Between 2013 and 2023, the production of Bentonite in the US has exhibited a general decline, with a notable peak in 2014 at 2.04 million metric tons. The years 2015 and 2016 experienced a dip in production, and although there was minor recovery in 2018 and 2019, the trend continued downward from 2020 onwards. By 2023, the production had decreased significantly to 1.3231 million metric tons, representing a -8.59% year-on-year change compared to 2022. Over the last two years, the production trend has demonstrated consistent declines, with the production showing a notable fall, and a CAGR of -6.78% from 2019 to 2023.
The forecasted data from 2024 onwards continues to indicate a downward trajectory, with the production expected to decline further each year, reaching 0.67327 million metric tons by 2028. The five-year forecasted CAGR from 2024 is -10.71%, reflecting a 43.26% reduction in production over the period.
Looking forward, potential future trends to watch for include technological advancements in Bentonite extraction and processing, changes in regulatory policies that may impact production costs, and shifts in demand from key industries that utilize Bentonite, such as oil and gas drilling, construction, and pharmaceuticals. Monitoring global market dynamics and potential substitutes will also be critical in understanding future production trends.
