Bentonite Market

The article provides a detailed analysis of the global bentonite market, highlighting the increasing demand and consumption trends. It projects a positive growth trajectory with forecasts indicating an acceleration in market performance. The consumption, production, imports, and exports of bentonite are thoroughly examined over the past decade, showcasing key players and trends in the market. The article emphasizes the significant role of countries like the United States, China, India, and Denmark in driving market growth, as well as insights into pricing and value trends of the industry.

Market Forecast

Driven by increasing demand for bentonite worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +2.1% for the period from 2022 to 2030, which is projected to bring the market volume to 24M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.7% for the period from 2022 to 2030, which is projected to bring the market value to $5.5B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Bentonite

In 2022, approx. 21M tons of bentonite were consumed worldwide; with a decrease of -2.4% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. Over the period under review, global consumption hit record highs at 21M tons in 2021, and then contracted modestly in the following year.

The global bentonite market value expanded slightly to $4.1B in 2022, increasing by 2.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, continues to indicate a relatively flat trend pattern. Global consumption peaked in 2022 and is expected to retain growth in the near future.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the United States (3.8M tons), Greece (2.4M tons) and India (2.4M tons), with a combined 41% share of global consumption. China, Turkey, Denmark, Germany, Iran, Russia, Canada, Japan and Indonesia lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Denmark (with a CAGR of +32.6%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest bentonite markets worldwide were the United States ($836M), China ($579M) and Japan ($329M), together comprising 42% of the global market. Denmark, Germany, Greece, Russia, India, Turkey, Canada, Iran and Indonesia lagged somewhat behind, together accounting for a further 30%.

Among the main consuming countries, Denmark, with a CAGR of +30.9%, recorded the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of bentonite per capita consumption in 2022 were Greece (224 kg per person), Denmark (154 kg per person) and Canada (15 kg per person).

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +31.9%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Bentonite

In 2022, approx. 21M tons of bentonite were produced worldwide; shrinking by -2.7% on 2021. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 16%. Global production peaked at 21M tons in 2021, and then fell modestly in the following year.

In value terms, bentonite production expanded modestly to $3.9B in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 21% against the previous year. Global production peaked in 2022 and is expected to retain growth in years to come.

Production By Country

The countries with the highest volumes of production in 2022 were the United States (4.6M tons), India (3.7M tons) and Greece (2.4M tons), together comprising 52% of global production. China, Turkey, Denmark, Iran, Russia and Germany lagged somewhat behind, together comprising a further 32%.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +40.8%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Bentonite

In 2022, approx. 5.9M tons of bentonite were imported worldwide; standing approx. at the previous year. The total import volume increased at an average annual rate of +2.3% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 11%. Over the period under review, global imports reached the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, bentonite imports rose sharply to $1.1B in 2022. The total import value increased at an average annual rate of +3.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 22%. Global imports peaked in 2022 and are expected to retain growth in years to come.

Imports By Country

Canada (593K tons) and Germany (560K tons) represented the major importers of bentonite in 2022, recording near 10% and 9.5% of total imports, respectively. The Netherlands (358K tons) took a 6.1% share (based on physical terms) of total imports, which put it in second place, followed by Poland (6%), Indonesia (5.7%) and Italy (4.8%). The following importers - Sweden (237K tons), Russia (219K tons), China (179K tons), France (176K tons), Japan (153K tons), South Korea (152K tons) and Thailand (141K tons) - together made up 21% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by China (with a CAGR of +11.6%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest bentonite importing markets worldwide were Germany ($124M), Canada ($78M) and Japan ($50M), with a combined 22% share of global imports. France, the Netherlands, Italy, China, Indonesia, Poland, Thailand, Sweden, South Korea and Russia lagged somewhat behind, together accounting for a further 30%.

In terms of the main importing countries, Italy, with a CAGR of +9.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average bentonite import price amounted to $193 per ton, picking up by 7.7% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 9.6%. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($329 per ton), while Poland ($90 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+4.9%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Bentonite

Global bentonite exports reached 5.8M tons in 2022, leveling off at the previous year's figure. The total export volume increased at an average annual rate of +2.9% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2013 when exports increased by 10% against the previous year. Over the period under review, the global exports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, bentonite exports rose sharply to $998M in 2022. The total export value increased at an average annual rate of +4.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 21%. The global exports peaked in 2022 and are likely to continue growth in the near future.

Exports By Country

The shipments of the three major exporters of bentonite, namely India, Turkey and the United States, represented more than half of total export. China (439K tons) ranks next in terms of the total exports with a 7.6% share, followed by Italy (4.8%). The Netherlands (188K tons), the Czech Republic (183K tons), Slovakia (174K tons), Azerbaijan (166K tons) and Mozambique (94K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Mozambique (with a CAGR of +24.7%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest bentonite supplying countries worldwide were the United States ($197M), China ($171M) and Turkey ($143M), together comprising 51% of global exports. India, the Netherlands, Italy, the Czech Republic, Azerbaijan, Slovakia and Mozambique lagged somewhat behind, together comprising a further 27%.

Mozambique, with a CAGR of +20.2%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average bentonite export price amounted to $173 per ton, with an increase of 5.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. The pace of growth appeared the most rapid in 2021 when the average export price increased by 12% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Netherlands ($431 per ton), while Mozambique ($18 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.5%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform