Activated Carbon Market size was estimated at US$ 3.2 Bn in 2021 and is expected to hit around USD 5.8 Billion by 2030, poised to grow at a CAGR of 6.9% during the forecast period 2022 to 2030.
Activated carbon is used to increase the amount of surface area open to chemical reactions and adsorption. It is modified carbon with minuscule, small holes. Activated carbon is generated by processing organic material having a high carbon concentration. Physical adsorption, which is activated carbon's main characteristic, makes it useful for various processes, including filtration, decaffeinating, metal polishing, medicine, removing contaminants, and storing fuel. The liquid and gaseous phases of activated carbon can all be used to eliminate lead, dissolved radon, mercury, and other odor-causing chemicals.
Consumers are getting more aware of the health dangers involved with drinking polluted water. The market for activated carbon is expanding thanks to advancements in water treatment, rising car ownership rates, and tighter manufacturing and environmental regulations. The investment in water purification facilities by many nations, particularly China and India, raises the need for activated carbon. The growth of the activated carbon market is driven by increased government initiatives involving industrialization and subsidies.
Market Dynamics
Drivers:
The growing demand for mercury control technologies for various industrial air purification applications is expected to increase the demand for activated carbon. In the upcoming years, several production sites in the US and Europe will have to adhere to strict new emission regulations for mercury and other harmful air pollutants. These include facilities running big industrial boilers, coal-fired power plants, and clinker cement mills. Sources are obliged to adhere to strict emission limitations that are based on the emission levels already attained by the best-performing facilities. Under Maximum Achievable Control Technology (MACT) regulations, the Environmental Protection Agency (EPA) has placed certain restrictions.
Restraints:
A limitation for manufacturers of activated carbon is their dependence on coconut shells as a raw source. Natural disasters that might hinder or lower raw material production are a barrier to the value chain of activated carbon. Raw materials like coconut shells are now more expensive as a result of this. The ongoing demand for the same raw material from numerous industries, including cement, iron and steel, and power plants, has an impact on the supply of the necessary grades of coal needed to make activated carbon.
Opportunity:
A strong demand for activated carbon has been caused by strict rules pertaining to the maintenance of air quality and an increase in the number of municipal and industrial wastewater treatment plants. This has put more pressure on those that make activated carbon. Reactivated carbon, which costs 20–30% less than virgin activated carbon, is being produced by numerous activated carbon manufacturers in an effort to combat this. Traditional activated carbon can be replaced by reactivated carbon, which is more affordable and environmentally beneficial.
Key players:
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CarbPure Technologies
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Boyce Carbon
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Cabot Corporation
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Kuraray Co.
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CarboTech AC GmbH
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Donau Chemie AG
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Haycarb (Pvt) Ltd.
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Jacobi Carbons Group
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Kureha Corporation
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Osaka Gas Chemicals Co., Ltd.
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Evoqua Water Technologies LLC
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Oxbow Activated Carbon LLC
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Carbon Activated Corporation
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Hangzhou Nature Technology Co., Ltd.
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Datong Coal Jinding Activated Carbon Co.
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CarbUSA
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Sorbent JSC
Market Segmentation:
Activated Carbon Market, By Product Type
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Powdered Activated Carbon
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Granular Activated Carbon
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Others
Activated Carbon Market, By Application
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Liquid Phase
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Gaseous Phase
Activated Carbon Market, By End-use Industry
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Water Treatment
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Food & Beverage
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Pharmaceutical & Medical
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Automotive
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Air purification
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Others
Activated Carbon Market, By Region
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North America
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Europe
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Asia-Pacific
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Latin America
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Middle East & Africa (MEA)
Regional Analysis:
According to value, North America is the second-largest market in the world for activated carbon. During the projection period, the US market is anticipated to have the highest CAGR in area in terms of value. Regarding product advancements in terms of quality, North America has been a global leader. The most developed nations in North America are the United States and Canada. In terms of value, the US held the greatest market share for activated carbon in North America in 2020. One of the key businesses in North America, Cabot Corporation (US) serves a variety of clients across the globe. Key competitors that are fiercely competitive in terms of product offerings make up the activated carbon market in the vicinity of numerous large cities.
Scope of the Report:
|
Report Coverage |
Details |
|
Base year |
2021 |
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Forecast period |
2030 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.9% |
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YoY growth (%) |
XX% |
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Regional analysis |
North America, Asia Pacific, Europe, Latin America, the Middle East, and Africa |
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Current Market size |
USD 3.2 Billion |
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Forecast market growth |
USD 5.8 Billion |
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Market Size Estimation
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In the top-down technique, the market is divided into segments based on the percentage share of each segment. This method assisted in determining the size of each segment's market. The market size of each segment and its sub-segments was then divided into regional market sizes. This Approach helps mainly with the new Product Launch. It uses Multi-variate Regression Model coupled with Vendor based primary research inputs to forecast to the Market Size.
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