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.
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.
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.
This report by Future Market Insights on ‘Global Bentonite Market’ for the period 2015–2025 represents the outlook in bentonite market across the globe. The primary objective of the report is to offer updates and market opportunities in the global bentonite market.
To understand and assess insights of the global bentonite market, the report is categorically split under four sections namely: market analysis by region, product type, end-use application and end-use industry. The report analyses the global bentonite market in terms of market value (US$ Mn) and volume (‘000 Tonnes)
The report starts with an overview of the bentonite market across the globe. This section also includes FMI’s analyses of key trends, drivers and restraints from the supply and demand perspective. Impact analysis of key growth drivers and restraints based on the weighted average model are included in the report to better equip and arm client with crystal clear decision making insights.
The next section of the report includes analysis of the global market on the basis of geographical segmentation. The global bentonite market is geographically segmented into seven key regions which include:
The section that follows analyses the market on the basis of product type and presents the forecast in terms of volume and value for the next 10 years. Product type covered in the report include:
The next section analyses the market based on end-use application and presents the forecast in terms of volume and value for the next 10 years. End-use application covered in the report include:
This is followed by a section analyzing the market based on end-use industries and presents the forecast in terms of value. End-use industry included in report is categorized into six sub-segment which are:
To calculate the market size, the report considers average selling price of various types of bentonite across geographies. Furthermore, data points such as regional split and market split by applications and process and qualitative inputs from primary respondents have been incorporated to arrive at apt market estimates. The forecast presented here assesses the total revenue from the bentonite market. When developing the forecast of the market, the starting point is sizing the current market, which forms the basis on how the market is anticipated to take shape in the near future. Given the characteristics of the market, we triangulated the outcome on the basis of various analysis results based on supply side and demand side. However, quantifying the market across aforementioned segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalizing them after the forecast has been completed.
In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse on the basis of key parameters such as year-on-year (Y-o-Y) growth to understand the predictability of the market and to identify the right opportunities across the bentonite market.
As previously highlighted, the market for bentonite is split into various sub-segments or categories, based on region, product type, end-use industries and end-use applications. All these sub-segments or categories have been analysed in terms of basis point share (BPS) to understand individual segments relative contribution to growth. This detailed level of information is important for identification of many key trends in the bentonite market.
Another key feature of this report is the analysis of the bentonite market by regions, product type, end-use applications and its revenue forecast in terms of absolute dollar. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the global bentonite market.
Furthermore, to understand key growth segments in terms of growth & performance of bentonite market, Future Market Insights developed a market attractiveness index. The resulting index should help providers to identify real market opportunities.
In the final section of the report, the bentonite market landscape is included to provide report audiences with a dashboard view, based on categories of providers across the value chain, presence in bentonite product portfolio and key differentiators. Some market players featured in the section include: