Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Bentonite is a colloidal clay mineral with high swelling properties and good viscosity and liquid limit. These properties are highly beneficial in industrial application such as the preparation of pellets and foundry. Bentonite is also used as a suspending agent in oil for well-drilling fluids. Furthermore, it has good green strength and high hot and dry strength that helps to prevent the formation of molds from breaking or cracking during the pouring or cooling process in the construction industry. Additionally, it is also used in iron ore pelletization, pharmaceuticals, detergents, paints, cosmetics, dyes, paper, polishes, and animal feed are some of the major applications of bentonite.
The global bentonite market is estimated to account for US$ 2,810.16 million in terms of value and 41,010.40 Thousand Metric Tonnes in terms of volume by the end of 2027
The booming construction industry around the globe is projected to fuel the demand for bentonite. Increasing investment by the government in the construction industry is propelling the demand for bentonite. It is used in sealant applications due to its swelling property. Therefore, the growing construction industry across the globe is a major factor propelling market growth over the forecast period. Moreover, rising clay applications across the various sector are also estimated to boost the market growth of bentonite.
Increasing application of bentonite in agriculture, water treatment, and filtration application. Bentonite is an ideal soil preserving natural materials that are used in organic farming to protect and maintain the quality of the soil. Also, it is excellent adsorbent as it can absorb nearly 75% – 80% impurities when mixed added with either zeolite or limestone with coagulants in water treatment and filtration process. Hence, expanding organic farming and rising numbers of water treatment plants around the globe is projected to propel the market growth of bentonite over the forecast timeframe.
Bentonite contains a high level of lead that can pose a health risk such as serious damages to the central nervous system, immune system, and affect the kidney as well. For instance, in March 2016, the U.S. Food and Drug Administration has warned consumers on the usage of “Best Bentonite Clay,” a product of Best Bentonite, located in Guthrie, Oklahoma. FDA has examined that the product has elevated lead levels of lead and may pose serious health issues. Therefore, this is projected to hamper the market growth of bentonite.
Rising concern over the depletion of bentonite as it is a natural material and is extracted mainly from mines around the world. For this various regulatory body around the globe have imposed restrictions on trans-continental trade of bentonite. Therefore, the limited availability of bentonite is projected to negatively affect the market growth of bentonite to some extent over the forecast period.
North America region dominated the global bentonite market in 2018, accounting for 35.1% share in terms of volume, followed by APEJ, Western Europe, respectively.
Increasing utilization of bentonite in landscaping application due to its excellent holding water property is projected to propel the market growth over the forecast period. Moreover, it improves the performance and efficiency of the soil. Furthermore, a large construction area where there is no plant growth, bentonite is widely used with soil as a key ingredient. Hence rising usage of bentonite in landscaping application is expected to fuel the market growth over the forecast period.
Rising production of bentonite in the Asia Pacific region in Order to Support rising demand from Domestic End-use Industries is expected to fuel the market growth. Various companies and country's governments are investing heavily in the Asia Pacific region, particularly in India and China to speed up the production for increasing the supply of bentonite in order to support manufacturing activity in the region is projected to boost the market growth over the forecast period.
Global bentonite market was valued at 1,670.47 million in 2018 and is forecast to reach a value of US$ 2,810.16 million by 2027 at a CAGR of 5.82% between 2019 and 2027
Market Trends/Key Takeaways
Key players of GCL systems and landfill operators are rapidly encouraging the usage of sodium bentonite clay for improved performance and to meet government policies for municipal waste landfill applications. This trend is rapidly gaining traction in a developed nation such as the U.S. and U.K. Therefore, this is expected to fuel the market growth of bentonite over the forecast period.
Rising demand for personal care products and consumer care products such as toiletries and related products is projected to fuel the market growth. Bentonite is widely used as a raw material in the production of soaps and detergents due to its excellent bleaching property. Therefore, growing global demand for consumer care products around the globe is projected to surge the market growth of bentonite over the forecast period.
Value Chain Analysis
Players active in the market are Kemira OYJ, Mineral Technologies Inc., Clariant AG, Kunimine Industries Co., Ltd., Charles B Chrystal Co. Inc., and Alfa Aesar, Kutch Minerals, Ashapura Group of Companies, Halliburton Co., Wyo-Ben, Inc., Polymer Drilling Systems (PDS) Co, Inc., and Black Hills Bentonite, LLC
Mineral Technologies Inc.
- In December 2018, American Colloid Company, a subsidiary of Minerals Technologies Inc. announced that it will increase prices of all bentonite and bentonite-related products serving the foundry, household and personal care, oil and gas, and construction markets, due to significant inflation in input, raw material, and logistics costs.