A comprehensive overview of the global bentonite market is recently added by UnivDatos Market Insights to its humongous database. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the bentonite market in the global context. This report offers a detailed analysis of the latest industry developments and trending factors that are influencing market growth. Furthermore, this statistical market research repository examines and estimates the global bentonite market at the regional & country levels. The Global Bentonite Market was valued around US$ 1.4 billion in 2020 and is anticipated to display a CAGR of ~around 6% over the forecast period (2021-2027).
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Upsurging demand of steel from end user industries like automobile, construction, transportation, energy, and packaging would result to rise in demand of iron ore pellets which are used in manufacturing of steel. Further, sodium-activated calcium bentonite is used as a binder in iron ore pellets and is known to increase strength of both wet and dry iron ore green pellets. Owning to increased demand of iron ore from steel industry would result to higher demand of bentonite for iron ore pelletizing thereby helping the market grow at a considerable rate.
For instance, global production of crude steel in 2018 was 1,825,486 thousand tons which grew to 1,875,155 thousand tons in 2019. As per, The World Steel Association forecasts that steel (apparent steel) demand will grow by 5.8% in 2021 to reach 1.874 billion metric tons, after declining by just 0.2% in 2020, as the overall impact of the coronavirus pandemic on the sector turned out to be less than previously foreseen.
During the Covid-19 pandemic in the early 2020, majority of the countries and region witnessed a country wide lockdown. This has impacted the overall demand for oil and gas. According to U.S. Energy Information Administration, globally a decline of almost 9% in the overall demand of oil and gas was witnessed in 2020 for the first time since the global recession of 2009. Majority of decline was witnessed in the industrial sector, where countries had imposed shut down of manufacturing facilities to reduce the spread of Covid-19.
Global bentonite market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Product, the market is primarily categorized into:
Based on product, the bentonite market is segmented into sodium, calcium, and others. Among these, sodium bentonite is likely to showcase substantial growth during the forecast period. Increasing adoption and ownership of cats in developed nations like U.S. and European countries would increase the demand of sodium bentonite owing to its pet litter applications. For instance, around 42.7 million US households owns Cat as per the 2019-2020 National Pet Owners Survey conducted by the American Pet Products Association.
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By Application, the market is primarily studied into:
· Cat Litter
· Civil Engineering
· Drilling Mud
· Foundry Mud
· Iron Ore Pelletizing
Based on application, the bentonite market is divided into cat litter, civil engineering, drilling mud, foundry sands, iron ore pelletizing, refining, and others. Among them, iron ore pelletizing and drilling mud hold a considerable market share. Bentonite exhibits good strength along with high hot and dry strength which helps in preventing molds from breaking or cracking during the pouring or cooling process in the foundry industry. Owing to high strength resulting from its property to absorb and then release moisture, bentonite is used in iron ore palletization.
Global Bentonite Market Region Segmentation Includes:
· North America
· Asia Pacific
· South America
Based on the estimation, North America accounted for considerable market position in the market in 2020 and is expected to demonstrate significant growth during the forecast period (2021-2027). Large and increasing oil & gas activities resulted in the increasing demand of bentonite in the region.
The major players operating in the market includes:
· Bentonite Mineral Performance LLC
· Black Hills Bentonite LLC
· Minerals Technologies Inc.
· Imerys S.A.
· Wyo-Ben Inc.
· Tolsa S.A.
· Laviosa Mineral Solutions SpA
· G & W Mineral Resources
· Ningcheng Tianyu Chemical Co. Ltd.
· Kunimine Industries Co. Ltd.
The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating in the Global context. The specialist team of research analysts sheds light on various traits such as Global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Global Bentonite Market. The major players have been analyzed using different research methodologies for getting insight views on market competition.
Key questions resolved through this analytical market research report include:
· What are the latest trends, new patterns, and technological advancements in the global bentonite market?
· Which factors are influencing the global bentonite market over the forecast period?
· What are the global challenges, threats, and risks in the global bentonite market?
· Which factors are propelling and restraining the global bentonite market?
· What are the demanding global regions of the bentonite market?
· What will be the market size in the upcoming years?
· What are the crucial market acquisition strategies and policies applied by the companies?
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Table Of Content:
1. MARKET INTRODUCTION
2. RESEARCH METHODOLOGY OR ASSUMPTION
3. MARKET SYNOPSIS
4. EXECUTIVE SUMMARY
5. GLOBAL BENTONITE MARKET COVID-19 IMPACT
6. GLOBAL BENTONITE MARKET REVENUE (USD BN), 2019-2027F
7. MARKET INSIGHTS BY PRODUCT
8. MARKET INSIGHTS BY APPLICATION
9. MARKET INSIGHTS BY REGION
10. BENTONITE MARKET DYNAMICS
11. BENTONITE MARKET OPPORTUNITIES
12. BENTONITE MARKET TRENDS
13. LEGAL & REGULATORY FRAMEWORK
14. DEMAND AND SUPPLY SIDE ANALYSIS
15. VALUE CHAIN ANALYSIS
16. COMPETITIVE SCENARIO
17. COMPANY PROFILED
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