Wood Activated Carbon Market SWOT & PESTAL Analysis, Russia Ukraine War Impact and Forecast 2030
The wood activated carbon market size is estimated to increase due to the growing demand for water treatment due to its lower carbon content, non-toxicity, low impurities, high porosity, and other properties. Fortune Business InsightsTM has presented this information in its upcoming report titled, “Wood Activated Carbon Market, 2022-2029”. Additionally, the wood activated carbon’s macro and mesopores aid in the decolorization of liquids and water. It is widely used in a variety of applications, including food & beverage decolorization, water treatment, surface & wastewater treatment, and others.
COVID-19 Impact –
The emergence of COVID-19 is expected to hold down investments in the water sector around the world, with a few exceptions. The high cost of downtime and operational reliability has become more important than ever. Furthermore, the COVID-19 shock hit the world’s poorest people on top of substantial urban water and sanitation service shortfalls, implying a potentially overwhelming load to contain the virus.
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On the basis of form, the wood activated carbon industry is bifurcated into powdered and granular. On the basis of end-user, the market is fragmented water treatment, air treatment, food & beverages, pharmaceuticals, and others. Geographically, the market is classified into Asia Pacific, Latin America, Europe, North America, and the Middle East &Africa.
Report Coverage –
The report examines the changing competitive landscape in great detail. It provides a forward-looking view of the various factors that impact or limit the market growth. It gives a seven-year forecast for the wood activated carbon industry based on growth forecasts. Furthermore, the research provides a holistic perspective of the industry and supports market participants in making better business decisions by giving an in-depth study of different market segments. Finally, the study examines COVID-19’s overall influence on the industry.
Drivers & Restraints –
Water Purification Efforts To Promote Market Growth
The wood activated carbon market share is predicted to increase due to rising demand for wood activated carbon for water treatment, which is ascribed to its non-toxicity, high porosity, reduced carbon content, decreased impurity content, and other factors. Water contamination and a shortage of safe drinking water are problems in several economies. In such economies, an increase in water-purification efforts will promote market growth. Furthermore, government restrictions governing the content of inorganic salts and disinfectants in drinking water are expected to dramatically boost demand for wood activated carbon.
However, environmental worries about deforestation exist. Forests are the primary supply of wood and are heavily exploited for charcoal production. This is expected to be a stumbling block to market expansion.
Regional Insights –
Asia Pacific to Hold the Largest Chunk of the Global Market
In terms of both production and consumption, Asia Pacific is predicted to have the greatest share of the market owing to rapid industrialization and high demand for food & beverages. North America is predicted to increase significantly as a result of the strict regulations governing the quality of clean potable water. The demand for surface and water treatment applications is likely to drive the wood activated carbon market growth in Europe. By the end of the projected period, Latin America and the Middle East and Africa would be experiencing slow development.
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Various Growth Strategies to Be Adopted By Major Players in the Industry
Haycarb, Ingevity Corporation, and Kuraray are major players in the wood activated carbon market. Additionally, as part of their global expansion plans, these prominent companies are employing several growth strategies such as mergers, acquisitions, and expansions to gain a leading edge over the market.
October 2020: Activated carbon sales were reorganized by Cabot Corporation.
List of Key Players in the Market:
- Acuro Organics Ltd
- Chemtex Speciality Ltd
- Jacobi Carbons
- Kuraray Co. Ltd.
- Fujian Zhixing Activated Carbon Co.Ltd.
- Cabot Corporation
- D&R Corporation
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