North America is expected to exhibit high growth in the organo-modified bentonite market during the forecast period. Organo-modified bentonite is widely used in oil & gas for drilling fluids. The oil & gas industry accounts for the leading share in the market.
NEWARK, Del. , Aug. 4, 2022 /PRNewswire/ -- The global organo-modified bentonite market is expected to exhibit considerable growth during the assessment period. The CAGR rate is predicted to be positive during this period. Accelerated demand for the material from the oil anad gas industry in the Middle East and North America is expected to fuel market possibilities for organo-modified bentonite during the assessment period of 2021 to 2031.
Organo-modified bentonites have specialized properties that make it a critical component of drilling fluids for extraction of crude as well as a binder for the production of iron, steel and non-ferrous castings. Thus organo-modified bentonite finds wide application in different industry verticals like water treatment, paintings & coatings, oil & gas, textile, foundry, cement and many others. Organo-modified bentonite is also finding usage in cosmetic and beauty products such as mud baths which further propels market growth of the material. This growth is supplemented by increasing disposable income and growing spending on personal care in developing regions.
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Features like good compatibility and thickening ability make orgqno-modified bentonite a popular product in the paint and coating industry. It also finds lucrative market opportunities in low and middle polar solvent systems.
"Elevated demand for organo-modified bentonite in the oil and gas industry is a primary growth driver for the product in the global market for the forecast period," says an FMI analyst.
Application in oil and gas industry to boost market possibilities.
Sales grew at 2.8% CAGR between 2016 and 2020.
North America will continue its market domination over the forecast period.
Foundry applications propels the ales of organo-modified bentonites in the Asia Pacific region.
China organo-modified bentonite market is predicted to register considerable growth over the assessment period.
Elevated demand in foundry and oil & gas is expected to drive the market in Mexico .
Application in multiple industry verticals in India will fuel market growth in the region.
By application, the absorbent/ adsorbent segment is projected to account for the largest market share, with a high CAGR.
Based on end use, oil and gas continue to dominate the market.
Elementis, BYK, MI-Swaco, Laviosa, Lamberti, Huate Corp., Unitech Chemicals (Zibo), Camp Shining, Tolsa, Manek Group, Zhejiang Anji Tianlong Organic Bentonite Co. Ltd., Zhejiang Qinghong New Material Co. Ltd., and Changxing Guangda New Materials Co., Ltd among others are some of the major players in the organo-modified bentonite market that are profiled in the full version of the report.
A fairly consolidated, the organo-modified bentonite market is dominated by key players selling the product across the globe- with more than three-quarters of the market value share distributed among these key players. The use of specialized technology for production of organo-modified bentonite make it difficult for new entrants. Major market players are concentrating on building a market for specific applications.
Across the value chain, the market players have built strong partnerships with the raw material suppliers, distributors and end users. In order to meet the requirements of a growing consumer base, businesses operating in the organo-modified bentonite market strategically partner with end users and regional distributors.
Organo-modified bentonite suppliers pursue strategic tactics of acquisition and geographic expansion to create a foothold. The tier-I players in the Organo-Modified Bentonite market are concentrating on improving R&D capabilities to develop new organo-modified bentonite with different quaternary ammonium salts. These businesses focus on acquisition of smaller players, to strengthen their their market penetration as well as to gain a competitive edge in the market.
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More Insights into the Organo-modified Bentonites Market Report
In its latest report, FMI offers an unbiased analysis of the global organo-modified bentonite market, providing historical data from 2016 to 2020 and forecast statistics for the period 2021 to 2031. To understand the global market potential, growth, and range, the market is segmented based on end use (oil & gas, foundry, paintings & coatings, textile, water treatment, cement, lubricants & greases, coal briquette), application (drilling fluid, clarification agent, nucleating agent, binder, absorbent/ adsorbent, others) and region.
According to the latest FMI reports, based on regional growth, North America is expected to lead the global market growth. This is owing to the upsurge in investments in Brownfield and Greenfield projects as well as increasing oil & gas exploration activities to reduce energy dependency on imports.
The organo-modified bentonite demand in China is expected to rise extensively over the forecast period due to the rise in infrastructure activities. Rapid urbanization and population growth have boosted the cement industry which in turn propels the organo-modified bentonite market growth due to the product's application in the cement sector. Investments by key players in the country in organo-modified bentonite market is expected to increase with advancing demand from various industries. Likewise, growing demand for metal casting is fueling the market via foundry industry, thereby facilitating organo-modified bentonite sales.
Casting production is shifting from developed market to low cost countries which ensure market growth of organo-modified bentonite in regions like Mexico . The country is amongst one of the major bentonite manufacturing seats. The demand for organo-modified bentonite in Mexico is supported by demand in foundry and oil & gas industries.
The presence of various industries including foundry, cosmetics, paints and coatings supplements market growth for organo-modified bentonite in India . The demand for for the product is primarily fulfilled by the imports from countries such as China . Bentonite acquired in India is not fit for modification as it has a deep color which is not preferred in paints & coatings applications.
The organo-modified bentonite market in Russia is driven by growth in foundry and oil & gas industries. However, the oil & gas sector in Russia has experienced slow growth in last few years which has impacted the organo-modified bentonite market.
According to the latest report by FMI, based on application, adsorbent/ absorbent segment is amongst the leading applications of organo-modified bentonite. It accounts for about one-fifth of the total market. Organo-modified bentonite is widely used as absorbent/ adsorbent in industries such as water treatment, cosmetics and others. The organo-modified bentonite application as an adsorbent/ absorbent in these industries segment is anticipated to drive the segment; growing at high rate over the forecast period
Based on end use, the oil and gas industry segment is expected to drive market expansion. Owing to its various properties, bentonite is used in drilling & completion fluids used for mud-rotary and drilling processes. The increasing number of oil and gas producers around the globe propel the consumption of bentonite as a drilling fluid for extraction of crude oil and natural gas. With increasing energy requirements, demand for oil drilling is expected to increase, thus positively impacting the global organo-modified market.
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Organo-Modified Bentonite Market by Category
Middle East and Africa (MEA)
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About the Chemicals & Materials Division at Future Market Insights
The chemicals & materials team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
2.2. Market Definition / Scope / Limitations
3.1. Key Trends Impacting the Market
4.1. Product Type Adoption / Usage Analysis
4.2. Product Type USPs / Features
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