Selbyville, Delaware, June 24, 2021 (GLOBE NEWSWIRE) -- Based on Global Market Insights Inc., the global Bentonite Market was estimated at $1.40 billion in 2020 and is slated to exceed $2.50 billion by 2027, registering a CAGR of 8% from 2021 to 2027. The report provides a thorough analysis of the main investment avenues, major winning strategies, drivers and opportunities, wavering industry trends, market estimations as well as size, competitive scenarios.
Rising infrastructure activities in emerging nations such as China, South Korea & India and increasing oil & gas exploration in the U.S. and Canada are likely to fuel the demand for bentonite. Additionally, strong economic growth and increasing automotive production in the U.S., Germany, France, Italy, India, South Korea, and Japan will further drive the bentonite market growth over the forecasted period.
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Sulphur bentonite product is anticipated to witness over 8.5% gains in the predicted period. Sulphur bentonite is an aluminum phyllosilicate clay that is comprised of 90% elemental sulphur and 10% bentonite. This yellow-brown solid breaks into minute dust-sized particles on coming into contact with moisture which increases its suitability as a sulfur-rich fertilizer. On the other hand, the sodium bentonite product is projected to grow at growing with a CAGR of over 8.4% over the forecast timeframe due to increasing use of sodium bentonite as stock feeds due to its properties such as high-water absorption, organic absorption, and cation exchangeability.
North America is anticipated to grow at a significant pace at over 9% of the CAGR up to 2027. Large-scale drilling activities in the U.S. may promote the growth of the bentonite market owing to the product’s requirement as a raw material for drilling fluids. Increasing global energy consumption has boosted oil & gas exploration activities thereby stimulating the drilling industry.
Asia Pacific comprises a significant share in the bentonite market and is anticipated to grow with a CAGR of over 9.3% owing to high growth in the agriculture and pharmaceutical industry in the region.
This product ensures cooling & optimal lubrication of drill-bits, rig & tubing and transports cuttings from the bottom to the surface of wells. Bentonite prevents the deposition of these cuttings by keeping them in suspension in case drilling is halted. This product prevents the loss of circulation fluids by depositing filter-cakes on borewell walls, thereby stabilizing the wellbore and preventing any damage to the formation. Drilling mud consists primarily of bentonite clay along with various additives such as calcium carbonate, barium sulfate, and hematite.
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Major players are focusing on strategic initiatives such as partnership and mergers and acquisition to cater to the rising demand for bentonite primarily from pharmaceuticals, construction, oil & gas, cosmetics, paper and pulp, food & beverage, ceramics, agriculture, and wastewater treatment industries. Some of the major manufacturers in the bentonite industry are Wyo-Ben, Mineral Technologies, Halliburton , Delmon Group of Companies, and CETCO.
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