Growing application of organo-modified bentonite in drilling fluids and its high usage as a partial substitution of cement in concrete manufacturing are a few prominent factors that are facilitating expansion of the worldwide market.
The global organo-modified bentonite market size is anticipated to grow at a substantial CAGR of 6.3% throughout the forecast period from 2023 to 2033. The global market is predicted to be valued at US$ 271.8 million in 2023 and is set to surpass a valuation of US$ 501.3 million by 2033.
As per the historic analysis of the global organo-modified bentonite market, it registered a significant pace from 2018 to 2033. According to the research conducted by Future Market Insights, the worldwide organo-modified bentonite industry revenue totaled US$ 255.7 million in 2022.
An organically modified form of bentonite is utilized in a wide variety of applications due to its phenomenal binding, absorbency, and lubrication properties are called organo-modified bentonite. Its main component is bentonite (montmorillonite clay).
Furthermore, the surging applications of organo-modified bentonite in drilling fluids and its high usage as a partial substitution of cement in concrete manufacturing are a few prominent factors that are facilitating the expansion of the worldwide market. Attractive features of organo-modified bentonite such as excellent thickening ability and compatibility make it a popular product in the paints & coatings industry.
Over recent years, substances such as organo-modified bentonite, kaolin, and kaolinite have gained immense traction due to their increasing usage in paints, ceramics, and other highly sought-after products. In addition to that, rising exploration activities in the oil & gas industry are escalating energy demand.
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It is further expected to boost the global organo-modified bentonite industry during the forecast period. Organo-modified bentonite has become one of the commonly used organoclay rheological additives. It is extensively used in drilling fluids across the oil & gas sector. Utilizing drilling fluids with unique compositions has become a critical aspect of drilling operations in deep wells.
Key Takeaways
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Competitive Landscape
Key manufacturers of global organo-modified bentonite are concentrating on research and development activities for the development of products, employing different quaternary ammonium salts for different applications. Besides this, they are employing strategies such as facility expansions, partnerships, collaborations, mergers, joint ventures, and mergers to stay ahead of the competition.
Key Companies Profiled
Organo-modified Bentonite Industry Segmentation
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
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Jul 04, 2023