BANGALORE, India, June 22, 2022 /PRNewswire/ -- The Bentonite Market is segmented By Type - Sodium Bentonite, Calcium Bentonite, By Application - Molding Sands, Iron Ore Pelletizing, Pet Litter, Drilling Mud, Civil Engineering, Agriculture, Others. Global Opportunity Analysis and Industry Forecast, 2022-2028. It is published in Valuates Reports under theChemicals Industry Category.
The Global Bentonite market size is estimated to be worth USD 1422.7 million in 2022 and is forecast to be a readjusted size of USD 1640.3 million by 2028 with a CAGR of 2.4% during the review period.
Major Factors Driving The Growth Of The Bentonite Market Are
Increasing demand for bentonite in various applications such as Molding Sands, Iron Ore Pelletizing, Pet Litter, Drilling Mud, Civil Engineering, and Agriculture is expected to drive the bentonite market growth.
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TRENDS INFLUENCING THE GROWTH OF THE BENTONITE MARKET
The increasing use of bentonite in the construction industry is expected to drive the growth of the bentonite market. Because of its rheological properties, bentonite is most typically utilized in the construction sector in a fluidic condition, which is known as bentonite slurry. The term "bentonite slurry" refers to a mixture of sodium bentonite and slurry. A slurry is a thin, sloppy mud or cement, or, in long-term use, any fluid mixture of crushed solids and water, commonly employed to handle solids in bulk. Bentonite is used to create self-hardening mixtures that are then used to construct cut-off walls, grouting mortars, and grouting. Finally, the waterproofing qualities of bentonite are best used in environmental engineering to prevent soil infiltration and line landfill bases.
The Bentonite market is likely to be driven by the increasing usage of bentonite in the iron ore pelletizing process. In the manufacturing of iron ore pellets, bentonite is utilized as a binding agent. Iron ore fines are transformed into spherical pellets in this process, which can be used as feed material in blast furnaces for pig iron production or direct reduction iron production (DRI).
Because they are not poisonous or irritating, bentonites have long been employed as an excipient in the pharmaceutical sector. Because they cannot be absorbed by the human body, they have also been utilized in the development of topical and oral treatments. Bentonite is a viscosity modifier, adsorbent, stabilizer, thickening, and suspending agent. They're mostly used to make topical suspensions, gels, and solutions. This in turn is expected to drive the growth of the Bentonite market.
Bentonite is used as an animal feed additive, a pelletizing aid in the manufacturing of animal feed pellets, and a flowability help for unconsolidated feed ingredients like soy meal. It's also employed as an ion exchanger in the soil to enhance and condition it. It can be utilized as a porous ceramic carrier for various herbicides and insecticides after being thermally processed.
Furthermore, even though the industry has begun to employ alternative technologies and has replaced Bentonite with other goods, Bentonite is still used in the creation of molds for casting. Molding sands are made up of sand and clay, mainly Bentonite, which gives the mixture cohesiveness and plasticity. This makes it easier to mold the molten material once it has been poured and provides enough strength to keep the shape after the mold is withdrawn.
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BENTONITE MARKET SHARE ANALYSIS
Based on application, construction and iron ore pelletizing are expected to be the most lucrative segment. Increased public spending in nations like Brazil, Argentina, India, China, and Malaysia is expected to bolster the building industry. Increased demand for high-grade iron ore has led to a rise in the use of the ore pelletizing process, which might help the bentonite market grow even faster.
Based on region, Asia-pacific is expected to be the most lucrative region. Rising demand from the construction, metallurgy, and oil & gas industries is expected to increase product demand in the region.
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Market By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
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Key players
- Amcol(US)
- Bentonite Performance Minerals LLC(US)
- Wyo-Ben Inc(US)
- Black Hills Bentonite(US)
- Tolsa Group (Spain)
- Imerys (S&B) (France)
- Clariant (Switzerland)
- Bentonite Company LLC (Russia)
- Laviosa Minerals SpA (Italy)
- LKAB Minerals (Netherlands)
- Ashapura (India)
- Star Bentonite Group (India)
- Kunimine Industries (Japan)
- Huawei Bentonite (China)
- Fenghong New Material (China)
- Chang'an Renheng (China)
- Liufangzi Bentonite (China)
- Bentonit Uniao (Brazil)
- Castiglioni Pes y Cia (Argentina)
- Canbensan (Turkey)
- Aydin Bentonit (Turkey)
- KarBen (Turkey)
- G & W Mineral Resources (South Africa)
- Ningcheng Tianyu (China)
- Elementis (UK)
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SIMILAR REPORTS
- The global Sulphur Bentonite market was valued at USD 161.1 million in 2020 and it is expected to reach USD 277.7 million by the end of 2027, growing at a CAGR of 8.1% during 2021-2027.
- The global Iron Ore Pellets market size is estimated to be worth USD 54480 million in 2022 and is forecast to be a readjusted size of USD 67010 million by 2028 with a CAGR of 3.5% during the review period.
- The global Iron Ore market size is estimated to be worth USD 176920 million in 2022 and is forecast to be a readjusted size of USD 151980 million by 2028 with a CAGR of -2.5% during the review period.
- The global Pharmaceutical Grade Bentonite market was valued at USD 18 million in 2020 and it is expected to reach USD 28 million by the end of 2027, growing at a CAGR of 6.3% during 2021-2027.
- The global Cosmetic Grade Bentonite market was valued at USD 40 million in 2020 and it is expected to reach USD 62 million by the end of 2027, growing at a CAGR of 6.3% during 2021-2027.
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