Bleaching Clay Market to Garner $1.7 Billion, Globally, By 2031 at 6.9% CAGR, Says Allied Market Research
Growing concern over purification of industrial oil to promote sustainability and green environment and increase in consumption of vegetable oils drive the growth of the global bleaching clay market. Region wise, Asia-Pacific would hold the lion's share during the forecast period.
PORTLAND, Ore., Sept. 7, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Bleaching Clay Market by Product Type (Activated Bleaching Clay, Natural Bleaching Clay), by Application (Industrial Oil, Mineral Oil and Waxes, Vegetable Oil and Animal Fats): Global Opportunity Analysis and Industry Forecast, 2022-2031." According to the report, the global bleaching clay industry generated $0.9 billion in 2021, and is estimated to reach $1.7 billion by 2031, witnessing a CAGR of 6.9% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Drivers and Opportunities
Growing concern over purification of used industrial oil to promote sustainability and green environment and increase in consumption of vegetable oils by consumers drive the growth of the global bleaching clay market. However, fluctuations in the prices, unavailability of raw materials, and requirement of huge expenditure on the research & development activities and for setting up new manufacturing plants for bleaching clays products hamper the market growth. On the other hand, the emergence of biofuels as a sustainable energy source presents new opportunities for the market in the coming years.
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Covid-19 Scenario
- The Covid-19 pandemic had a staggering and unprecedented impact on the bleaching clay market, due to the disruptions in the supply chain for various bleaching clay products.
- Furthermore, to control the rise in coronavirus cases, there was a drastic shift of investments from other sectors toward biodiesel sector. Many manufacturing companies in the space were either shut down or minimized their operations due to the risk of infection spread among the workforce, thus hampering the demand and supply chain.
- However, the growing awareness related to health and sustainable development during the pandemic led to the increased production of refined and vegetable oil, which raised the demand for bleaching clay products.
The activated bleaching clay segment to rule the roost during the forecast period
Based on product type, the activated bleaching clay segment was the largest market in 2021, contributing to more than two-thirds of the global bleaching clay market, and is expected to maintain its leadership status during the forecast period. Activated bleaching clay is widely used for the absorption of pigments, dyes, and other contaminants present in edible oils. Moreover, the clay can be easily filtered out from edible oil through filtration process or press mechanism. These factors drive the segment. However, the natural bleaching clay segment is projected to witness the largest CAGR of 7.1% from 2022 to 2031. This is owing to usage of natural bleaching clay during the production of palm oil to eliminate the 3-MCPD esters and glycidyl esters (GE) present in the oil that has health associated risks. In addition, the clay plays a vital role in purification and treatment of biofuels and feedstock such as vegetable oils, cooking oils, residual oils, or animal fats.
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The vegetable oil and animal fats segment to maintain its dominance during the forecast period
Based on application, the vegetable oil and animal fats segment held the largest market share of more than two-fifths of the global bleaching clay market in 2021, and is expected to maintain its dominance during the forecast period. Bleaching clay is widely used for the purification of vegetable oils and animal fats, owing to its ability to eliminate chlorophylls, carotenoids and other contaminants that tend to degrade the color and odor of the oil. Bleaching clays can also eliminate the oxidation compounds and undesirable fatty acids in vegetable oils that tend to affect the shelf life of the oil. However, the mineral oil and waxes segment is projected to witness the largest CAGR of 7.4% from 2022 to 2031, owing to use of bleaching clay across production and purification process to minimize the Poly Aromatic Hydrocarbons (PAH) content and increase the product quality.
Asia-Pacific to maintain its dominance by 2031
Based on region, Asia-Pacific was the largest market in 2021, capturing nearly two-fifths of the global bleaching clay market, and is expected to lead the trail during the forecast period. The same is projected to manifest the fastest CAGR of 7.7% during the forecast period. There is an increase in the demand for bleaching clay in the region, owing to rise in industrial output, import & export, consumer consumption and capital investment in mineral oil and wax products.
Leading Market Players
- AMC (UK) Ltd.
- Arkema SA
- 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.
- Tianjin Yuanjing Bentonite Minchem Co. Ltd.
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