Asia Pacific Attapulgite Market to Record an Exponential CAGR of 9% by 2024
Category: #technology  By Shashie Pawar  Date: 2020-02-14
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Asia Pacific Attapulgite Market to Record an Exponential CAGR of 9% by 2024

According to the Graphical Research new growth forecast report titled “Asia Pacific Attapulgite Market analysis based on Product, End-User, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024”, estimated to exceed USD 180 million by 2024. Attapulgite market will be highly driven by the growing demand for binding, suspending and stabilizing agents in agricultural sector across the Asia Pacific region by 2024. The product is extensively used in agricultural sector as binding agent for fertilizers, as a carrier in wettable granules for agrochemicals such as herbicides and pesticides. Huge agrarian economies in this region such as India, China and Indonesia will generate notable market for attapulgite-based agrochemicals in future years.

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Attapulgite (palygorskite) has exceptional absorption qualities and can absorb up to 200% of its own weight in water owing to its porous structure, lesser density and laminar granules. The product features including: quick solidification after wetting, removal of foul smell and the prevention of bacterial growth makes it an ideal raw material to manufacture pet litter absorbents, especially for indoor animals such as cats and dogs. Additionally, the product helps to restrict the bacteria growth with the help of antibacterial agents and also reduce the dust content. These factors will strongly support palygorskite market growth in forecast timeframe

Colloidal grade will grow with a CAGR exceeding 10% over the forecast period. The product is mainly used to form gel structures in fresh and salty waters. This makes it suitable for the several industrial applications which include binding, suspension, absorbent and reinforcement.

Cat litter absorbents segment led Asia Pacific attapulgite market with a substantial share above 30% in 2017. China is reportedly the second-ranking country in terms of cat ownership and the country’s pet industry is likely to witness a substantial growth in the next seven years. Such trends will positively influence the product demand for producing cat litter absorbents by 2024.

Some significant industry participants include: Ashapura Group, Manek Group, Xuyi Botu Attapulgite, MinTech International, Jaxon Filtration, etc. These small and medium contributors accounted for over 25% of the overall attapulgite market in 2017. Discovery of vast reserves of palygorskite in Xuyi province in China with 890 million tons followed by the government efforts to exploit it, Asia Pacific Attapulgite market will witness robust potential by 2024.

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Segments We Cover:

Asia Pacific Attapulgite Market By Product

  • Colloidal grade
  • Sorptive grade

Asia Pacific Attapulgite Market By End-user

  • Cat litter absorbent
  • Oil & gas
  • Agriculture
  • Paints & coatings
  • Medical & pharmaceutical
  • Others

Browse key industry insights along with Full TOC @ https://www.graphicalresearch.com/table-of-content/1009/asia-pacific-attapulgite-market

About Graphical Research:

Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.

Contact Us:

Parikhit B. 
Corporate sales, 
Graphical Research 
Email: [email protected] 
Web: https://www.graphicalresearch.com

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About Author

Shashie Pawar

Shashie Pawar    

Shashie Pawar is a tech blogger and a digital marketing pro since 3 years and writes for Ground alerts. A Electronics & communication Engineering graduate by education, Shashie offers his analysis on the tech market research landscape. His strong suit is analyzing the...

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