The global bentonite market has a highly consolidated vendor landscape, says Transparency Market Research, in a recently published report.
A key strategy developed by players in the global bentonite market to outshine their rivals is expanding manufacturing capacity. They are seen focusing hard on manufacturing process differentiation and expansion of manufacturing product portfolio to steal a march over competitors. Regulating costs with delivering quality services is a key strategy of most businesses present in the global bentonite market.
Among the various key products in the market, growing demand for sodium bentonite is expected to boost the global bentonite market. This is because of increasing uptake of green sand casting process in the foundry. Region wise, Asia Pacific is expected to be leading the global bentonite market in the coming years. This is attributed to flourishing automotive industries in the region and also rising demand from the heavy equipment manufacturing industry.
Booming construction industry to fuel growth in global bentonite market
Bentonite is majorly used as a binding agent and offers improved abrasive and mechanical strength. This product provides structural stability to iron pellets, improves drop strength and thermal resistance, and helps in extracting moisture. Bentonite is extensively adopted in the industries such as foundry sands, construction, iron ore pelletising, drilling mud, pet products, cosmetics, pharmaceuticals, and paper. Bentonite clay results from the changing of volcanic ash and is mostly used to close borehole walls, remove drill cuttings, and grease the cutting head. Such USP’s are driving the global bentonite market. Along with this, rising usage of bentonite in various industries, increasing demand for binders in iron and steel manufacturing, and growing need for liquor clarifiers are the factors boosting the growth in the global bentonite market.
Furthermore, Bentonite is majorly used in various manufacturing processes. Bentonite slurries find application in constructing special foundations for digging bored pills and diaphragm walls. Thus, rising demand for smart infrastructure, growing expenditure in infrastructural development, and rapid urbanisation are factors fueling the construction industry across the globe, which in turn propel the global bentonite market. Apart from this, rising metal industry, increasing demand for cattle feed and cat litter, and growing demand for manufacturing parts of vehicles in the automotive industry are also fueling the global bentonite market.