Press release
Bentonite Market Projected to Grow at a Steady Pace During 2021-2027 | Bentonite Mineral Performance LLC, Black Hills Bentonite LLC, Minerals Technologies Inc., Imerys S.A.
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Market Overview
Upsurging demand of steel from end user industries like automobile, construction, transportation, energy, and packaging would result to rise in demand of iron ore pellets which are used in manufacturing of steel. Further, sodium-activated calcium bentonite is used as a binder in iron ore pellets and is known to increase strength of both wet and dry iron ore green pellets. Owning to increased demand of iron ore from steel industry would result to higher demand of bentonite for iron ore pelletizing thereby helping the market grow at a considerable rate.
For instance, global production of crude steel in 2018 was 1,825,486 thousand tons which grew to 1,875,155 thousand tons in 2019. As per, The World Steel Association forecasts that steel (apparent steel) demand will grow by 5.8% in 2021 to reach 1.874 billion metric tons, after declining by just 0.2% in 2020, as the overall impact of the coronavirus pandemic on the sector turned out to be less than previously foreseen.
COVID-19 Impact
During the Covid-19 pandemic in the early 2020, majority of the countries and region witnessed a country wide lockdown. This has impacted the overall demand for oil and gas. According to U.S. Energy Information Administration, globally a decline of almost 9% in the overall demand of oil and gas was witnessed in 2020 for the first time since the global recession of 2009. Majority of decline was witnessed in the industrial sector, where countries had imposed shut down of manufacturing facilities to reduce the spread of Covid-19.
Global bentonite market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Product, the market is primarily categorized into:
• Sodium
• Calcium
• Others
Based on product, the bentonite market is segmented into sodium, calcium, and others. Among these, sodium bentonite is likely to showcase substantial growth during the forecast period. Increasing adoption and ownership of cats in developed nations like U.S. and European countries would increase the demand of sodium bentonite owing to its pet litter applications. For instance, around 42.7 million US households owns Cat as per the 2019-2020 National Pet Owners Survey conducted by the American Pet Products Association.
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By Application, the market is primarily studied into:
• Cat Litter
• Civil Engineering
• Drilling Mud
• Foundry Mud
• Iron Ore Pelletizing
• Refining
• Others
Based on application, the bentonite market is divided into cat litter, civil engineering, drilling mud, foundry sands, iron ore pelletizing, refining, and others. Among them, iron ore pelletizing and drilling mud hold a considerable market share. Bentonite exhibits good strength along with high hot and dry strength which helps in preventing molds from breaking or cracking during the pouring or cooling process in the foundry industry. Owing to high strength resulting from its property to absorb and then release moisture, bentonite is used in iron ore palletization.
Global Bentonite Market Region Segmentation Includes:
• North America
• Europe
• Asia Pacific
• MEA
• South America
Based on the estimation, North America accounted for considerable market position in the market in 2020 and is expected to demonstrate significant growth during the forecast period (2021-2027). Large and increasing oil & gas activities resulted in the increasing demand of bentonite in the region.
The major players operating in the market includes:
• Bentonite Mineral Performance LLC
• Black Hills Bentonite LLC
• Minerals Technologies Inc.
• Imerys S.A.
• Wyo-Ben Inc.
• Tolsa S.A.
• Laviosa Mineral Solutions SpA
• G & W Mineral Resources
• Ningcheng Tianyu Chemical Co. Ltd.
• Kunimine Industries Co. Ltd.
Competitive Landscape
The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating in the Global context. The specialist team of research analysts sheds light on various traits such as Global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Global Bentonite Market. The major players have been analyzed using different research methodologies for getting insight views on market competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the global bentonite market?
• Which factors are influencing the global bentonite market over the forecast period?
• What are the global challenges, threats, and risks in the global bentonite market?
• Which factors are propelling and restraining the global bentonite market?
• What are the demanding global regions of the bentonite market?
• What will be the market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by the companies?
We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature. Please let us know If you have any custom needs.
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About UnivDatos Market Insights
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
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Bentonite Market
Summary
The Bentonite Market is expanding at a significant rate owing to the growing requirements for Bentonite and surge in demand. The report contains a detailed market and vendor landscape, as well as a SWOT analysis of the key vendors operating in this market.
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