PUBLISHER: Allied Market Research | PRODUCT CODE: 1140117
PUBLISHER: Allied Market Research | PRODUCT CODE: 1140117
The global bleaching clay market was valued at $0.9 billion in 2021, and is projected to reach $1.7 billion by 2031, growing at a CAGR of 6.9% from 2022 to 2031.
Bleaching clay, also known as bleaching earth, is a type of adsorbent clay that is used for removing the coloring matter from liquids (such as oils). The factors such as increase in transportation and logistics activities have surged the global need for crude oil and other petroleum products which in turn has led the key manufacturer to increase their production capacities for crude oil. For instance, according to a report published by the U.S. Energy Information Administration in July 2022, the OPEC crude oil production will increase to an average of 29.1 million in 2022 and then increase to 29.3 million in 2023. The acid activated clay minerals are used extensively to increase the crude oil refining capacities. It helps in absorbing coloring components, contaminants, such as oxidation products, phosphatides, pigments, and metals clays from the crude oil. This is expected to drive the growth of the bleaching clays market during the forecast period.
However, the emergence of biofuels as a sustainable energy source is the key market trend for the growth of bleaching clays during the forecast period. In addition, the rise in demand for biodiesel has increased owing to surge in oil prices, policies to reduce greenhouse gas emission, increase in energy security, and other factors. For instance, according to an article published by (IEA) International Energy Agency in 2021, the global demand for biofuels is set to grow by 41 billion liters, or 28%, from 2021 to 2026. Bleaching clays are used predominantly in biodiesel especially in the palm oil refinery to remove coloring matters, soap, oxidized compounds and polymers, gums, metals (iron, nickel), and other impurities. This is projected to witness high growth rate for bleaching clays; thus, creating remunerative opportunities for the market.
Conversely, fluctuations in the prices and unavailability of raw materials is projected to pose a major challenge to the growth of the bleaching clay market. Furthermore, the requirement of huge expenditure for R&D activities and for setting up new manufacturing plants for bleaching clays products such as mineral clays, attapulgite, bentonite, and sepiolit, and others is projected to further decrease the bleaching clay market growth rate. These factors tend to hamper the market growth.
The bleaching clays market is segmented on the basis of product type, application, and region. On the basis of product type, the market is categorized into activated bleaching clay and natural bleaching clay. The applications covered in the report include industrial oil, mineral oil & wax, vegetable oil & animal fat. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The global bleaching clays market profiles leading players that include AMC (UK) Ltd., Arkema S A, Ashapura Perfoclay Ltd, Clariant AG, DuPont, EP Minerals, U.S. Silica Company, HRP Industries, Musim Mas, Oil Dri Corporation of America, Qingdao Qiancheng Minerals Co., Ltd., Refoil Earth Pvt. Ltd., Sinoma Attapulgite Clay Co. Ltd., Taiko Group of Companies, The W Clay Industries Sdn., and Tianjin Yuanjing Bentonite Minchem Co. The global bleaching clays market report provides in-depth competitive analysis as well as profiles of these major players.
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