Activated carbon is used for adsorption and chemical reactions in purification, decaffeination, fuel storage, water treatment, food processing and many other processes. The world activated carbon market is poised to witness significant growth during the forecast period, owing to increasing health concerns related to drinking contaminated water, enhanced environmental standards as well as growing industrialization. Environmental factors affecting availability of raw material such as coconut shells increases cost of raw material, which can hamper growth of activated carbon market. Advancement in products is further expected to boost the market growth.
A new report published by Allied Market Research, titled, “World Activated Carbon Market – Opportunities and Forecasts, 2014-2022,”, projects that the world activated carbon market would reach 2,776 kilo tons and $5,129 million corresponding revenues by 2022, growing at a CAGR of 6.83% and 9.32%, respectively from 2016 to 2022. Water treatment occupied a dominant two-fifths share of the total market in 2015 and is expected to maintain the lead throughout the forecast period. By type, powdered activated carbon segment accounted for more than half of the market revenue in 2015.
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Powdered activated carbon applications is holding major market share due to its benefits over other activated carbon types. Use of powdered activated carbon in water and air purification plants are increasing for removing impurities & pollutants such as mercury and chlorine among others
By application, liquid phase holds the substantial share as activated carbon is majorly used in this phase for purification and filtration. However, gas phase holds potential and is expected to witness fastest growth during the forecast period.
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Key findings of the study:
- By end-use, water treatment is the most prominent segment growing at a CAGR of 8.86% in terms of revenue during the forecast period
- By product type, powdered activated carbon is the largest segment at present and is expected to grow at CAGR 9.77% in terms of revenue during the forecast period
- By application, liquid phase activated carbon acquired about three-fifths share of the overall market in 2015
- Asia-Pacificis projected to occupy the fastest growing regional market, registering a CAGR of 11.12% from 2016 to 2022
By Geography, North America is the largest market at present accounting for the market share of about 44% majorly driven by the enhancing lifestyle of consumers and urbanization in the region. However, Asia-Pacific is expected to offer lucrative growth opportunities during the forecast period. Increasing demand for purified water, strict environmental standards to control pollution level, food safety concerns, and its increasing application across industries such as chemical, pharmaceutical, and automotive is expected to boost the growth of world activated carbon market.
Mergers & acquisition and new product launches with new features and added values are most preferable strategies accepted by key players of activated carbon market. The key players profiled in the report are ADA-ES Inc., Jacobi Carbons AB, Siemens Water Technologies Corp, Kureha Corporation, Calgon Carbon Corporation, Carbotech, Carbon Resources LLC, Clarinex Group, Carbon Activated Corporation and Cabot Corporation.
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