Activated Carbon Market Growth Opportunities | Latest Trends Analysis Forecast Report 2023

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Activated Carbon Market Research Insights 2023

According to the USD Analytics published latest research report, the global “Activated Carbon Market” is expected to grow at a tremendous CAGR of 9.5% during the forecast period 2023-2030.

Activated carbon, commonly known as activated charcoal, is utilized in various industrial applications needing reuse recoveries, such as gas and air purification. Environmental concerns and awareness have resulted in rigorous emission regulations. As a result, multiple producers have invested in developing technologies and improved ideas for the product's usage in cleaning and air treatment applications. It is rapidly being utilized in water treatment, including drinking, service, groundwater, and wastewater.

The product's basic function is to adsorb dissolved organic pollutants and eliminate chemicals that impact odor and taste. Activated Carbon Injection (ACI) technology has resulted in more cost-effective purification procedures. These approaches are mostly used to reduce mercury emissions in cement kilns and power plants. Growing pollution from product production emissions has been a prominent element pushing the market.

Market Drivers:

The increased need for mercury control technologies in industrial air purification applications is expected to drive up demand for activated carbon. Many production facilities in the United States and Europe, including coal-fired power plants, clinker cement plants, and other facilities operating large industrial boilers, will be required to meet stringent new mercury and other hazardous air pollutants emission standards overseen by the US Environmental Protection Agency (EPA) in the coming years. As a result, demand for activated carbon is predicted to rise throughout the forecast period to reduce environmental pollution.

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Market Restraints:

Activated carbon is often made from various raw sources, including coal, coconut, wood, peat, etc. Natural disasters substantially impact the activated carbon market's value chain. As a result, the cost of raw materials, particularly coconut shell charcoal, has risen. The cost of coal-based activated carbon has risen owing to increasing energy consumption, particularly in China, where coal is in high demand in industrial sectors such as electricity, iron and steel, and cement facilities.

Market Opportunities:

The demand for activated carbon has skyrocketed because of strict air quality rules and the growing number of municipal and industrial wastewater treatment facilities. The increasing strain on activated carbon producers due to high production costs substantially impacts this business. As a result, activated carbon manufacturers concentrate primarily on producing reactivated carbon.

Recent Industry Developments:

1. Evoqua Water Technologies LLC bought the Texas-based industrial water treatment service company of Bob Johnson & Associates from Kemco Systems in March 2023 to enhance its North American reach.
2. Ingevity bought Nexeon Limited in August 2022 to develop a position in the electric vehicle (EV) industry and to enhance the prospects of its current activated carbon business.
3. Evoqua Water Technology LLC built a new Sustainability and Innovation Hub in Pittsburgh, Pennsylvania (US), in October 2021 to carry out cutting-edge water treatment technology.
4. Daigas Energy Co., Ltd. (a subsidiary of Osaka Gas Chemicals Co., Ltd.) teamed with Miura Co., Ltd. and Aquas Corporation (Japan) in March 2021 to offer consumers water treatment services.

Segmentation Analysis:

As per the research analysis, the global activated carbon market is segmented by type into powdered activated carbon, granular activated carbon, and others; by application into liquid phase application, gas phase application; by end-use industry into water treatment, food & beverages, pharmaceutical & medical, automotive, industrial, and others; and by raw material into coal, coconut, wood, peat, and others.

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Powdered Activated Carbon accounted for the highest CAGR during the forecast period

Powdered activated carbon (PAC) is a fine black powder formed from carbonaceous sources such as wood, coal, coconut shells, and other carbonaceous elements. To start the carbon and create a porous surface area, the material is heated to a high temperature in the presence of steam or oxygen. Rising demand from various end-use sectors, including food and beverage, automotive, pharmaceuticals and medical, and others, contributes to the growth of the activated carbon market over the projected period.

Geographical Analysis:

The global activated carbon market is segmented into North America, Europe, South America, Asia Pacific, and Middle East & Africa.

Asia-Pacific activated Carbon Market:

The demand for activated carbon in the Asia Pacific area is mostly driven by the water treatment sector. Rising population, rising living standards, and growing awareness about environmental contamination all contribute to a rise in demand for clean air and water. This promotes the development of activated carbon. Furthermore, rising sectors such as food and drinks, automotive, pharmaceuticals and medical, and so on will likely boost the activated carbon market throughout the projection period.

Competitive Landscape:

The major companies included in the global activated carbon market are Kuraray Co., Ltd., Osaka Gas Chemicals Co. Ltd., Haycarb Pvt. Ltd., Norit, and Kureha Corporation

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Additional Benefits Post Purchase:

1) Unlimited Analyst support for a period of 1 year.

2) Any query regarding the scope offered will be addressed within 24- 48 hours.

3) An excel sheet with market numbers will be provided separately.

The Full Report has the below insights.

• The report offers a comprehensive evaluation of the market in terms of Market Value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2020-2021) and verifiable market size projections (2022-2029).
• Visualize the composition of the global activated carbon market segmentation type, application, end user, raw material, and region, highlighting the key commercial assets and players. 
• By Type: Powdered activated carbon, granular activated carbon, and others
• By Application: Liquid phase application, gas phase application
• By End User: Water treatment, food & beverages, pharmaceutical & medical, automotive, industrial, and others
• By Raw Material: Coal, coconut, wood, peat, and others
• By Region: North America, Europe, South America, Asia-Pacific, and Middle East and Africa
• Identify commercial opportunities in the global activated carbon market by analyzing trends and co-development deals.
• The report also covers data insights on various industry forces such as porter's five forces, regulations in each country, reimbursement scenario, technological advancements, PEST analysis and pricing analysis.
• Excel data sheet with thousands of the global activated carbon market-level 4/5 segmentation data points.
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the key product of all major market players.
• The report will provide access to approximately 50+ market data tables, 40+ figures and close to 180 pages.

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