Bleaching Clay Market to Exceed US$ 1.86 Bn in 2032 as Demand for Vegetable Oil Skyrockets - Seite 2

Key Takeaways:

• The U.S. bleaching clay market is anticipated to register a CAGR of 8% in the forthcoming years from 2022 to 2032
• China is set to record a CAGR of 7.8% in the near future owing to the increasing demand for hair clay
• Based on end use, the edible oils and fats segment is expected to procure a bleaching clay market share of nearly 83.5% in 2032
• By region, the Europe bleaching clay market is projected to generate a share of about 26.8% by 2032
• The global bleaching clay market is likely to expand at a CAGR of 7.2% between 2022 to 2032, up from 5.3% CAGR between 2017 to 2021

Growth Drivers:

• Surging demand for refined vegetable oil and personal care products is set to fuel the need for bleaching clay in future
• Rising usage of bleaching clay in the decolorizing and processing of mineral oils, margarine, and animal fats is expected to bode well for the market

Restraints:

• Production processes of vegetable oils release large volumes of contaminants and organic solid wastes, which may hinder growth
• Governments of various countries have implemented strict norms to control the usage of ingredients needed to refine oils, which can decline sales of bleaching clay

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Competitive Landscape:

The global market is partially fragmented in nature. The majority of the key players in the market are focusing on broadening their manufacturing capacities across the globe to increase production and cater to the ever-increasing demand from end-use industries.

Meanwhile, a few other key players are engaging in launching new products to expand their pre-existing product range. Some of the international companies are focusing on mergers and acquisitions with start-up firms to strengthen their resources.

For instance,

• In August 2021, Clariant, a renowned specialty chemicals company based in Switzerland, acquired Beraca, a beauty products supplier headquartered in Brazil. The company aims to gain access to the latter's natural materials which are based on the biodiversity of the Brazilian rainforest. It would also enable Clariant to expand its presence in the Care Chemicals business.

Key Companies Profiled by Fact.MR