From 2013 to 2023, the data on bentonite sold or used for drilling mud in the US showcases significant variability with notable peaks and troughs. In 2013, the volume was 932 thousand metric tons, peaking in 2014 at 1,240 thousand metric tons, followed by a notable dip in 2015 to 929 thousand metric tons. The value further decreased to 768 thousand metric tons by 2016, then saw a slight recovery to around 833 thousand metric tons in 2017. However, from 2018 to 2023, the trend remained relatively stable with a slight declining trajectory, concluding at 776.4 thousand metric tons in 2023.
Year-on-year variations over the last two years show a consistent decline, with a decrease of -1.16% in 2022 and -1.15% in 2023. The Compound Annual Growth Rate (CAGR) for the past five years is at -0.99%, highlighting a consistent downward trend.
The forecasted data from 2024 to 2028 indicate a continuation of the declining trend. The volume is projected to decrease from 766.47 thousand metric tons in 2024 to 729.16 thousand metric tons in 2028. The expected CAGR for this period is -0.99%, suggesting a steady but moderate decline.
Future trends to watch for include potential shifts in drilling technology, environmental regulations impacting drilling practices, and changes in demand due to shifts in the energy market. Monitoring these factors will be crucial in anticipating future market dynamics for bentonite used in drilling mud.
