Transparency Market Research announces the release of a new research report titled “Attapulgite Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020”. The report indicates that the global attapulgite market stands to expand from US$238.5 mn in 2013 to US$418.8 mn by 2020, registering a strong CAGR of 8.30% in terms of revenue.
By product, the attapulgite market is segmented into sorptive grade and colloidal grade. The latter dominates the overall attapulgite market and, in 2013, held more than 65.0% share in terms of volume. Colloidal grade attapulgite is in demand from end-use industries such as chemicals, oil and gas, paints and coatings, and cosmetics. This segment is also forecast to be the most rapidly developing product segment by 2020 owing to its use in applications such as sealants, drilling mud, liquid detergents, suspension fertilizers, binding, adhesives, caulks, liquid pesticides, animal feed, and suspension.
Attapulgite finds application in oil and gas industries, as cat litter absorbent, in agriculture, in paints and coatings, in the pharmaceutical and medical field, and others including paper, chemicals, and cosmetics. The largest end-use industries were oil and gas and cat litter absorbent and together, these segments held more than 60.0% of the attapulgite market volume in 2013. The cat litter absorbent segment is driven by the need and the development of innovative absorbents that neutralize bad odor, are environment-friendly, and congeal quickly after soiling. The oil and gas industry is projected to witness the highest CAGR by 2020 owing to rise in drilling activities across the globe. While the pharmaceutical and medical segment is fueled by growing consumer preference for natural products over synthetic variants, the paints and coatings segment is propelled by the replacement of conventional organic thickeners with attapulgite in the production of water-insensitive films.
Geographically, the global attapulgite market is divided into North America, Asia Pacific, Europe, and Rest of the World. In 2013, North America accounted for a 35.0% share of the overall attapulgite market, making it the leading regional segment. This market is driven by rising restrictions regarding the use of synthetic chemicals and abundant deposits of attapulgite-rich fuller’s earth. Asia Pacific, on the other hand, is anticipated to register the highest CAGR during the forecast period. This regional attapulgite market is fueled by rapid industrialization, growth of the healthcare sector, and rise in drilling and construction activities.
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The attapulgite market is immensely consolidated and the top two companies accounted for almost 57.0% of the overall market in 2013. Some of the notable players operating in the global attapulgite market are Active Minerals International, LLC, Ashwa Minerals Private Limited, BASF Corporation, Oil-Dri Corporation of America, Manek Minerals, KPL International Limited, Ashapura Group, Geohellas S.A., Gunjan Minerals Pvt. Ltd., inTech International, Inc., and Gujarat Minechem.