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Global Bentonite Market TOC
Product Type (Calcium, Sodium, Others)
The sodium segment in the bentonite market is estimated to gain the largest revenue share over the projected time frame. By the end of 2026, the sodium segment garnered the largest revenue of USD 3.54 billion. The segment grew at a CAGR of 3.5% during the analysis period. The growth of the segment is due to its usefulness as a sealant for subsurface disposal systems and for quarantining metal pollutants of groundwater, due to its property of swelling. Sodium bentonite is also used to seal city landfills, sewage lagoons, and stock and recreation ponds. Sodium bentonite is most used for large castings that use dry molds and used as a binding agent in the manufacture of iron ore (taconite) pellets which are used in the steelmaking industry. According to the World Steel Association, average world steel use per capita has steadily increased from 150 kg in 2001 to around 230 kg in 2020. By 2050, the use of steel is predicted to surge by around 20% compared to present levels to meet the needs of our growing population. Besides, according to the Organization for Economic Co-operation and Development, global steelmaking capacity and production increased to 562.9 million metric tons in 2022 from 521.6 million metric tons in 2021.
Application (Pet Litter, Foundry Molding Sands, Civil Engineering, Iron Ore Pelletizing, Drilling Fluids, Oil Absorbents)
Bentonite market from the foundry molding sands segment is estimated to register USD 2.10 Billion revenue during projected time frame and is anticipated to maintain its leading position while expanding at the fastest CAGR owing to the great benefits of bentonite while preparation of molding sand used in the production of nonferrous casting, iron, and steel. Green sand molds with good flowability, compatibility, and thermal stability are made using the unique features of bentonite for high-quality manufacturing castings. According to The European Foundry Association, the share of cast iron with lamellar graphite in the output total of iron and steel castings is 49.3%. The iron, steel, and malleable foundries produced approximately 10.7 million tons of castings in 2021 which experienced an increase of 17.6 % over 2020.
Our in-depth analysis of the global bentonite market includes the following segments:
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Author Credits: Rajrani Baghel
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