Bentonite Market to Expand at a CAGR of 5.8%, through 2005

Bentonite is a highly colloidal clay mineral discovered in Fort Benton, America, around 1890. Bentonite contain a variety of accessory minerals such as quartz, feldspar, calcite and gypsum. Properties such as water absorption, swelling, viscosity, hydration and thixotropy makes bentonite a valuable material across various industries. Bentonite is extensively utilized in foundries as well as the construction industry. It is used in the manufacture of pharmaceuticals, cosmetics, detergents, paints, dyes, polishes, paper and animal feed. Bentonite is used to purify wastewater and to remove impurities in oils. It acts as a binding agent in the production of iron ore pellets. Also, chemical and mechanical properties of bentonite materials can be altered through various additions and combinations of raw materials, which is based on application or use of finished product. This versatility is fuelling adoption of bentonite by various end-user industries such as construction, automobile and chemical. The global bentonite market accounted for US$ 1.3 Bn in 2014 and forecast to expand at a CAGR of 5.8% over the forecast period, 2015–2025.

Drivers & Trends

Key driving factors identified in the global bentonite market include robust growth of the construction sector in emerging markets, increasing volume of bentonite in agriculture and water treatment & filtration application, and government support to SMEs in specific regions. However, lower profit margin due to intense competition, increasing competition from substitute products etc. could pose challenges. Some major trends identified in the global bentonite market are increasing usage of bentonite in geosynthetic clay liner (gcl) for landfill application and growing usage of bentonite in landscaping application.

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Market Segmentation

The global bentonite market is segmented on the basis of region, product type, end-use application and end-use industry. Product type is further sub-segmented into sodium, calcium and others (includes potassium and aluminum). On the basis of end-use application, the market is further sub-segmented into drilling fluid, binder, sealant, adsorbent/absorbent, clarification agent and others (includes bleaching, sprays and papermaking). On the basis of end-use industries the market is segmented into six segments namely; oil, construction, pharmaceuticals, foundry, foods and others. Key regions covered in the report include North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan, Middle East & Africa and Japan.

Global Bentonite Market Analysis, By Product Type

Global sodium bentonite market accounted for 63.3% share of the global bentonite market value in 2014. The global calcium bentonite market is projected to exhibit higher CAGR of approximately 6% over 2015–2025. Aluminum bentonite is another prominent segment that is expected to register a CAGR of 5% during the forecast period.

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Global Bentonite Market Analysis, By End-use Application

In terms of value and volume, the drilling fluid segment is projected to remain dominant over the forecast period. Binder and absorbent/adsorbent is projected to be the second most attractive segment over the forecast period. Growing usage of bentonite in chemical and pharma industry, and expanding water treatment facilities across the globe are some of the factors expected to propel growth of the adsorbent/absorbent segment over the forecast period. However, growth of the drilling fluids application segment is expected to be driven by growth of the oil industry across the globe, which are expanding at a significant growth rate currently.

Global Bentonite Market Analysis, By Region

From a regional perspective, North America was the largest market for bentonite, accounting for 36.3% share in global bentonite market in 2014. This region continues to dominate the market and the trend is expected to continue over the forecast period. Among countries, India is projected to play an important role due to various factors such as low labour and operational costs and rapid technological advancements in the country. From an application perspective, clarification agent and drilling fluid application segments are projected to exhibit highest CAGR of 6.2% and 6.1%, respectively during the forecast period due to expansion of the oil industry in the Middle East and Asia Pacific, and increasing utilization of bentonite as a clarification agent during water treatment and wine purification processes.