A wide range of end-use industries including construction, water treatment, agriculture, and oil & gas have been major contributors towards the growth of the global bentonite market. Increasing investments in research and development activities by manufacturers further supports the market.
DUBAI, UAE / ACCESSWIRE / April 2, 2020 / The global bentonite market is set to grow at a moderate CAGR of 4.3% during the forecast period (2019-2029), as projected by a new report by Future Market Insights (FMI). Leading market players are working on strategies for aggressive pricing to keep up with a highly competitive market landscape, with increased focus on research and development activities.
'Leading manufacturers in the bentonite industry will develop and introduce new product offerings which cater to different industries to take advantage the versatile nature of bentonite, thereby strengthening their market position,' states the FMI report.
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Bentonite Market: Key Findings
- Construction will remain a major end use sector for bentonite through the forecast period.
- Oil and gas drilling activities will make major gains in growth rate.
- Asia Pacific will account for most gains made in the bentonite market during the forecast period.
- North America will display substantial CAGR for the bentonite market, driven by strong industrial activity.
Bentonite Market: Key Driving Factors
- Rising water treatment applications is a key factor increasing the adoption rate of bentonite, which is a key growth driver for the market.
- Demand from the oil and gas industry is generating highly profitable opportunities for manufacturers.
- Wide ranging applications in paints, dyes, pharmaceuticals, cosmetics, animal feed, and detergents are increasing the adoption rate of bentonite.
- Favorable incentives and initiatives adopted by governments in developing regions, for small and medium enterprises will increase sales.
Bentonite Market - Key Restraints
- Strict regulations applied to the use of bentonite with select chemical materials is a key factor hampering the growth of the bentonite market.
Explore the global bentonite market report with 97 illustrative figures, 23 data tables and the table of contents. You can also find a comprehensive market segmentation on https://www.futuremarketinsights.com/request-special-price/rep-gb-348
Competition Landscape of Bentonite Market
Some of the key players in the global bentonite landscape include, but are not limited to, CIMBAR Performance Minerals, American Colloid Company, Ashapura Group of Companies, Alfa Aesar, Aydin Bentonit, Atlantic Screen & Mfg. Inc., Black Hills Bentonite, Bentonite Company LLC, Bulk Apothecary, BariteWorld, Bentonite Performance Minerals LLC, and Bentonit Uniao. Leading market players remain focused on research and development undertakings. Market leaders are also investing efforts towards maintaining aggressive pricing strategy, to keep up in a competitive and fragmented market landscape. Collaborations with players in the drilling industry in addition to quality an pricing will remain an essential focal point for manufacturers.
More About the Report
This Future Market Insights study of 300 pages offers actionable insights on the bentonite market. The market analysis is based on product type (sodium and calcium), end use application (drilling fluid, binder, sealant, adsorbent/absorbent, and clarification agent), across five regions (Latin America, North America, Europe, Asia Pacific, Middle East & Africa).
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About Future Market Insights (FMI)
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