Bentonite Market Size & Growth Analysis (2023 - 2030)

The Global Bentonite Market was at US$ 1,524 million in 2022, and it is foreseen to reach US$ 2,516 million by 2030 with an expansion rate (CAGR) of 6.60% between 2022 and 2030.

In 1898, the term Bentonite was first introduced by Knight (a US-based Geological expert). This unusual rock or clay was found in an exploration conducted by U.S. Geological Survey Department, nearby Rock River, Wyoming, USA.  Bentonite, also known as, bleaching clay, is a natural rock with compounding mixture of minerals containing less than eighty five percent clay mineral, named montmorillonite. Geological scientists claim that Bentonite was formed in crystallization and breakdown process of volcanic ash with sea water. Bentonite has high water absorbent properties. This absorbent property makes it an ideal filler as it expands, when reacted with water. 

The Bentonite market is anticipated to increase globally. An increase in demand is expected for different fuels like petrol, diesel and industrial oils which is obtained by refining. Government is also providing tax relaxation for companies associated with refining. Bentonite Clay is used in healthcare and Cosmetic industry. Its advantages among healthcare and cosmetic industry consists of many. Some of them include, it helps to eliminate toxins from body, helps in treating oily skin, helps in treating rashes and provides sun protection.

Market Drivers & Restraints

Drivers

The increase urbanization and increase in population worldwide is triggering an opportunity for Bentonite Industry. The increase in projects associated with construction sector-for constructing highways, roads, high-rise buildings; Automotive sector- for production of transportation like cars, trucks and machinery; Refinery sector- for refining of petrol, minerals, etc. and others, have increased the demand for Bentonite Market.   

Restraints

Ground water is contaminated with harmful chemicals while drilling mud. The Refining and Oil & Gas sector more mostly done nearby water bodies like seas, rivers and lake. As Bentonite is directly used in these sectors, many international climate control authorities and local government are imposing strict guidelines for companies associated with refining and Oil & Gas sectors. Bentonite also constituents some amount of lead (a type of metal), in its composition. This holds a major threat to human health condition like lowering of human body immune system and damaging human body nervous system.

GLOBAL BENTONITE MARKET REPORT COVERAGE

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Market Segmentation Analysis

This global research report on bentonite market is segmented and sub-segmented into the following categories:

Bentonite Market - By Application

• Foundry Sands
• Cat Litters
• Refining
• Iron Pelletizing
• Drilling Muds
• Sea and Closing Borewell Holes
• Others

Here the demand for Bentonite is greater in global market for Drilling muds, followed by Sea and closing Borewell holes and Refining. The Drilling mud sector captures the largest number of shares as Bentonite provides benefits such as it helps in preventing loss of circulation fluids while drilling and prevents damage of drilling foundation and formation. If drilling is stopped in between operation, Bentonite stabilizes the drill. It aids to control subsurface pressure while drilling. The transportation of debris from bottom of well is transported to surface in process of drilling with help of Bentonite. Helps to lubricate the drill-bit in drilling operation. Cools the drilling process machinery while long operation hours.  In Sea and closing borewell holes it is also used, as it provides benefits such as speedy sealing of borewell and increases life of drill-bit (a component use in drilling machinery).

Bentonite Market - By Products

• Sodium Bentonite
• Sulphur Bentonite
• Calcium Bentonite
• Others

Sodium Bentonite is demanded more in Foundry Sands (it is a type of sand used in process of foundry or sand casting). The benefits of Sodium Bentonite include improves casting productivity, quality and prevents wear and tear of casting or mold. Sodium Bentonite has increased thermal stability, high strength formation, high absorption rate and high alkalinity.

Sulphur Bentonite is anticipated to rise in demand amongst drilling industry, as it provides benefits like prevents drill-bit from corrosion, enhanced lubrication while drilling, better cooling effect in drilling operation and controls the mechanism of drill-bit. 

Calcium Bentonite is used majorly in refining industry. Benefits of using calcium Bentonite include reduces refinery time as it contains high activation degree, helps to removes impurities which are present in oil while refining operation, provides increase efficiency while refining, helps in removal of heavy metal in refining operation due to presence of large acidic medium and etc. Calcium Bentonite is also utilized in various oils available after refinery process. It includes engine oil, lubricants, diesel fuel, mineral oils, industrial oil and edible oil.

Bentonite Market - By End Use

• Construction
• Cosmetic Industry
• Agriculture
• Food and Beverage Industry
• Oil and Gas
• Pharmaceutical
• Automotive
• Others

Here the Construction industry captures the major shares followed by Oil & Gas and Automotive.

Impact of COVID-19 on the Bentonite Market

Globally Covid-19 has put up with lot of struggle and hassles for Bentonite Market. To prevent the outbreak of epidemic many countries have issued and taken several harsh steps which is in return effecting both supply and demand of Bentonite industry. Lockdowns have made factories shut down temporarily which were associated with usage of Bentonite such as Construction, Refining, Food & Beverage, Automotive and Others. General public or people are stopped from going outside certain premises in large groups which is affecting the manufacturing and supply of industries associated with Bentonite. This factor is proportionately tumbling the demand of Bentonite from its users’ point of view.

The import and export of several products is halted due to Covid-19. The trade of Bentonite associated industry is decreased directly due to delayed security check time and exchanging products from countries like China, USA and Brazil where Covid-19 cases are at large worldwide. But every crisis produces and opportunity where the lockdowns imposed are removed in a phased and systematically manner. This in ensuring a glimmer of hope for Bentonite industry. Where many associated press releases predict that Bentonite industry will be back up in coming time. 

Regional Analysis

North America is the major shareholder in global Bentonite Market. USA has several Bentonite manufacturing companies as compared with other countries worldwide. The new exploration activity and new projects being launched in Oil & Gas industry, Refinery and Automotive sectors across USA, is generating more demand for Bentonite market, globally.

Asia-Pacific region is anticipated to rise in demand for Bentonite Market. Countries like China and India, where people population consists of more than one third of world population, is demanding more use of Bentonite in Construction industry, Cosmetic industry, Automotive Industry and Agriculture sector.

European countries like U.K., Germany, Italy and France are showing a gradual rise in demand of Bentonite in global market. The gradual rise is due to certain strict measures being followed with an increase in Covid-19 positivity rates and deaths several people effected with Covid-19.

Top Leading Companies

The key players in contribution to Bentonite Market globally consists of many. Some of them include Wyo-Ben Inc. (USA), Ashapura Group (India), Clariant (Switzerland), Alfa Aesar (USA), Pacific Bentonite Ltd. (Canada), Kunimine Industries Co. Ltd. (Japan), Black Hills Bentonite, LLC (USA), Minerals Technologies Inc. (USA), Kemira (Finland) and Halliburton (USA).