Bentonite Market To Reach $3.65 Billion By 2030 | CAGR: 6.2%

Bentonite Market Growth & Trends

The global bentonite market size is expected to reach USD 3.65 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.2% from 2024 to 2030. The expansion is propelled by a surge in industrial applications across various sectors. A notable catalyst of escalating demand for bentonite, which is pivotal in construction activities on a global scale.

Furthermore, it is expected that bentonite production in India will accelerate in foreseeable future, driven by an increasing demand for oil clarification processes. Bentonite's pivotal role in civil engineering and environmental sectors, serving as a crucial sealant and adhesive, underscores significant growth prospects for bentonite sales within the Indian market.

Cat litter market is experiencing growing demand driven by increasing pet ownership rates globally and rising awareness about pet hygiene. Sodium bentonite is a key component in clumping cat litter due to its excellent absorbency and odor-control properties. As consumers prioritize convenience and effectiveness in pet care products, bentonite-based cat litters have become preferred for their ability to form tight clumps that simplify cleaning and extend lifespan of litter boxes. This trend has significantly boosted bentonite industry, driving demand for high-quality sodium bentonite used in manufacturing cat litter products globally.

Europe dominated the revenue share in 2023 and is anticipated to continue over the forecast period from 2024-2030. According to CAEF - The European Foundry Association, Europe contributes around 12% to global casting production with 6,000 operational metal casting facilities. A significant share of Europe in the casting industry propels consumption of foundry sands and, thus, bentonite market.

Globally, leading manufacturers are strategizing to enhance their market share through introduction of innovative applications within their bentonite product portfolios. Concurrently, key industry players are joining forces with academic institutions to spearhead innovation in new applications through R&D initiatives. Furthermore, various manufacturers are making strategic entries into the market by acquiring local players, thereby globalizing and diversifying their product portfolios.

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Bentonite Market Report Highlights

• In terms of revenue, calcium bentonite segment is projected to register the fastest CAGR from 2024 to 2030 owing to it being a popular ingredient in cosmetics sector such as skincare products. Unique characteristics of this product segment establish a protective barrier between your skin and potential irritants, ensuring adherence to skin and enhanced water resistance

• Foundry sands was the largest application segment, with a revenue share of over 23.0% in 2023, owing to investments in high demand for casting industry from end use industries in Asia Pacific. Use of aluminum and stainless-steel cast products in aerospace & defense, healthcare, machinery, and telecom industries is likely to positively influence market growth, later benefitting bentonite market

• North America was a key regional market in 2023 in terms of both volume and revenue owing to presence of the U.S., which is a major producer and consumer of bentonite in drilling mud, cat litter, and foundry sands

• Market players can improve their market offerings and focus on improving their production capacities across countries and strengthen their regional presence. High energy consumption within the manufacturing process presents a significant challenge, typically addressed through economies of scale, which in turn notably impacts bentonite pricing

Bentonite Market Segmentation

Grand View Research has segmented the global bentonite market on the basis of product, application, and region:

Bentonite Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Sodium Bentonite

• Calcium Bentonite

• Others

Bentonite Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Foundry Sands

• Iron Ore Pelletizing

• Cat Litter

• Drilling Mud

• Civil Engineering

• Refining

• Others

Bentonite Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • Italy

  • Russia

  • Turkey

• Asia Pacific

  • China

  • India

  • Japan

• Central & South America

  • Brazil

• Middle East & Africa

  • UAE

  • Saudi Arabia

  • South Africa

List of Key Players of Bentonite Market

• Ashapura Group

• Bentonite Performance Minerals LLC.

• Black Hills Bentonite, LLC

• Cimbar Performance Minerals Inc.

• Clariant AG

• Imerys

• Kunimine Industries Co. Ltd

• Minerals Technologies Inc.

• Pacific Bentonite Ltd.

• Wyo-Ben Inc.