Bentonite Market to grow at 8.3% CAGR till 2024 | Halliburton, Clariant, ASHAPURA MINECHEM LTD, CETCO ENERGY SERVICES, Minerals Technologi

Predominantly driven by widespread applications in iron ore pelletizing, drilling muds, refining, and foundry sands, the global bentonite market is anticipated to garner considerable remuneration over 2018-2024. Subject to rising foreign direct investment from developed nations such as the U.S. and Japan, the steel market in India and China has promoted the iron pelletizing business. In this regard, it would be prudent to mention that bentonite is the major raw material that is utilized as a binding agent to speed-up mineralization rates in the steel manufacturing companies, essentially accelerating the bentonite industry share growth.

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Elaborating on the numerous unique properties of bentonite, it is used to improve thermal resistance, increase drop strength, impart structural stability to iron pellets. Owing to these excellent features, the uptake of bentonite has increased in the steel mills. Moreover, bentonite increases the productivity of sponge iron with less amount of energy. Here, it is quite imperative to mention that steel companies have been feeding the output to iron palletization plants to make the ore usable in steel manufacturing – a factor that has undoubtedly provided immense business opportunities for the players operating in the global bentonite market.
Increasing O&G exploration activities across various geographies to boost calcium bentonite industry:
Numerous developed and emerging nations across the world have initiated large-scale oil and gas exploration activities, of late, to reduce the volume of petroleum imports so as to decrease the widening current account deficits of their respective economies. In this regard, it would be prudent to mention that calcium bentonite is utilized in drilling & fracking activities owing to its high viscosity and applications in drilling mud. It helps in keeping the stone detritus in suspension when purge pumps are inoperative while creating boreholes in the ground to access petroleum reserves.

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Enumerated below are a few examples of developed and emerging economies where the increasing number of oil and gas exploration and mining operations have been instrumental in boosting the growth potential of calcium bentonite market:

• The overall oil and natural gas production capacity of the U.S. has been reaching record levels in the recent time. In 2017, the North American country reportedly became a net natural gas exporter for the first time in 6 decades. According to the statistics published in the Annual Energy Outlook 2018, a report compiled by the U.S. Energy Information Administration, the total natural gas production capacity of the nation was registered to be 73.6 billion cubic feet per day (Bcf/d) in 2017 and is slated to reach 118 Bcf/d in 2050. The rising natural gas production has invariably benefited the overall U.S. calcium bentonite industry share which is slated to grow at a 5% CAGR over 2018-2024.

• In an attempt to drastically enhance its domestic crude oil production and cut its mounting crude oil import bill, India has been increasing its natural gas production on the onshore blocks in the recent years. As per reliable estimates, India’s natural gas output grew 2.5% to 32,649 Million Standard Cubic Meter in the fiscal year 2017-2018, the highest in six years. These statistics are a testimony to the growing number of oil and gas drilling activities in the nation – a factor that has contributed toward bentonite market share expansion in the past few years.

Driven by rising infrastructural growth, escalation in automotive manufacturing, and increasing activities of oil and gas drilling, the overall commercialization scale of bentonite industry is expected to exceed USD 1.95 billion by 2024. MIDPOINT Chemicals, Wyo-Ben, Halliburton, Black Hills Bentonite, CETCO, Delmon Group of Companies, and Mineral Technologies are the prominent companies spearheading the global bentonite market.

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