Market Analysis
The Activated Carbon Market is predicted to touch USD 9,593.97 million at an 8.59 % CAGR between 2020- 2030, as per the recent analysis by Market Research Future (MRFR). Activated carbon, simply put, is an organic compound that is porous and helps to absorb all the impurities. Owing to its alluring features and excellent benefits, it has extensive applications in metal extraction, automotive, industrial chemicals, food and beverage, air purification, and water purification.
Various factors are propelling the global activated carbon market growth. As per the latest MRFR report, such factors include increasing use in air & water purification for its high adsorption capacity and porous structure, increasing use to remove toxic gases, metallic particles, acids, and mercury from oil and coal powered plants, increasing health awareness, and changing lifestyle. Additional factors adding market growth include increasing use in the pharmaceutical industry as an antidote for poisons resulting from the ingestion of toxins, rising environmental pollution, increasing use in the food and beverage industry, and the increasing use of activated carbon filter masks during the ongoing COVID-19 outbreak.
On the contrary, strict rules and regulations that the government has imposed to manufacture and use activated carbon may limit the global activated carbon market growth over the forecast period.
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Market Segmentation
The MRFR report offers an inclusive segmental analysis of the global activated carbon market based on type and application.
By type, the global activated carbon market is segmented into granular activated carbon and powder activated carbon. Of these, the powder activated carbon will lead the market over the forecast period for its extensive use in air purification, gas purification, and water purification applications in different end use industries such as food and beverage, industrial chemicals, automotive, and others. It is likely to touch USD 3800 million by 2023.
By application, the global activated carbon is segmented into metal extraction, automotive, industrial chemicals, food and beverage, air purification, and water purification. Of these, the water purification segment will dominate the market over the forecast period for its extensive use in industrial, residential, and municipal water treatment.
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Regional Analysis
Based on the region, the global activated carbon market report covers the growth opportunities and recent trends across North America, Europe, the Asia Pacific, Latin America & the Middle East and Africa. Of these, the APAC region will spearhead the market over the forecast period. Strong industrial base, the shift of production facilities to emerging economies, rising investments by companies in the automotive sector, and the booming food and beverage, chemicals, and energy industries are adding to the global activated carbon market growth in the region. Besides, the use if activated carbon in the wastewater treatment plant in India and China, growing demand for the latest technologies, and increasing population necessitating the requirement for potable water are also adding market growth.
The global activated carbon market in North America is predicted to hold the second-largest share over the forecast period. The increasing pressure from the government of the US and the EPA over the industries to cut down mercury emissions is adding to the global activated carbon market growth in the region.
The global activated carbon market in Latin America and the MEA is predicted to have substantial growth during the forecast period chiefly for the rising consumption in purification applications and water purification. In Latin America, the global activated carbon market is predicted to touch USD 430 million by 2023.
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Competitive Landscape
The market is highly fragmented, with many global, regional, and various unorganized players. The competitive landscape offers an analysis of the key developments and strategies by the companies operating in this market. The global Activated Carbon Market is mainly driven by the rising demand from the end-use industries, such as automotive and water purification.
Some of the key players operating in the global Activated Carbon are Cabot Corporation, Osaka Gas Chemicals Co., Ltd, Kuraray Co., Ltd, Haycarb (Pvt) Ltd, Kureha Corporation, Donau Carbon GmbH, DESOTEC Activated Carbon, Oxbow Activated Carbon, Silcarbon Aktivkohle GmbH, Karbonous Inc, and Lenntech BV. Cabot Corporation, Osaka Gas Chemicals Co., Ltd, Kuraray Co., Ltd, Haycarb (Pvt) Ltd, and Kureha Corporation.
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