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Activated Carbon Market to Reach USD 5.17 Bn by 2031 Driven by Growing Environmental Concerns and Stringent Regulations

Activated Carbon Market

Activated Carbon Market

"Purifying the Future: Exploring the Expansive Potential of Activated Carbon Market for Sustainable Solutions in Air and Water Treatment Technologies."

TEXES, AUSTIN, UNITED STATES, April 11, 2024 / -- Surging Demand for Air and Water Purification Propels Activated Carbon Market

The global activated carbon market is poised for significant growth, reaching a projected value of USD 5.17 billion by 2031. This expansion is primarily driven by the growing focus on environmental sustainability and stricter regulations mandating cleaner air and water. Activated carbon, a highly porous material with exceptional adsorption capabilities, plays a crucial role in purifying air and water by removing contaminants from industrial waste effluents, flue gas, natural gas, and other sources.

The SNS Insider report estimates the activated carbon market size at USD 3.82 billion in 2023, with a projected CAGR of 3.85% over the forecast period (2024-2031). This growth trajectory reflects the increasing demand for activated carbon across various industries. The activated carbon market is witnessing remarkable growth driven by its extensive applications across diverse industries such as water treatment, air purification, food and beverage processing, pharmaceuticals, and automotive. Activated carbon, also known as activated charcoal, is a highly porous form of carbon with a large surface area and adsorptive properties. It is produced by heating carbonaceous materials such as coconut shells, wood, or coal to high temperatures in the absence of oxygen, resulting in a highly porous structure that can adsorb a wide range of contaminants and impurities from gases, liquids, and solutions.

Moreover, the growing awareness of environmental sustainability and regulatory compliance is driving market innovation and product development in the activated carbon industry. Manufacturers are developing sustainable production methods, such as utilizing renewable raw materials and employing energy-efficient manufacturing processes, to reduce carbon footprint and minimize environmental impact. Additionally, the development of specialty activated carbon products with tailored properties such as high adsorption capacity, rapid kinetics, and selective adsorption for specific contaminants further expands the application possibilities and market opportunities in industries such as environmental remediation, gas purification, and automotive emissions control.

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Some of the Key Players Included are:
• Oxbow Activated Carbon LLC.
• Boyce Carbon
• CarbPure Technologies
• Cabot Corporation
• Osaka Gas Chemical Co. Ltd.
• Calgon Carbon Corporation
• Evoqua Water Technologies LLC
• Siemens Water Technologies Corp.
• Carbon Resources LLC
• Kuraray Co. Ltd
• Carbo Tech AC GmbH
• Silcarbon Aktivkohle GmbH
• Jacobi Carbons AB

Market Report Scope:
Several key factors are propelling the activated carbon market forward:

• Environmental Imperatives:Heightened concerns about water and air quality, particularly in industrial settings, are driving the adoption of activated carbon for purification processes. Stringent environmental regulations across the globe further necessitate the use of effective filtration solutions, creating a strong demand for activated carbon.

• Sustainability Focus:The growing emphasis on sustainable practices is bolstering the market's expansion. Activated carbon is recognized for its effectiveness and eco-friendly nature, making it an attractive choice for environmentally conscious industries.

• Technological Advancements:Continuous advancements in technology are leading to the development of novel activated carbon products with enhanced adsorption capacities and improved cost-effectiveness. This fosters greater efficiency and affordability in purification processes, further driving market growth.

Market Analysis:
The increasing popularity of smart electronics presents a burgeoning opportunity for the activated carbon market. These devices often incorporate activated carbon filters for odour control and air purification. Activated carbon effectively traps and removes volatile organic compounds (VOCs) and other harmful substances, promoting better indoor air quality. With the demand for smart devices and internet-of-things (IoT) gadgets on the rise, the adoption of activated carbon filters is expected to rise significantly, addressing consumer concerns about air purity and health.

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Market Segmentation:
The activated carbon market is segmented by type, application, end-use industry, and raw material. Among types, powdered activated carbon (PAC) currently dominates the market, accounting for over 60% of the revenue share in 2023. This dominance can be attributed to several factors such PAC's fine particle size allows for efficient adsorption of contaminants in both liquid and gas phases. PAC offers a cost-competitive solution compared to other types of activated carbon. PAC can be easily integrated into existing filtration systems, making it a preferred choice for water and air purification in various sectors like water treatment, food and beverage, and pharmaceuticals.

By Type
• Powdered Activated Carbon
• Granulated Activated Carbon
• Others

By Raw Material
• Coal
• Wood
• Coconut
• Peat
• Others

By Application
• Liquid Phase Application
• Gas Phase Application

By End-Use Industry
• Water Treatment
• Pharmaceutical & Medical
• Automotive
• Food & Beverage Processing
• Air Purification
• Others

Impact of Russia-Ukraine War:
The ongoing war between Russia and Ukraine has the potential to disrupt the global supply chain of activated carbon. While Russia was not a major player in terms of import or export, trade restrictions and sanctions can create logistical challenges, hindering the movement of raw materials or finish products. Border closures and difficulties in obtaining materials can put a strain on production and delivery timeframes. Additionally, the economic uncertainty caused by the war might lead to reduced consumer spending and delayed investments in industries that rely heavily on activated carbon, impacting market demand.

Impact of Economic Slowdown:
Economic downturns can dampen the demand for activated carbon. During such periods, industries that heavily rely on activated carbon for purification processes, such as chemicals, food and beverage, and pharmaceuticals, are likely to cut back on production. This translates to a decrease in demand for activated carbon. Furthermore, economic uncertainty can lead companies to tighten their budgets and delay investments in new equipment or infrastructure, impacting the demand for activated carbon used in pollution control systems and water treatment plants across various sectors.

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Regional Analysis:
The Asia Pacific region currently holds the highest revenue share in the activated carbon market, accounting for approximately 45.6% in 2023. This dominance can be attributed to several factors: The burgeoning industrial sector, particularly in countries like China and India, is driving the demand for activated carbon in water treatment, air purification, and various industrial processes. Stringent environmental regulations in the region are mandating the adoption of cleaner technologies, propelling the use of activated carbon across different industries. Growing awareness of the health risks associated with pollution is leading to a greater focus on environmental.

North America is the second largest region in the Activated Carbon Market during the forecast period. Stringent environmental regulations and heightened awareness of pollution control drive the demand for activated carbon across industries such as water treatment, air purification, and gas emissions control. Additionally, technological advancements and innovation in activated carbon products cater to the evolving needs of various end-use sectors, further propelling market growth in the region. Moreover, the presence of key market players and significant investments in research and development contribute to the robustness of the activated carbon market in North America.

Recent Developments:
In February 2023, Evoqua Water Technologies, a leader in mission-critical water treatment solutions, announced a definitive agreement to divest its carbon reactivation and slurry operations to DESOTEC, the European market leader in industrial mobile filtration solutions using activated carbon technology.
In October 2022, Kuraray Co., Ltd. announced that Chemviron S.A., the European base of its U.S.-based subsidiary Calgon Carbon Corporation, completed the expansion and testing of reactivated carbon production facilities at its Feluy Plant and has begun full-scale operations.
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