Market Insight
MRFR (Market Research Future) suggests in its extensive report that the Activated Carbon Market size is projected to be worth USD 9,593.97 Million by 2030, registering a CAGR of 8.59% during the forecast period (2020 - 2030), The market was valued at USD 4,917.0 Million in 2030. We will provide COVID-19 impact analysis with the report, along with all the extensive key developments in the market post the coronavirus disease outbreak.
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COVID-19 Impact on the Activated Carbon Market
The COVID-19 outbreak has caused massive infections as well as death rates across the globe. The pandemic is far from being under control and a vaccine has still not been found, therefore protection remains the only solution to survive the SARS-CoV-2 infection. Face mask is the most common equipment that is being used across countries to ward of any chances of the novel coronavirus. Masks that are made of activated carbon market help adsorb and disinfect SARS-CoV-2 as it eliminates inorganic, pathogenic and organic contaminants. This factor has been favorable for activated carbon, in terms of demand, despite the lockdown interrupting the manufacturing activities.
The COVID-19 pandemic has also bolstered the demand for water treatment chemicals, water treatment systems, membranes and dewatering equipment, in light of the public health guidelines coupled with the rising need for a hygienic environment, which is set to benefit the activated carbon market in the long term.
Growth Inducers and Barriers
Activated carbon’s use in water and sewage treatment is quite extensive, since it helps remove dissolved and particulate impurities. It also gets rid of chlorine and organic impurities from water. It has widespread applications in manufacturing and greenhouses industries for air purification and also for the removal of odors, harmful dust particles and toxic gases. Pharmaceutical and medical, automotive and food and beverage processing industries are some of the key end-use industries in the global market. The growth in water and air pollution is prompting governments to impose stringent water and air pollution control as well as waste treatment norms. The US Environmental Protection Agency (EPA) along with various government agencies recommend activated carbon for the removal of chemical impurities like mercury, which has led to its higher use across industries.
Escalating use of activated carbon in soil remediation applications also boosts market growth across the globe. In the next few years, various production facilities in Europe and the US including clinker cement plants and coal-fired power plants will need to adhere to the strict emissions standards pertaining to mercury and several hazardous air pollutants. This will most likely amplify the demand for activated carbon in the mercury control technology for air purification in the industrial sector.
Activated carbon manufacturers frequently conduct research and development activities using some of the most advanced technologies to come up with innovative activated carbon products that have certain applications. These research and development activities help vendors develop more advanced products for applications like hydrogen sulfide removal, while also outrivaling the product ranges being offered by other companies in the global market. Expansion of production capacity also remains one of the top strategies adopted by the market leaders to remain competitive. For instance, in September 2020, Calgon carbon bolstered its production capacity by adding a new activated carbon recycling furnace at its Belgium site, adding close to 24 million pounds annually to the total capacity.
Key Players
Some of the key players operating in the global Activated Carbon are Cabot Corporation, Osaka Gas Chemicals Co., Ltd, Kuraray Co., Ltd, Haycarb (Pvt) Ltd, Kureha Corporation, Donau Carbon GmbH, DESOTEC Activated Carbon, Oxbow Activated Carbon, Silcarbon Aktivkohle GmbH, Karbonous Inc, and Lenntech BV. Cabot Corporation, Osaka Gas Chemicals Co., Ltd, Kuraray Co., Ltd, Haycarb (Pvt) Ltd, and Kureha Corporation.
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Activated Carbon Market - Segments:
The key segments as per which the market has been studied in the report are type and application.
The key types of activated carbon in the market are extruded activated carbon, powdered activated carbon and granulated activated carbon, among others. In 2017, the lead was taken by the powdered activated carbon segment, with a share of 53% and is presumed to attain the fastest CAGR of over 8% in the coming years. The powdered activated carbon market is projected to reach USD 3800 million by 2023-end, given their expanding applications in gas, air and water purification in food beverage, automotive and industrial chemicals industries.
Metal extraction, air purification, industrial chemicals, automotive, catalyst, pharmaceuticals, water purification and food beverage are some of the primary application areas of activated carbon. The water purification segment has been in the lead since 2018, seizing a lucrative portion of 36% in the worldwide market.
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Global Activated Carbon Market - Regional Analysis
The activated carbon industry can be regionally split into Latin America, the Middle East Africa/MEA, Europe/EU and Asia Pacific/APAC along with North America.
APAC has remained profitable since securing the leading position in 2017 and could record a growth rate of 9.93% over the given period. China, India and Japan will be the market leaders in the region during the review period, given the growing need for air and water purification in these countries. Coconut shells are the key raw materials used in the region to produce activated charcoal. Therefore, since economies such as the Philippines, Indonesia, Sri Lanka, Malaysia and India have tropical climate that facilitates cultivation of coconut, APAC has managed to emerge as a prominent raw material supplier in the world.
North America has landed at the second spot in the global industry and had stood at USD 914 million in the year 2017. The market in the region benefits from the increasing environmental concerns and the surge in government initiatives and stringent standards. Consequently, mercury absorption, water treatment and air purification are currently the chief application areas of activated carbon in North America.
Europe captured a share of 15.53% in 2017, on account of the rising applications of activated carbon in the food and beverage industry along with the surging use-cases in healthcare and pharmaceutical sectors.
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