Global Activated Carbon Market is expected to reach $10.7 billion and 4.4 Kilo tons by 2024 growing at a CAGR of 10.2% and 7.9% respectively from 2016 to 2024. High carbon content is being processed in the manufacturing of activated carbon. Absorption is the leading advantage that is booming the market of the activated carbon market in order to remove the increasing contamination in water. This is due to increased surface area for absorption of pollutants as it has small low volume pores and this is majorly driving the market of activated carbon.
"Activated Carbon Market Global Scenario, Market Size, Outlook, Trend and Forecast, 2016 – 2024"
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Physical absorption is considered to be the main property and it helps in metal finishing, medicine, filters, purification, decaffeination, fuel storage, and removal of pollutant, among others. It also helps in removal of dissolved radon, lead, and mercury. These are the main benefits which is expected to drive the activated market globally. North America and Europe are expected to witness enhanced growth for activated carbon as compared to other regions of the globe.
Contaminated drinking water is one of the major serious problems across the globe among the consumers. The serious health risks associated with drinking contaminated drinking water and its treatment to avoid this is also fueling the growth of the activated carbon market globally. Thus, primarily enhanced drinking water treatments, and environmental standards are supporting the growth of activated carbon industry. Rising water treatment plants across several countries such as China and India are investing heavily seeing the tremendous rise in the activated carbon market.
The rise in the progress of government subsidies and industrialization is also one of the major driving factors fueling the growth of activated carbon area. Furthermore, the capability of activated carbon to remove mercury for industrial air purification is one of the major drivers of the market. Major companies across the globe are adopting new product development and geographic expansion as their major key strategies to compete and sustain in the market wherein this is a promising market in the coming years.
Increased government rules and mandates to related to water purity and water scarcity is also driving the activated carbon market across different countries and their regions. This can be seen in the form of carbon control and pollutants removal as it finds application in mercury removal plants. Government initiatives to control the environment and pollution primarily in water is driving the activated carbon market. There are many factors that support the growth of the activated carbon market supported by the major companies and government initiatives being taken; however high price of raw material is expected to restrain the growth of the market in the present conditions. However, new product developments, high per capita income, and high pollution level hold huge potential in the coming years thus serving as the opportunity to boost the growth of activated carbon industry.
The market is segmented into product type, application, end use and geography. By product type covers granular activated carbon, powdered activated carbon, and others. Application segment covers gaseous phase and liquid phase. By end use, the market is segmented into food & beverage processing, water treatment, automotive, pharmaceutical & medical, air purification and others.
Geographically this market is segmented into North America (U.S. and Rest of North America), Europe (U.K., Germany, Russia, France, Italy and Rest of Europe), Asia-Pacific (China, India, South Korea, Japan, Indonesia and Rest of Asia-Pacific), and Rest of the World (RoW) (South America, Middle East and Africa). Asia Pacific holds the major share in the market at present, i.e., above 30% and is expected to grow at a CAGR of above 10% during the forecast period, 2016 – 2024 followed by North America.
The major players in the market include ADA-ES, INC., Jacobi Carbons AB, Siemens Water Technologies Corp., Kureha Corporation, Calgon Carbon Corporation, Carbo Tech AC GmbH, Carbon Resources LLC, CLARINEX Group, Carbon Activated Corp., and Cabot Corporation among others.
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