ID: MRFR/CnM/1212-CR | February 2021 | Region: Global | 185 pages
In 2020, the activated carbon market value is registered as USD 3.93 billion and is expected to grow at a significant rate of 8.31% CAGR and is projected to reach USD 9, 425.6 million during the forecast period (2021-2028).
The organic material that is processed with high carbon content produces the activated carbon. The major property of the activated carbon is physical adsorption that is useful for purification, decaffeination, medicine, metal fishing, filters, and removal of pollutants and fuel storage.
Liquids and gaseous phases of the carbon product enhance its use in dissolved radon, removal of lead, other odor-causing compounds, and mercury.
The COVID-19 outbreak shows an adverse effect on the activated carbon market. Due to the lockdown, the supply chains are disrupted and halts the production of activated carbon. To control the spread of the virus and protect the workers, most companies restricted travel and face-to-face meetings for the employees. As per the United States, according to the report of The World Economic Situation and Prospects, the global economy is estimated to contract by 3% or more instead of registering 2.5% growth.
The manufacturing industries are facing various issues due to the transportation restrictions and lockdown of cities. Many industries were forced to either shut down temporarily or dramatically scale back production thanks to the lockdowns and quarantines. To manage the supply of raw materials, the sourcing team is working closely with suppliers. The market key players are struggling a lot for regaining their profits by managing many issues like monitoring and managing the extent and duration of any requirements that impact their physical locations. The Intergovernmental Forum on Mining, Minerals, and Metals states that nearly 305 million workers lost their jobs due to the COVID-19 outbreak. In a short period, the activated carbon market is impacted and further, the operations get back to normal.
The prominent key players in the activated carbon market outlook are the following:
The increase in demand for activated carbon in the pharmaceuticals and healthcare industry are the major factors driving the market growth. Several environmental regulations like Clean Water Act and Best Available Technology is using the carbon product for mercury emissions control. Stringent government regulations regarding toxic gas emissions are propelling market growth. Growing automobile ownership rates, enhanced drinking water treatments, and rising manufacturing & environmental standards are boosting the growth of the activated carbon industry. According to the report of the World Health Organization (WHO), nearly 3.4 million people, mostly, children cause death due to water-related diseases.
The shortage of raw materials is restricting market growth. Activated carbon filters are not effective for eliminating few types of chemicals like nitrates, sodium, heavy metals, and fluoride which is hampering the market growth.
Stringent environmental regulations regarding mercury pollution are accelerating market growth. Rising demand for water treatment applications is driving the growth of the market.
The activated carbon filters stopped working when the bonding sites are filled with contaminants and this needs frequent replacement of carbon filters. Apart, these filters are not working effectively against a few pathogenic bacteria and viruses which results in bacterial growth. Moreover, powdered activated carbon is cannot reactivate after use and also very complex to dig out of water treatment reservoirs sometimes. These are the factors challenging the market growth.
Activated Carbon Market Revenue, by Application, 2020 (USD Million)
Sources: MRFR Analysis
The global activated carbon market has been divided into segments based on type, application, and region.
Based on Type
The global activated carbon market based on type is classified into powdered activated carbon, granular activated carbon, extruded activated carbon, and others. Out of these types, powdered activated carbon is holding the highest market share due to the widespread use of powdered activated carbon in water, gas, and air purification in various industries like food & beverage, automotive, industrial chemicals, and pharmaceutical industries. Worldwide, the increasing demand for water purification and wastewater treatment is a driving factor for the growth of the global market.
Based on Application
By application, the global activated carbon is categorized into various applications like water purification, air purification, industrial chemicals, food & beverage, metal extraction, pharmaceuticals, automotive, catalyst, and others. In 2019, the water purification segment is holding the largest market share of more than 30% with a CAGR value of 8% in terms of value. The water purification system is in a leading position due to the growing utilization of the product in municipal, residential, and industrial water treatment. Further, it is followed by the air purification segment predicted with a 9% CAGR during the assessment period.
Based on Region
Region-wise, the global carbon market is analyzed into five main geographies like Europe, Asia-Pacific, North America, Latin America, and the Middle East & Africa. Among these regions, the Asia-Pacific region is accounting for the largest market share due to the robust growth of chemicals, food & beverage, and energy industries in emerging countries like India, China, and Indonesia.
Regional Analysis -
Global Activated Carbon Market Share, by Region, 2020 (%)
Sources: MRFR Analysis
Geographically, the activated carbon market is divided into five major regions such as North America, Latin America, Asia-Pacific, Europe, and the Middle East & Africa. Owing to the robust growth of food & beverages, chemicals, and energy industries in emerging countries like India, China, and Indonesia, Asia-Pacific is holding the maximum activated carbon market share. Due to the scarcity of water, the need for water purification and reuse in the industrial sector is rising which accelerates the demand for the carbon market in this region.
To control the gaseous emissions from automobiles, the use of activated carbon is rising and the growth of the automotive industry in this region is expected to escalate the market growth in this region during the review period. Worldwide, China is the number one producer and consumer of activated carbon.
This global activated carbon market research includes the Market Overview, COVID-19 analysis, Market Dynamics, Study Objectives, Segment Overview, Regional Analysis, Competitive Landscape, Recent developments, Segmentation Table, and FAQs. The market scenario includes the activated carbon market drivers, restraints, challenges, and opportunities. The carbon market forecast segments are type, application, and region. Analyze the report statistics to see the growth forecast of this market in the upcoming years.
The activated carbon market trends have been segmented globally based on the type, application, and region.
Powdered activated carbon, extruded activated carbon, granular activated carbon, and others are few types of market.
Water purification, air purification, industrial chemicals, food & beverage, metal extraction, pharmaceuticals, automotive, catalyst, and others.
Asia-Pacific, Europe, North America, and the rest of the world are the four main geographies included in the activated carbon market.
|Market Size||USD 9,425.6 Million|
|CAGR||CAGR of 8.31% (2020-2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Basis of type, application, and region.|
|Geographies Covered||Type, Application, End-Use Industry and Region.|
|Key Vendors||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|
|Key Market Opportunities||Growing demand in the pharmaceuticals and healthcare industry are few factors positively affecting the growth of this market|
|Key Market Drivers||The global activated carbon market is driven by the use of activated carbon in adsorbing high levels of mercury.|
Frequently Asked Questions (FAQ) :
The global activated carbon market will be worth USD 7,032.5 million by 2023.
The global activated carbon market can expand at 8.14% CAGR from 2018 to 2023.
The global activated carbon market is driven by the use of activated carbon in adsorbing high levels of mercury.
By ‘type’, the powdered activated carbon segment can dominate the global activated carbon segment and touch a value of USD 3800 million by 2023.
DESOTEC Activated Carbon, Oxbow Activated Carbon, Silcarbon Aktivkohle GmbH, Prominent Systems, Inc., Kuraray Co., Ltd, Donau Carbon GmbH, Osaka Gas Chemicals Co., Ltd, Lenntech BV, Haycarb (Pvt) Ltd, Cabot Corporation, and Kureha Corporation are major players of the global activated carbon market.