Pune, Maharashtra -- (SBWire) -- 11/08/2018 --According to the Graphical Research new growth forecast report titled Asia Pacific Attapulgite Market analysis based on Product, End-User, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024, Estimated to exceed USD 180 million by 2024
Attapulgite (palygorskite) has exceptional absorption qualities and can absorb up to 200% of its own weight in water owing to its porous structure, lesser density and laminar granules. The product features including: quick solidification after wetting, removal of foul smell and the prevention of bacterial growth makes it an ideal raw material to manufacture pet litter absorbents, especially for indoor animals such as cats and dogs.
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Attapulgite market will be highly driven by the growing demand for binding, suspending and stabilizing agents in agricultural sector across the Asia Pacific region by 2024. The product is extensively used in agricultural sector as binding agent for fertilizers, as a carrier in wettable granules for agrochemicals such as herbicides and pesticides. Huge agrarian economies in this region such as India, China and Indonesia will generate notable market for attapulgite-based agrochemicals in future years.
Cat litter absorbents segment led Asia Pacific attapulgite market with a substantial share above 30% in 2017. China is reportedly the second-ranking country in terms of cat ownership and the country's pet industry is likely to witness a substantial growth in the next seven years. Such trends will positively influence the product demand for producing cat litter absorbents by 2024.
Additionally, the product helps to restrict the bacteria growth with the help of antibacterial agents and also reduce the dust content. These factors will strongly support palygorskite market growth in forecast timeframe.
Colloidal grade will grow with a CAGR exceeding 10% over the forecast period. The product is mainly used to form gel structures in fresh and salty waters. This makes it suitable for the several industrial applications which include binding, suspension, absorbent and reinforcement.
Browse key industry insights from this 2018 report Asia Pacific Attapulgite Market in detail along with the table of contents at:
https://www.graphicalresearch.com/industry-insights/1009/APAC-attapulgite-market
Some significant industry participants include: Ashapura Group, Manek Group, Xuyi Botu Attapulgite, MinTech International, Jaxon Filtration, etc. These small and medium contributors accounted for over 25% of the overall attapulgite market in 2017. Discovery of vast reserves of palygorskite in Xuyi province in China with 890 million tons followed by the government efforts to exploit it, Asia Pacific Attapulgite market will witness robust potential by 2024.
Segments We Cover:
Asia Pacific Attapulgite Market, By Product
Colloidal grade, Sorptive grade
Asia Pacific Attapulgite Market, By End-user
Cat litter absorbent, Oil & gas, Agriculture, Paints & coatings, Medical & pharmaceutical, Others
The above information is provided on a regional and country basis for the following:
China, India, Japan, Australia, Indonesia, Malaysia, Thailand, Singapore, South Korea, Vietnam, Philippines
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Related Reports:
1. North America Attapulgite Market Share By Product (Colloidal, Sorptive), By End-User (Cat Litter Absorbent, Oil & Gas, Agriculture, Paints & Coatings, Medical & Pharmaceutical), Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024
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Asia Pacific Attapulgite Market Share Is Expected to Witness Growth of Around 9% CAGR from 2018 to 2024.
Attapulgite offers unique properties such as high surface area and resistance to higher concentration of electrolytes. Increasing drilling activities and growing demand for cat litter absorbents are likely to be the key factors propelling Asia Pacific attapulgite market by 2024.