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Increasing demand from oil & gas industry for drilling fluids is expected to fuel the demand for organo-modified bentonite. 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 and 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.
Features like good compatibility and thickening ability make organo-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.
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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.
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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.
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.
Organo-Modified Bentonite Market by Category
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3.1. Key Trends Impacting the Market
4.1. Product Type Adoption / Usage Analysis
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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. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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