Activated Carbon Market Growing Rapidly with Recent Trends, Development, Revenue, Demand and Forecast to 2030
The global activated carbon market size was valued at USD 4.77 billion in 2021 and is expected to reach a valuation of USD 4.98 billion in 2022. The market is expected to reach USD 7.73 billion by 2030 with a CAGR of 5.6% during the forecast period. Rise in water and air pollution is expected to increase the demand for water and air treatment machines. Demand for safe and potable water and continuous treatment of wastewater in various end-user industries is expected to drive market growth. Fortune Business Insights™ shares this information in its report titled “Activated Carbon Market, 2022-2030.”
Cessation on Various End-user Industries Affected Market Growth during the Pandemic
Recent outbreak of coronavirus resulted in reduction of productivity of global production activities. There has been alt on various end-user industries such as water treatment, air & gas purification, food & beverage, and others. Halt on industrial, commercial, and residential sectors affected the market growth.
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List of Key Players Profiled in the Report
- Osaka Gas Chemicals Co., Ltd. (Japan)
- Donau Carbon GmbH (Germany)
- Cabot Corporation (U.S.)
- PURAGEN ACTIVATED CARBONS (U.S.)
- CARBOTECH AC GMBH (Germany)
- Kuraray Co., Ltd. (Japan)
- KUREHA CORPORATION (Japan)
- Activated Carbon Technologies (Australia)
- Silcarbon Aktivkohle GmbH (Germany)
- Ingevity (U.S.)
- Iluka Resources (Australia)
- James Cumming & Sons (Australia)
- Universal Carbons (India)
- Carbon Activated Corporation (U.S.)
- Tronox (U.S.)
- Active Char Products (India)
- Adsorbent Carbons (India)
- Genuine Shell Carb (India)
- Indo German Carbons (India)
Granular Segment to Lead the Segment Due to Application in Various End-user Industries
On the basis of type, the market is segmented into powdered, granular, and others. Granular Activated Carbon (GAC) is expected to be the fastest growing segment due to its high demand in various end-user industries such as air & gas purification and water treatment. Growing demand for GAC is due to its easy reusability and regeneration which is expected to increase the market share of the segment.
Powdered Activated Carbon (PAC) is also anticipated to have a considerable growth due to its major application in water treatment.
Water Treatment Segment to Dominate Owing to its Ability to Adsorb Various Compounds
On the basis of application, the market is segmented into water treatment, air & gas purification, food & beverage, pharmaceutical & healthcare treatment, and others. The water treatment segment will lead the market due to its ability to adsorb organic compounds, oils, toxic substances, and odor & taste compounds. It is widely used owing to its high porosity. The food and beverage segment is also expected to have a considerable growth owing to increasing attention of consumers toward food safety and quality.
Regionally, the market is grouped into North America, Europe, Latin America, and the Middle East & Africa.
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The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market’s key players.
Drivers and Restraints
Rise in Water and Air Pollution to Thrust Product Demand
Growing need for safe and potable water is projected to drive the activated carbon market growth. Development in the market is attributed to the property of the product having a high surface area for adsorption that can remove impurities such as taste, odor, microbes, and oils imparting substances. Increasing levels of water and air pollution have proposed government authorities to treat industrial water waste. This is applicable in various industries, such as paper & pulp, paints & dyes, and chemicals, to install water treatment units.
However, high prices of raw materials due to shortage are anticipated to hinder market development.
Demand for Safe and Potable Water to Thrust Market Growth in Asia Pacific
Asia Pacific is anticipated to dominate the activated carbon market share due to rising need for safe and pure water. Valuation of the region stood at USD 1.98 billion in 2021. Exponential increase in the population has increased the demand for safe and potable water. China and India are the major countries that require water treatments.
In North America, market is likely to propel owing to increasing demand for air and gas purification applications in the U.S.
In Europe, stringent rules and regulations for safeguarding of environment, including water treatment are expected to propel the demand for activated charcoal.
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Key Players to Expand Market Owing to Partnership and Acquisition Strategies
Market players have used acquisition and new product expansion strategies. Cabot Corporation and Kuraray Co., Ltd. have used these strategies to widespread their presence globally. These companies serve in numerous end-user industries which is anticipated to boost market growth. Osaka Gas Chemicals Co., Ltd. uses and develops various technologies to meet consumer needs.
Detailed Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Market Trends in the Global Market
- Key Developments: Mergers, Acquisition, Partnership, etc. .
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Qualitative Insights Impact of COVID 19 on Global Activated Carbon Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Global Activated Carbon Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type
- By Application
- Water Treatment
- Air & Gas Purification
- Food & Beverage
- By Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- By Type
Key Industry Development
- March 2021- Cabot Corporation launched the new ENERMAX 6 carbon nanotube series. This series is set to enhance the battery performance and higher density of energy in batteries. It is also proposed to lower the internal resistance of direct current of battery cell.
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