Pune, India -- (SBWire) -- 04/08/2019 --Our latest research report entitled Bentonite Market (by-product (sodium, calcium, sulphur), applications (foundry sands, pet litter, iron ore pelletizing, drilling)) Global Industry Analysis, Trends, Size, Share and Forecasts to 2024 provides complete and deep insights into the market dynamics and growth of bentonite. Latest information on market risks, industry chain structure bentonite cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential bentonite growth factors.
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The forecast bentonite market information is based on the present market situation, growth opportunities, development factors, and opinion of the industry experts. An in-depth analysis of the company profiles, bentonite on a global and regional level and applications is conducted. The analysis of downstream buyers, sales channel, raw materials, and industry verticals is offered in this report. the global bentonite market is projected to grow at a CAGR of 5.1% over the forecast period of 2018-2024.
Bentonite Market: Industry Insights
Bentonite is a lump of clay which has the capability to absorb the huge amount of water and to enlarge to numerous times from its normal volume which is formed by decomposition of volcanic ash. Bentonite is used as a sealing agent or as a filler. Bentonite is produced in quarries further processed and dried off. They are also used for lubricating the tunnel walls and decreasing wear which make easier for pipes to be installed. After usage, these drilling fluids can be cleaned and recycled to minimize expensive cost and waste.
Bentonite Market: Drivers and Restraints
Rising numbers of construction industries owing to the growth factor for the global bentonite market. Increasing usage of bentonite as filler in the pharmaceutical industries is also a driving factor for the global bentonite market. Growing urbanization and development in the method of infrastructure owing the growth for the global bentonite market. Stringent government regulation for the safety of drinking water may hamper the growth of the bentonite market in developing countries.
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Bentonite Market: Segmentation
Bentonite Market is segmented on the basis of product type and applications. By product type, the market is segmented into Sodium, Calcium, Sulphur, and Other product types. Sodium Bentonite accounted for the largest share in the global bentonite market in 2018. Mostly used for drilling mud is the driving factor for the growth of this segment. Based on application, the global Bentonite market has bifurcated into Foundry Sands, Pet Litter, Iron Ore Pelletizing and Drilling. Foundry sand segment is expected to contribute the highest share to the bentonite market.
Bentonite Market: Regional Insights
Asia-Pacific is the most dynamic, highly competitive and the largest market for Bentonite globally. The major driving factor, which has driven the growth of the Bentonite market in this region, is the rising numbers of metal industries and growing demand for the bentonite for drilling mud in the Asia-Pacific region. Growth in the region is mainly backend by India, China, and Japan. European Bentonite market had been the most dynamic region in 2018. Europe is expected to grow at a steady rate within the forecast period. North America region remains bright, and the industry is projected to grow at the highest CAGR during 2018-2024. ROW also shows a steady rise in the market in which the Middle East is holding the highest market share.
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Bentonite Market: Competitive Analysis
The global Bentonite market is highly competitive. The prominent players in the global Bentonite market are Minerals Technologies Inc., Clariant, IMERYS Group, Bentonite Performance Minerals LLC, Ashapura Group, Wyo-Ben Inc, Delmon Group of Companies and Black Hills Bentonite. Product innovation and acquisitions & mergers are the key parameters to remain competitive and to gain greater market share.
