Rising Demand Drives Bentonite Clay Market to USD 3.2 Billion by 2034, Growing at 5.2% CAGR
According to Future Market Insights (FMI), the worldwide bentonite clay market is expected to reach USD 1.9 billion in 2024 and USD 3.2 billion by 2034. The market is projected to rise at a CAGR of 5.2% by 2034.
Bentonite is gaining traction in cosmetic preparations as pigment binders and suspending agents, driving its use in the pharmaceutical segment. The foundry and metal casting industries are set to impact the market, particularly in the automobile and equipment manufacturing sectors, due to increased demand for these applications.
The pharmaceutical industry, along with extensive research by key manufacturers, offers ample opportunities for companies in the bentonite market. The industry is driven by its high usage as groundwater barriers, binders in iron and steel manufacturing, liquor clarifiers, and high drilling mud applications.
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