Activated Carbon Market is Anticipated to Witness High Growth Owing to Rising Demand

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Activated Carbon Market is Anticipated to Witness High Growth Owing to Rising Demand

The activated carbon market comprises of products such as powdered activated carbon, granular activated carbon, and others.

The activated carbon market comprises of products such as powdered activated carbon, granular activated carbon, and others. Activated carbon finds applications in various end-use industries such as water treatment, food & beverage, pharmaceutical & medical, automotive, and others. It provides advantages such as high surface area, microporous structure, high adsorption capacity, and cost-effectiveness. Activated carbon is majorly used for purification in water treatment applications to remove dissolved compounds including colors, odors, and heavy metals. The need for clean drinking water and stringent environmental regulations regarding wastewater management are some of the major factors increasing the demand for activated carbon from the water treatment industry.

The Global Activated Carbon Market is estimated to be valued at US$ 9.23 Bn in 2024 and is expected to exhibit a CAGR of 9.7% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the activated carbon market are Carbon Activated Corporation, Jacobi Carbons Group, Boyce Carbon, CarbPure Technologies, Cabot Corporation, Kuraray Co., Carbo Tech AC GmbH, Donau Chemicals AG, Haycarb (Pvt) Ltd., Kureha Corporation, Osaka Gas Chemicals Co., Ltd., Evoqua Water Technologies LLC, Oxbow Activated Carbon LLC, Hangzhou Nature Technology Co., Ltd., Datong Coal Jinding Activated Carbon Co., Carb USA, and Sorbent JSC. The key players are involved in capacity expansion, acquisitions, and new product launches to strengthen their market position. For instance, in April 2021, Oxbow Activated Carbon LLC completed the expansion of its activated carbon production facility in Missouri, US.

The growing Activated Carbon Market Demand for water treatment from municipal as well as industrial sectors and stringent government regulations regarding wastewater discharge are expected to offer lucrative growth opportunities for activated carbon manufacturers. Moreover, increasing R&D activities for application development in different end-use industries will further support the market expansion.

North America, Europe, and Asia Pacific are expected to be the major markets for activated carbon during the forecast period. The key players are focused on expanding their global footprint by enhancing their production abilities in high-growth regions including Asia Pacific, Latin America, and Middle East & Africa. For instance, in August 2021, Kuraray expanded its production capability for activated carbon at its Malaysian plant to meet the growing demand from Asia.

Market Drivers and Restraint:

Market Drivers:

Rising demand from water treatment applications owing to stringent regulations regarding wastewater discharge is a major market driver. Activated carbon effectively removes impurities, dyes, and heavy metals from industrial and municipal wastewater. Stringent standards set by regulatory bodies compel industries to opt for advanced water treatment technologies using activated carbon.

Market Restraint:

Volatility in raw material prices acts as a market restraint. Activated carbon is produced from raw materials such as coal, coconut shells, and wood, whose prices fluctuate constantly based on availability. Since activated carbon has limited regenerative properties, manufacturers face challenges in maintaining stable product cost when raw material prices increase frequently. This restrains the market from achieving its full potential.

Segment Analysis

The Activated Carbon Market Size And Trends is segmented into powdered activated carbon, granular activated carbon, and others. Granular activated carbon dominates the market owing to its wider application scope in liquid purification processes like water treatment and purification. It finds use in filtration as it effectively removes volatile organic compounds, tastes, odors, and chlorine from water. Its porous granular structure allows it to be used in pressure vessels easily.

The powdered activated carbon sub segment is expected to witness high growth during the forecast period. This is because powdered activated carbon has better absorption kinetics due to its high surface area. It effectively removes lower molecular weight contaminants and helps in deep bed filtration processes.

Global Analysis

The Asia Pacific region dominates the activated carbon market with a share of over 40%. Countries like China, India, and Japan are major consumers and producers of activated carbon. This is because of the presence of a large number of end use industries like water treatment, food & beverage, pharmaceuticals, automotive, and others in the region. The region is expected to continue its dominance during the forecast period owing to rapid industrialization and growing concerns regarding water pollution control.

Europe is another prominent regional market for activated carbon. Strict environmental regulations regarding waste water treatment drives the demand for activated carbon from industries in the region.

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About Author:

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)