Global
Bentonite Market: Overview
With
Minerals Technologies Inc., Clariant AG, Imerys SA, and Ashapura Group
acquiring the lead, the global bentonite market is demonstrating a consolidated
vendor landscape, finds a new research report by Transparency Market Research
(TMR). In 2015, these players held more than 3/4th of the overall market and the
scenario is expected to remain more or less the same over the next few years.
As of now, the leading players are emphasizing on the expanding their
manufacturing capacity on account of the soaring demand for bentonite across
the world. Since the demand is slowly inclining towards being greater than the
supply, the market is likely to witnesses a high degree of competition in the
near future and vendors are expected to involve more into strategic partnerships
to sustain in this environment, states the market study.
As per the
report’s estimations, the global bentonite
market was worth US$1.42 bn in 2015. Increasing at a CAGR
of 3.0% during the period from 2016 to 2024, the market’s opportunity is
expected to reach US$1.85 bn by the end of the forecast period. Among all the
products available in this market, sodium bentonite reports the most prominent
demand. Research analysts at TMR anticipate this trend to remain so in the
years to come, thanks to the increasing uptake of green sand casting process in
the foundry.
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Rise
in Construction Industry to Boost Demand for Bentonite
“The
global bentonite market is mainly influenced by the ongoing expansion in the
construction industry,” says a research analyst at TMR. The increasing demand
for smart infrastructure, coupled with rising expenditure in infrastructural
development, has boosted the construction industry across the world, which in
turn, is reflecting greatly on the sales of bentonite, as it is one of the
important components used in the construction of a structure.
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With
continual urbanization, the demand for bentonite is anticipated to increase
substantially in the near future, leading to a high growth of this market.
However, the sluggish growth rate of the oil and gas industry and the declining
demand for IOP grade bentonite in China may hamper the bentonite
market progress over the next few years. Nonetheless, the surge in the
cosmetics and personal care industry and the persistent demand for iron casting
from the heavy equipment manufacturing and the automotive industries are
projected to boost bentonite market significantly in the years to come,
states the research report.
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Asia Pacific to Remain Dominant
A
geographical assessment of the global bentonite market has also been
presented in this market study. North America, the Middle East and Africa, Asia
Pacific, Latin America, and Europe have been considered as the key regional
markets for bentonite in this study. Among these, Asia Pacific has surfaced as
the leading contributor to this market and is projected to remain on the top
over the period of the forecast. The Asia Pacific bentonite market held
30% of the overall market in 2015, notes the research study.
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