New York, USA, May 16, 2022 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global activated carbon market is predicted to generate a revenue of $9,486.5 million and grow at a CAGR of 9.5% during the analysis period from 2019-2026.
As per our analysts, with the growing demand for water decontamination together with sewage water treatment, the market is predicted to experience significant growth over the forecast time period. Besides, the increasing awareness about serious health issues caused due to the consumption of contaminated drinking water is further predicted to amplify the growth of the activated carbon market over the analysis period. Moreover, the increasing rate of industrialization and the rising usage of activated carbon for water and air pollution treatment is expected to create expansive growth opportunities for the growth of the market during the forecast timeframe. However, the high cost of raw materials because of the unavailability of natural resources may hamper the growth of the market during the analysis timeframe.
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Segments of the Market
The report has divided the activated carbon market into different segments based on type, application, end-use industry, and region.
Type: Powdered Sub-Segment to be Most Lucrative
The powdered sub-segment is predicted to generate a revenue of $5,387.6 million over the estimated timeframe. Furthermore, the increasing use of powdered-type products in the coal plants to reduce air contaminants and the increasing decolonization in the chemical processes are predicted to amplify the growth of the market sub-segment throughout the analysis time period.
Application: Gaseous Phase Sub-Segment to be Most Productive
The gaseous phase sub-segment is expected to generate a revenue of $4,003.5 million over the forecast period. This is mainly because of the increase in the demand for mercury removal processes and air purification applications. Moreover, the rising use of gaseous activated carbons in the chemical and pharmaceutical industry in solvent recovery plants is projected to foster the growth of the activated carbon market sub-segment during the analysis period.
End-Use Industry: Automotive Sub-Segment to be Most Beneficial
The automotive sub-segment is projected to garner a revenue of $485.4 million during the forecast timeframe. This is mainly due to the growing usage of activated carbon materials in the exhaust filters to eliminate air contaminants. Furthermore, the rising use of activated carbon in the absorption of volatile hydrocarbons is predicted to upsurge the growth of the activated carbon market sub-segment over the estimated timeframe.
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Region: Asia-Pacific Region to Have the Largest Share of the Market
The Asia-Pacific region of activated carbon market is predicted to garner a revenue of $2,910.0 million throughout the estimated timeframe. This is mainly because of the rising demand for activated carbon materials from the end-use industries, such as pharmaceutical, food & beverages industries, and many more. In addition, the increasing scarcity of water owing to the increasing high population economies is predicted to drive the regional growth of the market over the forecast period.
Key Players of the Market
The major players of the activated carbon market include
- Osaka Gas Chemical Co. Ltd.
- Evoqua Water Technologies LLC
- Calgon Carbon Corporation
- Cabot Corporation
- Jacobi Carbons AB
- Carbon Resources LLC
- Kuraray Co. Ltd
- Carbo Tech AC GmbH
- Silcarbon Aktivkohle GmbH
- Siemens Water Technologies Corp.
- Oxbow Activated Carbon LLC.
These players are mainly working on the development of new strategies to acquire leading positions in the leading industry.
For instance, in January 2021, Atlas Carbon, LLC, a leading provider of activated carbon and mercury removal products, has announced to collaborate with Wood PLC, a renowned British multinational consultancy and project management company. With this collaboration, Atlas Carbon is aiming to expand its position in the global emissions control and water treatment markets globally.
Further, the report also focuses on other important aspects including product portfolio, the financial performance of the key players, SWOT analysis, and the latest strategic developments.
Region: Asia Pacific has an Aggressive Growth rate for Activated Carbon Market (Avail Customization)
Some Trending Article Links:
- Uses of Activated Carbon as a Weapon against COVID-19 Infection
- Activated Carbon: A Widely Used Adsorbent Protecting Our Lives
- Recent Developments in the Industry to Help Global Activated Carbon Market to Grow Exponentially During the Forecast Period
