Over the years, the global construction and oil and gas industries have witnessed enormous gains due to the growing disposable incomes and economic stability in developing regions. The wide availability of oil and gas rigs along with a surge in the offshore drilling activities has led to an extensive need for attapulgite, due to its suspending qualities, along with the ability to reduce the slurry weight with a parallel increase in its volume.
Salts that are dissolved in the slurry do not change or affect the characteristics of the compound. Slurries containing fibrous, granular materials and flakes are well suited through attapulgite based suspending materials. During the year 2015, the global oil and gas rigs count stood more than 2000 and is expected to showcase a rapid increase owing to the developments in drilling solutions.
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Moreover, the wide array of applications of this chemical across medical and pharmaceutical, agriculture, and paints and coatings industries has offered considerable push to the global attapulgite market size. According to a study report, the market could exceed USD 600 million in total annual remuneration in the coming years.
Mentioned below are some of the factors expected to influence the industry trends in the coming years.
Distinct product applications
In the product front, the market is segmented into two wide categories, colloidal and sorptive. Colloidal attapulgite is used in the sand bidder foundries that are oil and water-based, for gelling agent, drilling oil-wells, paint thickener, polishes, adhesive viscosity controller, washing powders and polishes. The product is responsible for nearly two-thirds of the total attapulgite industry share and sees extensive use in raw materials.
The oil and gas industry accounts for a considerable share of attapulgite consumption. Large amounts of drilling activities are likely to drive the oil and gas sector, indicating significant future demand of the compound in North America, which has emerged as a profitable revenue pocket due to huge oil and natural gas deposits across the U.S.
Key demand in agriculture
Globally attapulgite can find extensive use in the agriculture sector. The sorptive product type finds use as a carrier in agricultural applications like antidiarrheal, floor absorbent, intestinal medication, and powdered agrochemicals. The product also finds primary usage in vegetable fats and oils for neutralizing and in petroleum refining.
Cat litter absorbents is another major application of this compound that has brought in an appreciable revenue for the total market. The growing trend of feline pets, mainly across the developed economies is a primary driver for product demand across the application.
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Competitive market dynamics
Attapulgite industry players are working towards enhancing the reach of their product to meet the wide demands from the consumers and to gain a competitive edge. In the year 2019, BASF- a Germany based chemicals company executed a process improvement to offer a reliable supply of its attapulgite offerings. The improvements in their Florida site include the expansion of milling and product packaging services for fine gel, coarse gel, and granular materials along with enhanced logistics in shipping the mineral globally. This initiative was aligned with the growing demands of attapulgite in the company’s markets globally.
Other notable attapulgite companies include Russell Finex, Geohellas, Active Mineral International, Jaxon Filtration, Anhui Boshuo, and Gujarat Minechem, among various others.
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