Attapulgite Market to cross USD 600 mn by 2024: Global Market Insights, Inc.

Global Attapulgite Market finds application in oil & gas, agriculture, paints & coatings, pharmaceuticals, and cat litter absorbent industries due to the product's excellent absorbing properties and highly porous structure.

SELBYVILLE, Del., Dec. 6, 2017 /PRNewswire-iReach/ -- On the product front, Attapulgite Market can be broadly classified into colloidal and sorptive grades, which differ based on their physical and chemical characteristics. The colloidal segment accounted for over one- third of the overall attapulgite industry share and is anticipated to witness a CAGR of 9% over the period of 2016-2024. On the other hand, the growth of sorptive grade products is forecast to be a bit sluggish in the years ahead and will lose ground to the colloidal grades, owing to the extensive applications of the latter in polishes, gels, agriculture, pharmaceuticals, paints, and in cat litter absorbents.

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Attapulgite market is segmented into sorptive and colloidal grades on the basis of the product's physical and chemical characteristics. Colloidal grades registered more than two third of the global attapulgite market volume in 2015. This segment will gain the market fast due to its widespread application as raw material in paints, polishes, gels, and in cat litter absorbents.

Cat litter absorbent industry will hold sway the global attapulgite market in the upcoming years with an estimated gain at over 8% CAGR up to 2024. Increasing feline pets in the developed countries will likely have a noteworthy effect on this application segment throughout the considered forecast spell.

Increasing offshore drilling activities to meet the global petrochemical demand will also enhance the overall attapulgite market, designating the oil & gas end-user industry as a highly developing sector in the coming years. This segment will witness growth at around 9% CAGR in the next eight years.

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Significant deposit of the clay mineral in the U.S. made North America a notable regional market with over a third of the global attapulgite market size. The region is set to witness growth at over 7% CAGR in the considered forecast spell. In terms of demand, Asia Pacific will witness a high growth at more than 9% CAGR owing to increasing industrialization and purchase parity of the regional population.

The company share is highly consolidated with the top two players – Active Mineral International and BASF SE, accounting to over 50% of the overall market size. Other manufacturing companies including Geohellas, Halliburton, KPL International, Hudson, Oil-Dri Corporation, Ashapura Group, Russell Finex, Jaxon Filtration, Gujarat Minechem, Anhui Boshuo, Anhui Mingmei Minchem, and several others also characterize the attapulgite market competitive landscape of the industry.

Browse key industry insights spread across 125 pages with 143 market data tables & 13 figures & charts from the report, "Attapulgite Market Size By Product (Colloidal, Sorptive), By End-User (Cat Litter Absorbent, Oil & Gas, Agriculture, Paints & Coatings, Medical & Pharmaceutical), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024" in detail along with the table of contents:

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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