Bentonite Market Projected to Rise at a 6.2% CAGR, Reaching USD 2,827.4 Million by 2034 | Future Market Insights, Inc.
In Spain, the construction industry’s rising demand for versatile clay, particularly for tunneling and sealing applications, is driving significant growth. This clay’s ability to absorb and swell up to six times its original volume makes it highly sought after by construction companies. As a result, the Bentonite market for this material in Spain is expected to grow at a robust CAGR of 8.5% from 2024 to 2034.
NEWARK, Del, Aug. 12, 2024 (GLOBE NEWSWIRE) — The global bentonite market is anticipated to witness significant growth in the coming years, with its market size projected to reach approximately USD 1,549.3 million by 2024. This growth is expected to continue at a robust CAGR of 6.2% from 2024 to 2034, driven by rising demand across various industries such as oil and gas, construction, and environmental protection.
This growth is projected to continue over the assessment years, starting from 2024 to 2034, due to the increasing use of bentonite in diverse industries across the globe. Bentonite finds application in the drilling fluid, binders, absorption/adsorption, clarification agent, and other sectors. As such growth in end-use industries is creating lucrative prospects for suppliers of bentonite
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. Because of rising energy demands, the bentonite industry is seeing increased usage in oil and gas drilling activities.
The increasing use of bentonite in drilling activities, coupled with its expanding application in the construction sector for soil stabilization and waterproofing, is likely to fuel market expansion. Additionally, the growing awareness of environmental sustainability and the need for effective waste management solutions are expected to further boost the demand for bentonite in the coming decade.
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Key Takeaways
- China holds the largest natural clay reserves globally, driving its dominance in the bentonite industry. During the forecast period, demand for bentonite in China is expected to grow at an outstanding 7.8% CAGR.
- Spain is emerging as a major market due to the increasing use of natural clay in construction, particularly for tunneling, sealing, and waterproofing.
- Mexico’s abundant natural clay reserves, combined with a growing oil and gas industry, are driving demand for the product in drilling fluids.
- Sodium-based clay dominates the market due to its superior waterproofing properties and wide range of applications, including drilling, construction, and pharmaceuticals.
- The pharmaceutical industry is a major consumer of natural clay, driven by its use as an excipient in tablet formation and its role in topical preparations.
“China’s leading position in the market highlights the strategic importance of regions with abundant reserves. The country’s ability to leverage its natural resources for industrial applications positions it as a key player in the global bentonite landscape. Additionally, the growing emphasis on eco-friendly products will likely propel the demand for bentonite, given its non-toxic and biodegradable nature.” Says Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
How are Diverse Applications Driving Bentonite Market Sales?
Bentonite is used in various applications, such as drilling fluid, binder, adsorbent/absorbent, clarification agent, and others. The demand for bentonite is increasing due to growing end-use industries such as oil, construction, food, pharmaceutical, and others.
Increasing demand for the bentonite applications such as sealants, clarification agents, and adsorbents/absorbents in the end-use industries like construction, food, and pharmaceutical industry will be key driving factors for the bentonite market.
Why is R&D Key to Market Consolidation?
Across the globe, key manufacturers are planning to increase their market share by introducing innovative applications in the bentonite product portfolio. Meanwhile, key players and academic institutions are collectively working on innovating new applications through research and development.
Some of the key players are investing around 3-5% of their revenue in R&D to innovate the new application range for end-use industries. Moreover, various manufacturers are entering the market by acquiring local existing players and globalizing its portfolio.
What is the Regulatory Impact on the Bentonite Market?
Governments and regulatory authorities across the world have imposed restrictions on the trans-continental trading of bentonite in some of the bentonite producing regions sowing to the depletion of bentonite reserves.
However, end-use industries in these regions are focusing on alternatives or substituting for bentonite. This could restrict growth opportunities for the market to an extent.
Bentonite’s Breakthrough: Revolutionizing Pharmaceuticals with Exponential Growth
Bentonite, particularly montmorillonite, is making waves in the pharmaceutical industry, with its usage projected to surge at a robust CAGR of 6.8% from 2024 to 2034. This natural clay is emerging as a game-changer due to its exceptional properties and growing demand for safe, effective, and natural ingredients in pharmaceutical formulations.
Montmorillonite is gaining prominence as an excipient in tablet formation. Its role as a binder ensures that tablets maintain their shape and structure through manufacturing, storage, and distribution. Its non-toxic, inert nature makes it a preferred choice for pharmaceutical products, aligning with the industry’s stringent safety and quality regulations.
The clay’s benefits extend to topical preparations, where its emollient and anti-inflammatory properties are highly valued. Bentonite is frequently found in ointments and creams designed to treat various skin conditions, providing both relief and therapeutic benefits. The growing consumer preference for natural and mineral-based ingredients further fuels its use in these applications.
As the pharmaceutical sector continues to prioritize safety, efficacy, and natural formulations, bentonite is poised to play an increasingly vital role. The clay’s remarkable properties and alignment with industry trends make it a standout ingredient in the future of pharmaceutical products.
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Leading Bentonite Market Players
- Ashapura Group of Companies
- Black Hills Bentonite, LLC
- Charles B Chrystal Co. Inc.
- Clariant AG
- Halliburton Co.
- Kemira OYJ
- Kunimine Industries Co. Ltd.
- Kutch Minerals
- Mineral Technologies Inc.
- Polymer Drilling Systems (PDS) Co Inc.
- Wyo-Ben Inc.
- Addison Building Materials
- Sure Fluids
- J&H Minerals
- Bentonite Ltd
- Zhejiang Yuhong New Materials Co., Ltd.
- Imerys S.A
- Kunimine Industries Co., Ltd.
Key Segments of Market Report
By Product Type:
A few leading types of products are sodium, calcium, and others.
By Application:
The chemical compound has applications in drilling fluids, binders, sealants, absorbents/adsorbents, clarification agents, and others.
By End-use Industry:
A few leading end-use industries are oil, foundry, construction, food, pharmaceuticals, and others.
By Region:
Information about key countries in North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia, the Middle East and Africa, and Oceania is given.
About the Chemicals and Materials Division at Future Market Insights (FMI)
The chemicals and materials division of Future Market Insights (FMI) offers a distinct and pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology in particular, with special emphasis on ‘green alternatives, recycling and renewable technology developments, and supply-demand-trade assessment. Our research studies serve as referencing market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.
Authored By
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
Have a Look at Related Research Reports of Chemicals & Materials
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