- Attapulgite is a magnesium alumino silicate that contains water. It is utilized as a thixotrope, binder, rheology modifier and anti-settling agent across different applications. The attapulgite market is likely to observe decent growth at around 8.5 percent CAGR by 2020. Rising demand for oil and gas industry is likely to augment the attapulgite market over the coming years.
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The key factors responsible for the growth of the attapulgite market are growth in healthcare sector, rising construction activities and massive expansion in oil and gas industries. However, strict mining regulations for attapulgite are likely to restrain the market.
The attapulgite market can be trifurcated into products, consumers and geographies. The products market can be divided into sorptive grade and colloidal grade. On the basis of consumers, the market is divided into medical & pharmaceuticals, paints & coatings, cat litter absorbent, agriculture, oil & gas and others.
Others includes chemicals, paper and cosmetics. Cat litter absorbent dominated the consumer market. It was followed by oil and gas industry. Geographically, the attapulgite market can be segregated into four key regions, including Asia Pacific, Europe, North America and ROW (rest of the world).
North America was reported to be the largest attapulgite market in 2013. Increasing consumer industries in the region are likely to propel further demand. It was followed by Asia Pacific. Asia Pacific is increasing at a high rate. This can be attributed to industrialization in the emerging countries of China and India.
Growing demand for the attapulgite market also owes to rising demand for attapulgite from various consumer and application sectors.
Information Source: Grand View Research
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