Yahoo Finance Activated Carbon Market Is Expected To Reach at USD 7.73 Billion By 2030, at a CAGR Of 5.6% during Forecast Period 2023 To 2030 | Data By Contrive Datum Insights Pvt Ltd.
According to a market research study published by Contrive Datum Insights, In 2021, the market was worth USD 1.98 billion, Asia Pacific was the most important part.
Farmington, Feb. 02, 2023 (GLOBE NEWSWIRE) -- The Global Activated Carbon Market Size Was Valued At USD 4.77 Billion In 2021. It Is Projected To Grow From USD 4.98 Billion In 2022 To USD 7.73 Billion In 2030, At A CAGR Of 5.6% During The Forecast Period. The global COVID-19 pandemic has been unprecedented and shocking, and the demand for activated carbon has been higher than expected in all areas compared to levels before the pandemic. Our research shows that the global market will grow by 1.5% more in 2020 than it did in 2019.
Activated carbon, which is also called "activated charcoal," is used in many industrial settings, such as to clean gas and air. People are becoming more aware of and worried about the environment, so strict rules have been made about what can and can't be released into the air. This, in turn, has led a number of companies to invest in new technologies and ideas for using the product in cleaning and air treatment, among other things. It is being used more and more to clean water like drinking water, service water, groundwater, and wastewater.
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Recent Developments:
March 2021 – Cabot Corporation launches its ENERMAX 6 carbon nanotube series, which can improve battery performance at low loads and increase energy density in batteries. In addition, compared to existing CNT products, the DC internal resistance of the battery cell is lowered while using such a CNT load. It also achieves comparable conductivity of the electrodes, reducing the total load of conductive carbon additives.
November 2020 – Cabot Corporation launched a unique styrene acrylonitrile based black masterbatch called PLASBLAK XP6801D. This formulation will serve the needs of the styrene market. This new product has excellent mechanical properties, UV resistance, and color development even at low concentrations. It also delivers the same performance with approximately 50% less material, reducing transport logistics, handling and other transport-related GHG emissions.
Segment Analysis:
By Type Analysis
Granulated Activated Carbon (GAC) is the one that is growing the fastest because it is used in so many different industries, like water treatment and cleaning the air and gas. GAC that is not powdered has bigger pieces than GAC that is powdered. This means that it can be used to clean liquids, gases, and the air. GAC is used in the food and drink industry to clean sweeteners, syrups, drinks, amino acids, and organic acids of impurities, smell, and colour. It is also used to clean up wastewater by removing oil, industrial waste, heavy metals, and pesticides. Granular form is also becoming more popular because it is easy to reuse and recycle, which is good for the market as a whole.
By Application Analysis
The biggest market share in 2021 was for water treatment, and this is likely to stay the case for the rest of the forecast period. Organic compounds, compounds that make water smell or taste bad, toxic substances, and oils are often taken out of water with this product. It is used a lot because it is porous and has a lot of absorbing surface area. The market for activated carbon is growing because people all over the world need to treat water more and more as natural resources run out and pollution rises. Also, the strict rules that have been put in place for treating industrial wastewater are likely to help the segment grow.
Regional Outlook:
In 2021, the market was worth USD 1.98 billion, Asia Pacific was the most important part. It is expected to stay at the top for the next few years because China and India, two of the biggest countries that use it, mostly to treat water. The number of people living in the Asia-Pacific region is growing very quickly. This means that there are more people who need clean, safe water to drink. This makes more people want activated charcoal. The fact that raw materials are easy to find and inexpensive is also likely to help the market grow.
In North America, the United States was the market leader because it had more ways to clean water and air. More people are using this product to get rid of CO2, mercury vapours, and other harmful gases because of government rules about how to get rid of industrial wastewater and gas emissions.
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Scope of Report:
Report Attributes | Details |
Growth Rate | CAGR of 5.6% from 2023 to 2030. |
Revenue Forecast by 2030 | USD 7.73 Billion |
By Type | Powdered, Granular, Others |
By Application | Water Treatment, Air & Gas Purification, Food & Beverage, Pharmaceutical & Healthcare Treatment, Other |
By Companies | Osaka Gas Chemicals Co., Ltd. (Japan), Donau Carbon GmbH (Germany), Cabot Corporation (U.S.), PURAGEN ACTIVATED CARBONS (U.S.), CARBOTECH AC GMBH (Germany), Kuraray Co., Ltd. (Japan), KUREHA CORPORATION (Japan), Activated Carbon Technologies (Australia), Silcarbon Aktivkohle GmbH (Germany), Ingevity (U.S.), Iluka Resources (Australia), James Cumming & Sons (Australia), Universal Carbons (India), Carbon Activated Corporation (U.S.), Tronox (U.S.), Active Char Products (India), Adsorbent Carbons (India), Genuine Shell Carb (India), Indo German Carbons (India) |
Regions and Countries Covered |
|
Base Year | 2022 |
Historical Year | 2017 to 2022 |
Forecast Year | 2023 to 2030 |
Market Trends:
Activated charcoal is a great way to clean the air and gas because it can absorb a wide range of molecules, including molecules that smell bad and ones that can cause cancer. It gets rid of dangerous pollutants from the air, making it clean and safe to breathe in situations like personal safety and home air purification. The product is also used to clean up biogas and separate hydrogen. It lowers production costs by keeping silicon dioxide from damaging engines, catalysts, and fuel cells, and by increasing output yields.
Market Driving Factors:
More people want to buy this product because they need clean, safe water to drink. The market is growing because the product has a lot of available surface area for adsorption. This makes it easy to get rid of impurities like oils, microbes, substances that give off smells and tastes, and chemicals. Carbon Activated Corp., for example, offers industrial solutions, municipal groundwater filter systems in the U.S., and VOC/siloxane removal systems in biogas engines all over Europe. With the number of people growing at an exponential rate, there is a high demand for freshwater, which has increased the need for clean water.
Key Segments Covered:
Top Market Players:
Osaka Gas Chemicals Co., Ltd. (Japan), Donau Carbon GmbH (Germany), Cabot Corporation (U.S.), PURAGEN ACTIVATED CARBONS (U.S.), CARBOTECH AC GMBH (Germany), Kuraray Co., Ltd. (Japan), KUREHA CORPORATION (Japan), Activated Carbon Technologies (Australia), Silcarbon Aktivkohle GmbH (Germany), Ingevity (U.S.), Iluka Resources (Australia), James Cumming & Sons (Australia), Universal Carbons (India), Carbon Activated Corporation (U.S.), Tronox (U.S.), Active Char Products (India), Adsorbent Carbons (India), Genuine Shell Carb (India), Indo German Carbons (India), and others.
By Type
Powdered
Granular
Other
By Application
Water Treatment
Air & Gas Purification
Food & Beverage
Pharmaceutical & Healthcare Treatment
Others
Regions and Countries Covered
North America: (US, Canada, Mexico, Rest of North America)
Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
Latin America: (Brazil, Argentina, Rest of Latin America)
Rest Of the World
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