Pune, India, May 2021, MRFR Press Release/Market Research Future has published a Cooked Research Report on the Global Activated Carbon Market.
Market Research Future (MRFR)will be publishing a cooked research report on the “Global Activated Carbon Market” that contains the information from 2017 to 2028.
MRFR recognizes the following companies as the key players in the global activated Carbon Market—Cabot Corporation, Osaka Gas Chemicals Co., Ltd, Kuraray Co., Ltd, Haycarb (Pvt) Ltd, Kureha Corporation, Donau Carbon GmbH, DESOTEC Activated Carbon, Oxbow Activated Carbon, SilcarbonAktivkohle GmbH, Karbonous Inc, and Lenntech BV.
Activated Carbon Market Overview
The global activated carbon market is projected to be valued at USD 9,425.6million by the end of 2028, registering a CAGR of 8.31% during the forecast period.
Activated carbon contains carbonaceous derived from charcoal. It is developed with a highly developed porous structure and a large internal surface area. It comprises approximately 85–90% carbon and other elements depending on the raw materials used and the processing method. It is used for air purification, solvent recovery, methane & hydrogen storage, metal extraction, water purification, sewage treatment, gold purification, filters in compressed air, air filters in respirators, in the production of various chemicals, including hydrogen chloride, among others.
The prime drivers of the global activated carbon market include its extensive use in mitigating mercury emission. Stringent regulations regarding environmental concerns promote the global activated carbon market. Increasing demand for activated carbon in water treatment applications is another key driver of the global activated carbon market. Moreover, its use in the pharmaceutical and healthcare industry and increasing healthcare spending and improved conditions boosts the demand.
However, the scarcity of raw materials and disadvantages of activated carbon as a filter majorly restrain the market growth.
The growing demand for activated carbon in energy storage applications in smart electronics and electrical vehicle applications for asymmetric batteries, ultracapacitors, and other advanced batteries, due to its high surface area and comparatively high conductivity of the material, is expected to offer lucrative opportunities to manufacturers.
Access full report @ https://www.marketresearchfuture.com/reports/activated-carbon-market-1744
The global activated Carbon Market has been segmentedon the basis oftype, application, and region.
Based on type, the global activated carbon market has been segmented into powdered activated carbon, granulated activated carbon, extruded activated carbon, and others. Among these, the powdered activated carbon segment accounted for thelargest market share of more than 50% in 2019. The segment is also expected to exhibit a higher CAGR of around 9% during the forecast period. Powdered activated carbon has a relatively smaller particle size than other types, which provides it a larger surface-to-volume ratio and hence better adsorption ability. It is widely used for de-chlorination of water, mercury removal from power plant emissions, removal of organic contaminants from wastewater, drinking water treatment, groundwater remediation, and taste and odor removal from water used in the food & beverage industry. The rising demand for powdered activated carbon in mercury removal and water treatment applications is likely to drive the growth of the global market during the forecast period.
On the basis ofapplication, the market is categorized into water purification, air purification, food and beverage, industrial chemicals, metal extraction, pharmaceuticals, automotive, catalyst, and others.The water purification segment is accounted for the largest market share in 2019 due to the increase in residential, municipal, and industrial water treatment. It is also expected to bethefastest-growing segment with a CAGR of 8.57% during the forecast period.
Key Findings of the Study:
The global activated Carbon Market is projected to reach a value of USD 9,425.6millionby 2028,with a CAGR of around 8.31% during the forecast period.
Asia-Pacific emerged as the leading in the global activated carbon market. The market growth can be attributed to the rapid industrial growth and the improving economic conditions of consumers in this region. The implementation of zero liquid discharge promotes the use of activated carbon in wastewater treatment in the region.North America was thesecond-largest in 2019, owing to the availability of advanced technologies and growing demand for water purification in the industrial sector.
Based on type, powdered activated carbon accounted for the highest market share, followed by Granular Activated Carbon in 2019. The growing use of powdered activated carbon in gas, water, and air purification in industrial chemicals, automotive, pharmaceutical, and food & beverages industry is propelling the growth of the activated carbon market over the forecast period.
Some of the leading players operating in the Activated Carbon Market are Cabot Corporation, Osaka Gas Chemicals Co., Ltd, Kuraray Co., Ltd, Haycarb (Pvt) Ltd, Kureha Corporation, Donau Carbon GmbH, DESOTEC Activated Carbon, Oxbow Activated Carbon, SilcarbonAktivkohle GmbH, Karbonous Inc, and Lenntech BV.