Bleaching Clay Market share size & Industry Analysis, By Type (Natural, Activated), By Application (Edible oils & fats, Mineral oils & lubricants, Others) and Regional Forecast, 2019-2028
The global bleaching clay market is set to gain traction from its increasing usage in the production of fats and oils for food applications. As per Statista, the worldwide consumption of palm oil during the period of 2019 to 2020 was 71.9 million metric tons, while soybean oil stood at 56.68 million metric tons. This information is given by Fortune Business Insights™ in a new study, titled, “Bleaching Clay Market, 2021-2028.” As per the study, the market size was USD 280.86 million in 2020 and is projected to reach USD 474.59 million by 2028, exhibiting a CAGR of 6.9% during the forecast period.
Disruptions in Supply-Demand Networks to Impact Growth amid COVID-19 Pandemic
The Food and Agriculture Organization stated that from 2018-19, the global production of oil crops was 612.3 million tonnes. But, it reduced to 584.3 million tonnes during 2019-2020. This occurred because of adverse weather conditions in multiple regions, as well as reduced yields. Also, the COVID-19 pandemic has tightened the supply and demand for oilseeds and other derived products.
Edible Oils & Fats Segment Held the Largest Share in 2020
Based on the application, the market is divided into edible oils & fats, mineral oils and lubricants, and others. Out of these, the edible oils & fats segment held the largest bleaching clay market share in 2020. This growth is attributable to the increasing utilization of the product in the manufacturing of paraffin wax, biofuels, and edible oils.
We have conducted primary and secondary research to collect data about several aspects of this report. Our interviews with end-user and supply side respondents helped in achieving valuable insights into the average pricing, per capita consumption trend, average spending on products, growth rate, market size, and dynamics. We have also taken information from reputed industry journals, articles, and press releases of firms present in the field of bleaching clays.
Browse Complete Summary of research Report: https://www.fortunebusinessinsights.com/bleaching-clay-market-102762
List of the Leading Companies Profiled in the Global Bleaching Clay Market are:
- AMCOL Minerals Europe (United Kingdom)
- Ashapura Group (India)
- EP Minerals (United States)
- Clariant (Switzerland)
- Musim Mas Holdings (Singapore)
- Oil-Dri Corporation of America (United States)
- Taiko Group of Companies (Malaysia)
- Other Key Players
Drivers & Restraints-
Rising Usage in Vegetable Oil Production to Accelerate Growth
Fats and oils must be refined for removing impurities in order to use them in various food items. Fuller’s earth plays a vital role in making them safe for use. Asia Pacific is in the dominant position in terms of global fats and oils production. India is the world’s number one importer of vegetable oil. The country is expected to showcase a per capita consumption of 3.1% per annum by 2028. This factor is likely to boost the bleaching clay market growth in the near future. However, the production process of vegetable oil generates a large number of by-products, contaminants, and of organic solid waste. It may hinder growth.