Bentonite Market 2016 Share, Trend, Segmentation and Forecast to 2024 Bentonite Market - Global Industry Analysis, Size,

Bentonite Market - Global Industry Analysis,
Size, Share, Growth, Trends, and Forecast 2016
- 2024
Global Bentonite Market: Snapshot
The significant growth in the foundry and metal casting industries has had the most
significant influence on the global market for bentonite. The rise in the automotive
and the machinery and heavy equipment manufacturing industries has been
boosting the demand for foundry and metal casting applications across the world.
As bentonite is extensively utilized in these applications, a subsequent increase in
its demand has been observed since the past few years, reflecting greatly on the
progress of this market.
The global market for bentonite offered an opportunity worth US$1.42 bn in 2015.
Researchers anticipate it to rise at a CAGR of 3.0% from 2016 to 2024 and reach a
value of US$1.85 bn by the end of 2024.
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Demand for Sodium Bentonite to Remain High
Sodium bentonite and calcium bentonite are the main two product types available
in the global bentonite market. The market was led by sodium bentonite in 2015
with a share of more than 60%. The scenario is anticipated to remain so over the
forthcoming years, thanks to the increasing preference for green sand casting
process in the foundry.
Drilling mud, iron ore pelletizing, foundry sands, pet products, construction, paper,
cosmetics, and pharmaceuticals are the prime application area of bentonite across
the world. The demand for bentonite is higher in foundry sands that other
application segments. In 2015, it held a share of 20% of the overall demand for
bentonite, globally.
Analysts project the segment to continue its dominance over the next few years due
to the continual growth in the automotive and the machinery industries. The pet
product segment, which includes cat litter and cattle feed, is another key
application segment of the global bentonite market. This segment is estimated to
witness a moderate increase over the next few years.
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