Activated Carbon market is projected to grow at a CAGR of 5.0% by 2033: Visiongain Reports Ltd
Visiongain has published a new report entitled Activated Carbon 2023-2033. It includes profiles of Activated Carbon and Forecasts Market Segment by Phase, (Liquid Phase, Gas Phase, Other Phase) Market Segment by Source, (Coconut and Other Nut Shells, Bituminous and Lignite Coals, Petroleum Coke, Other Sources) Market Segment by Type, (Granular Activated Carbons (GAC), Extruded or Pelletised Activated Carbons (EAC), Powdered Activated Carbons (PAC), Charcoal Activated Carbon Cloth (ACC), Other Type) Market Segment by End-Use, (Water Treatment, Food & Beverage Processing, Pharmaceutical & Medical, Automotive, Air Purification, Other End-Use) plus COVID-19 Impact Analysis and Recovery Pattern Analysis (“V”-shaped, “W”-shaped, “U”-shaped, “L”-shaped), Profiles of Leading Companies, Region and Country.
The global activated carbon market was valued at US$4,888 million in 2022 and is projected to grow at a CAGR of 5.0% during the forecast period 2023-2033.
Growth of End-Use Industries
The growth of end-use industries such as water treatment and air purification are one of the key drivers of the activated carbon market. The increasing demand for clean water and air has led to an increased demand for products that can effectively remove impurities and contaminants. Activated carbon is widely used in these industries due to its high surface area and pore structure, which makes it highly absorbent and capable of removing impurities and contaminants from air and water.
For example, in the water treatment industry, activated carbon is used to remove impurities and contaminants from drinking water and industrial water. In the air purification industry, activated carbon is used to remove volatile organic compounds (VOCs), fumes, and odours from the air.
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How has COVID-19 had a significant negative impact on the Activated Carbon Market?
The slowdown in industrial activity and the decline in economic growth due to the pandemic has reduced the demand for activated carbon in certain applications, such as water treatment and food and beverage. The decline in industrial activity has also reduced the demand for activated carbon in the automotive and electronics industries, further impacting the growth of the market.
In conclusion, the COVID-19 pandemic has had a mixed impact on the activated carbon market. While there has been an increase in the demand for activated carbon in certain applications, the pandemic has also disrupted the production and supply of activated carbon, leading to higher prices and reduced availability. The decline in industrial activity and economic growth has also reduced the demand for activated carbon in certain applications, further impacting the growth of the market.
How will this Report Benefit you?
Visiongain’s 270-page report provides 113 tables and 146 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global activated carbon market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Activated Carbon. Get financial analysis of the overall market and different segments including type, end-use, phase, source, and company size and capture higher market share. We believe that there are strong opportunities in this fast-growing activated carbon market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Increasing Demand for Clean Water and Air
The increasing demand for clean water and air is a key driver of the activated carbon market. With the growing awareness about the harmful effects of pollutants on the environment and human health, there has been a growing demand for products that can effectively remove impurities and contaminants from air and water. Activated carbon is one such product that has been increasingly used in industries such as water treatment and air purification.
For example, in the water treatment industry, activated carbon is used to remove impurities such as chlorine, organic matter, and other pollutants from drinking water. This has become increasingly important as the demand for clean and safe drinking water continues to grow, particularly in developing countries where access to clean water is limited.
Stringent Government Regulations
Stringent government regulations are a significant driver of the activated carbon market. Governments across the world are implementing regulations to ensure that the water and air quality meet specific standards, and to reduce the harmful effects of pollutants on the environment and human health. This has led to an increased demand for activated carbon products, which are highly effective in removing impurities and contaminants from air and water.
For example, in the United States, the Environmental Protection Agency (EPA) has implemented regulations regarding the removal of volatile organic compounds (VOCs) from air. These regulations require companies to use activated carbon or other technologies to remove VOCs from air, which has led to an increased demand for activated carbon products in the air purification industry.
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Where are the Market Opportunities?
Growing Demand in Developing Countries
The growing demand for activated carbon in developing countries is a significant opportunity for the activated carbon industry. Developing countries such as India, China, and others in the Asia Pacific region are witnessing rapid industrialization and population growth, which is leading to an increase in the demand for clean water and air. With increasing environmental awareness and the need to comply with stringent government regulations regarding water and air quality, the demand for activated carbon is growing in these countries.
Technological advancements in the activated carbon industry are presenting significant growth opportunities for companies operating in the market. New and improved processes for the production of activated carbon are making it easier and more cost-effective to remove impurities and contaminants from air and water. This, in turn, is driving the demand for activated carbon and creating new growth opportunities for the industry.
For example, the development of new production methods for powdered activated carbon (PAC) is making it possible to produce PAC with a higher surface area and better adsorption properties, leading to improved removal of impurities from water. This has increased the demand for PAC in the water treatment industry and created new growth opportunities for the activated carbon industry.
The major players operating in the activated carbon market are Boyce Carbon, Cabot Corporation, CarboTech AC GmbH, CarbPure Technologies, Evoqua Water Technologies LLC, Haycarb PLC, Jacobi Carbons Group, Kuraray Co., Ltd., Kureha Corporation, Osaka Gas Chemicals Co., Ltd. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
- 11 March 2022, Cabot Corporation introduced new LITX® 93 series of conductive carbon additives (CCA) for use in lithium-ion batteries for electric vehicles (EV), energy storage applications, and consumer electronics. The market for lithium-ion batteries is expected to grow at an exponential rate due to increased consumption of rechargeable batteries and increased EV adoption.
- 15 March 2021, The CarboTech Group (CarboTech), headquartered in Essen, is already regarded as one of the world’s leading producers of high-quality powdered, granulated, and extruded activated carbon for a wide range of applications.
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To find more Visiongain research reports on the Material sector, click on the following links:
- Carbon Fibre Reinforced Plastic (CFRP) Composites Market Report 2022-2032
- Carbon Dioxide (CO2) Enhanced Oil Recovery (EOR) Market Report 2022-2032
- Carbon Capture & Storage (CCS) Market Report 2022-2032
- Carbon Black Market Report to 2031
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Visiongain is one of the fastest-growing and most innovative independent market intelligence providers around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports, which cover 10-year forecasts, are hundreds of pages long, with in-depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets with a lot of synergies. These markets include automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customised and syndicated market research reports offer a bespoke piece of market intelligence customised to your very own business needs.
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