Growing Need for Reducing Air Pollution and Water-Borne Diseases to Increase Growth Rate of Activated Carbon Market across Assessment Period of 2020-2030: TMR

ALBANY, N.Y., Nov. 4, 2020 /PRNewswire/ -- The escalating demand for water filtration and air purification may serve as a significant growth factor for the global activated carbon market during the assessment period of 2020-2030. As many countries across the globe expand their industrial prospects, the environmental hazards due to consistent air pollution are increasing at a rapid pace. Thus, to control the mercury levels, industries are using activated carbon on a large scale. Hence, this factor may bring good growth opportunities.

Activated carbon is a type of carbon. It has minute, less-volume pores. The greater the number of pores, the higher the adsorption capacity of activated carbon. It is prominently derived from carbonaceous raw material. It is extensively used to eliminate organic and non-biodegradable compounds.

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After a thorough and scrutinized analysis of all the factors related to growth, the Transparency Market Research (TMR) researchers expect the activated carbon market to expand at a healthy CAGR of ~8 percent during the assessment period of 2020-2030. The global activated carbon market is prognosticated to reach a valuation of US$ 7.3 bn by the end of the forecast period.

Strict rules and acts imposed by the government bodies of various countries have magnified the demand for air filtration and water filtration. The overwhelming applicability of activated carbon in pharmaceuticals, personal care, water and wastewater treatment, mining, industrial chemicals, air purification, food and beverages, and others may help in increasing the growth rate of the activated carbon market.

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Activated Carbon Market: Analysts Perspective

The analysts at Transparency Market Research (TMR) link the growth of the activated carbon market to factors like heightening focus on wastewater treatment of local bodies across various cities, utilization for ubiquitous applications, and the overwhelming demand for carbon filter masks amidst the COVID-19 pandemic. The analysts advise manufacturers in the activated carbon market to focus on the healthcare sector for increasing their revenue.

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Activated Carbon Market: Vital Findings

• On the basis of value, the coal based segment acquired a significant share of the global activated carbon market in 2019
• The trend of coal based segment being on the forefront is estimated to continue between 2020 and 2030
• In regards to form, the powdered segment held a prominent share in 2019
• Based on application, the water and wastewater segment accounted for a share of more than 30 percent in 2019

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Activated Carbon Market: Growth Propellers

• The escalating demand for activated carbon for treating various pollutants, including ions, dyes, and a series of organic pollutants may bring immense growth prospects for the activated carbon market during the forecast period.
• The rising awareness about the health risks associated with consumption of unfiltered water may increase the demand of activated carbons
• Large-scale investment in water filtration plants across countries like China and India may bring good growth prospects for the activated carbon market

Activated Carbon Market: Growth Dampeners

The frequent trade conflicts across the globe have created a strain on the business landscape. This is leading to constant increase in the prices of raw materials. Thus, this aspect may prove as a growth restraint for the activated carbon market during the forecast period. The utilization of activated carbon in food products may lead to decreased vitamin absorption and gastrointestinal side effects. This aspect may dampen the growth prospects of the activated carbon market to a certain extent.

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By Raw Material

• Coal Based
• Coconut Shell Based
• Wood Based
• Others (including Petroleum Pitch)

By Form

• Powdered
• Granular/Crushed
• Extruded/Pelletized
• Others (including Spherical)

By Application

• Water & Wastewater Treatment
• Air Purification
• Food & Beverages
• Industrial Chemicals
• Pharmaceuticals
• Automotive
• Mining
• Others (including Personal Care)

By Region

• Asia Pacific
• Europe
• North America
• Middle East and Africa
• Latin America

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Glycerol Carbonate Market - In terms of value, the global glycerol carbonate market is anticipated to expand at a CAGR of 7% from 2020 to 2030. Glycerol carbonate is a highly used chemical due to its ideal physicochemical properties such as low toxicity, high stability, good biodegradability, low inflammability, and high boiling point. Glycerol carbonate is used in the production of detergents, owing to various advantages it offers such as improved hand-feel performance, solubility of laundry powders, and reduced pH of wash liquor. Glycerol carbonate is employed as a curing agent in cement and concrete applications. This stops water from evaporating too quickly, thus helping reduce cracking and dusting. It is used as a curing agent in various functions such as maintaining mixing water in concrete during the early hardening process, reducing loss of mixing water from the surface of the concrete, and accelerating strength gain using heat and additional moisture.

Butylene Carbonate Market - Rise in demand for environmentally-safer solvents in various end-user industries such as oil & gas, automotive, and chemical is also augmenting the global butylene carbonate market. Butylene carbonate is an environmentally-safer solvent compared to methylene chloride, acetone, and aromatic solvents. It possesses excellent solvency properties, low VOC, low toxicity, low evaporation rates, and high boiling points. Thus, it is ideal for usage in many solvent applications. Fluctuation in prices of raw materials is expected to hamper the butylene carbonate market during the forecast period. However, rise in demand for hybrid solvents is anticipated to provide lucrative opportunities to manufacturers during the forecast period.

Strontium Carbonate Market - Based on application, the strontium carbonate market can be segmented into pyrotechnics, ferrite magnets, master alloys, paints & coatings, medical, zinc refining, and others. Based on region, the strontium carbonate market can be divided into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific dominates the global strontium carbonate market in terms of volume, due to presence of one of the top producers i.e. China in the region. The region also holds a significant market share in terms of consumption of strontium carbonate.

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About Transparency Market Research

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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