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.
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.
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Activated carbon is a category of carbon processed to have small amount of volume pores that increase the surface area offered for adsorption or by chemical reactions. They are also termed as activated charcoal.
They are widely used in air purification, gold purification, decaffeination, water purification, metal extraction, gas purification, sewage treatment, medicine, air filters in gas and respirators masks, filters in compressed air and other applications.
High demand in cosmetic industry drives the global market
Increasing industrialization and urbanization in activated carbon sector, rising need of water treatment plants due to water scarcity and pollutions, high demand in cosmetic industry, and strict government protocols focusing to keep environment healthy in terms of safe water and air for living beings drives the global activated carbon market.
However, high price of raw materials is expected to be a major challenge for the activated carbon market growth. Moreover, high pollution level, rising per capita income, new product launch and development are expected to generate numerous growth opportunities during the forecast period.
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The global activated carbon market is primarily categorized on the basis of product type, application, end-use and geography. The segmentation by product type include granular activated carbon, powdered activated carbon, and others.
On the basis of application, the market is classified as liquid phase & gaseous phase. Classification by end-use comprise pharmaceutical & medical, water treatment, automotive, air purification, food & beverage processing, and others.
By geographical analysis, the market is divided into North America, Europe, Asia-Pacific, and Rest of the World (RoW).
Powdered Activated Carbon dominated the product type segment
The powdered activated carbon generated largest revenue in the product type segment in the year 2016, and is expected to continue its activated carbon market trend, owing to growing applications of activated carbon market industries such as food & beverage, chemicals, petrochemicals, and among others.
Liquid Phase accounted the maximum share in application segment
In 2016, liquid phase accounted for the major activated carbon market share, driven by its widespread applications in municipal & industrial water treatment, and chemical & pharmaceutical industry, among others.
Asia-Pacific Dominated the market with major share
Asia Pacific is expected to be the largest revenue generating region, i.e. above 30%, due to growing industrial sectors in countries such as India, Sri Lanka, and others.
This growth will definitely influence in the activated carbon market size. Whereas in terms of growth, Asia-Pacific is expected to achieve the fastest CAGR of above 10% throughout the forecast period 2016 – 2024.
The growth is attributed due to increased investment in petrochemical, chemical, food & beverage sectors in countries such as China, Malaysia, and Thailand among others.
Kuraray Co., Ltd. acquired Calgon Carbon Corporation and announced its agreement on September 2017. While, this acquisition will improve Kuraray’s growth strategy and global presence in activated carbon & filtration media.
The key players profiled in the market are Siemens Water Technologies Corp., Jacobi Carbons AB, Carbo Tech AC GmbH, Calgon Carbon Corporation, Kureha Corporation, Carbon Activated Corp., Carbon Resources LLC, Cabot Corporation, CLARINEX Group, and ADA-ES, INC., among others.
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Scope of Activated Carbon Market
Product Type Segments
- Powdered Activated Carbon
- Granular Activated Carbon
- Liquid Phase
- Gaseous Phase
- Water Treatment
- Pharmaceutical & Medical
- Food & Beverage Processing
- Air Purification
- North America
- Asia Pacific
- South Korea
- South America
- Middle East
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