Pune, India, Sept. 21, 2023 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Activated Carbon Market Size, Share, Growth Factors, Opportunity and Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Application and Geography,” the activated carbon market size is projected to reach US$ 6.08 Billion by 2028 from US$ 3.85 Billion in 2022; it is expected to grow at a CAGR of 8.2% from 2023 to 2028. The projected growth of the market is attributed to the rising adoption of activated carbon for wastewater treatment and increasing regulations on mercury emissions.
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Global Activated Carbon Market: Competitive Landscape and Key Developments
A few of the players operating in the global activated carbon market include Osaka Gas Co Ltd, Haycarb PLC, Kureha Corp, Donau Chemie AG, Activated Carbon Technologies Pty Ltd, Albemarle Corp, CPL Activated Carbons, James Cumming and Sons Pty Ltd, Ingevity Corp, and Norit Nederland BV. Global activated carbon manufacturers focus on providing high-quality products to fulfill the customer demand.
Activated Carbon Market Report Scope, Segmentations, Regional & Country Scope:
| Report Coverage | Details |
| Market Size Value in | USD 3.85 Billion in 2022 |
| Market Size Value by | USD 6.08 Billion by 2028 |
| Growth rate | CAGR of 8.2% from 2023 to 2028 |
| Forecast Period | 2023-2028 |
| Base Year | 2022 |
| No. of Pages | 243 |
| No. of Tables | 159 |
| No. of Charts & Figures | 127 |
| Historical data available | Yes |
| Segments covered | By Type, Application and Geography |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Oman, Russia, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Companies Covered | Osaka Gas Co Ltd, Haycarb PLC, Kureha Corp, Donau Chemie AG, Activated Carbon Technologies Pty Ltd, Albemarle Corp, CPL Activated Carbons, James Cumming and Sons Pty Ltd, Ingevity Corp, and Norit Nederland BV |
Moreover, the increasing establishment of water treatment facilities and equipment drives the activated carbon market. It is used to adsorb small particle sized compounds such as benzene, toluene, ethyl-benzene, xylene, and organic compounds, in large amount. Further, the rising research and development as well as the growing chemicals and automotive industries are projected to boost the demand for activated carbon across Japan during the forecast period.
Sustainability Initiatives:
The activated carbon made from bioresources has shown exceptional surface properties with high degree of porosity. The costs incurred to manufacture activated carbon from bioresources is relatively low in comparison with the commercial activated carbon. Therefore, there is growing interest towards bioresources for synthesis of activated carbon. Bioresources can be categorized in two different ways, namely waste materials or dedicated energy crops. Waste materials may include animal manure, food processing waste, municipal solid waste (MSW), and forest residues among others. As the use of solid waste materials for synthesis of activated carbon helps save landfill space, the alternative is likely expected to be supported by governments in the future. Dedicated energy crops may be grown in lands that are fertile enough and are less arid. Woody and herbaceous crops are the two main varieties used as bioresource. Herbaceous energy crops may include sorghum, wheatgrass, and bamboo among others whereas woody crops include walnut, maple, willow, and poplar among others.
Activated Carbon Market: Segmental Overview
Based on type, the market is segmented into granular/extruded, powdered, honeycombs, impregnated, and reactivated. The activated carbon market share for the powdered segment was largest in 2022. Powdered activated carbons (PACs) are added in dry or sludge form to treatment solution in water purification applications. The powder is filtered from the medium after a specific reaction time. The benefits of PAC utilization are that it offers timely, optimized, and efficient dosage. Moreover, several manufacturers, such as Donau Carbon GmbH, provide powdered form of activated carbon specifically designed for food and beverage applications.
The activated carbon market, by application, is segmented into gas & air, automotive, catalyst, chemicals, food & beverage, mining, pharmaceuticals, water treatment, and others. The activated carbon market share for the water treatment segment was largest in 2022. Over recent years activated carbon has become widely popular in water treatment, groundwater rehabilitation, and drinking water treatment. Government organizations of various economies have issued strict directives and guidelines concerning wastewater treatment that mandates several industries to remove undesirable compounds from wastewater before its disposal. The mandates have led to an increased use of activated carbon post-implementation.
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Key Developments
- In February 2021, Ingevity Corporation expanded its activated carbon production capacity following significant debottlenecking and equipment upgrades completed and verified at its facility in Zhuhai, China.
- In June 2020, Calgon Carbon Corporation announced that it intends to expand capacity at its Pearlington, Mississippi plant by adding a second virgin activated carbon production line.
- In January 2021, Tantech Holdings Ltd launched Variety Combination Honeycomb Activated Carbon, an innovative new activated carbon product. Tantech's Variety Combination Honeycomb Activated Carbon product is a new type of environmentally friendly activated carbon (exhaust gas purification product), which can effectively reduce odors and pollutants, including the adsorption of formaldehyde and benzene, and industrial gas purification to reach the national first-level exhaust gas emission standard.
Impact of COVID-19 Pandemic on Activated Carbon Market
Governments of various countries across the globe-imposed country-wide lockdowns that directly impacted the growth of the industrial sector. In China, movement restrictions and related labor shortages reduced industrial activities across various industries. The significant decline in the growth of several industrial sectors significantly impacted the demand for activated carbon in the global market. The significant disruption in manufacturing has had a negative impact on the demand for activated carbon globally. The water treatment industry has faced supply chain issues regarding the supply of materials required for purification. The COVID-19 pandemic has also impacted the automotive industry, as major automotive plants temporarily halted production.
However, the market is reviving because of the government's significant measures, such as vaccination drives. The water treatment industry is also overcoming the challenges of supply chain disruptions of their raw materials. This is expected to provide the impetus for market growth.
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