Bentonite Market Analysis & Forecast | 2023-2028

Market Insights

Bentonite Market is expected to grow from USD 1.76 billion in 2022 to USD 2.81 billion by 2028 at a healthy CAGR of 8.1% during the forecast period of 2023-2028.

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What is bentonite?

Bentonite is a colloidal clay mineral, formed from weathering volcanic ash often in the presence of water. It is a naturally occurring clay, prominently consisting of montmorillonite, with high water absorption capacity, which expands and swells. The swelling action of absorption of bentonite is contingent on its ion exchange capacity.

The bentonite market is segmented by product type into sodium, calcium, sulphur, and others and by application type into foundry sands, cat litter, iron ore pelletizing, refining, drilling muds, civil engineering, and others.

Kay Players

Some of the major players in the market are-

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

Market Drivers

The prime factors that are driving the 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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Market Segmentation

By Product Type

The market is segmented as sodium bentonite, calcium bentonite, sulphur bentonite, and others. 

Sodium bentonite is likely to dominate the market owing to higher water absorption than calcium bentonite, it can be used as binders, liner materials, and as waterproofing materials.

By Application Type

The market is segmented as foundry sands, cat litter, iron ore pelletizing, refining, drilling muds, civil engineering, and others. 

Foundry sands application dominated the market in 2020 and is expected to remain the major application type during the forecast period.

Bentonite Market Share: By 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.

The market is segmented into the following categories. 

By Product Type

• Sodium
• Calcium
• Sulphur
• Others

By Application Type

• Foundry Sands
• Cat Litter
• Iron Ore Pelletizing
• Refining
• Drilling Muds
• Civil Engineering
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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.

The following are the key features of the report:

• Overview, industry life cycle analysis, supply chain analysis
• Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Trend and forecast analysis.
• Segment trend and forecast.
• Competitive landscape and dynamics: Market share, product portfolio, Technology launches, etc.
• Attractive segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

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

Target Audience

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

• Manufacturers
• Suppliers
• Distributors
• Organizations
• Government bodies

Customization Option

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)

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.