Bentonite Market Forecast and Opportunity Assessment till 2028
Stratview Research has published a new report titled “Bentonite Market” which is segmented by Product Type (Sodium, Calcium, Sulphur, and Others), by Application Type (Foundry Sands, Cat Litter, Iron Ore Pelletizing, Refining, Drilling Muds, Civil Engineering, and Others) and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
As per the study, the market was estimated to grow from USD 1.62 Billion in 2021 to USD 2.81 Billion by 2028 at a CAGR of 8.1% during the forecast period 2022-2028.
Bentonite is a colloidal clay mineral, formed from weathering volcanic ash often in the presence of water. It is a naturally occurring clay, prominently consisting of montmorillonite, having high water absorption capacity, which results in its expanding and swelling.
The swelling action of absorption of bentonite is contingent on its ion exchange capacity. The Bentonite market is segmented by product type into sodium, calcium, sulphur, and others and by application type into foundry sands, cat litter, iron ore pelletizing, refining, drilling muds, civil engineering, and others.
Report Highlights
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the market dynamics of the industry. It thoroughly analyzes the market segments, including products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis -
By Product Type
The market is segmented as sodium bentonite, calcium bentonite, sulphur bentonite, and others. Sodium bentonite is likely to dominate the market owing to higher water absorption than calcium bentonite, it can be used as binders, liner materials, and water proofing materials.
By Application Type
The market is segmented as foundry sands, cat litter, iron ore pelletizing, refining, drilling muds, civil engineering, and others. Foundry sands application dominated the market in 2020 and is expected to remain the major application type during the forecast period.
Which Region is expected to remain the largest market?
North America is estimated to be the largest market driven by large-scale drilling and exploration activities in the USA. Asia-Pacific is expected to witness the highest growth during the forecast period driven by emerging economies such as China, India, ASEAN countries, and others.
Who are the Key Players in the Market?
This report provides market intelligence most comprehensively. It also provides critical insights into the key players active in the market, which will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key players acting in the Bentonite Market:
- Mineral Technologies
- Delmon Group of Companies
- CETCO
- Black Hills Bentonite
- Halliburton.
Key questions answered by the report.
- What is the projected CAGR for the Bentonite Market revenue during the forecast period?
- What would the market be valued at by 2028?
- What is a major driving factor for the growth of the market?
- Which region accounted for the largest revenue share in the Bentonite Market?
- Which are the major market players?
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