LOS ANGELES, Jan. 10, 2019 (GLOBE NEWSWIRE) -- According to QY Research’s new report, the global activated carbon fiber market is projected to register a moderate CAGR of 5.53% during the forecast period 2017-2025 to secure a valuation of US$ 530 Mn by the end of 2025.

The report, titled “Global Activated Carbon Fiber Market Research Report 2018,” mentions that the market stood at a US$ 344.3 Mn mark in 2017. The global production of activated carbon fiber was 4.84 K MT in 2013 and it reached 5.58 K MT in 2017 at a lethargic CAGR of 3.6% between 2013 and 2017.

Global Activated Carbon Fiber Market: Drivers and Restraints

The global activated carbon fiber market is foretold to gain from increasing awareness about wastewater treatment. The demand for activated carbon fiber could improve with the growing need for drinking water purification, especially in developing countries. Furthermore, rising number of industrial applications are envisaged to create lucrative opportunities for market players.

The fluctuating availability of raw materials and expensive cost of carbon fiber are expected to weaken the growth of the global activated carbon fiber market.

Global Activated Carbon Fiber Market: Forecast by Product and Application

The global activated carbon fiber market is segmented into pitch-based, polyacrylonitrile (PAN)-based, viscose staple based, and others. The products are usually offered in different thicknesses, i.e. 3-4 mm, 2.5 mm, 1.2 mm, and 0.7 mm. However, they are similarly priced in general.

Pitch-based products are mostly manufactured by Japanese players. Chinese companies have restrained themselves from manufacturing the products due to their relatively expensive cost in the market. They have also planned to stop or reduce the production of PAN-based activated carbon fiber since 2016 because of the product’s low performance. Another reason for this could be the increasing incidence of workers hurting their hands during the manufacture of PAN-based products, which accounted for a 4.0% share of the global activated carbon fiber market.

On the basis of application, the global activated carbon fiber market is categorized into catalyst carrier, water treatment, air purification, solvent recovery, and others. In 2017, water treatment, air purification, and solvent recovery collected an aggregate share of 88.0%.

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Global Activated Carbon Fiber Market: Forecast by Region

By geography, the global activated carbon fiber market is classified into Japan, China, Europe, North America, and the Rest of the World.

The global activated carbon fiber market witnessed the dominance of Japan in 2017 when the country secured a strong share of 69.0%. In the same year, China followed Japan from afar as it accounted for a 27.0% share. The China market is forecast to continue to expand in the next five years. Emerging economies are foreseen to show decent growth in the coming years.

Global Activated Carbon Fiber Market: Key Players

China marks the presence of key players such as Nantong Senyou, Anhui Jialiqi, Jiangsu Tongkang, and Sutong Carbon Fiber. In Taiwan, the largest producer of activated carbon fiber is Evertech Envisafe Ecology. Awa Paper, Gun Ei Chemical, Unitika, and Kuraray. Nevertheless, Japan’s Toyobo is the largest activated carbon fiber company in the world that accounts for a 41.6% share of the global market. Japan witnesses the lead secured by top four suppliers in the country-level market: Awa Paper,

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