Rising energy demand leading to large drilling activities is likely to propel bentonite market
- Himanshu Patni
- December 3, 2021
- CHEMICAL, NEWS
- Bentonite Market, Bentonite Market growth, Bentonite Market share, Bentonite Market size, Bentonite Market trends
- 0 Comments
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). Demand of bentonite is increasing owing to increasing demand of clays which have ability to swell up easily, absorb water and have high viscous and thixotropic properties. These properties helped bentonite in attaining application in large base of industries like cosmeceutical, construction, iron ore pelleting, refining, oil & gas which expanded the bentonite market. In addition, high focus towards infrastructural growth in countries such as Brazil, Argentina, India, and China due to rising public expenditure is projected to boost the construction industry which further propel the demand of bentonite. For instance, bentonite in civil engineering applications is used as a mineral hydraulic barrier in diaphragm walls, foundations, tunneling, and pipe jacking. Its viscosity and plasticity also make it suitable for use in portland cement and mortars.
For a detailed analysis of the market drivers browse through – https://univdatos.com/report/bentonite-market/
Linear increase in the demand of oil and gas across the world due to ongoing and previous advancements in the transportation, automobile and industrial sector. Drilling fluid used while drilling an oil and gas well majorly consists of bentonite along with several drilling fluid additives. Rising demand of oil and gas would result in increased drilling activities thereby escalating the demand of bentonite. For instance, global oil production increased to 4,478 million tons (MT) in 2019, compared to 4,227 MT in 2014. However, in light of Covid-19 after nine consecutive years of increase, global consumption of crude oil observed a decline of around 9 million barrels per day (BPD) in 2020, resulted in the consumption of 88.5 million BPD.
Covid-19 has adversely affected the demand for bentonite. Shut down of manufacturing units led less fuel requirements. Further lockdown to prevent the spread of Covid-19 resulted in the decreased demand of oil & gas from transportation sector as well. This led to less drilling operation therefore reduced demand for bentonite.
For a detailed analysis of the Covid-19 Impact on the Market browse through – https://univdatos.com/report/bentonite-market/
Based on product, the bentonite market is segmented into sodium, calcium, and others. Among these, sodium bentonite is likely to witness a prominent market share. Growing construction activities in developing countries like China, India, Brazil, Argentina, and Mexico among others is one of the major reason to fuel the demand of bentonite. Sodium bentonite is a natural sealant is used for sealing stock & recreational ponds, city landfills, and dairy & sewage lagoons. It is highly effective in controlling dust on roads & highways.
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. With increasing global demand of oil & gas which is extensively used in industries and vehicles resulted in the depletion of easily accessible reservoirs therefore companies operating in the market are focusing on shale and tight oil & gas reservoirs. Since bentonite has high swelling properties, good viscosity and liquid limit and acts as a suspending agent therefore it is widely used in the oil & gas drilling for shale production. Furthermore, sodium bentonite is well suited as a binder in the preparation of pellets and in foundry.
Request for Sample of the report browse through – https://univdatos.com/get-a-free-sample-form-php/?product_id=11922
Additionally, the report provides detailed initiatives that are being taken in the field of bentonite market. The market is classified into distinct regions including North America, Europe, Asia Pacific, MEA, and South America. North America held considerable market share owing to increasing oil & gas activities and growing adoption of pets including cat.
Global Bentonite Market Segmentation
Market Insight, by Product
Market Insight, by Application
- Cat Litter
- Civil Engineering
- Drilling Mud
- Foundry Mud
- Iron Ore Pelletizing
Market Insight, by Region
- North America
- Asia Pacific
- South America
Top Company Profiles
- 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.