Activated Carbon Market Size Worth $8.26Bn, Globally, by 2028 at 9.6% CAGR - Exclusive Report by The Insight Partners

The Activated Carbon Market Size, Growth driven by the increasing regulations on mercury emissions and benefits of activated carbon, high demand for activated carbon, significant investments by prominent manufacturers, the increasing application of activated carbon in the water treatment industry, air & gas purification, and automotive. The water treatment segment held the largest share of the market in 2021. The automotive segment is the fastest growing segment in the global market during 2021-2028.

NEW YORK, March 14, 2022 /PRNewswire/ -- The Insight Partners published latest research study on "Activated Carbon Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Powdered, Granular, Pelletized, and Others) and Application (Water Treatment, Food & Beverages, Pharmaceuticals, Automotive, and Others)", the global activated carbon market is projected to grow from $4.35 Bn in 2021 to $8.26 Bn by 2028; it is expected to register a CAGR of 9.6% from 2021 to 2028.

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Activated Carbon Market: Competition Landscape

A few key players operating in the global market are Osaka Gas Chemical Co. Ltd; KURARAY CO., LTD.; HAYCARB (PVT) LTD.; Cabot Corporation; KUREHA CORPORATION; Activated Carbon Technologies Pty Ltd; Albemarle Corporation; CPL Activated Carbons; JACOBI CARBONS GROUP; Calgon Carbon Corporation; and James Cumming & Sons Pty Ltd.

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In 2020, Asia Pacific held the largest share of the global activated carbon market. China and India are the two leading producers of activated carbon globally. In India, the activated carbon production industry is one of the fastest-growing industries. The growing industrialization in this region and a rise in government initiatives to treat industrial waste fueled the consumption of activated carbon. The increase in population and high demand for industrial and agricultural production is responsible for releasing waste in water resources. Due to the increase demand for water in industries associated with waste generation in large proportion, the water treatment industry finds its application in Asia Pacific. Activated carbon is highly used for the purification of water. This is further expected to contribute to the growth of the market in the region.

Mercury emissions are released from coal-fired power plants and are hazardous to the environment & human health. Many countries have set regulations on the amounts of toxins released from these power plants. Developing countries have not yet established regulatory or legislative frameworks on mercury; however, mercury management is designed to prevent harmful emissions. China has taken steps to prevent and reduce pollution by mercury through several guidelines, laws, and other measurements. Advanced control technologies, including hardware and software, are applied to reduce mercury emissions. Activated carbon is one of the most prominent materials used in the hardware of these technologies to filter air. The regulations on controlling of mercury emissions to prevent diseases caused by mercury poisoning have increased in many countries. For example, Japan adopted stringent policies on mercury emissions due to the Minamata disease caused by severe mercury poisoning. Innovative technologies, such as Activated Carbon Injection, are implemented to address mercury emissions in these countries. Thus, the increasing regulations for mercury emissions across the globe is driving the demand for activated carbon.

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Activated Carbon Market: Segmental Overview

By type, the activated carbon market is segmented into powdered, granular, and pelletized & others. In 2020, the powdered segment held the largest market share. Powdered-based activated carbon is known for its efficiency and characteristics, such as fine particle size, which increases the surface area of adsorption. The size of powdered activated carbon is in the range of 5‒150Å. Powdered-based activated carbon has the lowest cost. The increasing consumption of powdered-based activated carbon will continue to boost demand during the forecast period.

Based on application, the activated carbon market is segmented into water treatment, food & beverages, pharmaceuticals, automotive, and others. In 2020, the water treatment segment held the largest market share due to increased industrialization across the globe. Activated carbon has continued to be used as a water filtering medium. The water used in manufacturing becomes contaminated and requires treatment before releasing it into water bodies. Many countries have strict regulations regarding water treatment and release of contaminated water. Due to high adsorption capacity of activated carbon caused by its porosity and large surface area, it is widely used to remove contaminants in water.

Impact of COVID-19 Pandemic on Activated Carbon Market:

The ongoing COVID-19 pandemic compelled the implementation of preventive measures that drastically hampered the situation of the chemicals & materials industry and adversely affected the growth of the market. Governments of various countries have closed their international ports, further causing disruptions in the activated carbon supply chain, thus negatively impacting the operational efficiencies of the food & beverages and automotive industries. The pandemic has negative impact on the availability of raw materials to prepare activated carbon in several countries. Coal is the major raw materials in activated carbon.

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Many countries that depend on imports of these raw materials to prepare activated carbon faced substantial challenges procuring the material. This resulted in a partial or complete shutdown of the activated carbon production sites. However, as the economies plan to revive their operations, the demand for activated carbon is expected to rise globally. The growing need for activated carbon and significant investments by prominent manufacturers to increase production capacity are expected to drive the growth of activated carbon during the forecast period. 

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