Global attapulgite market has been witnessing substantial growth over the past few years on account of increasing demand from oil & gas industry. Growing demand for paints & coatings owing to increasing construction activities in emerging economies including India and China is likely to augment attapulgite market growth over the next six years. In addition, attapulgite is largely employed as cat litter absorbent which is expected to propel its market growth. Increasing application scope of attapulgite in medical & pharmaceuticals and agricultural sectors is likely to open new opportunities for attapulgite in near future.
Based on the product type attapulgite market is segmented into colloidal grade and sorptive grade. End-use applications of attapulgite include cat litter absorbent, oil & gas, paints & coating, medical & pharmaceuticals, agricultural and niche applications including paper, chemical and cosmetics. Attapulgite is largely employed as a cat litter absorbent and was the largest application segment for attapulgite over the last few years. Oil & gas industry was the second largest application segment for attapulgite market on account of increasing demand for offshore oil and gas drilling activities in North America. In addition, use of attapulgite in the agriculture and healthcare sector is anticipated to further propel its demand. Rising construction activities in emerging countries as part of the infrastructure development plan is anticipated to result in increasing demand for paintings & coatings. This in turn is likely to boost attapulgite growth in construction sector. Additionally, niche application of attapulgite in paper, chemical and cosmetics industries is likely to augment global market growth substantially over the next 6 years.
North America was the largest market for attapulgite and the trend is anticipated to continue over the forecast period on account of increasing demand from end-use industries. Asia Pacific was the second largest market for attapulgite and is likely to witness above average growth on account of rapid industrialization and increasing end-use industries in this region. Moreover, Europe projected significant growth on account of growing demand from oil & gas industries.
Key players in attapulgite market include Active Minerals Internationals LLC, MinTech International, Inc., BASF, Gujarat Minechem, Gunjans Minerals Pvt. Ltd., Oil- Dri Corporation of America and Geohellas S.A.
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