New York, USA, March 09, 2021 (GLOBE NEWSWIRE) -- According to a recent report published on Research Dive, the global activated carbon market is anticipated to generate a revenue of $9,486.5 million by 2026, from a market size of $4,573.1 million in 2018, at a considerable CAGR of 9.5% during 2019-2026.
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Factors Impacting the Market Growth
Rise in the demand for water treatment procedures along with the requirement of products for treating waste sludge is expected to boost the activated carbon market growth during the forecast period. Apart from this, awareness about health issues related with the intake of contaminated water is enhancing the usage of activated carbon items in water purification process, thus driving the market growth. Apart from this activated carbon materials are also used to treat air pollution. All these factors are estimated to fuel the market growth during the forecast period. However, price alteration of the raw materials due to inaccessibility of natural resources is predicted to restrain the market growth. Apart from this, rise in the importance of health standards plus population escalation is anticipated to generate opportunities in the market during the forecast period.
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Powered Type Segment to be the Most Lucrative
Powered type segment is expected to cross the $5,387.6 million by 2026 and is considered as one of the fastest growing segments in the market. Rise in the usage of deodorization coupled with decolonization in chemical procedures and utilization of powered type items in coal plants for eliminating air contaminants is predicted to fuel the sub-segment market growth during the forecast period.
Gaseous Phase Sub-Segment to be the Most Profitable
Gaseous phase sub-segment is predicted to enhance at a significant CAGR of 9.8% and surpass $4,003.5 million by 2026. Increase in the demand for air purification and mercury removal procedures is anticipated to boost the sub-segment market growth during the forecast period. Moreover, usage of gaseous activated carbon in the pharmaceutical and chemical industries for the removal of hydrogen & chlorine is expected to fuel the sub-segment market growth in the analyzed period.
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Water Treatment End-Use Segment Accounted for Biggest Market Size
Water treatment end-use segment was accounted for the highest revenue in the year 2018 and is projected to rise during the forecast timeframe. Increase in the demand for recycled water for production process in the industries and pure drinking water is anticipated to drive the sub-segment market growth during the forecast period. Furthermore, growth in industrialization is estimated to bolster the sub-segment market growth during the estimated timeframe.
Regional Analysis
Asia-Pacific activated carbon market is projected to gain $2,910.0 million by 2026. The market growth is due to the rise in demand for activated carbon components by end-users such as food & beverage, pharmaceutical, and water treatment plants. Moreover, scarcity of water due to the presence of vast population in China and overall Asia-Pacific area is indirectly impacting the utilization of activated carbon in water treatment, thus resulting in the market growth in the forecast period.
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Key Players and Business Strategies
1. Oxbow Activated Carbon LLC
2. Silcarbon Aktivkohle GmbH
3. Kuraray Co. Ltd
4. Calgon Carbon Corporation
5. Jacobi Carbons AB
6. Osaka Gas Chemical Co. Ltd.
7. Cabot Corporation
8. Evoqua Water Technologies LLC.
9. Carbon Resources LLC
10. Carbon Activated Corp.
11. Carbo Tech AC GmbH
12. Siemens Water Technologies Corp.
These established players are concentrating on both organic and inorganic growth strategies such as collaborations, joint ventures, latest product launches and mergers to achieve the highest market share in the activated carbon industry.
Apart from this, the market report also summarizes various facets of all the prominent players functioning in the market such as SWOT scrutiny, financial lookout, newest developments, current strategic plans, and varied product portfolios. Click Here To Get Absolute Top Companies Development Strategies Summary Report
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