LONDON, Nov. 30, 2016 /PRNewswire/ -- The global bleaching clay market is expected to reach USD 1.09 billion by 2024, according to a new report by Grand View Research, Inc. Bleaching clay plays an important role in refining, lightening, and decolorizing edible oil. The increasing production of refined vegetable oil is one of the key factors driving the market demand. Bleaching clay is also used for removal of phospholipids, sulfuric acid, sludge, sulfonic acid, free fatty acids, and traces of metal in oils. Besides these applications, it is used in effluent treatment plants and as an ingredient in cosmetic products.
Higher oilseed crop yield and technological developments are expected to increase the demand for bleaching clay consumed in the edible oils & fats application segment. The growing demand for baby lotions & emollients coupled with recycling of lubricants & waste oils is projected to drive the mineral oils & lubricants segment.
Most of the manufacturers are engaged in mining activities in order to maintain an efficient supply chain and gain a competitive edge in the market.Certifications such as Kosher, HACCP, and Halal provide the competitive advantage to the players.
Further key findings from the report suggest:
The global bleaching clay market demand exceeded 1,750 kilo tons in 2015 and is expected to exceed 2,600 kilo tons by 2024, growing at a CAGR of 4.6% from 2016 to 2024
Edible oils & fats emerged as the leading application segment and accounted for over 80% of total market volume in 2015. The segment is primarily influenced by the growing vegetable oil production in Asia Pacific and Americas.
Asia Pacific is projected to grow at the highest growth of 5.2% over the forecast period on account of the increasing palm oil production in Indonesia, Malaysia, China, and India
Rising oilseed crop yield on account of technological developments, better fertilizers, and subsidiaries given by the government to promote farming activities is projected to positively impact the vegetable oil industry, which in turn is anticipated to increase the amount of bleaching clay consumed in the region
Backward integration is one of the major strategies adopted by companies operating in this market to ensure unlimited access to mines and maintain a continuous supply of raw materials
Major companies operating in the market space include BASF SE, Clariant International AG, Oil-Dri Corporation of America, Taiko Group of Companies, Musim Mas Holdings, and AMCOL Specialty Minerals among others
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