|Status : Published||Published On : Mar, 2021||Report Code : VRCH2017||Industry : Chemicals & Materials||Available Format :||Page : 128|
The global activated carbon market size in terms of volume was 2.8 million metric tons in 2020 and is expected to reach 3.75 million metric tons by 2027, growing at a CAGR of 6.6% during 2021 – 2027. Activated carbon market is predicted to grow moderately due to the increasing demand for water purification, rise in the demand for mercury removal plants and increasing government subsidies and environmental standards.
Insight by Type
On the basis of type, the global activated carbon market is segmented into powdered activated carbon, granular activated carbon, and others. Among these types, the powdered activated carbon is predicted to have the highest growth rate over the forecast period in the global activated carbon market. The powdered activated carbon segment is predicted to grow due to the alarming air pollution and water pollution which creates more demand for their purification through the powdered activated carbon.
Insight by Application
On the basis of application, the global activated carbon market is bifurcated into liquid phase and gaseous phase. Between these, gaseous phase is predicted to grow at the fastest rate during the forecast period, owing to the increase in demand for air stripper, soil vapor extraction, tank vent absorbers, odor control, solvent recovery, and mercury removals plants.
Insight by End User
On the basis of end user, the global activated carbon market is segmented into water treatment, food & beverage processing, pharmaceutical & medical, automotive, air purification, and others. Among all the end user, the market in automotive sector is predicted to grow significantly over the forecast period. The automotive market is predicted to grow due to the increase in demand for pollution control systems and with the help of activated carbon, it can absorb high levels of volatile hydrocarbons in gasoline tank emissions to prevent them from moving into the ambient air strict environmental standards to control pollution level which helps to boost to the overall segment during the forecast period.
Consumers are actively increasing their seriousness with regards to their safety hazards involved with consuming impure water. So, improved management of drinking water, along with increasing demand and tightening environmental requirements and government initiatives is predicted to be the major driving factor for the global activated carbon market.
The price of raw material is considered to be very high due to the unavailability of natural resource and the changing environmental conditions have an impact on the production of raw material is considered to hamper the growth of the global activated carbon market over the forecast period.
Rise in the population and health standards are predicted to act as an opportunity for the global activated carbon market in the upcoming years due to the higher range of applications.
North America is predicted to have the highest share in the global activated carbon market over the forecast period. The North American market is predicted to grow due to the increasing usage of activated carbon and implementation of environmental regulations to control air and water pollution level.
Asia-Pacific is predicted to have the highest growth rate over the forecast period. The APAC market is predicted to grow due to the increasing population and pollution level affecting the environment for human health.
Some of the key players operating in the global activated carbon market are Oxbow Activated Carbon LLC, Silcarbon Aktivkohle GmbH, Kuraray Co. Ltd., Calgon Carbon Corporation, Jacobi Carbons AB, Cabot Corporation, Haycarb plc, and ADA-ES Inc.
Source: VynZ Research
Source: VynZ Research