The global activated carbon market size is expected to gain momentum by reaching USD 4,064.7 million by 2027 while exhibiting a CAGR of 4.8 % between 2020 to 2027. In its report titled “Activated Carbon Market Size, Share & COVID-19 Impact Analysis, By Type (Powdered, Granular, and Others), By Application (Water Treatment, Air & Gas Purification, Food & Beverage, Others), and Regional Forecast, 2020-2027, “Fortune Business Insight mentions that the market stood at USD 2,856.7 million in 2019.
Use of activated charcoal in a wide variety of industries is boosting the market. In addition, the growing environmental concerns have led the manufacturers to develop advanced use of activated charcoal in the cleaning process. One such advancement was the launch of activated carbon injection (ACI), a cost-effective method to perform the purification process.
COVID-19 Impact
The recent outbreak crippled the global economy across the globe. Strict measures to curb the spread of the virus led to disruption in the raw material supply of activated charcoal. However, several awareness programs by governments of deploying it in water treatment plants and in air purification machines are expected to promote the market.
Market Segmentation:
Based on product type, the market is divided into powdered, granular, and others. The market is segmented into water treatment, air and gas purification, and food & beverage by its application.
Based on its application type, the air & gas purification segment held a market share of 31.1% in 2019 and is anticipated to showcase considerable growth in the forthcoming years. This is ascribable to the rising need to treat harmful impurities from water and air.
Finally, based on region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
What does the Report Provide?
The market report provides qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides detailed information about regional analysis. It includes the competitive landscape, different market segments. It involves information about the leading companies and their different strategies such as partnerships and collaboration that will further contribute to the activated carbon market growth.
Driving Factor
Increasing Demand for Wastewater Treatment Solutions to Drive Market Growth
Increased demand for activated charcoal in wastewater treatment plants is expected to promote the activated carbon market growth during the forecast period. It works by absorbing impurities due to its large pore size. In addition, the dramatic rising population has put pressure on natural resources, especially water. Hence to provide freshwater, the process of purification becomes a must.
Besides, it is also used in the cosmetics and personal care industry in several products to absorb skin impurities, thereby boosting its market.
Regional Insights
Asia Pacific to Dominate Backed by Activated Charcoal Use in Purification Process
Asia Pacific is expected to hold the highest position in the activated carbon market share during the forecast period. This is ascribable to the presence of two major countries India and China, that consumes most of the activated charcoal for water treatment applications in the region. In addition, raw materials are easily available at low cost, thus boosting the regional market. The region stood at USD 1,120.5 in 2018 and USD 1,186.7 in 2019.
North America is expected to showcase significant CAGR in the upcoming years due to strict regulations imposed by the government on the disposal of industrial water and gas emissions. Thus, manufacturers are deploying activated charcoal to absorb the impurities.
Competitive Landscape
Key Players to Focus on Establishing Partnerships to Strengthen Their Positions
The market is consolidated by major companies striving to maintain their position by focusing on expanding their product range for different industries. For instance, Osaka Gas Chemicals Co, Ltd developed new technology to offer desired activated charcoal forms in different industries, such as food & beverage, water purification and personal care. Moreover, other key players are adopting proactive strategies such as new partnerships, mergers, and collaborations to favor the market's growth in the upcoming years.
Key Industry Development
January 2021: The manufacturers of the Zorpads shoe pads collaborated with NASA's research of the granular carbon. Since it outperformed all previous material used in shoe pads, the company used it in manufacturing odor eliminating shoes.
September 2018: Kuraray Co., Ltd. Acquired Calgon Carbon Corporation. The acquired company will function as a separate subsidiary. Both companies will continue to provide quality activated charcoal and filtration media products to their consumers. This acquisition marked the presence of Kuraray as an activated charcoal supplier.
List of the Key Players Profiled in the Global Activated Carbon Market Report are;
Osaka Gas Chemicals Co., Ltd.
Donau Carbon GmbH
Cabot Corporation
PURAGEN ACTIVATED CARBONS
CARBOTECH AC GMBH
Kuraray Co., Ltd.
KUREHA CORPORATION
Activated Carbon Technologies
Silcarbon Aktivkohle GmbH
Ingevity
Iluka Resources
James Cumming & Sons
Universal Carbons
Carbon Activated Corporation
Ironox 2
Active Char Products
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/activated-carbon-market-102175
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