Powdered Activated Carbon Demand to Burgeon at 7.5% CAGR, Contributing Over 51% of Total Sales
Fact.MR's recent report presents meaningful insights on the activated carbon market for the upcoming decade. It illuminates prominent trends that are shaping the market across several segments, classified by product, phase, and end-use. The report also provides in-depth analysis of the opportunities, limitations, and competitive landscape.
NEW YORK, Sept. 8, 2022 /PRNewswire/ -- The global activated carbon market is expected to reach a valuation of US$ 4 billion by 2031. Analysts anticipate that the market will grow at a CAGR of 5% during the forecast period from 2021 to 2031.
Activated carbon's characteristic property of high absorption makes them useful in various types of filtration and purification processes. It is widely used in water and sewage treatment plants. The need for clean and useable water is bound to keep rising in developing and developed countries alike, which is likely to spearhead growth in the activated carbon market.
According to the report, the market for powdered activated carbon (PAC) that is used in water treatment plants, is projected to expand at a CAGR of 7% during the analysis period. Likewise, activated carbon is also used in containing hazardous gas-based industrial pollutants before releasing them into the atmosphere.
It absorbs mercury, hydrogen sulfide, and chlorine to leave behind less harmful air. The demand in this sector is expected to keep rising as many countries have strict regulations for treating industrial pollutants. These applications are also driving growth in the activated carbon market.
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Furthermore, activated carbon also has numerous applications in food and beverage processing, pharmaceutical, cosmetics, and even automotive industries. In the food and beverage industry, activated carbon is used to remove undesirable substances such as amino acids, toxic components, and other odor & color producing particles.
Regionally, Asia Pacific is considered to be the fastest-growing market for activated carbon, due to rising investments by key companies and application in water treatment. In addition, major corporations are shifting their production services to this region, which will most likely boost demand in this market.
Key Takeaways:
- The global activated carbon market is estimated to generate sales of US$ 4 billion by 2031, growing at a CAGR of 5%.
- By application, the water treatment segment is likely to be the most rewarding in the global activated carbon market.
- Europe and North America, collectively, are expected to account for over 2/5th of sales in the global market.
- China is expected to be the most remunerative activated carbon market owing to the rising application in pharmaceutical and food & beverage industries.
- In terms of application, air purification is predicted to remain the dominant segment, registering 3% CAGR between 2021 and 2031.
Growth Drivers
- Activated carbon's abundant applications in treating industrial pollutants, food and beverage processing, and manufacturing industries are expected to boost the market.
- Increasing application of powdered and granulated activated carbon in water treatment activities across India and China will propel the growth in Asia Pacific
Restraints
- Increased cost of raw materials may hinder growth in activated carbon market
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Competitive Landscape:
Key manufacturers in this market are consistently experimenting to develop customized products with industry-specific applications. Many of these developmental activities are focused towards creating activated carbons capable of filtering hydrogen sulfide.
There is tremendous competition in this market as the majority of the companies offer activated carbon products in both granular and powdered form, meant for almost all purposes. Some of the key companies are adopting strategies such as product launches and innovation to stay ahead in the competition.
For instance,
- In July 2021, Calgon Carbon Corporation, a subsidiary of Kuraray Co., Ltd. announced a global?price?increase and will be imposed on all activated carbon products and related equipment. The?increase?will be 10 to 25% or more, depending on the specific product, raw material type, and services provided.
Key Companies Profiled by Fact.MR
- Osaka Gas Co. Ltd.
- Cabot Corporation
- Kuraray Co.
- Calgon Carbon
- Haycarb
- Kureha Corporation
- Donau Carbon GMBH
- Silcarbon Aktivkohle GMBH
- Prominent systems Inc.
- Oxbow activated carbon LLC
More Valuable Insights on Activated Carbon Market
In its latest study, Fact.MR offers a detailed analysis of the activated carbon market for the forecast period of 2021 to 2031. This study also divulges key drivers and trends promoting the sales of activated carbon through detailed segmentation as follows:
By Product
- Powdered Activated Carbon
- Granular Activated Carbon
- Pelletized Activated Carbon
- Extruded Activated Carbon
By Phase
- Liquid Phase
- Gas Phase
By End Use
- Water Treatment
- Food Applications
- Pharmaceutical & Medical Applications
- Automotive Applications
- Air Purification Applications
- Gas Purification
- Supercapacitor Applications
- Metal Extraction
- Industrial Processing
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Key Questions Covered in the Activated Carbon Market Report
- What is the anticipated market size of the activated carbon market in 2021?
- At what rate will sales in the global activated carbon market grow until 2031?
- Which are the factors hampering the demand in the activated carbon market?
- Which region is expected to dominate the global activated carbon market during 2021-2031?
- Which are the factors driving sales in the activated carbon market during the forecast period?
- What is the expected market valuation of the activated carbon market during the forecast period?
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