On account of rising energy requirements, bentonite is witnessing substantial consumption in oil & gas drilling segment. Moreover, numerous uses of bentonite in applications such as pharmaceuticals, animal feed, detergents, consmetics, dyes, and paints are causing a spike in demand. A new Future Market Insights (FMI) report projects the growth rate of global bentonite market at 4.3% through the forecast period (2019-2029).
Key Takeaways of Bentonite Market Study
- Construction remains the prominent end-use segment for bentonite.
- Role of bentonite as a drilling agent is accelerating its usage in oil & gas drilling activities.
- Water treatment applications are pushing adoption of bentonite which is bolstering market growth.
- Majority of demand for bentonite remains concentrated in Asia Pacific.
- North America bentonite market will observe noteworthy CAGR through 2029.
- Stringent government norms regarding the use of bentonite with certain chemical additives is restraining market growth.
Leading innovators must develop and launch new products which cater to various industries to leverage the versatility of bentonite thereby fostering their market position.
Asia Pacific to be the Leading Contributor to Bentonite Market Growth Through 2029
In view of thriving end-use industries and higher net worth income of consumers, bentonite market in Asia Pacific will exhibit profuse growth over the forecast period. Asia Pacific bentonite market occupies 42.3% revenue share on account of heightened demand for consumer care products in emerging economies such as China and India.
On the other hand, North America will account for substantial market share through the forecast period. The higher uptake of bentonite in oil & gas exploration activities is to be attributed for regional market growth. However, stricter regulatory norms in North America will constrain the bentonite market growth in the region.
For More Detailed Insights on Bentonite Market
Key Market Players Expedite R&D Undertakings for Sustained Leadership
Major players featured in this FMI study include, but are not limited to, American Colloid Company, Alfa Aesar, Atlantic Screen & Mfg., Inc., Bentonite Company LLC, BariteWorld, Bentonit Uniao, Bentonite Performance Minerals LLC, LLC, Bulk Apothecary, Black Hills Bentonite, Aydin Bentonit, Ashapura Group of Companies, and CIMBAR Performance Minerals.
Apart from engaging in increasing R&D undertakings, market leaders are also focused on aggressive pricing strategy. The competitive landscape of bentonite market is highly fragmented in nature. Quality and pricing remain the strategic focal point of premier companies. Moreover, they opt for collaboration with various drilling industry players and foundries for long-term value creation.
More about the Report
FMI’s study offers an in-depth market forecast and analysis on the global bentonite market. The major categories encompassed by the report include product type (sodium and calcium), end-use application (drilling fluid, binder, sealant, adsorbent/absorbent, and clarification agent) across five regions (North America, Latin America, Europe, Middle East & Africa, Asia Pacific).
For additional information on how the research was undertaken and how the market growth will unfold in the near future, write the expert research analyst at [email protected]
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The Chemicals & Materials division at FMI offers distinct and pin-point analysis about the chemicals & materials industry. Coverage of the chemicals market extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites, and nanotechnology. The team also puts special emphasis on ‘green alternatives’, recycling and renewable technology developments, and supply-demand trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.