Global Attapulgite Market: Snapshot
Attapulgite is used extensively in the industrial sector and has been distinctively acknowledged as a clay mineral. It basically belongs the Fuller’s earth clay minerals family. Its unique porous feature and differentiating colloidal properties with high surface resistance and high concentration of electrolytes make it a favorable mineral for use in many industries. The global market for attapulgite is expected to witness exponential growth in the years ahead owing to the increasing demand for paints and coatings across the globe. Emerging countries are likely to be the focal point of the market players to capitalize on the opportunities arising from there.
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The rising number of drilling activities globally is expected to supplement the growth of the global attapulgite market. The advanced suspending qualities of attapulgite find it applications in the salt contaminated mud used for offshore drilling purposes. It is employed for reducing the weight of the slurry and at the same time increase its volume. However, strict mining commandments in the U.S. attached with environmental ideals, land strategies, waste discarding, and substance poisonousness are few of the aspects that are anticipated to restrict the growth of the market over the course of the forecast period.
When seen from the aspect of geography, the market for attapulgite is expected to witness significant opportunities from North America and Asia Pacific owing to the rapid industrialization and the mounting activities relating to oil and gas drilling and exploration in the respective regions.
Global Attapulgite Market: Overview
Attapulgite has been extensively used in the industry for decades and is distinctively recognized as clay mineral. It belongs to the fuller’s earth family of minerals. It is highly porous and has distinguishing colloidal properties such as resistance to high surface area and higher concentration of electrolytes. Due to its unique properties, it finds application in various end user industries.
Based on product, the market can be segmented into sorptive grade and colloidal grade. In terms of application, the market can be classified into oil and gas, medical and pharmaceutical, cat litter absorbent, paints and coatings, agriculture, and others.
The report provides an inclusive outline of various factors contributing to the expansion of the global attapulgite market. It also offers insights into challenges that the market could face over the forecast period. The dominant trends in overall market operations are also studied in the report in detail.
Global Attapulgite Market: Trends and Prospects
The global attapulgite market is driven by numerous factors that are supplementing the demand growth. Increase in drilling activities across the world due to booming construction and oil & gas industries will largely benefit the market of attapulgite. Its superior suspending qualities finds usage in salt contaminated mud for offshore drilling activities. It is used to reduce the slurry weight, and increase the slurry volume. However, stringent mining laws in the U.S. coupled with environmental standards, land policies, waste disposal, and substance toxicities are few of the factors that might limit the growth of the market during forecast period.
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By product, the colloidal grade segment is expected to contribute largely to the market share, and is projected to score a high CAGR over the said period. Colloidal grades is extensively used in variety of products such as laundry washing powders, gelling agent and paint thickener, raw material for cat litter absorbents, polishes, adhesive viscosity control, and oil-well drilling. In terms of application, cat litter absorbent industry is likely to witness high growth in the forecast period. This segment is prospering mainly due to rising trend of petting cats globally. In addition, increasing responsiveness towards the feline family, development of eco- friendly and clay mineral based quick acting litter absorbents will positively impact the market growth.
With increase in the amount of oil & gas drilling activities worldwide, the oil and gas segment of the market is set to witness a great deal of demand in the forecast period. Also, niche application of attapulgite in chemical, paper, and cosmetics are expected to boost the demand for the product, thereby driving the market growth over the forecast period.
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Global Attapulgite Market: Regional Analysis
The global attapulgite market can be geographically segmented into Europe, Asia Pacific, North America, and Rest of the World. Owing to rich mineral deposits in the U.S. and readily available product as raw material for various end user industries, the market for attapugite in North America will continue to see a considerable growth over the forecast period.
The market of Asia Pacific is steadily becoming attractive for attapulgite. Industrialization is the crucial factor for the growth of the market in this region. It is predicted that by the end of the forecast period, Asia Pacific will take over North America in terms of product demand.
Global Attapulgite Market: Competitive Landscape
Some of the leading players in the global attapulgite market are Oil-Dri Corporation of America KPL International, BASF SE, Halliburton, Hudson, Ashapura Group, Geohellas, Gujarat Minechem, Anhui Mingmei Minchem, Anhui Boshuo, Jaxon Filtration, Russell Finex, and Active Mineral International.