"The Attapulgite Market is estimated to grow at a healthy CAGR of 7.5% during the forecast period."
Market Dynamics
Introduction
Attapulgite is a type of clay mineral, consisting of magnesium aluminium phyllosilicate with very high absorption capacity. Attapulgite has been used in several industries for many years due to its superior absorbing abilities. Due to its high surface area and porosity, attapulgite finds extensive application in oil & gas, pharmaceutical, and pet care industries. It inhibits bacterial growth by effectively absorbing moisture in a short period of time.
Market Drivers
The attapulgite market is driven by a host of factors, some of which are noted below:
- Increasing drilling activities, growing construction and oil & gas industries.
- the increase in demand for attapulgite from various industrial applications, especially oil & gas, is the major factor expected to fuel the growth of the attapulgite market over the forecast period.
- Additionally, an increase in investment for infrastructure development, rapid industrialization, increasing R&D activities, and advancements in drilling technologies are further likely to drive the market growth in the coming years.
Covid-19 Impact
The oil & gas industry was under immense pressure in the wake of weak economic growth, the oil price war between Russia and Saudi Arabia, and low crude oil prices. The outbreak of the COVID-19 pandemic decreased the demand for oil products. As a result, the industry recorded a decline in the year 2020. The impact of COVID-19 on the attapulgite market was minimal and has sustained during the course of the pandemic, as the product has a wide range of applications and is used in a variety of industries ranging from pharmaceuticals to agricultural products to chemicals.
Segment Analysis
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Segmentations
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List of Sub-Segments
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Dominant and Fastest-Growing Segments
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Product Type Analysis
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Colloidal Grade and Sorptive Grade
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Colloidal grade is estimated to remain the major product type in the foreseen future.
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End-User Type Analysis
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Pet Waste Absorbents, Oil & Gas, Agriculture, Paints & Coatings, Medical & Pharmaceutical, and Others
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Oil & gas dominates the market during the forecast period.
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Regional Analysis
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North America, Europe, Asia-Pacific, and Rest of the World
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North America holds the major share of the market during the forecast period.
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By Product Type
"Colloidal grade is estimated to remain the major product type in the foreseen future"
The market is bifurcated into colloidal grade and sorptive grade. Colloidal grade is estimated to remain the major product type in the foreseen future. The demand for colloidal grade attapulgite is primarily driven by its use in oil and water base foundry sand binders, oil-well drilling, as a gelling agent and paint thickener, polishes, for adhesive viscosity control, as a raw material for cat litter absorbents, and in laundry washing powders.
By End-User Type
"Oil & gas dominates the market during the forecast period"
The market is segmented as pet waste absorbents, oil & gas, agriculture, paints & coatings, medical & pharmaceutical, and others. Among these end-user types, oil & gas dominates the market. In the oil & gas industry, attapulgite products are used in applications such as drilling muds. They are also used in suspension, thickening, and clarifying agents, and absorbers. Seawater and saltwater drilling operations are the primary applications for these products.
Regional Analysis
"North America holds the major share of the market for attapulgites"
North America holds the major share of the market for attapulgites on account of their increasing demand from the domestic chemical and pet waste absorbent industries. The increased demand for attapulgite as a pet waste adsorbent, owing to the rising popularity of petting cats in developed countries such as the U.S., is expected to drive the growth of the market in the region. In addition, Asia-Pacific is expected to be the fastest-emerging market during the forecast period. The growing medical, pharmaceutical, and cosmetic industries, as well as rising construction activities in emerging countries as part of the infrastructure development plan, is expected to drive the demand for attapulgites over the forecast period.
Key Players
Oil & gas remains one of the key industries that all the key attapulgite suppliers are targeting today. The following are the key players in the Attapulgite Market(arranged alphabetically)
- Active Minerals International, LLC
- Ashapura Group
- Ashwa Minerals Private Limited
- BASF Corporation
- G&W Mineral Resources
- Geohellas S.A.
- Gunjan Minerals Pvt. Ltd.
- Hudson Resources Limited
- Jaxon Filtration
- KPL International Limited
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?
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Key questions this report answers
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Relevant contents in the report
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How big is the sales opportunity?
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in-depth Analysis of the Attapulgite Market
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How lucrative is the future?
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The market forecast and trend data and emerging trends
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Which regions offer the best sales opportunities?
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Global, regional, and country-level historical data and forecasts
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Which are the most attractive market segments?
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Market Segment Analysis and Forecast
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What are the top players and their market positioning?
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Competitive landscape analysis, Market share analysis
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How complex is the business environment?
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Porter’s five forces analysis, PEST analysis, Life cycle analysis
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What are the factors affecting the market?
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Drivers & challenges
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Will I get the information on my specific requirements?
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10% free customization
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Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s attapulgite market realities and future market possibilities for the forecast period of 2022 to 2027. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
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.
Report Customization Options
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 three players)
- SWOT analysis of key players (up to three 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 the 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
