Activated carbon market, growth, Trends, Revenue analysis, Forecast...

Activated carbon market, growth, Trends, Revenue analysis, Forecast Till 2022-2030

Posted 2023-04-24 09:02:27

Market Overview

Activated Carbon Market Size was valued at USD 5.39 billion in 2021. The Activated Carbon market industry is projected to grow from USD 5.91 Billion in 2022 to USD 10.62 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.61% during the forecast period (2022 - 2030).

Market Dynamics

The market for activated carbon has boomed due to the rise in the demand for mercury treatment technologies in air purification applications. There are also several businesses which have yet to low their use of different mercury-containing processes and goods. Though not presently in demand, in the near future, technical advances will give rise to increasing demand for activated carbon. Reactivated carbon is cheap and can overcome the high cost associated with traditional activated carbon.

A shortage of many important raw materials such as coconut shell, timber, and charcoal are obstacles that impede the Activated Carbon Market. A changing crude oil price will impact the supply chain of petrochemical, pharmaceutical, and related industries, which is another challenge due to be faced by activated carbon manufacturers in the coming years.

The COVID-19 outbreak has pushed down the rates of use of activated carbon in countries around the globe. This has created a lack of essential raw materials, including coconut shells and timber. This pandemic has affected the market for water treatment and air purifiers, but has raised the demand for activated carbon. Increasing demand for water treatment systems and dewatering equipment in consideration of the strict public health rules and guidelines as well as the high need for a hygienic atmosphere will benefit the activated carbon industry. If the reach of the activated carbon application post-SARS-CoV-2 grows, the activated carbon industry will continue to be in demand.

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Segmental Analysis

granular activated carbon and Powder activated carbon are the two significant types of activated carbon in the global market. The powdered activated carbon type is the dominant segment, having secured a share of 53% in 2017 and can soar at the fastest rate of more than 8% to touch USD 3.8 billion by 2023-end.

Water purification, food & beverage, air purification, metal extraction, automotive, industrial chemicals are some of the major application segments of activated carbon. In the lead is the water purification segment, as it accounted for the biggest share of 36% in the year 2017, owing to the surging use of activated carbon in residential, industrial and municipal water treatment.

Regional Analysis

Asia Pacific's share of the global market increased as much as 45%, and expects a growth rate of approximately 9% over the next five years. Larger-scale carbon black production in the region and how this can boost demand in industries like food and beverage, electricity and chemicals in China, Indonesia and India. Indonesia, Sri Lanka and Philippines have a flourishing demand for coconut shell activated carbon, while India is starting to become a robust active carbon market.

North America was the second largest regional market in the world and had the second largest currency as well. Pressure from the Environmental Protection Agency (EPA) has forced activated carbon costs to create goods that conform with mercury legislation while still producing new products. Because of the increased water filter needs and the complicated air purification needs, the importance of the US Global Activated carbon market has risen. Government agencies are actively working to increase public awareness of the health hazards involved with consuming tainted water, which are also assisting in the market for activated carbon.

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Competitive Analysis

The competition in the industry is high, and the number of global and regional vendors is growing each year. Many companies are engaged in study of different activated carbons in various forms to research diverse applications of them. There are a variety of other tactics implemented by the players for retaining the industry's lead.

Major players in this market are Prominent Systems Inc. (US), Silcarbon Aktivkohle GmbH (Germany), Donau Carbon GmbH (Germany), Haycarb (Pvt) Ltd (Sri Lanka), Kuraray Co. Ltd (Japan), Cabot Corporation (US), Osaka Gas Chemicals Co. Ltd (Japan), Kureha Corporation (Japan), Oxbow Activated Carbon (US), DESOTEC Activated Carbon (Belgium), and Lenntech BV (the Netherlands).

Industry Updates

August 2020 – A Charcoal Manufacturing Plant was established in Western Cape, in response to the growing concerns with regard to climate change. The key products would be activated carbon alongside biochar and lump wood charcoal.

June 2020 - Calgon Gas, a leading US activated carbon producer, is expected to bolster its manufacturing facilities at the Pearl River Plant to satisfy the growing demand for activated carbon from the US industry. In view of the rising coconut carbon industry, the company is designing a product that is able to perform a wide variety of tasks.

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