Chicago, June 28, 2023 (GLOBE NEWSWIRE) -- The Activated Carbon Market is approximated to be USD 4.4 billion in 2023, and it is projected to reach USD 7.0 billion by 2028 at a CAGR of 9.5%, as per the recent study by MarketsandMarkets™. Activated carbon, also known as activated charcoal, is a highly porous material with a large surface area that is commonly used in a wide range of applications, such as air and water purification, gas processing, chemical purification, and others. It is produced by heating carbon-rich materials, such as wood, coal, or coconut shells, etc., to high temperatures in the absence of oxygen, which creates a network of tiny pores and cavities in the material.
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Browse in-depth TOC on "Activated Carbon Market”
526 - Market Data Tables
46 - Figures
313 - Pages
List of Key Players in Activated Carbon Market:
- Osaka Gas Chemicals Co., Ltd. (Japan)
- Kuraray Co., Ltd (Japan)
- Haycarb Pvt. Ltd. (Sri Lanka)
- BASF SE (Germany)
- Albemarle Inc. (US)
- Kureha Corp. (Japan)
- Ingevity (US)
- Iluka Resources Ltd. (Australia)
- Tronox Holdings Plc (US)
- Evoqua Water Technologies LLC (US)
- Norit (Netherlands)
Drivers, Restraints, Opportunities and Challenges in Activated Carbon Market:
- Drivers: Rising concerns for pollution control
- Restraints: Raw material scarcity
- Opportunity: Recycling of activated carbon
- Challenges: Weak economic conditions
Key Findings of the Study:
- By Type, Powdered Activated Carbon accounted for the largest share in 2022
- By Application, Gas Phase Application accounted for the largest share in 2022
- By End-Use Industry, Water Treatment accounted for the largest share in 2022
- By Raw Material, Coal accounted for the largest share in 2022
- Asia Pacific accounted for the largest share as well as the fastest-growing market for activated carbon market in 2022
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The market of activated carbon has been segmented based on the type, i.e., powdered activated carbon, granular activated carbon, and others. Powdered activated carbon (PAC) is a fine black powder made from activated carbon that has been pulverized into particles of a specific size range. PAC particles typically range in size from 3 to 100 microns, with smaller particles providing a greater surface area for adsorption but also requiring additional treatment steps to remove the particles from the treated water or other substances.
Granular activated carbon (GAC) is a highly porous, carbon-based material that is commonly used for water and air purification, as well as in various industrial applications. It is produced by heating carbon-rich materials, such as coconut shells, coal, wood, etc., to high temperatures in the absence of oxygen, which creates a network of tiny pores and cavities in the material. Apart from PAC, & GAC, there are other types of activated carbon that are also used in the end-use industry, such as pelletized activated carbon, bead-type activated carbon, and impregnated activated carbon.
The activated carbon market is segmented based on applications. Activated carbon can be used in two different application segments such as liquid phase application, and gas phase application. In liquid phase application, activated carbon is used for potable water treatment, groundwater treatment, decolorization, industrial water treatment, precious metal (gold) recovery, and chemical & pharmaceutical wastewater treatment. On the other side, in gas phase application, activated carbon is used to adsorb harmful gases, airborne dust, pollutants, and odors, which can be generated either from industrial activities or from automobiles.
On the basis of end-use industries, activated carbon is segmented into different end-use industries such as water treatment, food & beverage, pharmaceutical & medical, automotive, industrial, and others. In
the water treatment industry, activated carbon is used to eliminate chlorine and organic compounds to make the wastewater suitable for discharge in water bodies. In Food & Beverage industry, activated carbon is used to remove impurities and decolorize food ingredients. It is widely used in the color removal of food products while producing food, oils, and other edible products. In the Pharmaceutical & Medical industry, it is used to treat poisoning and overdose following oral ingestion. It is also used to remove contaminants like chlorine and chloramine that can be harmful to the patient from the water used for the dialysis process. Apart from this, it is also used in removing impurities from raw materials and finished pharmaceutical products during the production process. In the automotive industry, it is used in air filters through which the air can be passed in the purified form, to the cabin of the vehicle. It is also used to control the harmful vehicular emissions. In a similar way, activated carbon is also used to purify the air, and the solvent recovery process, in any industrial application. Electronic and mining industries are the other industries where activated carbon is used. In the electronics industry, it is used in supercapacitors and hard disks.
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The activated carbon is segmented on the basis of raw materials such as coal, coconut, wood, peat, and others. Coal-based activated carbon is a type of activated carbon that is produced from coal through a process of activation. It is relatively inexpensive as compared to other activated carbons. Coconut-based activated carbon is a type of activated carbon that is produced from coconut shells through a process of activation. It is a sustainable and environmentally friendly alternative to coal-based activated carbon. Wood-based activated carbon is produced from specific types of wood and sawdust. This type of carbon is made by either steam or phosphoric acid activation. Peat-based activated carbon is derived from peat, a dark, organic material formed from the partial decomposition of plants. Other raw materials used for activated carbon include oil carbon, phenolic resin, wall-nut, olive apricot, peach, mango, avocado, almond, hazelnut, palm kernels, etc.
The activated carbon market is studied in five regions, namely, Asia Pacific, Europe, North America, the Middle East & Africa, and South America. Asia Pacific is the fastest-growing market of activated carbon globally. This is attributed to the rise in urbanization, and industrialization, which led to the demand for clean air and water. However, apart from this, stringent environmental norms and the growing food & beverage industry also drive the market of activated carbon in the forecast period.
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