The worldwide bentonite market in 2015 was estimated at USD 1,27 billion. Due to its increased usage in oil well cement and drilling of liquid applications, CAGR is likely to expand by 4.8% during the projected period. Bentonite clay is produced by volcanic ash modification and is generally used to grate the cutter head, eliminate boiling and seal boiling walls. Bentonite clay growing products are expected to push the expansion of the sector over the next eight years in all industries such as underwater barriers, pet litter and oil & grate absorption, liquor clarifications and binders in the fabrication of iron and steel.
The main segment of application is drilling mud. Due to the increase in application of the product in other applications, such as foundry sands and iron ore gritting, it is anticipated that this share will decrease during the coming eight years. Increased usage of iron ore pellets in steel manufacture throughout the forecast period is likely to have a favorable influence on the product market. The growing demand from end-use applications, such as pharmaceutical cleaners and automotive rubber pipes, will drive the market over the predicted period. Strict rules like the US Safe Drinking Water Act, however, are projected to restrict product demand with chemical additives employed with bentonite in boiling sludge.
During the next 8 years it is expected that there will be increased popularity of the product for end users, such as cosmetics, food and automotive, due to its higher binding ability.
The main application sector was foundry sands, which accounted for almost 35% of global volume in 2015. In the functioning of casting metal brake drums, engine blocks, manholes, brass water supplies, transmission housing, and cast iron cups, the necessity for bentonite increases. The product also helps to retain the mechanical form of a mold through the impermeability of the surface. During the projected period, the above stated factors should have a favorable influence on the bentonite market.
In 2015, the refining product demand was forecasted to exceed USD 55 million. In petroleum refining, bentonite with low iron concentration has shown to be a useful catalytic agent. Bentonite may absorb larger levels of water in contrast to plastic clay and so aid to grout wells, dams and boil mud.
