Insights on Global Activated Carbon Market Size & Share to Reach USD 9245.43 Million by 2028, Exhibit a CAGR of 9.10% | Industry Trends, Value, Analysis & Forecast Report by ZMR
NEW YORK, Aug. 19, 2022 /PRNewswire/ -- As per Zion Market Research study, The global activated carbon market size was worth USD 5,482.50 million in 2021 and is estimated to grow to USD 9245.43 million by 2028, with a compound annual growth rate (CAGR) of approximately 9.10% over the forecast period.
Activated Carbon Market: Overview
Activated carbon is an organic molecule with a porous structure capable of absorbing all contaminants. Activated carbon is typically made from charcoal. They are referred to as activated coal when obtained from coal. In various applications, including municipal drinking water, food & beverage processing, odor elimination, and industrial pollution management, activated carbon is used to clarify liquids and gases. Activated carbon pulls and exists organic compounds from vapor and liquid streams, removing unwanted pollutants. It has a low potential for these compounds but is particularly cost-effective for processing vast quantities of air or water to remove dilute contamination concentrations. Raw materials such as wood, peat, coconut shell charcoal, wood chips, petroleum pitch, phenolic resin, and viscose rayon generate distinct product forms. The benefit of using a significant amount of raw material throughout the production process results in a high carbon yield. Because of its ability to remove particulate and dissolved pollutants, activated carbon is widely utilized in water and sewage treatment. The rising demand for activated carbon for water treatment applications is a critical element driving the growth of the worldwide market. While activated charcoal is often employed in wastewater treatment, the market for activated carbon in the personal care and pharmaceutical industries is also expanding. Because activated carbon plays an important role in removing poison, bacteria, chemicals, and dirt from the skin's surface, various organizations in the personal care sector are shifting toward using activated charcoal in their products. This factor is expected to aid global activated carbon market growth during the forecast period.
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Key Industry Insights & Findings of the Activated Carbon Market Reports:
- As per the analysis shared by our research analyst, the Activated Carbon Market is expected to grow annually at a CAGR of around 9.10 % (2022-2028).
- Through the primary research, it was established that the Activated Carbon Market was valued at approximately USD 5482.50 million in 2021 and is projected to reach roughly USD 9245.43 million by 2028.
- In the coming years, many manufacturing sites in the United States and Europe will be forced to satisfy rigorous new emission regulations for mercury and other hazardous air pollutants.
- The Environmental Protection Agency (EPA) establishes these restrictions under Maximum Achievable Control Technology (MACT) guidelines. This will drive the growth of the global activated carbon market during the coming period.
- Various sectors, such as electricity, iron & steel, and cement plants, constantly need the same raw material, affecting the availability of good grades of coal necessary to generate activated carbon.
- Strict air quality requirements and an expanding number of municipal and industrial wastewater treatment plants have resulted in a strong demand for activated carbon.
- Several activated carbon companies are focused on manufacturing reactivated carbon, which has a cost advantage of 20-30% over virgin activated carbon.
- Asia Pacific is predicted to develop at the fastest CAGR during the projection period. China, India, and Indonesia's chemicals, food and beverage, and energy sectors are seeing substantial expansion, boosting demand for activated carbon in the regional market.
- North America is the world's second-largest region in the global activated carbon market. During the projection period, the US market is expected to have the highest CAGR in the region in terms of value.
- North America's most developed countries are the United States and Canada. In terms of value, the United States held the greatest share of the North American activated carbon market in 2020.
Zion Market Research published the latest report titled "Activated Carbon Market By Type (Powdered Activated Carbon, Granulated Activated Carbon, Others (Pellet Shaped, Bead Shaped, and So On)), By Application (Liquid Phase Applications, Gas Phase Applications), and By Region - Global and Regional Industry Overview, Comprehensive Analysis, Market Intelligence, Historical Data, and Forecasts 2022 – 2028." into their research database.
Industry Dynamics:
Activated Carbon Market: Growth Drivers
- The usage of activated carbon to mitigate pollution is increasing driving market growth.
The rising need for mercury control technologies for different industrial air purification applications is expected to drive the demand for activated carbon. In the coming years, many manufacturing sites in the United States and Europe will be forced to satisfy rigorous new emission regulations for mercury and other hazardous air pollutants. Clinker cement factories, coal-fired power plants, and facilities operating big industrial boilers are examples of these. Sources must fulfill certain emission limitations based on the levels of emissions previously attained by the best-performing facilities. The Environmental Protection Agency (EPA) establishes these restrictions under Maximum Achievable Control Technology (MACT) guidelines. This will drive the growth of the global activated carbon market during the coming period.
Activated Carbon Market: Restraints
- The scarcity of raw ingredients is driving up the price of activated carbon hampering market expansion.
The reliance on coconut shells as a raw material restricts activated carbon generators. Natural disasters, which can limit or destroy raw material production, impede the value chain of activated carbon. As a result, the price of raw materials such as coconut shells has risen. Various sectors, such as electricity, iron & steel, and cement plants, constantly need the same raw material, affecting the availability of good grades of coal necessary to generate activated carbon.
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Global Activated Carbon Market: Opportunities
- Reactivated carbon will provide attractive prospects for manufacturers of activated carbon.
Strict air quality requirements and an expanding number of municipal and industrial wastewater treatment plants have resulted in a strong demand for activated carbon. This has put further strain on activated carbon manufacturers. To address this, several activated carbon companies are focused on manufacturing reactivated carbon, which has a cost advantage of 20-30% over virgin activated carbon. Reactivated carbon is a cost-effective and environmentally beneficial substitute for regular activated carbon.
Global Activated Carbon Market: Challenges
- Low industrial growth as a result of poor economic conditions
The global economic downturn influences industrial growth. Activated carbon is widely employed in various sectors, including chemical, petrochemical, food & beverage, pharmaceutical, mining, and automotive industries, as well as water treatment. Crude oil price fluctuations influence the value chain of the petrochemical, chemical, and associated sectors. The low level of industrial activity directly influences the growth of the global activated carbon market.
Global Activated Carbon Market: Segmentation
- The global activated carbon market is segregated based on type, applications, and regions.
Based on type, the activated carbon market is segmented into powdered activated carbon, granulated activated carbon, and others (pellet shaped, bead-shaped, and so on). The powdered activated carbon sector is expected to grow fastest over the projected period. Because of its distinctive pore structure and high adsorption capacity, the powdered form is the most popular and widely utilized variant, with applications in automotive, pharmaceutical, medical, and food & beverage processing. Rising demand and strict environmental laws are projected to significantly drive this segment's expansion. Granular activated carbon is likewise predicted to increase rapidly throughout the projection period.
Based on application, the market is classified into liquid phase applications and gas phase applications. Gas phase applications dominate the market. In gas phase applications, the activated carbon absorbs hazardous gases, airborne dust, contaminants, and smells. It is utilized in both vehicles and industrial gases. Activated carbon is used in gas phase applications for various functions, including deodorization and filters for industrial air, chemical processing facilities, exhaust emissions, and smoking rooms. It is primarily utilized in automotive and industrial applications to regulate exhaust gas emissions and odor and for solvent recovery. Activated carbon is used in the automated industry to remove ultrafine (UF) particles from air filters. Demand for activated carbon in the automobile sector is projected to be driven by stringent government rules governing flue gas emissions.
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List of Key Players in Activated Carbon Market:
- Osaka Gas Co.Ltd.
- Cabot Corporation
- Kuraray Co. Ltd
- Haycarb Plc
- Kureha Corporation
- BASF Se
- Donau Carbon Gmbh
- Silcarbon Atkivkohle Gmbh
- Prominent Systems Inc.
- Oxbow Activated Carbon Llc.
Key questions answered in this report:
- What are the growth rate forecast and market size for Activated Carbon Market?
- What are the key driving factors propelling the Activated Carbon Market forward?
- What are the most important companies in the Activated Carbon Market Industry?
- What segments does the Activated Carbon Market cover?
- How can I receive a free copy of the Activated Carbon Market sample report and company profiles?
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Recent Development:
- February 2020: The General Carbon Corporation has announced intentions to construct a new activated carbon manufacturing facility in the United States. The new factory will manufacture granular and pelletized activated carbon. This move is expected to assist the firm in meeting the growing demand for activated carbon among consumers worldwide.
Regional Dominance:
- Asia-Pacific dominates the activated carbon market in 2021.
Asia Pacific is predicted to develop at the fastest CAGR during the projection period. China, India, and Indonesia's chemicals, food and beverage, and energy sectors are seeing substantial expansion, boosting demand for activated carbon in the regional market. During the predicted period, North America is also expected to increase considerably. The increase is mostly due to the increased usage of activated carbon in water filtration and air purification applications.
In terms of value, North America is the world's second-largest region in the global activated carbon market. During the projection period, the US market is expected to have the highest CAGR in the region in terms of value. North America has always been a global leader in product innovation and quality. North America's most developed countries are the United States and Canada. In terms of value, the United States held the greatest share of the North American activated carbon market in 2020. Cabot Corporation (US) is a key company in North America that serves a diverse range of clients worldwide.
Global Activated Carbon Market is segmented as follows:
Activated Carbon Market: By Type Outlook (2022-2028)
- Powdered Activated Carbon
- Granulated Activated Carbon
Activated Carbon Market: By Application Outlook (2022-2028)
- Liquid Phase Applications
- Gas Phase Applications
Activated Carbon Market: By Region Outlook (2022-2028)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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