PORTLAND, Ore., July 15, 2019 (GLOBE NEWSWIRE) -- According to the report, the global activated carbon market accounted for $3.01 billion in 2016 and is projected to reach $5.12 billion by 2022, registering a CAGR of 9.3% during the forecast period. The report offers a detailed analysis of the key segments, top investment pockets, changing dynamics, market size & estimations, and competitive scenario.
Rise in demand for water purification, surge in government subsidies and environmental standards, increased demand for mercury removal plants have boosted the growth of the global activated carbon market. In addition, rising global industrialization supplemented the market growth. However, high price of raw material due to unavailability of raw material hamper the market growth. On the contrary, rise in new product launches for activated carbon is expected to create lucrative opportunities in the near future.
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The global activated carbon market is segmented on the basis of product type, end use, application, and geography. Based on product type, the market is divided into powdered, granular, and other activated carbon. The powdered activated carbon segment dominated the market in 2016, accounting for more than half of the market. However, the other activated carbon segment is projected to manifest the fastest CAGR of 9.9% through 2022.
On the basis of end use, the market is divided into water treatment, food & beverage processing, pharmaceutical & medical, automotive, air purification, and other end-uses. The water treatment segment held the largest share in 2016, contributing more than two-fifths of the market. However, the automotive segment is estimated to register the fastest CAGR of 10.8% during the study period.
The market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across the Asia-Pacific region is expected to portray the fastest CAGR of 11.1% through 2022. On the other hand, the market across the North America region held the largest share in 2016, accounting for more than two-fifths of the market.
The global activated carbon market report provides an in-depth analysis of the major market players such as Jacobi Carbons AB, ADA-ES, INC., Kureha Corporation, Siemens Water Technologies Corp., Carbo Tech AC GmbH, Calgon Carbon Corporation, CLARINEX Group, Carbon Resources LLC, Cabot Corporation, and Carbon Activated Corp. They have adopted different strategies such as mergers & acquisitions, partnerships, collaborations, new product launches, and others to gain a strong position in the global industry.
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