Bentonite Market Size, Share & Trends Analysis Report By Product (Sodium, Calcium), By Application (Foundry Sands, Iron Ore Pelletizing, Pet Litter, Drilling Mud, Civil Engineering, Refining), By Region, And Segment Forecasts, 2018 - 2024

Industry Insights

The global bentonite market size was valued at USD 1.27 billion in 2015 and is expected to witness growth at a CAGR of 4.8% over the forecast period on account of its increasing use in oil well cement and drilling fluid applications. Bentonite clay is generated from the alteration of volcanic ash and is primarily used to grease the cutting head, remove drill cuttings and to close borehole walls. Increasing product use across industries as groundwater barriers, absorbents for pet litter and oil & grease, liquor clarifiers, and binders in iron & steel manufacturing is anticipated to propel industry growth over the next eight years.

U.S. market volume, by application, 2013 - 2024, (Kilo Tons)

Drilling mud is the largest application segment. However, it is expected to lose share over the next eight years on account of increasing application scope of the product in other applications such as foundry sands and iron ore pelletizing. Rising use of iron ore pellets in the manufacturing of steel is expected to have a positive impact on the product market over the forecast period.

The rising demand from end-use applications such as cleansers in pharmaceuticals and rubber tires in the automotive industry will drive the market over the forecast period. However, stringent regulations such as the Safe Drinking Water Act enacted by the U.S. on chemical additives that are used with bentonite in drilling mud is expected to restrain product demand.

Growing product popularity among end-user industries such as cosmetics, food, and automotive on account of its superior binding ability is anticipated to generate open new market avenues for the product over the next eight years.

Application insights

Foundry sands were the largest application segment accounting for over 35% of global volume in 2015. There is an increase in demand for bentonite in foundry molds for the metal casting of brake drums, engine blocks, manhole covers, brass water fittings, transmission housing, and cast iron pans. Also, the product helps in maintaining the mechanical shape of a mold by making the surface impermeable. The aforementioned factors are expected to positively impact the market over the forecast period.

Product demand in refining was estimated at over USD 55 million in 2015. Bentonite having low iron content is found to be good catalytic agents in the petroleum refining process. In comparison to plastic clay, bentonite can absorb higher amounts of water, thus helping in the grouting of wells, dams, and drilling muds.

Product insights

The global bentonite market has been segmented by products into sodium, calcium, and others such as aluminum and potassium. Calcium and sodium bentonite are both widely employed in drilling mud. The global sodium bentonite accounted for over 60% of the total revenue in 2015. It is an effective sealant owing to its chemical-proof sealing capacity which makes it permanent, easy to install, and inexpensive.

Global bentonite market volume, by product, 2015

Calcium bentonite accounted for over USD 350 million of the total market in 2015. Rising use of the product as an adsorbent of ions in oils, fats & other chemical solutions is expected to further drive the industry over the next eight years.

Regional insights

The U.S. dominated the North America bentonite market accounting for over 80% of the revenue in 2015 on account of large scale exploration and drilling activities in the country. Owing to stringent regulations in the region, North America is expected to lose share to Latin America and Asia Pacific over the next eight years.

Asia Pacific demand was estimated at over 6,000 kilo tons in 2015. Growing need from construction, metallurgy, and oil & gas industries is likely to drive the product demand in the region over the forecast period.

Bentonite Market Share Insight

Key players in the market include M-I SWACO, Wyo-Ben Inc, AMCOL International, Volclay International, MidPoint Chemicals Company, Kemira, Amsyn Inc, Cimbar, and Charles B. Chrystal Co. Inc.

In April 2015, Wyo-Ben Inc. acquired Sharewell HDD Drilling Products Thunderstorm’s line of cleaning and mud mixing system in Texas, the U.S. to meet the growing demand of consumers. In July 2014, Cimbar Performance Materials Inc. expanded the company to become one of the leading barium suppliers in the North America.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the latest trends and opportunities in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the bentonite market on the basis of product, application, and region:

• Product Type Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)

  • Sodium

  • Calcium

  • Others

• Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)

  • Foundry sands

  • Iron ore pelletizing

  • Cat litter

  • Drilling mud

  • Civil Engineering

  • Refining

  • Others

• Regional Outlook (Volume, Kilo Tons, Revenue, USD Million, 2013 - 2024)

  • North America

    • The U.S.

  • Europe

    • Germany

    • Russia

  • Asia Pacific

    • China

    • India

  • Latin America

    • Brazil

    • MEA

  • UAE