Activated Carbon Market valuation will reach USD USD 5.55 billion by the end of

Posted by omkar on October 9th, 2019

The Global Activated Carbon Market size is estimated to be USD 5.55 billion in 2019 and is predicted to reach USD 31.49 billion by 2030 with a CAGR of 17.1%from 2020-2030. Activated carbon is a processed form of carbon with low volume pores that is responsible for increasing the surface area available for absorption. It is also known as activated charcoal. Generally, activated charcoal is produced from carbonaceous sources like bamboo, wood, coconut husk, lignite, coal, and others. Industrially, activated charcoal can be produced by the wire physical activation via chemical activation.

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Physical activation is a process where the source material is converted into activated carbon with the help of hot gases; chemical activation, on the other hand, is a process where the raw material is impregnated with certain Chemicals like strong base acid or salt and then processed to form activated charcoal. The extensive applications of activated carbon in today's world accounting to its increasing demand from power plants, water treatment plants, automobile industries and its protective nature towards a cleaner environment are the prime reasons responsible in fuelling the market size of activated carbon amongst other chemicals.

Market Dynamics and Trends

Factors like growing awareness towards the clean water consumption to avoid critical health issues, increasing demand for activated carbon from mercury removal plants, supportive government’s initiation, and subsidiaries coupled with safer environmental issues are the prime reason that is responsible in fuelling the growth of activated charcoal worldwide. However, the research and development of new products coupled with the increasing industrialization and strict norms for controlling air pollution issued by EPA are some of the other factors that are responsible in increasing the size of activated carbon market.

However, the activated carbon market share may be hampered due to the availability of substitutes like super sand and silica gel coupled with the fluctuation in the cost of raw material due to its unavailability or scarcity. In addition, the expensive nature of some grades of activated carbon result in narrower markets is another prime reason that serves to be the major constraint of this market. Furthermore, the increasing demand of activated charcoal from the FMCG sector and growing investments in new mining projects in countries like Africa search to create new opportunities for this market. The major challenge of the market is to deal with the weak economic condition responsible for lowering the industrial growth.

Market Segmentations and Scope of the Study:

The global activated carbon market is analyzed on the basis of product, application, end-use, and geography. On the basis of product, the market is classified into powdered activated carbon, granular activated carbon, and others. The granular activated carbon segment is estimated to have the largest market share among the product segment. On the basis of application, the activated carbon market is fragmented into liquid phase and gas phase.

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However, the end-use segment of the activated carbon market is segmented into water treatment, food & beverages processing, pharmaceuticals & medical, automotive, air purification, and others. The application of activated charcoal in liquid phase accounts to have the maximum coverage during the market forecast years from 2019-2030; whereas the water treatment accounts to have maximum market size. Lastly, the geographical analysis is completed involving North America, Europe, Asia Pacific, Middle East, and Africa.

Competitive Landscape

The report also covers comprehensive competitive analysis and profiles of major market players such ADA-ES Inc., Cabot Norit Activated Carbon, Carbon Resources LLC, CarboTech AC GmbH, CECA SA, Clarimex Group, CPL Carbon Link, Donau Chemie Group, Haycarb PLC, Ingevity Corporation, Jacobi Carbons AB, Kuraray Co. Ltd., Kureha Corporation, MeadWestvaco Corp., Osaka Gas Chemicals Co., Ltd., Siemens Water Technologies Corporation, and Veolia Water SA.