Activated Carbon Market to Gain Value of US$ 7.93 Bn by 2031, States TMR Study

WILMINGTON, DE / ACCESSWIRE / January 19, 2023 / Transparency Market Research Inc. - The global activated carbon market is prognosticated to reach a value of US$ 7.93 Bn by the end of 2031, according to a research report by Transparency Market Research (TMR). In addition, the study finds that the market for activated carbon is prognosticated to grow at a CAGR of 8.1% during the forecast period, 2022 to 2031.

Companies operating in the global activated carbon market are using varied strategies such as mergers, acquisitions, and product portfolio expansions in order to stay ahead of the competition. This aside, players are increasing their R&D activities so as to improve the quality of the products they provide. Such initiatives are expected to lead to rapid expansion of the global activated carbon market during the forecast period.

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The activated carbon market in Asia Pacific is expected to gain notable opportunities for business during the forecast period owing to rise in the product use in the regional food and beverages, water treatment, automotive, and healthcare industries. Furthermore, surge in the water needs from the regional industrial sector and increase in the implementation of regulations by the regional government bodies for the water pollution prevention are creating substantial growth prospects for activated carbon market in Asia Pacific.

Activated Carbon Market: Key Findings

• Due to surge in the number of coal-fired power plants and increase in the industrialization across major developed and developing nations globally, there has been rise in the air pollution levels. As per the statistics by the World Health Organization (WHO), air pollution is the cause of death of approximately 4.2 million people worldwide every year. This aside, around 91% of the global populace lives in places where the air quality is not suitable for human health. Hence, the need for the purification of air is being rising in the recent years. Activated carbon is being utilized in the air filtration or air treatment procedures. Hence, rising concerns regarding air quality are anticipated to help in the expansion of the global activated carbon market size during the forecast period.
• Municipal and industrial wastewater comprise different types of impurities such as undissolved and dissolved substances, persistent organic substances, easily degradable organic substances, heavy metals, salts, and plant nutrients, states a TMR study on the activated carbon market. The main motive of sewage treatment is to remove such impurities in order to restore the natural quality of water. The pre-cleaning process of contaminations is being done with the help of other treatment processes including sedimentation, flocculation, and/or biological treatment. Generally, activated carbon is utilized in the last processing step in order to eliminate the most critical impurities including pharmaceutical micro-pollutants, states a TMR study.

Activated Carbon Market: Growth Boosters

• Surge in the product utilization in water and wastewater treatment activities is expected to fuel the growth in the global market for activated carbon
• Rising product demand for air purification is likely to generate notable growth opportunities in activated carbon market during the forecast period

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Activated Carbon Market: Key Players

Some of the key players profiled in the report are:

• KURARAY CO., LTD
• Cabot Corporation
• HAYCARB (PVT) LTD.
• Osaka Gas Chemicals Co., Ltd.
• Evoqua Water Technologies Corp.
• KUREHA CORPORATION
• Donau Chemie AG
• Clarimex Group
• General Carbon Corporation
• Carbon Activated Corporation
• Indo German Carbon Limited (IGCL)
• ACURO ORGANICS LIMITED
• CarboTech
• TIGG LLC
• Javaindo Purestar Carbon
• TMK Carbon Sdn Bhd.

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Activated Carbon Market Segmentation

• Raw Material
  • Coal Based
  • Coconut Shell Based
  • Wood Based
  • Others (Petroleum Pitch, etc.)
• Form
  • Powdered
  • Granular/Crushed
  • Extruded/Pelletized
  • Others (Spherical, etc.)
• End-use
  • Water and Wastewater Treatment
  • Air Purification
  • Food & Beverages
  • Industrial Chemicals
  • Pharmaceuticals
  • Mining
  • Automotive
  • Others (Personal Care, etc.)

Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

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• Activated Carbon Market1