Bentonite Market Size, Share, Growth, Trends, and Global Industry Analysis: By Product Type (Sodium Bentonite, Calcium Bentonite, Sulphur Bentonite, Others), By Application (Foundry Sands, Cat Litter, Construction, Iron Ore Pelletizing, Drilling Mud, Refining, Others), 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.