Rising applications of bentonite as a bonding material in preparation of molding sand, in cat litter, and as a sealing material to protect groundwater from pollutants are some key factors expected to drive market growth
NEW YORK, April 19, 2022 /PRNewswire/ -- Reports and Data has recently published its latest report titled "Bentonite Market Size, Share, & Trends, Product Type (Sodium Bentonite, Calcium Bentonite, Sulphur Bentonite And Others), By Application (Foundry Sands, Iron Ore Pelletizing, Pet Litter, Drilling Mud, Civil Engineering, Refining, Others), By End Use (Iron & Steel, Oil & Gas, Automotive, Construction, Agriculture, Pharmaceuticals, Others), By Region, Global Forecast To 2028."
According to the latest report by Reports and Data, the global bentonite market size was USD 1.48 billion in 2020 and is expected to reach USD 2.16 billion in 2028 and register a revenue CAGR of 6.1% during the forecast period, 2021-2028.
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Drivers, Restraints, and Opportunities
Bentonite is an off-white montmorillonite clay generated from altered volcanic ash and has a sheet-silicate structure. Bentonite is widely known for its ability to absorb and lose water and for its base-exchange properties. Bentonite has a broad range of applications including animal feed, drilling mud, foundry, absorbent, industrial, and specialty uses. Bentonite dispersions are also used to grout cracks and fissures in rocks, for soil injection, and to restraint water and wastewater movement through sand, gravel, and soils. Growing use of bentonite in sealing waste deposits, sewage ponds, and ornamental ponds, use of bentonite dispersions as lubricants in drilling fluids, and addition of bentonite to waterproof concrete walls and floors are some key factors expected to drive market revenue growth over the forecast period. In addition, bentonite serves as an important additive in bitumen emulsions and is added to mortar to increase its plasticity and these are some other factors expected to boost application of bentonite in civil engineering applications and contribute to revenue growth over the forecast period.
Bentonite is a clay that is generated from the alteration of volcanic ash that consists of smectite minerals such as montmorillonite, hectorite, saponite, beidelitem, and nontronite. Based on the nature of genesis of smectite crystallites, bentonite contain a variety of accessory minerals besides montmorillonite. These minerals include quartz, feldspar, gypsum, and calcite. Bentonite has strong colloidal properties and on contact with water, its volume increases several times which creates a gelatinous and viscous fluid. These special properties of bentonite such as hydration, viscosity, swelling and water absorption, and thixotropy make it a valuable material for a broad range of uses and applications. Bentonite is used as a bonding material in preparation of molding sand in foundry for the production of iron, steel, and non-ferrous casting. It is also used as a binding agent in production of iron pellets. Bentonite is used as an animal feed supplement and as a pelletizing agent in production of animal feed pellets. Bentonite can absorb excess moisture and oils which can prevent lumping and caking of the pellets. Base-exchange properties of bentonite enable it to remove certain toxins and ammonia. It also reduced feed flow through the intestines, in turn, improving nutrient uptake and enhancing milk production, wool growth, and quality and production of eggs. This has boosted its use in agriculture sector and is expected to continue to drive market growth going ahead.
Bentonite is majorly used as drilling mud and is often mixed with water to form slurry which is pumped through drill string and out from the drill bit. Bentonite is also used to fill and seal abandoned drill holes. In addition, bentonite can be used as a buffer and backfill material in deep geological repositories of high-level radioactive waste. These are some other factors that are expected to contribute to market revenue growth over the forecast period. However, elevated levels of lead in bentonite clay used in cosmetics and pharmaceuticals which can cause serious damage to central nervous system, kidneys, and immune systems is a factor that can limit use of bentonite clay in personal care products. Some bentonite can also contain variable amounts of respirable crystalline silica, which is a recognize carcinogen and this can potentially limit its adoption and hamper revenue growth of the market to a certain extent over the forecast period.
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COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Sodium Bentonite Segment Revenue to Support Market Growth:
Sodium bentonite segment is expected to register rapid revenue growth over the forecast period attributable to increasing use of sodium bentonite as a sealant for landfills, sewage lagoons, and sealing recreational ponds, as a drilling mud additive in oil and gas industries, and growing use of sodium bentonite in civil engineering applications. Natural sodium bentonite swells many times its mass and forms a strong water and chemical proof seal which makes it an ideal, cost-effective, permanent, and easy to install. Sodium bentonite is eco-friendly and safe to use and is also used as hole plug and to control dust on highways. Sodium bentonite is devoid of chemicals, additives, and toxic substances and this is boosting its use in civil engineering applications and is expected to drive revenue growth of the segment over the forecast period.
Growing use of Bentonite Clay in Face Masks to Drive Revenue Growth of Pharmaceutical Segment:
Pharmaceutical segment is expected to register robust revenue CAGR over the forecast period attributable to increasing use of bentonite as a filler in pharmaceuticals such as industrial protective creams, calamine lotions, and anti-irritants for eczema due to its robust absorption/adsorption functions. Bentonite is often used as an antidote or detoxifier in heavy metal poisoning as its absorption properties allow drawing of heavy metals from the body. Bentonite is majorly used in face packs, baby and face powders, and in certain toothpastes. Bentonite is popular choice for masks and pastes that can be easily applied to unbroken skin and non-sensitive areas of the body and this is a key factor expected to contribute to revenue growth of the segment.
North America to Dominate Other Regions in Terms of Revenue Share:
North America is expected to account for a significantly large revenue share in the global market over the forecast period attributable to presence of large ores of bentonite clay, increasing number of oil and gas drilling activities, and growing use of bentonite in wastewater purification. Bentonite is used in cement and mortars due to its viscosity and plasticity and growing number of construction and building activities in the region is creating an increased demand for cement and mortars and is expected to further fuel revenue growth of the market in the region.
Asia Pacific to Register Rapid Revenue CAGR:
Asia Pacific is expected to register rapid revenue CAGR over the forecast period attributable to increasing demand for bentonite clay from agriculture and construction industries and growing popularity of bentonite-based face masks due to rising focus on skincare and personal care routine among individuals in the region. Increasing production of automobile, growing production and exports of bentonite from India and China, and growing demand for consumer care products infused with bentonite are some other factors expected to fuel Asia Pacific market revenue growth.
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Major Companies in the Market Include:
- IMERYS SA
- Minerals Technologies Inc.
- Charles B. Chrystal Co. Inc.
- Bentonite Performance Minerals LLC
- Wyo-Ben Inc.
- Alfa Aesar
- Clariant International Ltd.
- Volclay International
- American Colloid Co.
- Canbensan
- Ashapura Group
- Amsyn Inc.
- Dantonit A/S
- MidPoint Chemicals Company
- AMCOL International
For this study, Reports and Data has segmented the bentonite market based on product type, application, end use, and region:
Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2018-2028)
- Sodium Bentonite
- Carbon Bentonite
- Others
Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2018-2028)
- Foundry Sands
- Iron Ore Pelletizing
- Pet Litter
- Drilling Mud
- Civil Engineering
- Refining
- Others
End Use Outlook (Volume, Kilo Tons; Revenue, USD Million; 2018-2028)
- Iron & Steel
- Oil & Gas
- Automotive
- Construction
- Agriculture
- Pharmaceuticals
- Others
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2018-2028)
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Rest of Middle East & Africa
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