Attapulgite Market size is slated to surpass USD 600 million by the end of 2024. Increasing trend of domesticating pet animals, especially cats, will enhance the cat litter absorbents industry in the considered forecast spell, hence augmenting the global attapulgite market which is a principal raw material. It exhibits superior absorbing qualities owing to the products highly porous structure, and soaks cat urine effectively through its mineral layers. Litter absorbents made from attapulgite clay have antibacterial traits, efficient odor control properties, and are easy to use and dispose. Moreover, global shift towards the usage of natural products, will also have a positive influence on the global attapulgite market up to 2024. Global cat litter absorbent industry recorded around USD 5 billion in 2015 and will likely reach around USD 7 billion by 2024.
Global attapulgite market finds application in oil & gas, agriculture, paints & coatings, pharmaceuticals, and cat litter absorbent industries due to the products excellent absorbing properties and highly porous structure.
Cat litter absorbent industry will hold sway the global attapulgite market in the upcoming years with an estimated gain at over 8% CAGR up to 2024. Increasing feline pets in the developed countries will likely have a noteworthy effect on this application segment throughout the considered forecast spell.
Increasing offshore drilling activities to meet the global petrochemical demand will also enhance the overall attapulgite market, designating the oil & gas end-user industry as a highly developing sector in the coming years. This segment will witness growth at around 9% CAGR in the next eight years.
Significant deposit of the clay mineral in the U.S. made North America a notable regional market with over a third of the global attapulgite market size. The region is set to witness growth at over 7% CAGR in the considered forecast spell. In terms of demand, Asia Pacific will witness a high growth at more than 9% CAGR owing to increasing industrialization and purchase parity of the regional population.