Hyderabad, Aug. 22, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Europe Activated Carbon Market Report (2023-2028)," the market is estimated at USD 4.07 billion in 2023. It is expected to register a CAGR of 5.73% during the forecast period.
Activated carbon is a carbon form with small pores that enhance the surface area for adsorption or chemical reactions, often extracted from charcoal. The increasing focus on air pollution control, particularly for mercury removal, is expected to boost the demand for activated carbon in the short term. There are opportunities for emerging applications within the medical and pharmaceutical sectors as well. Germany is expected to remain the largest market in Europe for activated carbon in the coming years.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 4.07 billion |
| Market Size (2028) | USD 5.38 billion |
| CAGR (2023-2028) | 5.73% |
| Study Period | 2018-2028 |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Increasing focus on air pollution control. |
| Emerging applications in the medical sector. |
Who are the Top Companies in the Europe Activated Carbon Market?
The market is consolidated. The top seven players hold 70% of the market share. The significant players in the European activated carbon market are,
- Albemarle Corporation
- Carbon Activated Corporation
- CarboTech
- Chemviron
- CPL Activated Carbons
- Donau Chemie AG
- Ingevity
- Jacobi Carbons Group (Osaka Gas Chemicals Co. Ltd)
- Kuraray Co. Ltd
- Kureha Corporation
- Puragen Activated Carbons
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Key Highlights from the Europe Activated Carbon Market Report:
Increased Demand from the Medicine Segment
- Activated carbon has applications in hemodialysis and pharmaceutical use.
- In hemodialysis, it removes harmful contaminants from water used for dialysis to ensure patient safety. Activated charcoal is orally taken to treat poisonings, gas, high cholesterol, hangovers, upset stomach, and bile flow problems during pregnancy.
- In pharmaceutical applications, activated carbon purifies intermediates and final products by removing impurities and colors.
- Europe boasts a robust pharmaceutical manufacturing industry, with countries like Germany, Switzerland, the United Kingdom, France, Italy, and Spain being key players. The growing demand for activated carbon in pharmaceuticals and medical applications is expected to drive market growth in the coming years.
Germany Leads the Market
- The German water treatment technology market is the largest in Europe and is growing significantly. Increasing water treatment activities in the northern region of the country are driving the demand for activated carbon.
- Germany's water supply and wastewater treatment sectors contribute about ~USD 23.6 billion annually. The country is transitioning to green energy, decommissioning nuclear and fossil fuel-based power plants.
- Activated carbon is utilized in producing lithium-ion batteries for electronic devices and electric vehicles.
- It is noteworthy that Germany exported around 500,000 electric vehicles worth USD 28.7 billion last year. Germany's pharmaceutical exports also reached USD 126 billion, a 5.6% increase from 2021.
What are the Latest Developments in the Europe Activated Carbon Market?
- In August 2022, Ingevity strategically invested USD 60 million in a USD 170 million round to acquire an equity stake in Nexeon Limited to establish the company's presence in the electric vehicle market.
Mordor Intelligence has Segmented the Europe Activated Carbon Market Based on Type, Application, and Geography.
- By Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Powdered Activated Carbon (PAC)
- Granular Activated Carbon (GAC)
- Extruded or Pelletized Activated Carbon
- By Application (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Gas Purification
- Water Purification
- Metal Extraction
- Medicine
- Other Applications
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Germany
- United Kingdom
- France
- Italy
- Spain
- Rest of Europe
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Europe Activated Carbon Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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