Rockville, Feb. 06, 2023 (GLOBE NEWSWIRE) -- The recent research analysis by Fact.MR on the global market for activated carbon provides a thorough overview of the industry’s product, end-user, and region categories. It also offers comprehensive details on important players and the crucial tactics they are turning to for gaining an upper hand over their competitors.
Fact.MR – A Market Research and Competitive Intelligence Provider: The global activated carbon market is set to estimate a valuation of US$ 3.3 billion in 2023 and it is anticipated to grow at a CAGR of 5.2% to reach US$ 5.4 billion by 2033.
| Report Attributes | Details |
| Market size value in 2023: | USD 3.3 Billion |
| Projected to reach 2033: | USD 5.4 Billion |
| CAGR: | 5.2% |
| Base Year Considered: | 2023 |
| Forecast Period: | 2023-2033 |
| Largest Market: | North America |
| Segments Covered: | Form, Phase, Application, and Region |
| Activated Carbon KeyPlayers: | Osaka Gas, Cabot Corporation, Kuraray, Calgon Carbon, Haycarb, Kureha Corporation |
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Increasing End-Use Application Demand to Drive the Activated Carbon Market
In the upcoming years, the market for activated carbon is projected to be driven by the expanding use for water treatment applications. For removing specific pollutants from water to make it safe for drinking and other uses, such as organic compounds, a filter containing granular activated carbon is a tried-and-true solution.
High demand for activated carbon is projected to result from growing concern about the safety of drinking water and investments made by the government and other organisations in water treatment applications. Governments in developing nations have increased their investments in water purification throughout time, which has given manufacturing enterprises a chance to boost output.
Drivers:
- Activated carbon is widely used in water treatment plants and air purification systems. Besides this, activated carbon is effective and removing mercury from waste streams, making it a critical component. The rise in demand for clean water and air in various developing countries across the globe is expected to drive the growth of the activated carbon market.
- Activated carbon is used in the food and beverage industry for decolorization and purification, contributing to the growth of this market. Moreover, the growing demand for food-grade activated carbon is also driven by the increasing demand for high-quality food and beverage products.
- Also, the product has more applications in various industries such as personal care and energy. For instance, activation carbon is used in energy production, specifically in gas separation and purification.
- Government regulations mandating the use of activated carbon in various industries also push the growth of the market. Also, various initiatives taken by the government for better water treatment applications are expected to boost the growth of the activated carbon market.
Restraints:
- Production process of activated carbon is relatively expensive, limiting its widespread adoption. Moreover, the lack of availability of various raw materials such as charcoal also restricts the growth of the market.
- The prices of raw materials used in the production of activated carbon are highly volatile, which can restrict the growth of the market
- Synthetic alternatives to activated carbon are available in the market and are becoming increasingly popular, posing a challenge to the growth of the activated carbon market.
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Key Trends:
- The demand for granular activated carbon is increasing, driven by its high efficiency and versatility in various applications.
- The demand for wood-based activated carbon is rising, driven by its low cost and availability.
Segmentation:
- By region, US activated carbon market is expected to grow at a moderate CAGR of 5.1% during the forecast period. Activated carbon is commonly used by various industries and manufacturing plants for the purification of air.
- China has occupied a substantial share of the Asia Pacific market and is expected to emerge as the fastest-growing market. Various factors such as increasing population and high disposable income have boosted the demand for water and air purifiers.
- By form type, the powdered activated carbon market has been growing at a rapid pace due to the growing use of powdered activated carbon in the water treatment process.
- By application, water treatment is expected to capture the major share due to its wide usage in water treatment plants for taste and odor control.
Competitive Landscape:
The market is dominated by large players such as Cabot Corporation, Kuraray, and Toyo Soda Manufacturing Co., Ltd., who have significant market shares. The market also has a growing number of local players who offer activated carbon products at a lower cost.
Key players are focusing on product differentiation by offering high-quality activated carbon with various properties such as high adsorption capacity and low ash content. Moreover, a growing focus on research and development is expected to improve their product’s quality and efficiency.
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Overview of TOC:
Table of Content
1. Market – Executive Summary
2. Market Overview
2.1. Market Definition and Introduction
2.2. Market Taxonomy/ Research Scope
3. Market Background and Foundation Data
3.1. Global Chemical Industry Overview
3.2. Activated Carbon: Application Mapping
3.3. Global Waste Water Generation Outlook
3.4. Global Water Treatment Systems Market Overview
3.5. Global Activated Carbon: Apparent Production & Consumption Analysis
3.5.1. Production Capacity (Kilo Tons)
3.5.1.1. By Key Regions
3.5.1.2. By Key Companies
3.5.2. Consumption Statistics
3.5.3. Apparent Trade Analysis
4. Global Demand (Tons) Analysis and Forecast
4.1. Historical Market Volume (Tons) Analysis, 2018–2022
4.2. Current and Future Market Volume (Tons) Projections, 2023–2033
4.3. Y–o–Y Volume Growth Trend Analysis
5. Global Market – Pricing Analysis
5.1. Product Type and Country–Level Pricing Analysis
5.2. Global Average Pricing Analysis Benchmark
5.3. Factors Influencing Pricing
TOC Continues…
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