Activated Carbon Market Size To Grow At A CAGR In The Forecast Period
The ‘Global Activated Carbon Market Report and Forecast 2022-2027’ by Expert Market Research gives an extensive outlook of the global activated carbon market size, assessing the market on the basis of its segments like type, application, feedstock, and major regions.
The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 8%
|Growth Rate CAGR||8%|
|Major Players||Kuraray Co., Ltd., Oxbow Activated Carbon LLC, Haycarb (Pvt) Ltd., Indo German Carbons Limited (IGCL), Shinkwang Chem. Ind. Co., Ltd, S.I.C.A.V. Spa, Century Chemical Works Sdn. Bhd, and Cabot Corporation, among others.|
With the rise in the demand for sewage treatment and water treatment applications, the activated carbon market growth is expected to fuel across the globe over the coming years. Activated carbon filters help to remove contaminations or impurities from wastewater before making it suitable for reuse or releasing it into the environment. This is further expected to push forward the market demand for activated carbon. Wastewater treatment is done by various methods including activated carbon which works by adsorption in which atoms, molecules, or ions stick to the surface of the activated carbon particles.
An increase in the geriatric population coupled with the rising environmental concerns are expected to be the primary aspects positively influencing the activated carbon market growth. Moreover, the increasing applications of absorbents across the processing and food and beverage industries are likely to spur market growth.
Activated carbon has several benefits like cost-effectiveness, easy exclusion of bad tastes, speed, as well as full elimination of unpleasant odours offering long-term stability. Such benefits make activated carbon beneficial in the food and beverage industries.
Activated Carbon Industry Definition and Major Segments
Activated charcoal or activated carbon is a natural type of graphite, and is carbon that has been produced from materials such as coal, willow peat, coir, wood, bamboo, or other carbonaceous sources. It has an imperfect structure that is highly porous at a visible and molecular level. The formation gives activated carbon a vast surface area which lets the carbon adsorb various compounds.
Based on type, the market is segmented into:
• Powdered Activated Carbon (PAC)
• Granular Activated Carbon (GAC)
By application, the market is classified into:
• Water Treatment
• Air Treatment
• Gold Treatment
• Solvency Recovery
By feedstock, the market is segmented into:
• Coconut Shell
Based on region, the market is divided into:
• North America
• Latin America
• Asia Pacific
• Middle East and Africa
Activated Carbon Market Trends
The global activated carbon market is expected to register significant growth on account of the rising technology developments by key market players. Major raw materials utilised for producing activated carbon are resins, coconut shells, viscose rayon, and wood. The carbon yield is high when a massive quantity of raw material is utilised in the manufacturing process thus, a large supply-demand mismatch is likely to cause raw material prices to rise.
Geographically, the North America region is holding a significant segment of the activated carbon market growth during the forecast period on account of the rising automobile demand across the region. Activated carbon filters extract as well as neutralise vapours, odours, and smoke before the AC propels air into the car. Further, the air filters efficiently eliminate gases and chemicals, ensuring that the air in the car stays breathable and fresh.
Meanwhile, the Asia Pacific region is expected to witness significant growth in the activated carbon market share as the region has vast supplies of coconut shell-based activated carbon and coconut shells. Activated carbon is generally utilised for gold mining and water purification applications across the region. Dry coconuts of India are preferred more as compared to other countries in the Asia Pacific region as they contain greater oil content than others.
The presence of major market players like Jacobi Carbons Group, and Haycarb (Pvt) Ltd., among others are further expected to drive the market growth of activated carbon. This is because they supply coconut shells from Asian countries, like Indonesia, Sri Lanka, India, and the Philippines.
Key Market Players
The major players in the global activated carbon market report are:
- Kuraray Co., Ltd
- Oxbow Activated Carbon LLC
- Haycarb (Pvt) Ltd
- Indo German Carbons Limited (IGCL)
- Shinkwang Chem. Ind. Co., Ltd
- S.I.C.A.V. Spa
- Century Chemical Works Sdn. Bhd
- Cabot Corporation
The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players. The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.