ALBANY, New York, January 22, 2019 /PRNewswire/ --
Transparency Market Research (TMR) witnesses the global activated carbon market has a highly consolidative vendor landscape. Some of the companies operating in the global activated carbon market are Cabot Corporation, Osaka Gas Chemicals Co., Ltd., Calgon Carbon Corporation, Haycarb PLC, and ADA Carbon Solutions, Inc., CarboTech AC GmbH. In 2017, the four players such as Cabot Corporation, Osaka Gas Chemicals Co., Ltd., Calgon Carbon Corporation, Haycarb PLC dominated the activated carbon market.
According to TMR, the global activated carbon market is expected to attain a value of US$ 6.0 bn by the end of the year 2026 rising with a CAGR of 8.2% over the forecast period from 2018 and 2026.
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Based on the raw material, the coal-based segment dominated the global activated carbon market and is expected to remain dominant over the forecast period. On the basis of form, the granular form segment is expected to dominate the global activated carbon market by accounting leading share of 40% over the forecast period. Based on the region, Asia Pacific dominated the global activated carbon market by accounted for a leading share of 30% in the year 2017 in the global activated carbon market. Additionally, North America accounted for the share of 25% of the global activated carbon market in the same year.
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Growing Awareness about Environment to Propel Growth
Growing awareness for consumption of clean water and the rising number of water treatment plants due to numerous subsidies availed by governments are offering benefit to the growth of the global activated carbon market. Activated carbon has extensive application in air purification, groundwater purification, and water filtration. Numerous governments are offering subsidiaries for water purification and offering rapid industrialization in developing countries, which is offering benefits to the growth of the global activated carbon market.
Numerous regulatory agencies have imposed stringent regulations for curbing the mercury emission in the petrochemical industries such as Air Toxic Standard (MATS) on EPA. The agency is trying to curb emission level of mercury and lower the emission from manufacturing the chemicals, oil & gas, and electricity from power plants. These initiatives are boosting adoption of activated carbon and likely to propel the growth of the global activated carbon market.
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Numerous Opportunities due to High Adoption of Safety Equipment to Propel Growth
Growing demand for activated carbon for ensuring the safety of the environment and adopting the safety devices and systems such as air purifier is boosting the growth of the global activated carbon market. Furthermore, the market is expected to gain traction due to its high capacity to absorb carbon on a high level. The activated carbon is manufactured from the coconut shell and peat. The high carbon content in the shell creates foam for production and increases the absorption capacity, which is propelling the growth of the global activated carbon market. The aforementioned factors are expected to offer lucrative opportunities for growth of the global activated carbon market.
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This information is encompassed in the report by TMR, titled "Activated Carbon Market (Raw Material - Coal based, Coconut Shell based, Wood based; Form - Powdered, Granular, Extruded; Application - Water and Wastewater Treatment, Gas and Air Treatment, Food and Beverages, Industrial Chemicals, Pharmaceuticals, Mining, Automotive) - Global Industry Analysis, Value, Share, Growth, Trends, and Forecast 2018 - 2026."
For the study, the activated carbon market has been segmented as follows:
- Others (including Honeycombs and Activated Carbon Fibers)
By Raw Material
- Coconut Shell-based
- Others (including Olive Stones and Petroleum Pitch)
- Water & Wastewater Treatment
- Gas & Air Treatment
- Food & Beverages
- Industrial Chemicals
- Others (Including Personal Care and Gold Metal Catalyst)
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