ALBANY, New York, June 13, 2019 /PRNewswire/ -- The global activated carbon market is estimated to experience a significant growth in coming years due to its rising application in different sectors. Increasing demand is encouraging firms to explore this market, and existing ones to expand its product portfolio. Looking at this, the competitive scenario is likely to become fragmented gradually, in forthcoming years. Global activated carbon market seems to be majorly product-driven. As a result, the players in the market are investing heavily in research and development activities to mark their brand name. Moreover, with technological advancements, firms are tapping the opportunities by entering into reactivation businesses, by giving on-site services to the clients. Some of the key players operating in global activated carbon market are Osaka Gas Chemical Co. Ltd., Jacobi Carbons AB, Cabot Corporation, Calgon Carbon Corp., among others.
According to a recent report by Transparency Market Research, the global activated carbon market is prognosticated to register a steady CAGR of over 8.2% during the forecast period from 2018 to 2026, so as to reach revenue worth US$6.0 bn by the end of 2026.
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Activated carbon is widely used in several applications in different industries. Over 35% of activated carbon produced globally, goes in treatment of wastewater and water. The carbon is utilized in water treatment because it helps improve odor and taste of water, and reduces chlorine content by stimulating necessary catalytic reactions. Regionally, Asia Pacific led the global activated carbon market in 2017, in terms of volume and value. Rising demand of activated carbon in several industrial applications for example, pharmaceuticals, manufacturing, and water and wastewater treatment in China and India, is pumping growth in activated carbon market in the region.
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Adsorption Properties of Activated Carbon to make it an Obvious Choice in Water Treatment
Granular and powdered activated carbon is witnessing a rise in demand due to increasing air purification and consumption of water in coal fired plants and clicker cement sector. This is foreseen to fuel the growth of global activated carbon market.
Activated carbon is porous in structure, with high adsorption properties. As a result, it is consumed widely in water and air purification procedures, out of several end use sectors. Besides, increased usage in elimination of acids, harmful gases, mercury, and metallic particles from oil and coal based plants are likely to propel the growth in global activated carbon market. Changing lifestyle, along with rising awareness about sound health is another factor is expected to contribute in the global market growth in future.
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Reactivation is the process used to recover activated carbon from the used activated carbon. This process takes place when the existing activated carbon loses its adsorption abilities. When it becomes inactive, properties of activated carbon can be gained back through thermal activation. A key benefit of thermal reactivation is that the amount of carbon dioxide emitted is comparatively lesser than that carbon emitted during the production of activated carbon. This turns up as a major factor electrifying the growth of global activated carbon market.
Inability to Absorb Nutrition by Human Body to Limit Market Growth
Activated carbon is known for its detox abilities as well. Due to this, it is widely used in body detox food products. But, human body does not absorb the medicines and vitamins owing to high usage of activated carbon. This factor likely to hamper the surge in demand in global activated carbon market in forthcoming years.
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This analysis is based on a recent market research report by Transparency Market Research, 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."
The global activated carbon market can be segmented as follows:
- Others (including Honeycombs and Activated Carbon Fibers)
- 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)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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