Transparency Market Research has published a new report "Attapulgite Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020" to its report store.
Albany, NY -- (SBWIRE) -- 06/19/2015 -- Attapulgite refers to the crystalline form of hydrated magnesium aluminosilicate which consists of 3D chain structures that gives it the characteristic sorptive and colloidal property. The global attapulgite market is primarily driven by increasing construction activities, greater oil rig drilling projects, and expansion of the healthcare market. Growing at an 8.3% CAGR between 2014 and 2020, the global attapulgite market is expected to reach a market value of US$418.8 million in 2020, growing from US$238.5 million in 2013.
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Attapulgite is a type of clay mineral that is found naturally and belongs to the family of minerals that includes fuller's earth. It exhibits typical colloidal properties and is quite porous. Its colloidal property makes it highly resistant to concentrated electrolytes. Attapulgite is generally used for manufacturing cat litter absorbents since they ensure quick absorption of unpleasant odor and litter. It is anticipated that in the forthcoming years, the demand for attapulgite will mainly be fueled by greater preference of pet owners for natural and organic cat litter absorbents.
Colloidal Grade Attapulgite Segment to Witness Highest Growth Rate
The global attapulgite market is segmented on the basis of parameters such as product type, end users, and geography. Based on the type of product, the global attapulgite market is segmented into sorptive grade and colloidal grade. Sorptive grade and colloidal grade are also known as non-colloidal sorbent grade and gelling grade respectively. With a market share exceeding 65%, the global attapulgite market, in terms of volume, was dominated by the colloidal grade segment in 2013. Huge quantities of colloidal grade attapulgite are used across several industry verticals such as paints and coatings, oil and gas, cosmetics, and chemicals. The segment for colloidal grade attapulgite is anticipated to witness robust growth during the forecast period because it is applied extensively in application areas such as liquid detergents, suspension fertilizers, adhesives, animal feed, liquid pesticides, caulks, drilling mud, and sealants.
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The various end-user segments in the global attapulgite market are medical and pharmaceutical, oil and gas, paints and coatings, cat litter absorbent, agriculture, and others such as cosmetics, paper, and chemicals. Attapulgite is used extensively in drilling activities since it can easily be suspended in grease and oil. Furthermore, attapulgite is also applied for the drilling of mud that has greater salinity as against sea water. The oil and gas segment is expected to give a major boost to the overall demand for attapulgite since this material is used extensively in drilling activities.
Rapid Industrialization to Propel Asia Pacific Attapulgite Market
Geographically, the global attapulgite market is segmented into Asia Pacific, Europe, North America, and Rest of the World. With a market share of almost 35%, the global attapulgite market was led by North America in 2013. A prominent factor that is expected to drive the market in this region is the fact that North America is rich in fuller's earth deposits. Owing to higher drilling and construction activities brought about by rapid industrialization, the Asia Pacific attapulgite market is anticipated to witness the highest rate of growth in the forthcoming years. Moreover, the expanding healthcare industry in this region is projected to fuel the demand for attapulgite in the Asia Pacific market.
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Growth of several end-user markets all over the world is expected to open up newer areas for the global attapulgite market during the forecast period. However, a prominent factor that is likely to hinder the growth of the U.S. market for attapulgite is stringent regulations with regard to mining. Gunjan Minerals Pvt. Ltd., Gujarat Minechem, Ashwa Minerals Private Limited Manek, Minerals, Oil-Dri Corporation of America, MinTech International, Inc., and Geohellas S.A. are few of the key companies in the global attapulgite market.
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