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NEW YORK , Aug. 22, 2022 /PRNewswire/ -- The Insight Partners published latest research study on activated carbon market was evaluated at US$ 4.12 Billion in 2020 and is expected to hit US$ 8.26 Billion by 2028 at a record annual growth rate of 9.6% from 2021 to 2028. Rising demand for wastewater treatment and increasing regulations on mercury emissions are the potential aspects proliferating the market.
The urban wastewater treatment plants (WWTP) are critical to the environmental sustainability and resources. The demand for wastewater treatment grew significantly over the past two decades. Activated carbon is predominantly used in various wastewater treatment facilities as it can be obtained from bioresources and is comparatively cheaper. In simple filtration process, the powdered activated carbon conveniently dissipates the impurities in water. Several countries are introducing well-defined policies and accumulating financial resources to build water purification facilities and sewers. In developing countries, the carbon filtration method for wastewater treatment has been proved to be cost-effective.
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Activated Carbon Market Report Scope & Strategic Insights:
No. of Charts & Figures
North America; Europe; Asia Pacific; Latin America; MEA
US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Key players shaping the global activated carbon market are Osaka Gas Chemical Co. Ltd; Kuraray Co., Ltd; Haycarb (Pvt) Ltd; Kureha Corporation; Cabot Corporation; Activated Carbon Technologies Pty Ltd; Albemarle Corporation; CPL Activated Carbons; Jacobi Carbons Group; Calgon Carbon Corporation; and James Cumming & Sons Pty Ltd, among others.
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Mercury emissions from coal-fired power plants are hazardous to environment and human health. A number of countries have set regulations on the amount of toxin released from industrial processes. Due to global mercury partnership, the regulatory policies in advanced countries are intensified; however, in developing economies, the legislative framework for mercury emission is not precisely established. Advanced control technologies, including hardware and software, are used to curb mercury emissions. Activated carbon is an integral part of these hardware used for air filtration. The zeolite or activated carbon serves the purpose of adsorption of mercury vapors in combustion facilities and power plants. The industries that involve mercury for various processes utilize activated carbon for air and water treatment to abide by stringent government laws. These efforts with the aforesaid elements bolster the global activated carbon market. On the other hand, fluctuating prices of raw material impedes the growth of global activated carbon market.
By type, the market is segmented into powdered, granular, and pelletized & others. The powdered segment held the largest market share in 2020 due to the rising integration of powder-based activated carbon in the industries. Powdered activated carbon is less expensive than granular and has fine particle size. The size increases the surface area of adsorbents and the overall efficiency of the adsorbtion process. Therefore, the segment finds applications in water treatment, food & beverages, and automotive.
The global market is further segmented into five main regions—North America, Europe , Asia Pacific (APAC), the Middle East and Africa (MEA), and South and Central America (SAM). In 2020, Asia Pacific had the largest share in the activated carbon market. The continued growth in the automotive and food & beverages industries due to rising population and urbanization is fueling the activated carbon market growth during the forecast period. The rising wastewater management techniques reduce water scarcity and provide water for agriculutural and industrial use.
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Based on application, the global activated carbon market is segmented into water treatment, food & beverages, pharmaceuticals, automotive, and others. The water treatment segment held the largest market share in 2020. Activated carbon is increasingly used in service water treatment, groundwater rehabilitation, and drinking water treatment. It is also used in treatment of industrial wastewater to recover useful materials and the same treated water is further consumed for manufacturing use.
In 2020, Asia Pacific held the largest revenue share of the global activated carbon market. In Asia Pacific , the water treatment industry is the largest consumer of activated carbon. Initiatives by various government organizations, such as the Australian and New Zealand Environment and Conservation Council and the Ministry of Environment and Forests (the Government of India ), to remove waste and undesirable compounds from industrial wastewater before disposal is driving the water treatment industry in the region. Moreover, Asia Pacific has a dominant automotive industry where activated carbon is extensively used to manufacture canisters. These factors are growing the demand for activated carbon in the region.
The overall global activated carbon market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants involved in this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the activated carbon market.
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In 2021, Asia Pacific held the largest share of the global activated carbon market. China and India are the two leading producers of activated carbon across the world. In India , the activated carbon production industry is among the fastest-growing ones. The growing industrialization in this region, coupled with rise in government initiatives for treatment of industrial waste, has fueled the consumption of activated carbon extensively.
The powdered segment held the largest market share. Powdered-based activated carbon is known for its efficiency and characteristics such as fine particle size which increases the surface area of adsorption. The cost of powdered based is low as compared to other type of activated carbon.
The water treatment segment held the largest share of the market in 2021. Activated carbon has been used as a water filtering medium for many years. Due to its high adsorption capacity resulted from its porosity and large surface area, it is widely used for the removal of contaminants in water.
The automotive segment is the fastest growing segment in the global activated carbon market during the forecasted period. Activated carbon is used in canisters to control emissions in fossil fuel vehicles. Furthermore, activated carbon is used in cabin air filters to reduce the odor.
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Impact of the COVID-19 Pandemic on Activated Carbon Market
The global economy have been hit hard due to the COVID-19 pandemic. Governments of various regions are taking possible steps to restrict the spread of SARS-CoV-2 by announcing country-wide lockdown, which directly impacts the growth of industrial sectors. Many automotive and pharmaceuticals manufacturers faced challenges procuring activated carbon. Moreover, supply constraints have significantly raised the costs of activated carbon. The COVID-19 pandemic had a significant impact on manufacturing industries across the globe, with a huge decline in the production process. However, the market has recovered due to the rising demand for activated carbon
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