Bentonite Market growth is driven by increasing demand for pet litter products up to 2024

Bentonite Market growth will be driven by rising product demand for iron pelletizing operations in the steel industry.

Sellbyville, United States - October 17, 2019 /MarketersMedia/ —

Bentonite Market growth will be stimulated by increasing pet ownership in Germany, UK and France on account of reducing community involvement and the breakdown of conventional social support systems has led to rising demand for pet litter products. Moreover, the product eliminates undesirable odors by allowing regular removal of urine & feces along with providing cost-efficiency as compared to its conventional clay litter counterparts owing to its longer shelf life which may further boost bentonite market growth.

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Endowed with a vast application landscape comprising manufacturing, pharmaceutical, cosmetics, construction, and paper industries, bentonite market has indeed been experiencing a remarkable growth rate. The surging deployment of environmental reforms to control the use of hazardous raw materials in the aforementioned industrial sectors has also been endorsing the use of bentonite clay on a large scale. In the manufacturing sector, the popularity of green sand molding for meeting the future requirement of new-generation foundries has been depicting quite some growth, further propelling bentonite market share.

Elaborating on the numerous unique properties of bentonite, it is used to improve thermal resistance, increase drop strength, impart structural stability to iron pellets. Owing to these excellent features, the uptake of bentonite has increased in the steel mills. Moreover, bentonite increases the productivity of sponge iron with less amount of energy. Here, it is quite imperative to mention that steel companies have been feeding the output to iron palletization plants to make the ore usable in steel manufacturing – a factor that has undoubtedly provided immense business opportunities for the players operating in the global bentonite market.

Bentonite Market growth will be driven by rising product demand for iron pelletizing operations in the steel industry. The upgradation of iron ore to improve iron content results in the generation of iron ore filter which requires pelletizing if it is to be used in steel manufacturing operations. The product acts as a binder by imparting high strength to roasted & dry pellets thereby ensuring their safe transportation, which may stimulate product demand.

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Europe sodium Bentonite Market demand from foundry sands applications led by UK, Germany, France and Spain may surpass USD 50 million in the forecasted period. This product possess high swell capacities & viscosity thereby making it ideal for green sand formulations used in iron & steel casting industry. The product serves as the glue which holds various particles of foundry sand together and provides high strength in less preparation time which may promote growth of bentonite market.

North America led by the Mexico, Canada, and the U.S. calcium bentonite market may witness gains of about 5% by 2024. This product offers healing, detoxifying and curative properties which increases its suitability for cosmetics and natural healthcare products. It enhances the immune system and reduces the possibility of infections by eliminating toxins which may enter the body via unhealthy food, paints and pesticides, thereby creating growth opportunities for bentonite market.

Driven by rising infrastructural growth, escalation in automotive manufacturing, and increasing activities of oil and gas drilling, the overall commercialization scale of bentonite industry is expected to exceed USD 1.95 billion by 2024. MIDPOINT Chemicals, Wyo-Ben, Halliburton, Black Hills Bentonite, CETCO, Delmon Group of Companies, and Mineral Technologies are the prominent companies spearheading the global bentonite market.

Major Point From Table Of Content:

Chapter 3 Bentonite Industry Insights

3.1 Industry segmentation

3.2 Industry landscape, 2013-2024

3.3 Industry ecosystem analysis

3.3.1 Vendor matrix

3.3.2 Distribution channel analysis

3.3.2.1 Collaboration/partnerships

3.3.2.2 Distributors

3.4 Raw material analysis

3.5 Regulatory landscape

3.5.1 North America

3.5.2 Europe

3.6 Technology landscape

3.7 Pricing analysis

3.7.1 Sodium bentonite

3.7.2 Calcium bentonite

3.7.3 Sulphur bentonite

3.7.4 Other bentonite

3.8 Industry impact forces

3.8.1 Growth drivers

3.8.1.1 North America: Growing demand from the drilling industry

3.8.1.2 Europe: increasing pet litter applications demand

3.8.1.3 Asia Pacific

3.8.1.3.1 Rising iron ore pellets demand in the steel industry

3.8.1.3.2 High demand for bentonite from construction sector

3.8.2 Industry pitfalls & challenges

3.8.2.1 Increasing awareness of adverse environmental impacts

3.9 Growth potential analysis, 2017

3.9.1 Emerging business model

3.9.1.1 Joint Venture

3.9.1.2 Acquisition

3.10 Porter’s analysis

3.11 Competitive landscape, 2017

3.11.1 Strategy dashboard

3.12 PESTEL analysis

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