Global Activated Carbon Market – Overview
Market Research Future (MRFR) projects the Activated Carbon Market size is projected to be worth USD 9,593.97 Million by 2030, registering a CAGR of 8.59% during the forecast period (2020 – 2030), The market was valued at USD 4,917.0 Million in 2030. We will provide COVID-19 impact analysis with the report, along with all the extensive key developments in the market post the coronavirus disease outbreak.
The market for activated carbon has boomed due to the rise in the demand for mercury treatment technologies in air purification applications. There are also several businesses which have yet to low their use of different mercury-containing processes and goods. Though not presently in demand, in the near future, technical advances will give rise to increasing demand for activated carbon. Reactivated carbon is cheap and can overcome the high cost associated with traditional activated carbon.
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Global Activated Carbon Market – Prominent Players
Some of the key players operating in the global Activated Carbon are Cabot Corporation, Osaka Gas Chemicals Co., Ltd, Kuraray Co., Ltd, Haycarb (Pvt) Ltd, Kureha Corporation, Donau Carbon GmbH, DESOTEC Activated Carbon, Oxbow Activated Carbon, Silcarbon Aktivkohle GmbH, Karbonous Inc, and Lenntech BV. Cabot Corporation, Osaka Gas Chemicals Co., Ltd, Kuraray Co., Ltd, Haycarb (Pvt) Ltd, and Kureha Corporation.
Top Drivers and Challenges
The activated carbon market can continue advancing rapidly despite the COVID-19 outbreak, given the significant focus on innovations as well as research and development/R&D activities. Following the SARS-CoV-2 onset, there has been a substantial increase in the number of tie-ups between companies, with the common aim to mitigate the financial loss brought on by the pandemic. Although the lockdown has weakened supply chains to a large extent, the demand for advanced activated carbon in numerous industries will remain high in the coming time.
In the post novel coronavirus era, leading firms have started to manufacture activated carbon masks with high performance filter. These products are claimed to be the best method to prevent the spread of SARS-CoV-2. Studies reveal that these activated carbon masks can also boost lung capacity and respiratory muscles. Also, the spike in technology and product innovations, especially post the COVID-19 outbreak, can ensure sustainable market growth over the conjectured period. To illustrate, in March 2020, a researchers group from Texas Tech University developed a decontamination wipe that helps get rid of poisonous components. The wipe can also be used to clean all the body fluids that have been contaminated with SARS-CoV-2.
Strict government standards pertaining to emission control, growing need to curb mercury from the power plants and the mounting for clean water could also work in favor of the activated carbon market. Out of all the end users, activated carbon is widely deployed in sewage treatment plants and potable water purification. The water treatment technology has gained significant traction worldwide, while many firms are striving to uptake eco-friendly water disposal methods, which has been favorable for activated carbon, in terms of demand.
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Growth Inducers and Barriers
Activated carbon’s use in water and sewage treatment is quite extensive, since it helps remove dissolved and particulate impurities. It also gets rid of chlorine and organic impurities from water. It has widespread applications in manufacturing and greenhouses industries for air purification and also for the removal of odors, harmful dust particles and toxic gases. Pharmaceutical and medical, automotive and food and beverage processing industries are some of the key end-use industries in the global market. The growth in water and air pollution is prompting governments to impose stringent water and air pollution control as well as waste treatment norms. The US Environmental Protection Agency (EPA) along with various government agencies recommend activated carbon for the removal of chemical impurities like mercury, which has led to its higher use across industries.
Escalating use of activated carbon in soil remediation applications also boosts market growth across the globe. In the next few years, various production facilities in Europe and the US including clinker cement plants and coal-fired power plants will need to adhere to the strict emissions standards pertaining to mercury and several hazardous air pollutants. This will most likely amplify the demand for activated carbon in the mercury control technology for air purification in the industrial sector.
Activated carbon manufacturers frequently conduct research and development activities using some of the most advanced technologies to come up with innovative activated carbon products that have certain applications. These research and development activities help vendors develop more advanced products for applications like hydrogen sulfide removal, while also outrivaling the product ranges being offered by other companies in the global market. Expansion of production capacity also remains one of the top strategies adopted by the market leaders to remain competitive.
The key segments as per which the market has been studied in the report are type and application.
The key types of activated carbon growth in the market are extruded activated carbon, powdered activated carbon and granulated activated carbon, among others. In 2017, the lead was taken by the powdered activated carbon segment, with a share of 53% and is presumed to attain the fastest CAGR of over 8% in the coming years. The powdered activated carbon market is projected to reach USD 3800 million by 2023-end, given their expanding applications in gas, air and water purification in food & beverage, automotive and industrial chemicals industries.
Metal extraction, air purification, industrial chemicals, automotive, catalyst, pharmaceuticals, water purification and food & beverage are some of the primary application areas of activated carbon. The water purification segment has been in the lead since 2018, seizing a lucrative portion of 36% in the worldwide market.
Activated Carbon Market – Regional Analysis:
Asia Pacific’s share of the global market increased as much as 45%, and expects a growth rate of approximately 9% over the next five years. Larger-scale carbon black production in the region and how this can boost demand in industries like food and beverage, electricity and chemicals in China, Indonesia and India. Indonesia, Sri Lanka and Philippines have a flourishing demand for coconut shell activated carbon, while India is starting to become a robust active carbon market.
North America was the second largest regional market in the world and had the second largest currency as well. Pressure from the Environmental Protection Agency (EPA) has forced carbon manufacturers to create goods that conform with mercury legislation while still producing new products. Because of the increased water filter needs and the complicated air purification needs, the importance of the US activated carbon market has risen. Government agencies are actively working to increase public awareness of the health hazards involved with consuming tainted water, which are also assisting in the market for activated carbon.
Industry/ Innovation /Related News:
August 2020 – A Charcoal Manufacturing Plant was established in Western Cape, in response to the growing concerns with regard to climate change. The key products would be activated carbon alongside biochar and lump wood charcoal.
June 2020 – Calgon Gas, a leading US activated carbon producer, is expected to bolster its manufacturing facilities at the Pearl River Plant to satisfy the growing demand for activated carbon from the US industry. In view of the rising coconut carbon industry, the company is designing a product that is able to perform a wide variety of tasks.
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