Growth in automobile ownership rates, health risks regarding drinking impure water, and surge in manufacturing & environmental standards have boosted the growth of the global activated carbon market.
PORTLAND, Ore., May 16, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Activated Carbon Market by Product Type (Powdered Activated Carbon, Granular Activated Carbon, Others), by Application (Liquid Phase, Gaseous Phase), by End-use Industry (Water Treatment, Food & Beverage, Pharmaceutical & Medical, Automotive, Air purification, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030". As per the report, the global activated carbon industry was accounted for $3.2 billion in 2020, and is expected to reach $5.8 billion by 2030, growing at a CAGR of 6.3% from 2021 to 2030.
Drivers, restraints, and opportunities
Growth in automobile ownership rates, health risks regarding drinking impure water, and surge in manufacturing & environmental standards have boosted the growth of the global activated carbon market. However, environmental factors and rise in prices of raw materials hinder the market growth. On the contrary, rise in demand for mercury control technology for industrial air purification applications would unlock lucrative opportunities in the future.
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Covid-19 scenario:
- The Covid-19 pandemic negatively affected the industrial sector due to decline in production of activated carbon and reduced investment opportunities in water treatment industries.
- The price of raw materials such as coconut shells increased during the pandemic and the prolonged lockdown disrupted the supply chain. However, as the world is slowly recovering from the pandemic, the market is expected to get back on track soon.
The liquid phase segment held the largest share
By application, the liquid phase segment held the largest share in 2020, accounting for nearly three-fifths of the global activated carbon market, due to rise in demand for wastewater treatment, food grade applications, groundwater remediation, chemical purification, portable water treatment, and removal of odor-causing compounds. However, the gaseous phase segment is expected to register the highest CAGR of 6.8% during the forecast period, as the process is easy to adapt to rapid changes in quality and quantity of the leachate.
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The water treatment segment dominated the market
By end-user industry, the water treatment segment held the lion's share in 2020, contributing to more than two-fifths of the global activated carbon market, due to surge in water scarcity and industrialization across the globe. However, the automotive segment is estimated to manifest the highest CAGR of 7.7% from 2021 to 2030, as carbon lattice structure allows greater adsorption capabilities and high gasoline working capacities for emission regulations.
Asia-Pacific held the largest share
By region, the global activated carbon market across Asia-Pacific dominated in 2020, holding nearly two-fifths of the market. In addition, the market across Asia-Pacific is projected to portray the highest CAGR of 7.5% during the forecast period, owing to high demand for activated carbon from the automotive sector and in developing countries such as India, China, and others. The report analyzes the market across other regions such as North America, LAMEA, and Europe.
Major market players
- CLARINEX Group
- Carbon Activated Corp.
- Cabot Corporation
- ADA-ES, INC.
- Jacobi Carbons AB
- Siemens Water Technologies Corp.
- Kureha Corporation
- Calgon Carbon Corporation
- Carbo Tech AC GmbH
- Carbon Resources LLC
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