The global bleaching clay market size is projected to reach USD 620.72 million by 2032. As the product is majorly used in soybean cultivation, it is expected to showcase a decline in the near future because of the lower output levels in the Northern Hemisphere. But, China will be an exception as it is governed by supportive policies that would drive expansion. Fortune Business Insights™ published this information in a new report, titled, “Bleaching Clay Market, 2024-2032.” The report further states that the market stood at USD 280,862.0 thousand in 2020. It is set to exhibit a CAGR of 6.9% during the forecast period between 2024-2032.
Clariant Broadens Production Capacity and Portfolio in Spain for Biofuels & Edible Oil Markets
In February 2020, Clariant, a leading specialty chemical company headquartered in Switzerland, broadened the production capacity of activated bleaching clays in Spain for the edible oil and biofuel markets. At the same time, the company launched a new line of purification products for local customers. As per one of the company officials, “Our new investments will help us to deliver state-of-the-art purification products to customers in the local market.”
Fortune Business Insights™ lists out the names of prominent bleaching clay producers operating in the global market. They are as follows:
AMCOL Minerals Europe (Winsford, United Kingdom)
Ashapura Group (Pune, Maharashtra, India)
EP Minerals (Reno, NV, United States)
Clariant (Muttenz, Switzerland)
Musim Mas Holdings (Singapore)
Oil-Dri Corporation of America (Chicago, Illinois, United States)
Taiko Group of Companies (Ipoh, Perak, Malaysia)
Other Key Players
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Report Coverage-
We refer to secondary data sources, such as press releases of end-user facilities, investor presentations, annual reports, and industry journals to gather information about the market. Our novel bottom-up approach aids in procuring significant data about the competitive landscape and recent industry developments, such as new product launches, collaborations, agreements, joint ventures, partnerships, contracts, and acquisitions. We also conduct extensive primary research to collect information about the current trends in the bleaching clay industry.
Drivers & Restraints-
High Demand for Cooking Oils and Butter to Bolster Growth
Fats and oils manufacturers are the major users of bleaching clays. These are extensively utilized for removing impurities from vegetable oils, thereby improving their taste, appearance, and performance. These oils and fats find their applications in a wide range of food products, such as animal feed, cooking oils, salad oils, margarine, shortening oils, butter, and honey. In Asia Pacific, China held a considerable share in terms of fat and oil production in 2020. In India, these are used to produce butter and canola. These factors are expected to accelerate the bleaching clay market growth in the forthcoming years.
Segments-
Edible Oils & Fats Segment to Grow Significantly Stoked by Rising Usage in Paraffin Wax
Based on the application, the market is segregated into edible oils & fats, mineral oils and lubricants, and others. Amongst them, the edible oils & fats segment procured the highest bleaching clay market share in 2020. The rising implementation of Fuller’s earth in paraffin wax, biofuels, and edible oils is expected to bolster growth. The mineral oils and lubricants segment would also showcase considerable growth on account of the usage of this product to optimize the operations of mineral oil-based lubricants and bearing surfaces.
Regional Insights-
Increasing Production of Edible Oils to Favor Growth in North America
Asia Pacific: It held USD 1, 45,365.25 thousand in 2020 in terms of revenue and would remain at the forefront throughout the forthcoming years. This growth is attributable to the high demand for bleaching clay for refining and purification purposes. Also, the increasing production of vegetable oil in Indonesia and Malaysia would propel growth.
North America: It is anticipated to be the second-largest region in the upcoming years backed by the presence of renowned companies, such as EP Minerals and Oil-Dri Corporation of America in the region. Additionally, rising export and production activities of processed and crude edible oils in the region would accelerate growth.
Europe: The growth will be majorly contributed by developed countries, such as Spain, the U.K., France, and Germany. The substantial development in the automotive industry, rising disposable incomes, and surging manufacturing bases would spur regional growth.
Competitive Landscape-
Key Companies Aim to Expand Production Capacities to Increase Sales
The global bleaching clay market includes numerous small and medium firms, as well as large organizations. Hence, the scenario of this industry is highly competitive. Most of them are trying to broaden the production capacity of their manufacturing facilities to increase sales.
Information Source: https://www.fortunebusinessinsights.com/bleaching-clay-market-102762