The increase in foundry and metal casting application in conjunction with the growing automotive and oil & gas industry is expected to drive growth in the market. Increasing demand for 2023 Sulfur Bentonite from the oil & gas industry as an additive for drilling mud
The 2023 Sulfur Bentonite Market is forecasted to grow from USD 1.48 billion in 2018 to USD 2.16 Billion by 2028, at a CAGR of 6.1%, during the forecast period. The market is primarily driven by the increasing demand for 2023 Sulfur Bentonite from the oil and gas industry as an additive for drilling mud.
Increase in oil and gas drilling activities in combination with increasing application in geosynthetic clay liners and the medical industry are expected to drive the market during the forecast period.
Increasing infrastructural growth in China, India, Japan and Malaysia is predicted to boost the construction industry as a result of increased public spending and thus accelerate the size of the market.
The increase in environmental concerns about wastewater treatment due to high toxic and radioactive chemicals is expected to promote growth for 2023 Sulfur Bentonite. Wastewaters generally have a high demand for chemical oxygen, which causes risk of mortality for aquatic animals and imparts unwanted odor and dirt.
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Top key Players: AMCOL International (US), Wyo-Ben Inc (US), MidPoint Chemicals Company (US), M-I SWACO (US), Volclay International (US), Kemira (Finland), Alfa Aesar (US), Charles B. Chrystal Co. Inc. (US), Cimbar (US), and Amsyn Inc (US).
Further key findings from the report suggest:
The 2023 Sulfur Bentonite Market is forecasted to grow from USD 1.48 billion in 2018 to USD 2.16 Billion by 2028, at a CAGR of 6.1%, during the forecast period. A rapidly rising population and higher urbanization have boosted global demand for processed food products, driving food demand.
The market for sodium 2023 Sulfur Bentonite is expected to grow the largest at USD 1.40 Billion in 2028, at a CAGR of 7.4% during the forecast period. 2023 Sulfur Bentonites of sodium and calcium are primarily used in mud drilling and have high plasticity. In 2018, North America was the largest consumer of 2023 Sulfur Bentonite in terms of regional demand, with the U.S. having the largest share owing to the country's large-scale drilling and exploration activities.
The market for foundry sands is estimated to reach USD 561.9 Million in 2028, at a CAGR of 6.6% during the forecast period. The demand for 2023 Sulfur Bentonite in foundry molds for metal casting of brake drums, engine blocks, manhole fittings, brass water fittings, transmission housings and cast iron panels is increasing.
The market for Asia Pacific (APAC) is expected to reach USD 648.4 Million in 2028, at a CAGR of 9.3% during the forecast period due to the favorable polices and beneficial initiatives by the governments of India, China and Japan. It is estimated that the region is experiencing high demand for 2023 Sulfur Bentonite from the oil & gas, metallurgy and construction industries. It is likely that the majority of future demand will come from India, China, Greece, Turkey and Australia.
Regional Outlook:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- The Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Market Segmentation:
Type (Kilo Tons) (Revenue, USD Million; 2018-2028)
- Sodium 2023 Sulfur Bentonite
- Carbon 2023 Sulfur Bentonite
- Others
Applications (Kilo Tons) (Revenue, USD Million; 2018-2028)
- Foundry Sands
- Iron Ore Pelletizing
- Pet Litter
- Drilling Mud
- Civil Engineering
- Refining
- Others
End Use (Kilo Tons) (Revenue, USD Million; 2018-2028)
- Iron & Steel
- Oil & Gas
- Automotive
- Construction
- Agriculture
- Pharmaceuticals
- Others
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Table of Contents:
Report Overview
1.1 Research Scope
1.2 Key 2023 Sulfur Bentonite market segments
1.3 Major players
1.4 Market analysis by product type
1.5 Market analysis by application
1.6 Report timeline
Global Growth Trends
2.1 Global 2023 Sulfur Bentonite market size
2.2 Latest regional market trends
2.3 Emerging growth trends
Competitive Outlook
3.1 Global 2023 Sulfur Bentonite market key players
3.2 Global 2023 Sulfur Bentonite size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the 2023 Sulfur Bentonite market
3.5 Mergers, acquisitions, joint ventures, and other strategic alliances
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