- April 2020 |
- Food and Beverage / Food Ingredients
Global Bentonite Market by Product Type (Sodium, Calcium and Others), By Application (Foundry sands, Iron ore pelletizing, Cat litter, Drilling mud, Civil Engineering, Refining and Others) By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa); Trend Analysis, Competitive Market Share & Forecast, 2016-26
Global Bentonite Market: Overview
Bentonite clay is formed by the alteration of volcanic ash and is primarily used to grease the cutting head, remove drill cuttings and close the borehole walls. The product is odorless, natural, non-corrosive and chemically inert. This product has properties to swell and increase in volume when exposed to water, which helps to ease the enormous stress of trench-free construction, thus increasing the demand for bentonite. Increased use of products across industries as groundwater barriers, pet litter absorbents, and oil & grease absorbers, liquor clarifiers, and iron & steel binders is expected to fuel market growth over the next years to come.
Drilling mud is the largest source of bentonite applications. However, it is expected to lose its share over the upcoming years due to the growing application of the material to other applications such as foundry sands and iron ore pelletizing.
The increased use of iron ore pellets in steel production is expected to have a positive effect on the product market over the forecast period.
Increased demand from end-use applications such as pharmaceutical cleaners and rubber tires in the automotive industry will propel the market over the forecast period. However, stringent legislation, such as the Clean Drinking Water Act, passed by the United States, on chemical additives that are used with bentonite, is a restraint in the bentonite market.
Global Bentonite Market: Market Segmentation
Based on Product type, the global Bentonite market segmented into Sodium, Calcium and Others. Both calcium and sodium bentonite is widely used in drilling mud. Global sodium bentonite accounted for high growth rate in previous years. It is a capable sealant due to its chemical-proof sealing capacity, making it permanent, easy to install, and low-cost.
Based on Application, the global Bentonite market segmented into Foundry sands, Iron ore pelletizing, Cat litter, Drilling mud, Civil Engineering, Refining and Others. There is an increment in demand for bentonite in metal casting molds for brake drums, engine blocks, manhole covers, brass water fittings, transmission housings, and cast iron pans. The product also helps to maintain the mechanical shape of the mold by making the surface impermeable. These factors are assumed to have a positive impact on the market during the projected...