Bentonite Market Analysis | 2023-2028

Market Insights

The Bentonite Market was estimated at US$ 1.76 billion in 2022 and is expected to grow at a CAGR of 8.1% during 2023-2028 to reach US$ 2.81 billion by 2028.

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What is Bentonite?

Bentonite is a kind of clay that is mostly made up of the mineral montmorillonite, which is abundant in hydrated aluminum silicates. It originates from layers of volcanic ash that have seen considerable weathering over time. Bentonite, a unique material with several uses in industry, is used to make foundry sands, drilling muds, and cat litter. It can absorb huge amounts of water and expand to many times its original volume.

Furthermore, its capacity to combine water to produce a gel-like material renders it advantageous in environmental and geotechnical engineering contexts to seal and line ponds, landfills, and wastewater containment systems.

Market Dynamics

The prime factors that are driving the global bentonite market are-

• Infrastructure growth in developing economies such as India, Brazil, and China is driving the construction industry.

• Bentonite is used in tunneling, building waterproof screens, slurry walls, waterproofing foundations, and stabilization of casings.

• Increasing use of bentonite in oil well cement and drilling fluid applications.

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COVID-19 Impact

The lockdown caused a minor slowdown in the market in 2020. The COVID-19 pandemic has increased churn and shaken nearly every industry. The lockdown is harming manufacturing, supply chains, and logistics, as well as the continuity of operations in various sectors.

Manufacturing, transportation & logistics, retail, and consumer goods face the most challenges. The availability of essential items is hampered by a lack of manpower to work on production lines, supply chains, and transportation, even though essential items are exempt from the lockdown.

Segments Analysis

By Product Type

The market is segmented into sodium bentonite, calcium bentonite, sulphur bentonite, and others. Sodium bentonite is likely to dominate the market during the forecast period, owing to higher water absorption than calcium bentonite, it can be used as binders, liner materials, and waterproofing materials.

By Application Type

The bentonite market is segmented into foundry sands, cat litter, iron ore pelletizing, refining, drilling muds, civil engineering, and others. Foundry sands application dominated the market and is expected to remain the major application type during the forecast period.

Regional Analysis

In terms of region, North America is estimated to be the largest market driven by large-scale drilling and exploration activities in the USA.

Asia-Pacific is expected to witness the highest growth during the forecast period driven by emerging economies such as China, India, ASEAN countries, and others.

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Key Players

The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc.

The following are the key players in the global bentonite market (arranged alphabetically).

• Black Hills Bentonite
• CETCO
• Delmon Group of Companies
• Halliburton
• Mineral Technologies

Note: The above list does not necessarily include all the top players in the market.

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Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Target Audience

The following is a list of the customers that the bentonite market aims to convert the most:

• Manufacturers
• Suppliers
• Distributors
• Organizations
• Government bodies

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. 

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. 

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players).
• SWOT analysis of key players (up to 3 players).

Market Segmentation

• Current market segmentation of any one of the product types by application type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.