Selbyville, Delaware, Nov. 14, 2022 (GLOBE NEWSWIRE) -- According to a new research report by Global Market Insights Inc., the global Activated Carbon Fiber Market size is projected to reach USD 2 billion in revenue by 2032.
The market is foreseen to develop steadily as a result of rising environmental concerns about air and water pollution in the Asia Pacific region. ACFs applications for water treatment will experience tremendous growth in light of strict government rules and growing public health awareness. The use of ACF filters in new water purifiers and the creation of novel fibers are primed to further contribute to the industry's expansion. Over 5,800 tons of chemicals were sold worldwide for wastewater treatment in 2021.
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Favorable carbon yield to increase PAN-based material segment share
Global activated carbon fiber market share from the polyacrylonitrile (PAN) based material segment is slated to be valued at over USD 645 million by 2032 on account of its advantageous properties, including fast pyrolysis, higher melting point, and easy raw material availability. In addition, the widespread use of PAN-based precursors in the ACF sector owing to their high carbon yield and good tensile strength is poised to significantly aid segment expansion in the future.
Escalating incidences of asthma to boost product uptake for air purification
In terms of application, activated carbon fiber market share from the air purification segment is anticipated to account for over USD 570 million in revenue by 2032. The need for air purification products is rising due to the growing number of asthma patients and occurrences of other health conditions around the world. Strict government restrictions for regulating air pollution, along with ongoing research & development in air filtration technology to reduce the ever-increasing health risks associated with air pollution, are likely to stimulate segment progress.
Browse key industry insights spread across 190 pages with 162 market data tables and 38 figures & charts from the report “Activated Carbon Fiber (ACF) Market Statistics by Material (Cellulose Based, Polyacrylonitrile (PAN) Based, Phenolic Resin Based, Pitch Based), Application (Air Purification, Water Treatment, Chemical Recovery, Catalyst Carrier), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032”, in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/activated-carbon-fiber-acf-market
Strict VOC & environment protection policies to impel LATAM market expansion
Latin America activated carbon fiber market is estimated to grow at over 6.5% CAGR between 2023 and 2032. The regional ACF market growth is driven by the positive outlook of the domestic chemical and wastewater treatment industries. Furthermore, the adoption of stringent VOC regulations by countries and rising focus on environmental protection are set to bolster product demand in the LATAM region in the forthcoming years.
Product innovations to define the competitive landscape
Lesaffre Group, Archer Daniel Midland Company, Trouw Nutrition, Alltech Inc, Biorigin, Novus International Inc., LallemandMC Evolve Technologies Corporation, Kuraray Co., Ltd., Toyobo Co., Ltd., Awa Paper & Technological Company, Inc., and others are some key companies that are operating in the activated carbon fiber market. Industry participants are working on launching new products to broaden their offerings in the market.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
