The global Activated carbon market was worth more than USD xx billion in revenue in 2018 and is expected to cross USD xx billion in 2023, growing at a healthy CAGR of over xx% during the forecast period.
Activated carbon is an amorphous form of carbon produced by processing (pyrolysis) a variety of high carbon content sources. It primarily functions as an adsorbent and is useful for purification, metal finishing, medical purposes, filters and removal of pollutants, fuel storage, decaffeination and other applications where it selectively adsorbs gases, vapors, or colloidal solids from liquids or gases. Activated carbon is efficient in removal of heavy metals like lead, cadmium, nickel, chromium, zinc and mercury from water. The main commercial product forms of activated carbon are granular, powdered, extruded, and fibers.
Rising need for control of air/water pollution and filtration applications from various industries such as purification, health & beverage processing, pharmaceutical & medical, automotive and other industries is likely to drive the activated carbon market. As activated carbon is a major raw material for these industries, demand for filtration and other applications is expected to fuel the growth of this market. Demand for filtration is actually increasing because of rising population and growing environmental concern over air and water quality in developing countries. Additionally, demand for industrial applications is likely to increase at a greater rate because of an upsurge in demand from these markets. This demand is growing at a higher rate, which in turn will boost consumption of activated carbon.
Drivers and Restraints of Activated Carbon Market
Growing investments in air and water treatment applications in regions like Asia and the Americas are likely to offer tremendous possibilities for activated carbon market in the future. As a result of accessibility to raw material, multinational businesses are investing in resource-rich regions to be able to limit the overall production cost.
Activated carbon has a probability of volatility in supply and price due to its availability as a product of plant sources.
Activated Carbon Market by Region
Asia was the largest consumer of activated carbon and this pattern is anticipated to continue to be identical over the following few years. Consumption in Asia is showing upward trend because of rising concern on environmental pollution in China. China and Japan were the largest consumers of activated carbon in this region. Growing demand for purification, health & beverage processing, pharmaceutical & medical, automotive and other industries will drive activated carbon market in Asia. Consumption of activated carbon in Americas, mainly the US is likely to grow at a reasonable rate next to Asia. Europe is likely to grow at a significant rate due to demand from purification, health & beverage processing, pharmaceutical & medical, automotive, cosmetics industries. Demand from Africa and Middle East was low relatively and is likely to stay same in the next few years.
Top players in this market include Calgon Carbon Corporation, Osaka Gas Co. Ltd, Cabot Corporation, Haycarb PLC, Kuraray Chemical Co. Ltd, KUREHA CORPORATION, Donau Carbon GmbH, Silcarbon Aktivkohle GmbH, and Oxbow Activated Carbon LLC.
The report covers exhaustive analysis on:
- Global Market Segments
- Global Market Size
- Supply & Demand
- Global Market Competitive Landscape
- Production Technology
- Global Market Value Chain
Regional analysis includes:
- Middle-East and Africa
- In depth summary of parent market
- Altering market characteristics in the industry
- Detailed market segmentation
- Historical and forecast market size in terms of volume and value
- Current industry developments
- Competitive landscape
- Strategies of key players and products available
- Potential and niche segments, regions showing promising growth