Activated Carbon Market is expanding at a 17.1% CAGR between 2020 and 2030
The Global Activated Carbon
Market size is estimated to be USD 5.55 billion in 2019 and is predicted to
reach USD 31.49 billion by 2030 with a CAGR of 17.1%from 2020-2030. Activated
carbon is a processed form of carbon with low volume pores that is responsible
for increasing the surface area available for absorption. It is also known as
activated charcoal. Generally, activated charcoal is produced from carbonaceous
sources like bamboo, wood, coconut husk, lignite, coal, and others.
Industrially, activated charcoal can be produced by the wire physical
activation via chemical activation.
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Physical activation is a process
where the source material is converted into activated carbon with the help of
hot gases; chemical activation, on the other hand, is a process where the raw
material is impregnated with certain Chemicals like strong base acid or salt
and then processed to form activated charcoal. The extensive applications of
activated carbon in today's world accounting to its increasing demand from
power plants, water treatment plants, automobile industries and its protective
nature towards a cleaner environment are the prime reasons responsible in
fuelling the market size of activated carbon amongst other chemicals.
Market Dynamics and Trends
Factors like growing awareness
towards the clean water consumption to avoid critical health issues, increasing
demand for activated carbon from mercury removal plants, supportive
government’s initiation, and subsidiaries coupled with safer environmental
issues are the prime reason that is responsible in fuelling the growth of
activated charcoal worldwide. However, the research and development of new
products coupled with the increasing industrialization and strict norms for
controlling air pollution issued by EPA are some of the other factors that are
responsible in increasing the size of activated carbon market.
However, the activated carbon
market share may be hampered due to the availability of substitutes like super
sand and silica gel coupled with the fluctuation in the cost of raw material
due to its unavailability or scarcity. In addition, the expensive nature of
some grades of activated carbon result in narrower markets is another prime
reason that serves to be the major constraint of this market. Furthermore, the
increasing demand of activated charcoal from the FMCG sector and growing
investments in new mining projects in countries like Africa search to create
new opportunities for this market. The major challenge of the market is to deal
with the weak economic condition responsible for lowering the industrial
growth.
Market Segmentations and Scope of
the Study:
The global activated carbon
market is analyzed on the basis of product, application, end-use, and
geography. On the basis of product, the market is classified into powdered
activated carbon, granular activated carbon, and others. The granular activated
carbon segment is estimated to have the largest market share among the product
segment. On the basis of application, the activated carbon market is fragmented
into liquid phase and gas phase.
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However, the end-use segment of
the activated carbon market is segmented into water treatment, food &
beverages processing, pharmaceuticals & medical, automotive, air
purification, and others. The application of activated charcoal in liquid phase
accounts to have the maximum coverage during the market forecast years from
2019-2030; whereas the water treatment accounts to have maximum market size.
Lastly, the geographical analysis is completed involving North America, Europe,
Asia Pacific, Middle East, and Africa.
Competitive Landscape
The report also covers
comprehensive competitive analysis and profiles of major market players such
ADA-ES Inc., Cabot Norit Activated Carbon, Carbon Resources LLC, CarboTech AC
GmbH, CECA SA, Clarimex Group, CPL Carbon Link, Donau Chemie Group, Haycarb
PLC, Ingevity Corporation, Jacobi Carbons AB, Kuraray Co. Ltd., Kureha
Corporation, MeadWestvaco Corp., Osaka Gas Chemicals Co., Ltd., Siemens Water
Technologies Corporation, and Veolia Water SA.
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