Chicago, April 16, 2024 (GLOBE NEWSWIRE) -- The Activated Carbon Market is projected to grow from USD 4.4 billion in 2023 to USD 8.4 billion by 2030 at a CAGR of 9.8%, as per the recent study by MarketsandMarkets™. Activated carbon, also known as activated charcoal, is a highly porous form of carbon with an extensive surface area, making it an exceptional adsorbent material. Produced by heating carbon-rich substances in the absence of oxygen, it effectively removes impurities and contaminants in water treatment, air purification, gas purification, pharmaceuticals, food processing, mining, and energy storage. Its versatility and efficacy in adsorption make it indispensable across various environmental, industrial, and commercial applications.
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Browse in-depth TOC on "Activated Carbon Market"
576- Market Data Tables
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348- Pages
List of Key Players in Activated Carbon Market:
- Diagas Group (Japan)
- Kuraray Co., Ltd. (Japan)
- Haycarb PLC (Sri Lanka)
- Norit (Netherlands)
- Kureha Corporation (Japan)
- BASF SE (Germany)
- Albemarle Inc. (US)
- Ingevity (US)
- Iluka Resources Limited (Australia)
- Tronox Holdings Plc (US)
- Evoqua Water Technologies LLC (US)
- others
Drivers, Restraints, Opportunities and Challenges in Activated Carbon Market:
- Drivers: Rising need for pollution control to generate demand for activated carbon
- Restraints: Scarcity of raw materials leading to increase in price of activated carbon
- Opportunity: Reactivated carbon to provide lucrative opportunities to producers of activated carbon
- Challenge: Weak economic conditions to decrease industrial growth
Key Findings of the Study:
- Powdered Activated Carbon accounted for the highest CAGR during the forecast period.
- Coconut based raw material segment accounted for the second largest market during the forecast period.
- The gas phase application segment accounted for the highest CACR during the forecast period.
- The food & beverage end-use industry is projected to be the third largest market during the forecast period.
- Europe is projected to be the third largest region during the forecast period.
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Based on type, the powdered activated carbon segment is projected to register the highest market share during the forecast period. Powdered activated carbon (PAC) is finely ground activated carbon, known for its extensive surface area and outstanding adsorption capabilities. PAC is utilized in a wide range of applications, including water treatment, air purification, gas and vapor treatment, wastewater treatment, and various industrial processes. In water treatment, PAC efficiently eliminates impurities, contaminants, and odors, ensuring the provision of clean and safe drinking water. Similarly, in air purification systems, PAC effectively captures odors, gases, and volatile organic compounds (VOCs), thereby enhancing indoor air quality. PAC is utilized in gas and vapor treatment to remove pollutants and impurities, in wastewater treatment for the elimination of organic and inorganic contaminants, and in industrial processes for purification and filtration purposes. Its versatility and efficiency make powdered activated carbon an invaluable solution for addressing environmental and industrial challenges.
Based on raw material, the coal raw material segment is projected to register the highest market share during the forecast period. Coal-based activated carbon, derived from coal sources through activation, has a porous structure ideal for adsorption. Its applications span water treatment for purification, air purification for odor and gas removal, gas and vapor treatment in industrial processes, gold recovery in mining, industrial processes, and environmental remediation for soil and groundwater cleanup. This versatile carbon type effectively addresses various environmental and industrial challenges by removing impurities and contaminants from liquids and gases.
Based on application, the gas phase application is projected to register the highest market share during the forecast period. In gas phase applications, activated carbon effectively adsorbs harmful gases, airborne dust, pollutants, and odors. It is extensively used in sectors like automobiles and industrial gases to fulfill diverse gas phase requirements, including deodorization and filtration in industrial air systems, chemical processing plants, exhaust fumes, and smoking rooms. Primarily utilized in automotive and industrial settings, activated carbon is crucial for managing exhaust gas emissions and odors, as well as in solvent recovery processes.
Based on end-use industry, the Water Treatment sector is projected to register the highest market share during the forecast period. Activated carbon is essential in water treatment, effectively removing impurities, contaminants, and odors from water by adsorbing organic compounds, chlorine, volatile organic compounds (VOCs), and other pollutants. Its porous structure enhances water quality by improving taste, odor, and clarity. Activated carbon is used in wastewater treatment to eliminate chlorine and organic compounds for safe discharge. It is commonly used in municipal and industrial water treatment systems, as well as point-of-use and point-of-entry systems in households, ensuring clean and safe drinking water. Additionally, activated carbon filters remove residual disinfectants like chlorine and chloramines, enhancing water taste and odor. Overall, activated carbon is a versatile and efficient solution for improving water quality worldwide.
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Based on region, North America is projected to be the second largest market during the forecast period. The North American market is expected to rank as the second largest globally in terms of value. Within the region, the US market is forecasted to experience the highest compound annual growth rate (CAGR) of 8.5% in terms of value during the forecast period. North America has established itself as a leader in product innovations and quality standards, particularly in countries like the US and Canada. It serves as a prominent manufacturing hub for chemicals, pharmaceuticals, and food & beverage products. Stringent regulations governing the purification and separation of these products have encouraged manufacturers to adopt advanced adsorption technologies, thereby fueling the demand for activated carbon in the region.
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About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: sales@marketsandmarkets.com
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