April 23, 2020
As per the report titled ‘Global Bleaching Clay Market Size study, by Type (Activated Bauxite, Activated Clays and Fullers Earth), By application (Industrial Oil, Mineral Oil and Waxes and Vegetable Oil and Animal Fats) and Regional Forecasts 2019-2026’, available with Market Study Report LLC, global bleaching clay market was valued at USD 814.28 million in 2018 and is estimated to grow with 5.10% CAGR through 2026.
Bleaching clay is a clay absorbent which upon mixing with fats and oil under specific conditions, decolorizes and refines oil and fats by eliminating the coloring compounds and contaminants. Extensive consumption of refined oil coupled with increasing use of bleaching clay across several sectors for decolorizing and refining mineral oils, margarine, and animal fats are driving the market growth.
Widespread use of bleaching clay in industries primarily for the manufacturing of biodiesel and industrial triglycerides which are utilized for the production of soaps, paints, and varnishes, is enhancing the market growth.
Furthermore, surging demand for mineral oil-based lubricants in the automotive sector, owing to its favorable characteristics such as reduction of friction to enhance the operations of the bearing surfaces is stimulating market expansion.
According to the Germany Trade & Invest Organization, in 2017, Germany became Europe’s largest automotive market in terms of both sales and production share, accounting for 20% of newly registered vehicles and 30% of passenger car manufactures. Also, Germany automotive industry produced about 16.4 million vehicles in the same year with 315,750 commercial vehicle and 5.65 million passenger cars. Increasing number for on-road vehicles across the globe will support the demand for bleaching clay to produce oil-based lubricants. However, high procurement cost of bleaching clay will impede the market growth over the forecast period.
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Considering the geographical outlook, Asia Pacific bleaching clay market is slated see robust growth over the forecast duration. The growth can be credited to rising disposable income and increasing production of edible oil in India, China, and Malaysia. Moreover, increase in number of manufacturing sites and refineries in China owing to favorable government initiatives and technological advancements are complementing the regional market size.
Prominent players in global bleaching clay market include Taiko Group of Companies, BASF SE, Oil-Dri Corporation of America, Musim Mas Holdings, Clariant International AG, 20 Microns Nano Minerals Ltd., AMCOL Specialty Minerals, Refoil Earth Pvt. Ltd., AMC (UK) Ltd., W Clay Industries Sdn. Bhd., and Ashapura Group of Companies.