Bentonite Mining Market Size, Share & Industry Analysis, By Type of Mine (Open-Pit, Underground), By Grade (Sodium Bentonite, Calcium Bentonite), By Application (Foundry, Drilling, Construction, Iron Ore Pelletizing, Water Treatment, Others) And Regional Forecast, 2024-2032

Bentonite comprises various clays that have the property of being hygroscopic and swelling up in the presence of moisture. It constitutes montmorillonite, which is a mineral belonging to the class of smectites, which are phyllosilicates. Bentonite clay is created from the devitrification of vitreous volcanic ash. The utilization of bentonite clay in various sectors, including construction, mining, and foundry, has generated a huge demand for it.

Based on the type of mine, the market is classified into open-pit and underground. The open-pit segment accounted for the major share of the market, and it is anticipated that it will maintain its attractiveness during the forecast period due to bentonite generally being present only a few meters deep in the earth and the provision of greater recovery of the bentonite ore due to the increased maneuverability using heavy machinery. Open-pit mining is also a safer alternative to underground mining.

Based on the grade, the global market is classified into sodium bentonite and calcium bentonite. The sodium bentonite segment accounted for the major share in the market. Sodium bentonite is the most found grade in explorations and finds its use in foundry and drilling applications. Based on the application,  the market is classified into foundry, drilling, construction, iron ore pelletizing, water treatment, and others. The foundry segment accounted for the major share of the market, and it is anticipated that it will maintain its attractiveness during the forecast period due to its extensive use as a binding material in molding sand due to its good flowability, compactibility, and thermal stability.

Due to the increased industrialization and urbanization, there has been a surge in energy consumption all over the world. This has given rise to increasing crude oil explorations and mining, which requires bentonite as a mud constituent to stabilize and seal boreholes and remove drill cuttings. The use of bentonite is also massively growing in water treatment plants due to its sedimentation properties. This factor is likely to drive the global bentonite mining market during the forecast period.

The key market restraint for the market is the rising awareness of the negative impacts of bentonite mining on the contamination of groundwater, which makes it importable and hazardous to health. Also, the rising pollution associated with bentonite mining is affecting the growth of the market.

Key Market Driver -

Rising energy demand leading to increased oil drilling

Key Market Restraint -

Contamination of ground water

Key Players Covered:

Some of the major companies in the bentonite mining market are Weifang Huawei Bentonite Group Co., Ltd, Wyo-Ben, Inc., American Colloid Co, Cimbar Performance Minerals, Inc., Mi SWACO, a Schlumberger Company, Ashapura Minechem Ltd, Imerys, Clariant, Kunimine Industries Co., Ltd., ABG Bentonite Mining Company, Minerals Technologies Inc. and Taiko Group.

Regional Analysis:

The global bentonite mining market is studied across different regions like North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for the major share of the global market, as most of the bentonite deposits are located in the region. The United States is the world’s largest bentonite producer, producing over 36% of bentonite of the world’s total bentonite mining produce. Europe is the fastest-growing region for the global bentonite mining market, owing to the increasing number of successful explorations in the region, especially in nations such as Greece, Germany, Czech Republic, Ukraine, and Cyprus. The Middle East & Africa, and the Asia Pacific are also rapidly growing markets due to the increased mining activities in Turkey and India. Latin America is a steadily growing bentonite mining market, with Mexico contributing to the major production.

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Segmentation

Key Industry Developments

• On February 12, 2020, the Georgia government offered businesses to mine bentonite, among other minerals, in an attempt to undertake privatization of the mining industry in the country, through a program “100 Investment Offers for Business”.


• On June 17, 2020, the Ethiopia Ministry of Mines declared that reforms were being made to reduce barriers to investment in the mining sector for bentonite mining in the country.