Activated Carbon Market to Grow at a CAGR of 8.1% during Forecast Period, TMR Study
Market players are focusing on high-growth industries, including air purification, water and wastewater treatment, personal care & cosmetics, and pharmaceutical, in order to diversify their revenue sources. The COVID-19 pandemic has increased the usage of personal protective equipment, including masks fitted with activated carbon filters. Therefore, companies in the market have shifted focus toward the healthcare sector.
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Increase in investment in research & development (R&D) operations by leading companies enable them to produce novel goods with innovative pricing tactics. This is anticipated to trigger market competition. Manufacturers of activated carbon are likely to focus on evolving customer trends to increase revenue.
Beneficial properties of activated carbon, especially for applications such as air purification and water & wastewater treatment, are expected to increase market share during the forecast period. Major companies are concentrating on latest advancements in the activated carbon industry in order to manufacture highly advanced products.
Key Findings of Market ReportBased on raw material, the coal-based segment led the global industry in 2021. Mesopores and micropores are prominent features of coal-based activated carbon, which has a large surface area. Usage of coal-based activated carbon is higher than other raw materials owing to its affordable filter media.
Global Activated Carbon Market: Growth OpportunitiesImpurities, which are broken down into several pollutant categories, are present in municipal and industrial wastewater. The goal of sewage treatment is to remove these undesirable contaminants and reinstate the water to its original purity. The most challenging contaminants, including pharmaceutical micro-pollutants, are often removed in the last processing stage using activated carbon. Rise in usage of activated carbon in the treatment of wastewater and drinking water is likely to drive market development.Processes for air filtration or treatment frequently employ activated carbon. Air pollution has risen as a result of increasing industrialization and prevalence of coal-fired power plants. A whopping 91% of people on the planet reside in areas with poor air quality. This boosts the need for clean air, which is anticipated to fuel market demand.
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Global Activated Carbon Market: Regional LandscapeAsia Pacific represented a sizeable market share in 2021. Activated carbon is extensively utilized in pharmaceutical, automotive industries, foods & beverages, and water treatment in the region. Increase in water consumption across various industries and changing government rules for preventing water pollution are expected to fuel demand for water treatment in the region. China is likely to lead the activated carbon market in the Asia Pacific region during the forecast period. In addition, manufacturers are shifting operations to the region due to strong demand and low manufacturing costs.
Global Activated Carbon Market: Key PlayersEvoqua Water Technologies Corp.Indo German Carbon Limited (IGCL)Carbon Activated CorporationTMK Carbon Sdn Bhd.Osaka Gas Chemicals Co., Ltd.Donau Chemie AG
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Global Activated Carbon Market: Segmentation
Raw MaterialCoal-basedCoconut Shell-basedWood-basedOthers
End- useWater and Wastewater TreatmentAir PurificationFoods & BeveragesIndustrial ChemicalsPharmaceuticalsMiningAutomotiveOthers
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