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.
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
|Study Period||Historical Data: 2017-20|
|Base Year: 2021|
|Forecast Period: 2022-27|
|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.
Based on the Type:
Here, Powdered Activated Carbon is anticipated to demonstrate the fastest growth in the Global Activated Carbon Market during the forecast period. It owes principally to its small particle size, which offers a larger surface-to-volume ratio and higher efficiency in different purification applications. Benefits like easy usage, cost-effectiveness, minimal waste sludge, lower operational costs, & effective water purification are other crucial aspects propelling the demand for powdered activated carbon, especially in process units like rapid mix basins, clarifiers, & gravity filters.
On the other hand, Granular Activated Carbon is anticipated to dominate the market with the largest share during the forecast period. It owes to their increasing utilization across several industries like food & beverage, healthcare, automotive, & industrial processing for water treatment & air purification applications due to their larger particle size, i.e., highly suitable for removing various contaminants & hazards from water, air, & gas.
Besides, granular activated carbons are also used extensively in the food & beverage industry for removing impurities like color from sweeteners, amino acids, and organic acids due to their easy regeneration & reusability, i.e., another prominent aspect boosting their demand and fueling the overall growth of the Global Activated Carbon Market.
Based on End-Users:
Here, Water Treatment acquired the largest share in the Global Activated Carbon Market in previous years, and the same trend is likely during 2022-27. It attributes primarily to the increasing water requirements of the exponentially rising population, i.e., playing a crucial role in instigating governments to address these concerns and take initiatives for water treatment. It, in turn, is escalating the demand for activated carbon to purify water by eliminating contaminants & toxins and making it safe for drinking.
With the capabilities of activated carbon to absorb organic compounds, odor, taste, and oils, its demand is widely accelerating worldwide. Besides, benefits like high porosity & larger surface area absorption, coupled with the mounting need for water treatment, are other prominent aspects augmenting the overall market growth.
On the other hand, the Food & Beverage sector is expecting notable growth in the global activated carbon market over the coming years, principally due to mounting concerns over food safety and surging need to remove contaminants like odor, color imparting substances, edible oil, toxic components, acids, etc., to attain safer food and abide by the safety & quality standards.
Geographically, the Global Activated Carbon Market expands across:
Of all regions globally, Asia-Pacific is projected to continue its dominance in the Activated Carbon Market with the largest share during 2022-27. It ascribes to the easy availability of raw materials like coconut shells, coal, oil-carbon, and phenolic resin, among others, and low-cost labor, i.e., attracting the leading players in the industry to establish their manufacturing plants across the region.
With constant technological advances in producing activated carbon, the economic conditions of different countries across the region are swiftly improving. Countries like China & India are among the prominent consumers of activated carbon, i.e., generating lucrative growth prospects for the leading players to increase their production capacities to meet the growing end-user requirements.
Moreover, the growing government focus on water treatment & air purification is another prominent factor propelling the demand for activated carbon and driving the regional market. Furthermore, the rapidly expanding food & beverage and healthcare sectors shall further spur the demand for activated chemicals and augment the market growth across Asia-Pacific through 2027.
On the other hand, North America acquired the second-largest market share in previous yearsx, principally due to massive water consumption across countries like the US & Canada, i.e., instigating governments to take active efforts toward water treatment and impose stringent regulations for industries on their waste disposal methods. It, in turn, has soared the demand for activated carbon to address these concerns and remove contaminants efficiently.
Nonetheless, Europe is anticipated to demonstrate the fastest market growth over the forecast years. It owes to stringent government norms toward bringing environmental sustainability and reduce carbon emissions that has upsurged the demand for activated carbon across different countries in the region for applications like air purification & water treatment.
Recent Developments in the Global Activated Carbon Market
Possible Restraint: Shortage of Raw Materials & Price Hikes
Since the producers of activated carbon, especially across Asia-Pacific, rely heavily on raw materials like coconut shells for production, shortage or unavailability of such raw materials due to natural calamities & disrupted value chain might restrain the growth of the Global Activated Carbon Market during 2022-27. It, in turn, is resulting in significant price hikes for activated carbon. As a result, the market is expected to witness a scarcity of suitable coal grades to produce activated carbon shall also hamper the growth of the global market expansion through 2027.
Growth Opportunities: The Advent of Reactivated Carbon
Stringent regulations by governments of different countries for water treatment & air purification are compelling the leading players in the Global Activated Carbon Market to increase their production & distribution capacities to meet the escalating consumer requirements for activated carbon. However, with the high cost of producing activated carbon, the industry leaders are actively working on manufacturing reactivated carbon due to its relatively lower production costs & higher eco-friendly properties, i.e., projecting remunerative growth prospects for the global market through 2027.
Key Questions Answered in the Market Research Report:
Frequently Asked Questions
A. The Global Activated Carbon Market is projected to witness around 7.98% CAGR during 2022-27.
A. The active participation of the leading players & researchers in expanding the application of activated carbon & enhancing its capabilities is a prominent factor projected to drive the Global Activated Carbon Market through 2027.
A. The growing application of activated carbons for water treatment due to the surging government inclination toward sufficing the burgeoning water requirements is the key trend in the Global Activated Carbon Market.
A. The food & beverage sector is anticipated to emerge as an area of remunerative opportunities for the leading players in the Global Activated Carbon Market over the forecast years.