Montmorillonite Clay Market Report Overview
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The global montmorillonite clay market size is anticipated to be USD 1.3454 billion in 2022 and is projected to touch USD 1.6065 billion by 2028, at a CAGR of 3.0% during the forecast period.
The montmorillonite clay has been extracted and used commercially used from the ancient age. As the world progresses, the application has increased with the efficiency of the product.
The market dynamics are changing constantly. The new efficient products are rapidly replacing the existing materials. The market is growing in leaps and bounds as industrialization is in full swing. The montmorillonite clay market is all set to grow at a faster rate due to its application in various high-growth end-user industries.
COVID-19 Impact: The Downfall of the End-user Industry to Impede the Market Demand
The global COVID-19 pandemic has been unprecedented and staggering, with the montmorillonite clay market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.
COVID-19 had a great impact on the major economy of the world. The end-user industry saw a dip in the market trends as the priority was shifted to restructuring the health care units. Consumer buying behaviours were affected as the economy was at an all-time low. The frequent lockdowns and the lack of availability of skilled labour have affected production and created an imbalance in the market. However, as the normalization phase is in full swing the market is tended to return to its former self.
LATEST TRENDS
"Increasing Application in Pharmaceutical Industry to Boost the Market Demand"
The pharmaceutical sector is rapidly adopting the use of montmorillonite clay. The product is widely used in the preparation of particular creams and powders, face packs, therapeutic mud and ant irritants for eczema etc. The cosmetic industry has witnessed high growth owing to the raised living standards of the people. The research and development and innovative experiments to increase the efficiency of the product are to be adopted across many industries in the forecasted year.
Montmorillonite Clay Market Segmentation
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- By Type Analysis
According to type, the market can be segmented into sodium bentonite and calcium bentonite. Sodium bentonite is expected to lead this segment in the forecasted year.
- By Application Analysis
Based on application, the market can be divided into moulding sands, iron ore pelletizing, pet litter, drilling mud, civil engineering, agriculture and others. The moulding sands are anticipated to lead this segment.
DRIVING FACTORS
"Rising Oil and Drilling Activities and Booming Chemical Industry to Accelerate the Product Sale"
The oil and natural gas demands are escalating worldwide and simultaneously the drilling activities are increasing owing to government investments to meet the market demands. The international political tension has compelled the nations to fill up the oil storage. The montmorillonite clays form the basic constituent of the drilling mud. It helps to control the viscosity and in the prevention of drilling fluid filtration. Montmorillonite clay when mixed with water produces a fluid that has several important features and plays a crucial role in the drilling mud.
The foundry sands sector is occupying the montmorillonite clay market share. The application of montmorillonite is rapidly increasing in this sector. They are used as a binder for casting metal shapes. It adds strength and important characteristics to the sand. Furthermore, the chemical industry accounts for the vast popularity of montmorillonite clay across industries. Activated montmorillonite is utilized as a catalyst for various chemical reactions. In light of recent industrial practices, activated montmorillonite clay is used in the alkylation of phenols. The chemical industry is witnessing a surge and with the thrust for development the montmorillonite clay market share is anticipated to reach new heights in the upcoming years.
"Booming End-User Market to Propel the ""Montmorillonite Clay"" Market ""Demand"
The rapid industrialization and high-scale investments accompanied by consistent innovations have led to the uprising of the end-user industry. The high growth trajectory of the end-user market will influence the montmorillonite clay market size. The application base of the montmorillonite clay has been broadened. Besides its uses in the oil and foundry market, it is extensively used in sugar refining, polishes, paints and emulsion and civil engineering. The property of montmorillonite clay is highly considered for binding and bleaching. In general, the disposable income of the people increased which indicates a high growth of industries. All these factors combined indicate a high montmorillonite clay market growth in the forthcoming year.
RESTRAINING FACTORS
"Rising Environmental Concerns and Stringent Regulations to Hamper the Market Growth"
Industries across the world are being held guilty of the non-judicious use of energy resources. The ongoing depletion has left the globe vulnerable to climate changes affecting the lives of millions of people. The chemical industry is known to discard harmful substances without any proper precautions. The growth of a sustainable mind set has compelled the government and authorities to regulate the utilization of montmorillonite clay. In a recent study, it was found, that overuse of clay can led to pollution of drinking water thus imposing stringent regulations.
Montmorillonite Clay Market Regional Insights
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"Asia Pacific to Dominate the Market due to the Large-Scale Deposits. "
Asia Pacific region predominantly China is anticipated to dominate the market. The primary region of dominance is due to the presence of a large number of deposits. Moreover, government initiatives have led to the establishment of manufacturing units. The availability of cheap labor emerging economies have paved the way for investments in research and development. The huge market opportunities and the presence of key players have further intensified the montmorillonite clay market in this region.
KEY INDUSTRY PLAYERS
"Market Players Focus on New Product Launches to Strengthen Market Position"
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- Minerals Technologies (Amcol) (U.S)
- Bentonite Performance Minerals LLC (BPM) (U.S)
- Clariant (Switzerland)
- Imerys (S&B) (France)
- Black Hills Bentonite (U.S)
- Wyo-Ben Inc (U.S)
- Bentonite Company LLC (Russia)
- Tolsa Group (Spain)
- Laviosa Minerals SpA (Italy)
- G & W Mineral Resources (South Africa)
- HOJUN (Japan)
- Ningcheng Tianyu (China)
- Huawei Bentonite (China)
- China Jianping Cuican Peng Run Tu (China)
- Xinjiang Nonmetallic Minerals (China)
- LKAB Minerals (Netherlands)
- Ashapura (India)
- Star Bentonite Group (India)
- Kunimine Industries (Japan)
- Fenghong New Material (China)
- Chang'an Renheng (China)
- Liufangzi Bentonite (China)
- Bentonit União (Brazil)
- Castiglioni Pes y Cia (Argentina)
- Canbensan (Turkey)
- Aydın Bentonit (Turkey)
- KarBen (Turkey)
- Elementis (U.K)
REPORT COVERAGE
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 1.3454 Million in 2022 |
Market Size Value By |
US$ 1.6065 Million by 2028 |
Growth Rate |
CAGR of 3% from 2022 to 2028 |
Forecast Period |
2022-2028 |
Base Year |
2022 |
Historical Data Available |
Yes |
Segments Covered |
Type and Application |
Regional Scope |
Global |
Frequently Asked Questions
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what value is the montmorillonite clay market expected to touch by 2028?
The global montmorillonite clay market is expected to reach USD 1.6065 billion by 2028.
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What CAGR is the Montmorillonite Clay Market expected to exhibit by 2028?
The Montmorillonite Clay Market is expected to exhibit a CAGR of 3.0 % by 2028.
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What are the driving factors of the Montmorillonite Clay Market?
The proliferating demand for the cleansing industry and the increasing application across industries are the driving factors in the Montmorillonite Clay Market .
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Which are the top companies operating in the Montmorillonite Clay Market?
Minerals Technologies (Amcol), Bentonite Performance Minerals LLC (BPM), Clariant are the key company operating in the Montmorillonite Clay Market .