10.05.18
According to a new research report by the market research and strategy consulting firm, Graphical Research, North America Attapulgite market size is expected to exceed $170 million by 2024.
An upsurge in agricultural activities in the U.S. owing to significant population growth coupled with ease in trade regulations related to exports and this will further bolster the regional agrochemicals demand. The agrochemical sector in the U.S. alone is expected to grow with a decent CAGR of 4.5 percent till 2022 due to increasing agricultural income and rising demand to improve soil health so that field productivity can be increased to satisfy growing food demand. Attapulgite is used as a carrier for powdered and granular agrochemicals besides this it is also used in improving properties of sand-rich soils. This trend will continue and propel the North America attapulgite market growth in the coming years.
Based on product, attapulgite market is classified into colloidal and sorptive grades. Sorptive grades are widely used in agrochemicals, floor absorbents, anti-caking agents, chromatographic absorbents, animal feeds, vegetable oils as well as in petroleum refining. This segment shows a decent growth with almost two percent CAGR over the forecast spell.
On the basis of application, attapulgite is used in various industries such as agriculture, oil & gas, paints & coatings, cat litter absorbents, and others. The others include paper, cosmetics and other industries. Oil and gas segment shows the growth rate of almost two percent in the future. This pertains to increase in drilling activities due to a rise in oil exports from the U.S. Such trend is projected to follow and will upsurge the product market growth in forecast timeframe.
An upsurge in agricultural activities in the U.S. owing to significant population growth coupled with ease in trade regulations related to exports and this will further bolster the regional agrochemicals demand. The agrochemical sector in the U.S. alone is expected to grow with a decent CAGR of 4.5 percent till 2022 due to increasing agricultural income and rising demand to improve soil health so that field productivity can be increased to satisfy growing food demand. Attapulgite is used as a carrier for powdered and granular agrochemicals besides this it is also used in improving properties of sand-rich soils. This trend will continue and propel the North America attapulgite market growth in the coming years.
Based on product, attapulgite market is classified into colloidal and sorptive grades. Sorptive grades are widely used in agrochemicals, floor absorbents, anti-caking agents, chromatographic absorbents, animal feeds, vegetable oils as well as in petroleum refining. This segment shows a decent growth with almost two percent CAGR over the forecast spell.
On the basis of application, attapulgite is used in various industries such as agriculture, oil & gas, paints & coatings, cat litter absorbents, and others. The others include paper, cosmetics and other industries. Oil and gas segment shows the growth rate of almost two percent in the future. This pertains to increase in drilling activities due to a rise in oil exports from the U.S. Such trend is projected to follow and will upsurge the product market growth in forecast timeframe.
