GlobalBentonite Market: Overview
WithMinerals Technologies Inc., Clariant AG, Imerys SA, and Ashapura Groupacquiring the lead, the global bentonite market is demonstrating a consolidatedvendor landscape, finds a new research report by Transparency Market Research(TMR). In 2015, these players held more than 3/4th of the overall market and thescenario is expected to remain more or less the same over the next few years.As of now, the leading players are emphasizing on the expanding theirmanufacturing capacity on account of the soaring demand for bentonite acrossthe world. Since the demand is slowly inclining towards being greater than thesupply, the market is likely to witnesses a high degree of competition in thenear future and vendors are expected to involve more into strategicpartnerships to sustain in this environment, states the market study.
As per thereport’s estimations, the global bentonitemarket was worth US$1.42 bn in 2015. Increasing at a CAGRof 3.0% during the period from 2016 to 2024, the market’s opportunity isexpected to reach US$1.85 bn by the end of the forecast period. Among all theproducts available in this market, sodium bentonite reports the most prominentdemand. Research analysts at TMR anticipate this trend to remain so in theyears to come, thanks to the increasing uptake of green sand casting process inthe foundry.
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Risein Construction Industry to Boost Demand for Bentonite
“The globalbentonite market is mainly influenced by the ongoing expansion in theconstruction industry,” says a research analyst at TMR. The increasing demand forsmart infrastructure, coupled with rising expenditure in infrastructuraldevelopment, has boosted the construction industry across the world, which inturn, is reflecting greatly on the sales of bentonite, as it is one of theimportant components used in the construction of a structure.
Withcontinual urbanization, the demand for bentonite is anticipated to increasesubstantially in the near future, leading to a high growth of this market.However, the sluggish growth rate of the oil and gas industry and the decliningdemand for IOP grade bentonite in China may hamper the bentonitemarket progress over the next few years. Nonetheless, the surge in thecosmetics and personal care industry and the persistent demand for iron castingfrom the heavy equipment manufacturing and the automotive industries areprojected to boost bentonite market significantly in the years to come,states the research report.
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Asia Pacific to Remain Dominant
Ageographical assessment of the global bentonite market has also been presentedin this market study. North America, the Middle East and Africa, Asia Pacific,Latin America, and Europe have been considered as the key regional markets forbentonite in this study. Among these, Asia Pacific has surfaced as the leadingcontributor to this market and is projected to remain on the top over theperiod of the forecast. The Asia Pacific bentonite market held 30% of theoverall market in 2015, notes the research study.
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