USD 3.4 billion
Report ID: SQSG15B2002 | Region: Global | Published Date: December, 2022 | Pages: 157 | Tables: 97 | Figures: 70
Activated Carbon Market was valued at USD 3.4 billion in 2021, and it is expected to reach a value of USD 5.8 billion by 2028, at a CAGR of 6.2% over the forecast period (2022 - 2028).
Activated carbon, commonly known as activated charcoal, is utilized in a variety of industrial applications, including gas and air cleansing with reuse recovery. Strict emission regulations are the result of growing environmental concerns and awareness. This has led to various producers investing in innovative concepts and creating technology for the use of the product in cleaning and air treatment applications, among others. It is increasingly employed for the treatment of wastewater as well as drinking water, service water, and groundwater.
Adsorption of dissolved organic contaminants and the removal of flavors and odor-altering chemicals are the main functions of the product. The use of activated carbon injection (ACI) technology has made the purification process more affordable. To reduce mercury emissions, these techniques are mostly utilized in cement kilns and power plants. Growing pollution as a result of emissions from product manufacturing has been a key market-driving driver in the global activated carbon market.
US Activated Carbon Market is poised to grow at a sustainable CAGR for the next forcast year.
Global Market Size
USD 3.4 billion
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Global Activated Carbon Market is segmented based on Type, Application, end use, and Region. Based on the Type, the Activated Carbon Market is segmented as Powdered, Granular, and Others. Based on the Application, the Global Activated Carbon Market is segmented as Water Treatment, Air & Gas Purification, Food & Beverages, and Others. By end use, the Activated Carbon Market is segmented into Water and Wastewater Treatment, Air Purification, Food & Beverages, Industrial Chemicals, Pharmaceuticals, Mining, Automotive, Others (Personal Care, etc.). Based on Region Activated Carbon Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Activated Carbon Market Analysis by Deployment Type
Due to the increasing demand for the product from several end-use industries, including water treatment and air & gas filtration, granulated activated carbon (GAC) is the dominating category. GAC can effectively remove impurities from liquids, air, and gases because its particle size is significantly greater than that of powder. GAC is used in the food and beverage sector to purge sweets, syrups, drinks, amino acids, and organic acids of contaminants including odor and color. In order to remove oil, industrial contaminants, heavy metals, and pesticides from wastewater, it is also employed. The granulated form's rising popularity can also be attributed to its simplicity in regeneration and reusability, which promotes global activated carbon market expansion.
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Asia Pacific led the market in 2020, with a value of USD 1.24 billion. Due to China and India being two of the major consumers, particularly for applications involving water treatment, it is anticipated to maintain its dominance during the projection period. The need for pure and safe drinkable water has surged as a result of the exponential population growth in the Asia-Pacific region. The market will expand in part because of the low cost and easy availability of raw materials.
Due to a rise in the demand for applications involving water and air purification, the U.S. dominated the market in North America. The usage of the product for eliminating pollutants including CO2, mercury vapors, and other dangerous gases has increased as a result of regulations the government has placed on the disposal of industrial effluent and gas emissions.
In Europe, the need for applications including water treatment, mercury absorption, and air purification has increased due to strict regulations and norms, as well as government attempts to protect the environment. The usage of activated charcoal by automakers has also been affected by laws, which aim to reduce emissions from cars. The European global activated carbon market is predicted to benefit from many growth prospects as a result.
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Activated Carbon Market Driver
Increasing Demand for Water Treatment Application
Activated Carbon Market Restraint
Hike in Prices Due to Raw Material Shortage
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High levels of competition are a result of the market's large number of multinational players. These businesses eagerly anticipate spending money on R&D to differentiate their products. Governments and businesses are working to promote the product's use in the main end-use industries. Activated carbon market growth is anticipated to be aided by all of these factors over the upcoming forecast period.
Cabot Corporation is one of the businesses that has completely integrated their processes. The processes for obtaining raw materials, making products, and distributing them are all completely integrated. Companies use a full integration strategy to reduce the risk associated with sourcing raw materials and to impose stringent quality standards on production.
Activated Carbon Market Top Player's Company Profiles
Activated Carbon Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Activated Carbon Market Analysis, government rules that are strict on reducing flue gas emissions have driven end-user businesses to include water treatment technology. These elements are anticipated to drive the market for activated carbon. It is projected that as mercury control technology is used in industrial air purification applications, the need for activated carbon will increase.
|Market size value in 2021||USD 3.4 billion|
|Market size value in 2028||USD 5.8 billion|
|Forecast period||2022 - 2028|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
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For the Global Activated Carbon Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Activated Carbon Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Air purification segment held the leading market share of over 40% in 2021. Growing awareness regarding the health benefits of air filtration coupled with regulations such as the Clean Air Act is further anticipated to drive the growth.
The global activated carbon market is projected to expand at a CAGR of 6.2% over the forecast period (2022 - 2028).
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Product ID: SQSG15B2002