According to Future Market Insights (FMI), the worldwide bentonite clay market is expected to reach USD 1.9 billion in 2024 and USD 3.2 billion by 2034. The market is projected to rise at a CAGR of 5.2% by 2034.
Bentonite is gaining traction in cosmetic preparations as pigment binders and suspending agents, driving its use in the pharmaceutical segment. The foundry and metal casting industries are set to impact the market, particularly in the automobile and equipment manufacturing sectors, due to increased demand for these applications.
The pharmaceutical industry, along with extensive research by key manufacturers, offers ample opportunities for companies in the bentonite market. The industry is driven by its high usage as groundwater barriers, binders in iron and steel manufacturing, liquor clarifiers, and high drilling mud applications.
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Iron ore pellets' increased use in steel manufacturing, high demand from automotive industries, and growing product popularity among end-users further influence the industry. The sector is further gaining traction due to its low product price, ease of availability, and high adsorption capabilities. Growing awareness among users, expansion of manufacturing industries worldwide, and surge in disposable income positively affect the market.
Key Takeaways from the Bentonite Clay Market Report:
The bentonite clay market is expected to reach a value of USD 3.2 billion by 2034.
The market is projected to surge at a CAGR of 5.2% by 2034.
China's bentonite clay market is expected to grow at a CAGR of 5.9% by 2034.
The United States is projected to reach a valuation of USD 568.7 million in 2034.
Based on type, the sodium bentonite segment held a market share of 46% in 2023.
"Bentonite, a drilling fluid additive, is gaining traction in the oil and gas industry due to its robust demand in shale formations. Bentonite's unique properties make it valuable in construction for waterproofing, sealing, and soil stabilization, with increasing demand in emerging economies due to global infrastructure development." – says an analyst at Future Market Insights, Inc.
Competition Outlook
Clariant, Ashapura Group, Bentonite Performance Minerals, Bento Group Minerals, Ningcheng Tianyu, and Xinjiang Nonmetallic Minerals are the key bentonite clay companies in the industry. Leading companies are investing heavily in research and development to expand product lines.
Market participants are also taking strategic initiatives to grow global presence, such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaborations. To survive in this competitive environment, competitors offer cost-effective products. Manufacturers in the bentonite industry are adopting local manufacturing to reduce operating costs and benefit clients.
Industry Updates-
In 2023, Bentoproduct initiated a thirty-day takeover bid for Nematali, a local mining organization.
In 2024, Clariant, headquartered in Switzerland, introduced plastic-free Desi Pak ECO moisture-absorbing packets, a range of natural clay solutions aimed at protecting sealed packaged goods from water damage.
Get More Valuable Insights
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global bentonite clay market, presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034.
The study incorporates compelling insights into the bentonite clay industry based on type (sodium bentonite, calcium bentonite, and potassium bentonite), application (molding sands, iron ore pelletizing, pet litter, drilling mud, civil engineering, and agriculture), and region.