The Global Activated Carbon Market was valued at USD 4.5 Bn in 2020 and is expected to reach USD 10.1 Bn by 2027, with a growing CAGR of 12.2% during the forecast period.
The Global Activated Carbon Market Definition:
Activated carbon, also referred to as activated charcoal is a type of carbon that is processed to have low-volume, small pores for improving the surface area available for chemical or adsorption reactions. Organic materials with high carbon contents such as wood, coal, lignite, peat, petroleum pitch, wood chips, phenolic resin, and viscose rayon and coconut shells are then processed to produce various forms of the product. The gaseous and liquid phases of activated carbon improve its uses in the removal of dissolved radon, lead, mercury, and other odour-causing compounds.
The Global Activated Carbon Market Dynamics:
The activated carbon market is accounted to boost at a significant pace in the forecast period. This growth is majorly owing to the rising awareness regarding the risk associated with consuming contaminated among people. As per WTO, 3,575,000 people die from water-related diseases every year among which approximately 2.2 million are children. Deaths at such an alarming rate due to contaminated water have created the need to develop advanced technologies and products that can help in reducing this contamination level. Moreover, the growing demand for activated carbon from the healthcare industry is also contributing to driving the market growth. Further, increasing automotive ownership is another major factor driving the growth in the global activated carbon industry. The main property offered by activated carbon is the physical adsorption that is helpful in decaffeination, purification, metal finishing, filtering & removal of pollutants, fuel storage, and medicine among many others. Owing to such wide application, the activated carbon market has been gaining traction across the globe.
Despite such strong growth factors, the limited availability of raw materials along with its ineffectiveness in eliminating a few types of chemicals such as sodium, heavy metals, fluoride, and nitrates are posing certain challenges in the growth of the industry. However, the implementation of stringent government regulations & norms for waste treatment and controlling air pollution due to alarming levels of air and water pollution is providing growth opportunities in the activated carbon market. For instance, the Environmental Protection Agency (EPA) along with several government agencies around the globe strongly recommends the use of activated carbon as an ideal material for eliminating chemical impurities like chlorine, mercury, and many others. Such favourable norms are expected to drive the activated carbon market growth during the forecast period.
The Global Activated Carbon Market Segmentation:
By End-Use Industry
The unique insights provided by this report also include the following:
Based on the product, the powdered activated carbon segment held the dominant share in the activated carbon market due to PAC’s high adsorption and unique pore structure capacity
Based on the product, the activated carbon industry is fragmented into granular, powdered, and others. Among these, the powdered activated carbon (PAC) product segment held the dominant share across the globe. This dominant share is due to PAC’s high adsorption and unique pore structure capacity. Owing to this, it is widely used in gas, air, and water purification in several industries such as automotive, food & beverage, and healthcare industries among many others. Hence, the rising demand for wastewater treatment, and water purification across the globe is pegged to garner significant demand for the product over the forecast period.
Based on the end-use industry, the water treatment segment accounted for the largest share in the activated carbon market due to the companies’ efforts across the globe to adopt efficient and environment-friendly water disposal techniques
Based on the end-use industry, the activated carbon industry is segmented into food & beverage processing, water treatment, air purification, automotive, healthcare, and others. Among these, the water treatment segment accounted for the largest share in the industry across the globe. This growth is majorly attributed to the companies’ efforts across the globe to adopt efficient and environment-friendly water disposal techniques. Activated carbon is used for removing the impurities from water through the process of surface adsorption. It is also used for removing colorants & organic-chemical substances to reduce the trace substances like chemicals. Further, using activated carbon for water purification purposes is also the most cost-efficient point-of-use (POU) water purification device. Thereby, owing to the aforementioned factors, the demand for activated carbon is projected to increase from the water treatment segment during the forecast period.
Based on region, Asia-Pacific is expected to be the fastest-growing market in the activated carbon market owing to the economies in the region that have ideal tropical weather for the cultivation of steady coconut
Based on region, the global activated carbon market is divided into North America, Latin America, Asia-Pacific, the Middle East and Africa, and Europe. Among these, Asia-pacific is expected to be the fastest-growing segment in the market across the globe. This high share owing to the economies in the region such as India, Indonesia, Philippines, Malaysia, and Sri Lanka that have ideal tropical weather for the cultivation of steady coconut, hence, making the Asia Pacific region one of the major sources of raw material across the globe. Another major factor attributing to growth in the activated carbon market is the increasing adoption of wastewater treatment owing to the presence of many coals, iron, and steel industries that need fresh water daily. Therefore, the growing number of such industries is expected to have a positive impact on the growth of the activated carbon industry.
The report also provides an in-depth analysis of Activated Carbon market dynamics such as drivers, restraints opportunities, and challenges
Note: Challenges along with in-depth market dynamics analysis is mentioned in the report.
COVID-19 impact on the Activated Carbon market analysis
The Covid-19 pandemic has severely impacted several major economies across the globe resulting in the imposition of lockdown and strict social distancing norms by many nations. This entire lockdown situation in these economies left a major hit on several industries including food & beverage and automotive among others that largely consume activated carbon, thereby negatively impacting the global activated carbon market. However, the pandemic created a high demand for masks across the globe, leading to increased sales of the masks that were made from activated carbon. Additionally, many leading global companies have stepped up to help those in need during the coronavirus pandemic. Companies such as Amazon donated 10 million N95 masks to U.S. medical facilities. Such steps by companies are expected to be instrumental in the growth of the activated carbon industry across the globe.
The report also provides an in-depth analysis of key trends in Activated Carbon market
The report also provides in-depth analysis of recent news developments and investments in the in the Activated Carbon industry
Company Profiles and Competitive Intelligence
The key players operating in the activated carbon industry are:
Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.