Activated Carbon Fiber Market worth $350 million by 2027 - Exclusive Report by MarketsandMarkets™

CHICAGO, Nov. 14, 2022 /PRNewswire/ -- According to the new market research report "Activated Carbon Fiber Market by Type (PAN-based, Pitch-based, Cellulosic Fiber, Phenolic Resin), Application (Solvent Recovery, Air Purification, Water Treatment, Catalyst Carrier), & Region (North America, Europe, APAC, RoW) - Global Forecast to 2027", is estimated to be USD 232 million in 2022 and is projected to reach USD 350 million by 2027, at a CAGR of 8.5% between 2022 and 2027. Factors such as high demand for extended performance and reduced maintenance, growing demand from pollution control and water treatment applications, and increasing need for efficient processes are expected to drive the market's growth during the forecast period.

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Cellulosic fiber is the fastest-growing segment in activated carbon fiber market, in terms of value and volume

PAN, also known as polyacrylonitrile, is a synthetic thermoplastic polymer is expected to be the fastest-growing segment in the cosmetic preservatives market during the forecast period. This growth can be attributed to various factors such as environment friendly nature of cellulosic fiber, easily accessibility to raw material, high strength and superior characteristics.

Air purification segment is expected to grow with the second highest CAGR, both in terms of value and volume during the forecast period

Air purification segment is expected to be the second fastest-growing application of the activated carbon fiber market. There is an increased demand for air purifiers and pollutant removers due to increasing pollution levels worldwide. Therefore, strict government regulations and increased pollution will increase the demand for air purification application of activated carbon fiber market.

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North America is the second-largest region in terms of value in the activated carbon fiber market during the forecast period

North America is the second largest market for activated carbon fiber, in terms of value and volume. The growth of the activated carbon fiber market in North America can be attributed to the presence of leading activated carbon fiber manufacturers, such as CeraMaterials, and HPMS Graphite. North America has undertaken substantial research with regard to manufacturing to understand the revolutionary potential of activated carbon fibers. This, in turn, boosts the demand for activated carbon fiber in the region.

The major Players in activated carbon fiber market includes Toyobo Co., Ltd. (Japan), Kuraray Co., Ltd. (Japan), Unitika Ltd. (Japan), Daigas Group (Japan), Auro Carbon & Chemicals (India), Hangzhou Nature Technology Co., Ltd. (China), Eurocarb Products Ltd. (UK), China Beihai Fiberglass Co., Ltd. (China), Bio-Medical Carbon Technology Co., Ltd. (Taiwan), CeraMaterials (US), and HPMS Graphite (US)

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