Market Definition
Activated Carbon, also called Activated Charcoal, is the purification agent extensively used in multiple industrial applications like gas & air cleansing, water treatment, removing contamination from food & beverages, and different pharmaceutical & medical activities. With escalating environmental concerns, governments of several countries are imposing stringent norms and encouraging manufacturers to invest in developing technologies & concepts to expand the capabilities of activated Carbon.
Market Insights
The Global Activated Carbon Market is projected to grow at a CAGR of around 7.98% during the forecast period, i.e., 2022-27. The growth of market is driven primarily by the growing focus of governments of different countries worldwide on water & air purification, i.e., propelling the demand for activated carbon. Besides, with the exponentially rising population and growing water requirements, the demand for activated carbon is escalating swiftly and generating growth opportunities for the leading players to increase their production capacities, thereby driving the market
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2017-20 |
| Base Year: 2021 | |
| Forecast Period: 2022-27 | |
| CAGR (2022-2027) | 7.98% |
| Regions Covered | North America: USA, Canada, Mexico |
| South America: Brazil, Argentina, Rest of South America | |
| Europe: Germany, The UK, France, Spain, Italy, Rest of Europe | |
| Asia-Pacific: China, Japan, India, South Korea, Rest of Asia Pacific | |
| Middle East & Africa: GCC, Africa, Rest of Middle East and Africa | |
| Key Companies Profiled | Activated Carbon Technologies, Cabot Corporation, Carbon Activated Corporation, CarboTech, Donau Carbon GmbH, Ingevity, Iluka Resources, James Cumming & Sons, Kuraray, Kureha Corporation, Osaka Gas Chemicals Co., Ltd., Puragen Activated Carbons, Silcarbon Aktivkohle GmbH, Universal Carbons |
| Unit Denominations | USD Million/Billion |
In addition, the swift expansion of industries like healthcare, processing sectors, food & beverages, and water treatment, among others, coupled with growing concerns over improper waste disposal, elimination of contaminants from food, purification of water & air, etc., are other crucial aspects augmenting the growth of the global market.
Moreover, the adoption of activated carbon is also mounting for the treatment of biogas & separation of hydrogen owing to benefits like minimal manufacturing costs and increased output. Furthermore, as most industries are taking critical steps toward reducing emissions from the air, the need for activated carbon is anticipated to witness a significant upsurge for both organic & inorganic compound purification and, in turn, boost the Global Activated Carbon Market through 2027.
Impact of Covid-19 on the Global Activated Carbon Market
The advent of Covid-19 had a decelerating effect on most industries worldwide, and the Global Activated Carbon Market was no exception. The imposition of stringent movement restrictions & lockdowns by governments of different countries introduced several unprecedented challenges associated with the production & distribution of Activated Carbons. Since the governments suspended most business operations, there were supply chain disruptions and a shortage of raw materials & labor, which, in turn, hampered the production of activated carbon globally.
As a result, the leaders witnessed massive financial loss and a severe decline. However, on the other hand, due to the severity of the virus, the rise in the demand for activated carbon for various purification applications, especially water treatment, to reduce the possibility of disease spread, displayed a temporary hike in the market growth amid the crisis across end-user industries like healthcare, water treatment, and food & beverages, among others.
Nonetheless, with the gradual decline in Covid cases, governments uplifted the restrictions & allowed the recommencement of business operations. It, in turn, encouraged both manufacturers & suppliers of activated carbon to increase their production & distribution capacities to meet the burgeoning demand worldwide, which projects remunerative prospects for the global market in the years to come.
