type, the segment is separated into calcium, sodium, and others. According to the bentonite market forecast, the sodium category is predicted to develop significantly in the next years.
In terms of application, the market is categorized into foundry sands, iron ore pelletizing, cat litter, drilling mud, civil engineering, refining, and others.
Bentonite Market Regional Overview
The global bentonite market is separated into several geographic regions: Asia-Pacific, North America, Latin America, Europe, and the Middle East and Africa. According to a bentonite industry analysis, North America has consistently dominated the global market and is predicted to do so again throughout the forecast timeframe. According to the INIS analysis, one of the primary contributing factors to the regional market's growth is the presence of key companies in North America provinces. Through its wholly-owned subsidiary, Colloid Environmental Technologies Company, the American Colloid Company (ACC) is the single largest producer of bentonite and bentonite products in North America (CETCO). In addition, the region has a substantial supply of commercial bentonite compounds. Such elements have a favorable impact on the region's overall growth, which in turn adds to the expansion of the bentonite market.
Asia-Pacific, on the other hand, demonstrates an all-time high growth rate for the bentonite industry over the analyzed period. Japan has strengthened the iron pelletizing industry among Asia-Pacific provinces, which ultimately stimulates the expansion of the Asia-Pacific regional bentonite market. This is owing to the product's related benefits, which include enhanced mechanical and abrasive strength, faster reduction, as well as higher mineralization rates when compared to ore fines, all of which boost sponge iron production while using less energy. Because of the extensive use of technologically enhanced product offerings, along with better supply chain efficiency and demand, the Asia-Pacific bentonite market is mature. Moreover, with this region's rising construction industry, bentonite displays prospective expansion, contributing to total market growth.
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Bentonite Market Players
Some of the prominent bentonite market companies are Minerals Technologies Inc., Clariant International Ltd, Bentonite Performance Minerals, LLC (BPM), Çanbensan Bentonite, Imerys S.A., American Colloid Company, Ashapura Group, and NCC.
Bentonite Market Strategies
Some of the key strategies in market:
- In July 2021, Normerica Inc. ("Normerica"), a pioneer in the distribution of bentonite-based cat litter label pet care products to a large consumer base, has been acquired by Minerals Technologies Inc. The combination of these two enterprises is exceptionally complementary, both geographically and in terms of product portfolio and customer base.
Questions Answered By This Report
- What was the market size of Bentonite Market in 2021?
- What will be the CAGR of Bentonite Market during the forecast period from 2022 to 2030?
- Who are the major players in Global Bentonite Market?
- Which region held the largest share in Bentonite Market in 2021?
- What are the key market drivers of Bentonite Market?
- Who is the largest end user Bentonite Market?
- What will be the Bentonite Market value in 2030?
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