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Bentonite Market: By Product Type, By Application, and Region Forecast 2019-2030
Bentonite Market: By Product Type, By Application, and Region Forecast 2019-2030
Bentonite Market size was valued at US$ 1,526.8 million in 2023, growing at a CAGR of 6.1% from 2024 to 2030. The global market provides a detailed overview that can be segmented by product type and by application. By product type, the global market has been segmented into Sodium Bentonite, Calcium Bentonite, Sulphur Bentonite, and Others. The Sodium Bentonite segment is likely to be the largest and fastest-growing segment in terms of product type in 2021 and is expected to maintain the trend. Based on application, the global market is segmented into Foundry Sands, Cat Litter, Construction, Iron Ore Pelletizing, Drilling Mud, Refining, and Others. Among these, the Foundry Sands segment is expected to have the fastest-growing market during the forecast period 2024-2030.
Bentonite has various applications in the construction, metallurgy, mining, and refining industries. There are ample of advantages of Bentonite over the minerals such as free flowability and thermal stability, and wide range of applications which are boosting the global market growth at a significant rate. The rapid growth in the construction industry in emerging countries, rise in infrastructural investment from public and private sectors, and rapid urbanization are anticipated to propel the market over the forecast years. Moreover, increase in the use of Bentonite in refining, metallurgy, and pharmaceutical industries also boosted the global market growth.
Study Period
2024-2030Base Year
2023CAGR
6.1%Largest Market
North AmericaFastest Growing Market
Europe
Rapid growth in the construction industry in developed and developing countries, rise in infrastructural investment from public and private sectors, and rapid urbanization are anticipated to propel the Bentonite market over the forecast years. Moreover, increase in the use of Bentonite in refining, metallurgy, and pharmaceutical industries also propel the market over the forecast years.
North America accounted for larger revenue share in global Bentonite market with significant CAGR. Increase in number of end user industries in the region is a major factor anticipated to propel the market in North America region.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 1,526.8 million |
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Market CAGR |
6.1% |
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By Product Type |
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By Application |
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By Region |
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The global bentonite market size was valued at US$ 1,526.8 million in 2023 and is projected to grow at a CAGR of 6.1% from 2024 to 2030.
AMCOL International (US, Wyo-Ben Inc (US), MidPoint Chemicals Company (US), M-I SWACO (US), Volclay International (US), Kemira (Finland)
The fastest-growing segment of the global bentonite market is Sodium Bentonite due to its high demand in the market.
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.