Developments in drilling activities all over the globe on the account of booming construction and oil & gas industries will likely have a propelling effect on the overall attapulgite market in the upcoming years.

Sellbyville, DE -- (SBWire) -- 11/01/2018 --Attapulgite Market will surpass USD 600 million by the end of 2024 according to this new research report.Booming construction industry coupled with the development in drilling activities of the oil & gas industries is likely to propel the global attapulgite market in the future years. Due to its excellent suspending properties, the product finds its extensive use in the offshore drilling of salt contaminated mud. The product is also used to increase the volume of the slurry and to decrease its weight. Salts that are dissolved in the slurry do not affect or change the product properties. Slurries with flake, fibrous, and granular materials are well suited using suspending agents that are attapulgite based. In 2015, the worldwide oil and gas rigs count was over 2000 and is likely to increase rapidly due to the advancements in the drilling technologies. These factors will further augment the global attapulgite market.

Stringent government regulations regarding mining activities in the United States due to huge clay mineral deposits is likely to act as a hindering factor to the global attapulgite market. Norms, regulations and safety standards for toxicities, contaminated water disposal, land policies, and environmental standards is likely to affect the industry in future period.

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Based on the product grade, the attapulgite market is divided into two broad categories namely, colloidal and sorptive. Colloidal grade finds application extensively in the sand bidder foundries that are water and oil based, drilling oil-wells, gelling agent, paint thickener, adhesive viscosity controller, polishes, and also in washing powders for laundries. The product captures about two-third of the attapulgite market share globally and will show healthy gains owing to its huge applications in raw materials. The sorptive grade of the product finds its applications as a carrier in the agriculture-based industries as floor absorbent, antidiarrheal and intestinal medications, and powdered agrochemicals. It also is vastly used in the vegetable fats and oils for neutralizing, and in petroleum refining.

The end-user segment of attapulgite market is categorized into five major segments as paints & coatings, agriculture, oil & gas, medical & pharmaceutical, and cat litter absorbent. The agriculture holds around 15% of the market share and is likely to show grow in forecast period. The oil & gas segment holds a significant amount of attapulgite market share owing to extensive usage of the product. Large amounts of drilling activities are likely to augment the oil & gas segment to grow with a rate of around 9%.

With more than a third of the entire attapulgite market, North America holds a significant share owing to huge deposits in the United States. With a growth rate of over 7%, the region is likely to witness healthy gains in the future years. Growing industrialization and increasing end-user industries demand in the Asia Pacific is likely to augment the regional attapulgite market. the region is likely to foresee growth with a 9% CAGR and is likely to surpass North America for product demand by the end of the forecast period.

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Prominent players in the global attapulgite market include BASF SE, Active Mineral International, Hudson, KPL International, Geohellas, Ashapura Group, Halliburton, Gujarat Minechem, Russell Finex, Jaxon Filtration, Oil-Dri Corporation of America, Anhui Boshuo, and Anhui Mingmei Minchem to name some.

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