The activated carbon market is expected to grow at a CAGR of 8.59% during the forecast period from 2022-2030. The market was valued at USD 4.917 billion in 2020 and is expected to attain a value of USD 9.594 billion by 2030.
Activated carbon contains 85-90% of carbon and its porous structure enhances the absorption of materials. It also helps remove toxic substances and elements from gases and liquids. Activated carbon finds its applications in effluent treatment, water treatment, flue gas scrubbing, metal extraction and purification, air filtration, and pharmaceuticals.
Current Market Scope
Activated carbon is useful in the treatment of water as it can easily adsorb organic compounds, gustatory and olfactory elements, and other synthetic chemicals from water and makes it potable. Clean, safe, and cheap drinking water is the priority for the rising population and hence, demand for activated carbon is increasing.
Carbon and carbon isotopes are thermally and chemically stable, available in great quantities, and easy to process. The demand for such material is rising in energy-related applications like smart electronic devices. To manufacture supercapacitors and store hydrogen, it is estimated that the demand for activated carbon will increase.
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The activated carbon industry is segmented by its type and application.
The global activated carbon market is divided into Asia-Pacific, Europe, North America, Latin America, The Middle East, and Africa. By the end of 2030, it is estimated that Asia-Pacific will dominate global market growth. North America held the second largest market share of 20.14% in the year 2020 and will show moderate growth in 2020-2030. It is projected that Europe will show the fastest growth during the forecast period. Africa, the Middle East, and Latin America are estimated to show a considerable growth rate.
Key Players in the Market:
The important establishments in the global activated carbon market are: