Press release
Bentonite Market 2024 - Industry Size, Future Insights, Growth Drivers, and Top Players
Bentonite Market
The Business Research Company offers in-depth market insights through Bentonite Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The bentonite market size has grown rapidly in recent years. It will grow from $8.7 billion in 2023 to $9.92 billion in 2024 at a compound annual growth rate (CAGR) of 14.1%. The growth in the historic period can be attributed to foundry and metal casting industry growth, civil engineering and construction applications, oil and gas well drilling expansion, agricultural and environmental applications, paper and pulp industry utilization, widespread adoption in drilling fluids .
The bentonite market size is expected to see rapidly grown in the next few years. It will grow to $15.75 billion in 2028 at a compound annual growth rate (CAGR) of 12.2%. The growth in the forecast period can be attributed to infrastructure development in emerging markets, increasing use in the foundry industry, rise in demand for pelletized fertilizers, advancements in geosynthetic clay liners, growing use in water treatment applications. Major trends in the forecast period include innovations in drilling fluid formulations, focus on sustainable bentonite mining practices, rise in bentonite-based nanocomposites, increased application in the energy storage industry, digitalization of supply chain and logistics.
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Market Segmentation:
The bentonite market covered in this report is segmented -
1) By Type: Sodium, Calcium, and Other Types - Bentonite
2) By Mining Type: Underground Mining, Surface Mining
Major Driver - Rising Disposable Income In Rapidly Developing Countries Fueling Bentonite Market Growth
The growth in the bentonite market is due to an increase in sales in rapidly developing countries such as China and India owing to rising disposable income, and increasing demand for, and availability of credit. Disposable income refers to the amount of money that an individual or household has to spend or save after income taxes have been deducted. Bentonite is used in chemical, rubber, insecticide & pesticide industries and in civil construction works. For instance, in 2021, according to the Bureau of Statistics of China, a China-based Government agency data, Disposable Personal Income in China increased to 47412 CNY 2021 from 43834 CNY in 2020. Therefore, the rising disposable income is driving the growth of the Bentonite market.
Competitive Landscape:
Major companies operating in the bentonite market report are Wyo-Ben Inc., Huawei Bentonite, American Colloid Company, Ashapura Group of Companies, Cimbar Performance Minerals, Minerals Technologies Inc., Imerys S.A., Clariant International Ltd., Bentonite Performance Minerals LLC, Çanbensan Bentonite, NCC AB, Black Hills Bentonite, Kemira OYJ, Charles B Chrystal Co. Inc., Alfa Aesar, Kutch Minerals, Kunimine Industries Co. Ltd., MidPoint Chemicals Company, Volclay International, Amsyn Inc., Atharv Chemicals and Fertilizers Pvt Ltd, Triveni Chemicals, Kalpana Chemicals, Neelkanth Finechem LLP, Vitrag Chemicals Pvt Ltd, Fenghong New Material Co. Ltd., Taiko Group
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Top Trend - Innovative Geosynthetic Clay Liners Transforming Bentonite Market
Companies engaged in the bentonite industry are using advanced geosynthetic clay liners to prevent leakage and corrosion in mining operations, which is one of the major trends witnessed in the global bentonite market.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Bentonite Market Characteristics
3. Bentonite Market Trends And Strategies
4. Bentonite Market - Macro Economic Scenario
5. Bentonite Market Size And Growth
…..
27. Bentonite Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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