Activated Carbon Market to Grow at CAGR of 5.62% through 2032 – Increasing Investment in The Sustainable Energy Sector
The market for activated carbon is expanding at the fastest rate because of the high need for activated carbon to reduce vehicle emissions. Many production companies are entering into joint ventures and mergers, providing lucrative opportunities for the activated carbon market. Asia-Pacific region will account for the largest market share with revenue growth.
Newark, Oct. 23, 2023 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the activated carbon market will grow from USD 3.91 Billion in 2022 to USD 6.75 Billion by 2032. The activated carbon market is expanding due to the requirement to maintain rigorous water and air quality. Further, many industries are utilizing activated carbon to increase their production capabilities.
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Key Insight of the Activated Carbon Market
Asia-Pacific region to account for the largest market size during the forecast period.
Asia-Pacific region will hold a significant market share due to the rising number of companies involved in manufacturing activated carbon. Further, the concerned authorities are providing incentives that boost activated carbon manufacturing, providing lucrative opportunities for the manufacturers. The development of the activated carbon market will be aided by the increase in government programmes and regulations to deliver potable water to isolated areas of the region.
The granular segment is expected to augment the market during the forecast period.
The form segment is divided into powdered, granular, and others. The granular segment is expected to augment the market during the forecast period. Granular activated carbon is a high-purity type of carbon distinguished by its enormous surface area and employed in numerous liquid and gas phase purification applications. The granules’ usual particle sizes range from around 0.2 mm to 5 mm, with the selection of mesh size depending on the intended application for the material.
The coconut shell segment is expected to augment the market during the forecast period.
The raw material segment is divided into coconut shell, coal, wood, peat and others. The coconut shell segment is expected to augment the market during the forecast period. The activated carbon made from coconut shells enhances product quality. As a source of activated carbon, coconut shell offers several benefits due to its strong mechanical strength and high pore volume.
The liquid phase segment is expected to augment the market during the forecast period.
The application segment is divided into liquid phase and gaseous phase. The liquid phase segment is expected to augment the market during the forecast period. Liquid phase activated carbon is made from a large-scale process, in which groundwater is circulated through one or more vessels containing activated carbon, where dissolved organic pollutants bind to the material. By removing dissolved organic substances, liquid-phase granular activated carbon tanks are frequently used to remediate contaminated water.
The air & gas purification segment will augment the market during the forecast period.
The end-users segment is divided into food & beverages, pharmaceutical & healthcare, automotive, water treatment, air & gas purification and others. The air & gas purification segment will augment the market during the forecast period. Activated carbon has unique properties that help remove volatile organic compounds, odours, gas pollutants, etc. The activated carbon is used in various air conditioners installed in industries, commercial organizations and residential places. Also, activated carbon combats the volatile organic compounds released during industrial processes or from household products.
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Driver: Rising use in different applications
Water purification using activated carbon is the main application for the product. To lessen water pollution, it treats industrial discharge before it is released into natural water bodies. The current increase in air pollution results from rapid industry and rising population. Thus, the alarm has been raised for government officials to develop programmes to reduce air pollution and protect human health because of the rise in deaths from lung diseases. Air filtration using activated carbon is becoming more common in industrial, commercial, and residential settings. Removing unwelcome colour and smell from sugars, syrups, juices, and other condiments is another use in the food and beverage sector. For the anticipated timeframe, the increase in applications will present profitable prospects to market participants.
Restraint: High production cost
The production cost of activated carbon is high. It is typically bought in bulk to bring the price down to USD 4,000 per ton, as retail amounts frequently increase rapidly. Producing activated carbon requires knowledge of chemistry and thermodynamics to create intricate mesh structures from a heated, airless popping of the charcoal or coal used to make it. Thus, the production cost of activated carbon is high due to the technical expertise required in manufacturing.
Opportunity: Rising stringent regulations for curbing water pollution
Local governments and environmental organizations implement strict laws to reduce water pollution on a global scale. Activated carbon will continue to be crucial as the world’s attention turns to environmental rehabilitation and conservation. The demand for activated carbon is increasing due to the implementation of numerous laws and policies to restore and safeguard the environment. Thus, activated carbon is widely employed in a variety of applications that promote environmental cleanliness. Additionally, these activated carbon are helpful in critical situations like PFOS removal, unintentional spills, fire-fighting water, etc., contributing to environmental protection. With the increased attention to sustainability and environmental recovery, demand for these activated carbon will probably rise. Governments have implemented tight regulations and waste treatment standards to reduce pollution due to rising water and air pollution levels. For instance, under certain circumstances, the United States Environmental Protection Agency and government regulatory bodies have suggested activated carbon as one of the best solutions for managing synthetic organic chemicals in drinking water.
Challenges: Demand supply disruptions
The ongoing economic instability in many regions resulting from political unrest and crisis-related sanctions has led to demand-supply disruptions of activated carbon. Uncertain uncertainty and economic downturns can impact consumer purchasing habits and investment choices, which may impact the demand for activated carbons market. Although severe and pervasive, these shortages and supply-chain disruptions have disrupted the market players’ growth rate.
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Some of the major players operating in the Activated Carbon market are:
• CarbPure Technologies
• Cabot Corporation
• Boyce Carbon
• Kuraray Co.
• Donau Chemie AG
• CarboTech AC GmbH
• Haycarb Ltd.
• Kureha Corporation
• Jacobi Carbons Group
• Osaka Gas Chemicals Co. Ltd.
• Oxbow Activated Carbon LLC
• Evoqua Water Technologies LLC
• Hangzhou Nature Technology Co. Ltd.
• Carbon Activated Corporation
• Datong Coal Jinding Activated Carbon Co.
• Sorbent JSC
Key Segments Cover in the Market:
By Raw Material:
• Coconut Shell
• Liquid Phase
• Gaseous Phase
• Food & Beverages
• Pharmaceutical & Healthcare
• Water Treatment
• Air & Gas Purification
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed on a global, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter’s five forces model, attractiveness analysis, product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirements whether they are looking to expand or planning to launch a new product in the global market.
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