Bentonite Market Size to Surpass US $3.0Bn by 2028 |CAGR
LONDON, Jan. 14, 2022 (GLOBE NEWSWIRE) — North America has dominated the Bentonite Market in the past and is expected to do so again during the forecast period. According to the INIS report, the presence of key players in North America provinces is one of the key factors contributing to the growth of the regional market. The American Colloid Company (ACC), for example, is the largest single producer of bentonite and bentonite products in North America through its wholly owned subsidiary, Colloid Environmental Technologies Company (CETCO). Furthermore, the region has a large stock of commercial bentonite products. Such factors have a positive impact on the overall growth of the region, which ultimately contributes to the growth of the bentonite market.
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During the analysis period, Asia Pacific, on the other hand, exhibits an all-time high CAGR for the bentonite market. Among APAC provinces, Japan has boosted the iron pelletizing industry, which ultimately promotes the growth of the APAC regional bentonite market. This is due to the product’s associated benefits, which include improved mechanical and abrasive strength, rapid reduction, and higher mineralization rates compared to ore fines, which ultimately increase sponge iron productivity while consuming less energy. APAC’s bentonite market is mature, owing to widespread adoption of technologically advanced product offerings, as well as improved supply chain efficiency and demand. Furthermore, with the growing construction industry in this region, bentonite shows promising growth in this region, contributing to the overall market growth.
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COVID-19 impact on global bentonite market
The COVID-19 outbreak began in Wuhan in December 2019, and it has rapidly spread throughout the world since then. In terms of positive cases and reported deaths, China, Italy, Iran, Spain, and the Republic of Korea are among the worst affected countries. As a result of the strict lockdowns, travel bans, and business shutdowns, economies and industries in various countries have suffered. Because China is a major manufacturing hub and the largest supplier of raw materials, factory shutdowns, supply chain obstacles, and a global economic downturn have all hampered the growth of the bentonite market. Furthermore, COVID-19 infection has spread to nearly 180 countries around the world, with the World Health Organization (WHO) declaring it a global health crisis. The global effects of the COVID-19 are now being felt, and they will have a significant impact on the bentonite market in the coming years.
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Bentonite based materials are used as adsorbents for wastewater treatment
Because of its low cost and environmentally friendly properties, bentonite has the potential to be used as an effective adsorbent in wastewater treatment. When compared to other minerals studied in relation to the adsorption/desorption process, bentonite after some modifications provides greater stability. Furthermore, bentonite is a highly desirable adsorbent for the removal of a variety of pollutants from wastewater. Because bentonite has significant physical, chemical, nontoxicity, and unique adsorption properties, as well as a high specific surface area and cation exchange capacity, it has gained significant importance for wastewater treatment, resulting in the ultimate growth of the global market.
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The global bentonite market is segmented based on product type and application. Based on product, the market is segmented as sodium, calcium, and others. By application, the market is segregated as foundry sands, iron ore pelletizing, cat litter, drilling mud, civil engineering, refining, and others.
Some of the leading competitors are Minerals Technologies Inc., Imerys S.A., Clariant International Ltd, Ashapura Group, Bentonite Performance Minerals, LLC (BPM), American Colloid Company, Çanbensan Bentonite, NCC, and among others.
Some of the key observations regarding bentonite industry include:
•In July 2021, Minerals Technologies Inc. has announced the acquisition of Normerica Inc. (“Normerica”), a pioneer in the sale of bentonite-based cat litter label pet care products to a large customer base. Both companies’ merger is extremely complementary, both geographically and in terms of product portfolio and customer base.
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