What Fueled The Previous Growth In The Bentonite Market?
The bentonite market has seen considerable growth due to a variety of factors.
• In recent years, there has been a significant expansion of the bentonite market. The market value, which sat at $10.05 billion in 2024, is expected to rise to $11.44 billion in 2025, with a compound annual growth rate (CAGR) of 13.9%.
This surge during the historic period can be associated with factors such as the enlargement of the foundry and metal casting industry, the broad application in civil engineering and construction, expansion in oil and gas well drilling, and a range of agricultural and environmental applications. In addition, the paper and pulp industry's utilization of bentonite and its widespread use in drilling fluids have also contributed to this growth.
How Does the Forecast Look for the Bentonite Market?
The bentonite market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the bentonite market is forecasted to experience a significant expansion. By 2029, it is predicted to reach $17.12 billion, with a compound annual growth rate (CAGR) of 10.6%.
The predicted growth during this period can be linked to factors such as the advancement of infrastructure within developing markets, higher usage in the foundry sector, increased demand for pelletized fertilizers, innovations in geosynthetic clay liners, and the augmentation in the utilization in water treatment applications. Key trends on the horizon for this period include the discovery of new drilling fluid formulations, a shift towards environmentally friendly bentonite mining measures, the emergence of bentonite-based nanocomposites, growing use in the energy storage sector, and the digitization of supply chains and logistics.
What Are The Leading Drivers Of Growth In The Bentonite Market?
The Bentonite market is experiencing growth due to increased sales in fast-developing countries like China and India. This is attributed to a rise in disposable income, and a growing demand for, and access to credit. Disposable income is defined as the funds an individual or household has available for spending or saving after accounting for income taxes. Bentonite finds its application in industries such as chemical, rubber, insecticides & pesticides, and civil construction. For example, the Office of National Statistics, a UK-based statistics executive office, revealed in a 2023 article that disposable income inequality rose to 35.5% in the financial year ending (FYE) 2022, up from 34.4% in FYE 2021. Consequently, the increasing disposable income is fueling growth in the Bentonite market.
How Are The Segments Defined Within The Global Bentonite Market?
The bentonite market covered in this report is segmented –
1) By Type: Sodium, Calcium, and Other Types - Bentonite
2) By Mining Type: Underground Mining, Surface Mining
Subsegments:
1) By Sodium Bentonite: Gel-Type Sodium Bentonite, Granular Sodium Bentonite, Powdered Sodium Bentonite
2) By Calcium Bentonite: Gel-Type Calcium Bentonite, Granular Calcium Bentonite, Powdered Calcium Bentonite
3) By Other Types - Bentonite: Potassium Bentonite, Magnesium Bentonite, Activated Bentonite, Organophilic Bentonite
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Who Are the Key Players In The Bentonite Market?
Major companies operating in the bentonite market include:
• Wyo-Ben Inc.
• Huawei Bentonite
• American Colloid Company
• Ashapura Group of Companies
• Cimbar Performance Minerals
• Minerals Technologies Inc.
• Imerys S.A.
• Clariant International Ltd.
• Bentonite Performance Minerals LLC
• Çanbensan Bentonite
• NCC AB
• Black Hills Bentonite
• Kemira OYJ
• Charles B Chrystal Co. Inc.
• Alfa Aesar
• Kutch Minerals
• Kunimine Industries Co. Ltd.
• MidPoint Chemicals Company
• Amsyn Inc.
• Atharv Chemicals and Fertilizers Pvt Ltd
• Triveni Chemicals
• Kalpana Chemicals
• Neelkanth Finechem LLP
• Vitrag Chemicals Pvt Ltd
• Fenghong New Material Co. Ltd.
• Taiko Group
What Is The Most Dominant Region In The Bentonite Market?
Asia-Pacific was the largest region in the bentonite market in 2024. The regions covered in the bentonite market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa.
