Press release
Projected CAGR of 6.5%: Bentonite Market Poised to Reach US$ 3.8 Billion Valuation by 2033
Bentonite Market
Bentonite is used in the drilling fluid, binders, absorption/adsorption, clarifying agents, and other industries. As a result, expansion in end-use industries is creating attractive opportunities for bentonite suppliers. In 2023, the global Bentonite market is expected to reach US$ 2.1 billion.
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Because of rising energy demands, the bentonite industry is seeing increased usage in oil and gas drilling activities. Furthermore, numerous applications of bentonite in end-use sectors such as building, Foundry, medicines, and others have caused a surge in demand in recent years and are projected to dominate in the near future.
Infrastructure capitalization is expanding in developing and emerging markets around the world, attracting significant investments in building operations. As a result, raw materials such as building aggregates and bentonite benefit. Because of its swelling properties, bentonite is mostly employed in construction for sealant purposes. Growing construction activity around the world is expected to boost demand for bentonite during the predicted period.
Key Takeaways
The United States is expected to dominate the North American market, accounting for more than 80% of the market through 2033.
Bentonite solution sales in the United Kingdom are predicted to expand at a staggering 5.5% CAGR by 2033.
During the forecast period, demand for Bentonite in China is expected to grow at an outstanding 6% CAGR.
The Drilling Fluids market is estimated to expand at a 6.3% CAGR between 2023 and 2033.
The oil segment is predicted to increase at a CAGR of 6.2%.
"The United States is seeing profitable expansion in the global bentonite market as a result of increased investment by manufacturers aimed at boosting bentonite production capacity. Additionally, expanded oil and gas exploration efforts are likely to lessen reliance on other countries for energy. This is projected to boost bentonite sales in the near future," says an FMI analyst.
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Competitive Landscape
Bentoproduct, a Bosnian organization that produces bentonite-based items, unveiled a takeover strategy to acquire Nemetali, a local mining organization, in January 2023. The securities commission of Bosnia and Herzegovina's Serb Republic authorized the offer.
According to a research report released in April 2023, Phoslock Environmental technologies, a worldwide environmental technology firm that utilizes bentonite to eradicate extra nutrients from water through agricultural run-off, and industrial, and sewage treatment works, aims to increase operations in Casper.
Top Key Players in the Global Market
1. Ashapura Group of Companies
2. Black Hills Bentonite, LLC
3. Charles B Chrystal Co. Inc.
4. Clariant AG
5. Halliburton Co.
6. Kemira OYJ
7. Kunimine Industries Co. Ltd.
8. Kutch Minerals
9. Mineral Technologies Inc.
10. Polymer Drilling Systems (PDS) Co Inc.
11. Wyo-Ben Inc.
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Bentonite Market by Category
Product Type:
Sodium
Calcium
Others
Application:
Drilling Fluids
Binder
Sealant
Absorbent/Adsrobent
Clarification Agent
Others
End Use Industry:
Oil
Foundry
Construction
Food
Pharmaceuticals
Others
Region:
North America
Latin America
Europe
Asia Pacific
Middle East & Africa
Have a Look at Related Research Reports of Chemicals & Materials
Sulphur Bentonite Market: https://www.futuremarketinsights.com/reports/sulphur-bentonite-market
Asia Pacific Bentonite Market: https://www.futuremarketinsights.com/reports/asia-pacific-bentonite-market
Organo-modified Bentonite Market: https://www.futuremarketinsights.com/reports/organo-modified-bentonite-market
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Report: https://www.futuremarketinsights.com/reports/bentonite-market
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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