(MENAFN- GlobeNewsWire - Nasdaq)
New York, Sept. 23, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report 'Bentonite Global Market Report 2022' -
26 billion in 2022 at a compound annual growth rate (CAGR) of 6.3%. The bentonite mining market is expected to grow to $4.73 billion in 2026 at a compound annual growth rate (CAGR) of 2.7%.
The bentonite mining market consists of sales of bentonite clay by entities (organizations, sole traders, and partnerships) that mine bentonite which is used externally as a clay poultice, mud pack, or in the bath and, in skin care recipes.
The main types of bentonite mining are sodium, calcium, and other types – of bentonite.Sodium refers to a silver-white soft waxy ductile element of the alkali metal group that occurs abundantly in nature in combined form and is very active chemically.
The various applications involved foundry sands iron ore pelletizing, pet litter, drilling mud, civil engineering, and refining. The mining type includes underground mining, and surface mining.
Asia-Pacific was the largest region in the bentonite mining market in 2021. The regions covered in this bentonite mining market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The growth in the bentonite mining market is due to an increase in sales in rapidly developing countries such as China and India owing to rising disposable income, and increasing demand for, and availability of credit.Disposable income refers to the amount of money that an individual or household has to spend or save after income taxes have been deducted.
Bentonite is used in chemical, rubber, insecticide & pesticide industries and in civil construction works.For instance, in 2021, according to the Bureau of Statistics of China, a China-based Government agency data, Disposable Personal Income in China increased to 47412 CNY 2021 from 43834 CNY in 2020.
Therefore, the rising disposable income is driving the growth of the bentonite mining market.
Companies engaged in the Bentonite mining industry are advanced geosynthetic clay liners to prevent leakage and corrosion in mining operations as the major trends witnessed in the global Bentonite mining market.
The countries covered in the bentonite mining market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Read the full report:
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