Global Bentonite Market Size to Reach USD 3.88 Billion in 2032 | Emergen Research

Increasing need for bentonite in the oil and gas industry, growing need for iron ore pellet production in steel manufacturing are major factors driving the Bentonite market revenue growth.

Vancouver, Nov. 14, 2023 (GLOBE NEWSWIRE) — The global bentonite market has demonstrated a remarkable growth trajectory, reaching a size of USD 2.00 Billion in 2022, with expectations of a steady revenue Compound Annual Growth Rate (CAGR) of 6.5% during the forecast period. The market is propelled by several key factors, including the increasing demand for bentonite in the oil and gas industry, the rising need for iron ore pellet production in steel manufacturing, and growing demands from the drilling industry.

Oil and Gas Industry Boosts Bentonite Market:

 A major driver of the market is the escalating requirement for bentonite in the oil and gas sector. Bentonite, a fundamental component of drilling mud, exhibits superior performance, creating a slurry that cleans boreholes, lubricates and cools drill bits, and shields underground formations. The thixotropic effect of bentonite prevents penetration into surrounding soil, making it ideal for geotechnical and environmental research in oil and gas wells. However, strict government regulations in the United States, such as the Toxic Substances Control Act, may pose challenges to market growth.

Drilling Industry’s Role in Growth:

The drilling industry plays a pivotal role in the market’s growth as bentonite enhances the effectiveness and performance of drilling fluids. Increased viscosity and gel strength of fluids assist in suspending and carrying drill cuttings to the surface, protecting the borehole, and reducing fluid loss. Bentonite is a crucial component of water-based drilling fluids, especially in Horizontal Directional Drilling (HDD) and other trenchless techniques. Despite potential regulatory hurdles, the market is expected to thrive as bentonite continues to be modified and blended with additives to meet diverse drilling requirements.

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Market Trends:

A noteworthy trend is the rising use of organically modified bentonites in geosynthetic clay liner systems. These Organo bentonites, altered by ion exchange, offer enhanced adsorption of organic pollutants and improved chemical compatibility in geosynthetic clay liners. The market is witnessing innovation to meet environmental and engineering demands.

Product Type Insights:

In 2022, the sodium bentonite segment dominated the market due to its high demand in various industrial applications. Its superior swelling capacity and water absorption, coupled with cost advantages, give sodium bentonite a competitive edge. Meanwhile, the calcium bentonite segment is anticipated to experience rapid revenue growth, driven by its use in the food industry to absorb pollutants and enhance the clarity, flavor, and shelf life of various products.

Application Insights:

The foundry sands segment held the largest revenue share in 2022, driven by substantial demand for bentonite as a bonding agent in metal casting. In contrast, the drilling muds segment is expected to witness significant revenue growth, fueled by the need for oil and gas production and development, particularly in unconventional resources. The pharmaceuticals segment dominated end-use industries in 2022, with bentonite used as a binder, filler, and carrier in pharmaceutical formulations.

Regional Insights:

Asia Pacific claimed a significant revenue share in 2022, driven by the rising demand for bentonite in personal care, cosmetics, and construction industries. Key market players are actively participating in regional events to showcase the impact of bentonite solutions on safety and productivity. North America, with substantial bentonite deposits in Wyoming, is poised for robust growth, propelled by increased drilling and fracking technology investment. Europe, driven by the pet litter market, is expected to register fast revenue growth due to the rising adoption of cats and the demand for natural and environmentally friendly cat litter products.

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Scope of Research

Report Details Outcome
Market size in 2022 USD 2.00 Billion
CAGR (2023–2032) 6.5%
Revenue forecast to 2032 USD 3.88 Billion
Base year for estimation 2022
Historical data 2019-2021
Forecast period 2023–2032
Quantitative units Revenue in USD Billion and CAGR in % from 2023 to 2032
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Product type, mining type, application, end-use industry, and region
Regional scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Country scope U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA
Key companies profiled Black Hills Bentonite LLC, Halliburton, Kemira, Charles B Chrystal Co., Mineral Technologies, Clariant, Alfa Aesar, Kutch Minerals, Kunimine Industries Co., Ltd. and Ashapura Group
Customization scope 10 hours of free customization and expert consultation

Major Companies and Competitive Landscape

The global bentonite market is moderately fragmented, with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective Bentonite solutions. Some major players included in the global bentonite market report are:

  • Black Hills Bentonite LLC
  • Halliburton
  • Kemira
  • Charles B Chrystal Co.
  • Mineral Technologies
  • Clariant
  • Alfa Aesar
  • Kutch Minerals
  • Kunimine Industries Co., Ltd.
  • Ashapura Group
  • Wyo-Ben Inc.
  • AMCOL International Corp
  • MidPoint Chemicals Company
  • Volclay Japan Co.
  • Cimbar Performance Minerals
  • Amsyn Inc.
  • Polymer Drilling Systems (PDS) Co Inc.
  • Pacific Bentonite Ltd.
  • Imerys

Strategic Development

  • On 15 June 2021, Clariant announced its partnership with Omya International to create and commercialize new sustainable mineral solutions for the paints and coatings, adhesives and sealants, plastics, rubber, and construction markets. The alliance will concentrate on creating fresh, environmentally friendly additives based on natural minerals including kaolin, bentonite, and calcium carbonate. These minerals are useful in a variety of applications including improved rheology, opacity, gloss, mechanical strength, and durability.
  • In 2020, Wyo-Ben Inc. launched an innovative product line of bentonite-based drilling fluids known as Wyoming Supra Gel. It is a high-performance and high-yield bentonite that can be used in drilling fluids including those in fresh water, salt water, and brine. It improves the stability of borehole, drill bit penetration rate, and the removal of cuttings from the wellbore.

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Segments Covered in Report

For the purpose of this report, Emergen Research has segmented the global bentonite market on the basis of product type, application, mining type, end-use industry, and region:

  • Product Type Outlook (Revenue in USD Billion & Volume in Thousand Units; 2019-2032)
    • Sodium Bentonite
    • Calcium Bentonite
    • Sulphur Bentonite
    • Others
  • Application Outlook (Revenue in USD Billion & Volume in Thousand Units; 2019-2032)
    • Foundry Sands
    • Cat Litter
    • Iron Ore Pelletizing
    • Refining
    • Drilling Muds
    • Civil Engineering
  • Mining Type Outlook (Revenue in USD Billion & Volume in Thousand Units; 2019-2032)
    • Underground Mining
    • Surface Mining
  • End-Use Industry Outlook (Revenue in USD Billion & Volume in Thousand Units; 2019-2032)
    • Construction
    • Oil
    • Food
    • Pharmaceuticals
  • Regional Outlook (Revenue, USD Billion; 2019–2032)
    • North America
      1. U.S.
      2. Canada
      3. Mexico
    • Europe
      1. Germany
      2. France
      3. U.K.
      4. Italy
      5. Spain
      6. Benelux
      7. Rest of Europe
    • Asia Pacific
      1. China
      2. India
      3. Japan
      4. South Korea
      5. Rest of APAC
    • Latin America
      1. Brazil
      2. Rest of LATAM
    • Middle East & Africa
      1. Saudi Arabia
      2. UAE
      3. South Africa
      4. Turkey
      5. Rest of MEA

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