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The key highlights of the report include:
Market Overview (2015-2025)
- Historical Market Size (2019): USD 3.93 billion
- Forecast CAGR (2020-2025): 8%
- Forecast Market Size (2025): USD 6.24 billion
The market for activated carbon is being driven by the rising demand for water filtration and air purification across the globe in the recent years. Moreover, governments are also encouraging the initiatives undertaken to improve water and air quality, further aiding the market growth. The market is further expected to grow in the developing countries like India and China as the amendments are being made in the acts, such as revisions in the environmental protection law in China. Also, the rising production of activated carbon within these countries is supporting the market growth. Other factors, like increasing disposable incomes, changing lifestyles, and rapid urbanization is enhancing the market growth.
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Industry Definition and Major Segments
Activated carbon is used for extensive applications to purify liquids and toxic gases, such as food and beverages processing, odour removal, potable water treatment, and in controlling industrial pollution. It constitutes of carbonaceous sources such as coconuts, coal, nutshells, peat, and wood.
Based on type, the market can be segmented into:
- Powdered Activated Carbon (PAC)
- Granular Activated Carbon (GAC)
By applications, the market is divided into:
- Water Treatment
- Air Treatment
- Gold Treatment
- Solvency Recovery
Based on feedstock, the market is categorised into:
- Coconut Shell
By regions, the market is segmented into:
- North America
- Middle East and Africa
- Asia Pacific
- Latin America
The market for activated carbon is expected to witness a thriving period in the forecast years as the industrial air treatment is gaining attention due to rising concerns within the industrialising countries regarding the air pollution issues. Further, the granular types of the product are anticipated to observe steady demand from the wastewater treatment industry, owing to its ability to effectively remove residual disinfectants and organic contaminants. Further, the extensive application of the product within the mining industry, specifically in the gold purification process, is expected to invigorate the market growth in the forecast period as it is used as an effective adsorbent in the gold recovery process. Thereby resulting in the increased market growth due to a rise in the gold mining activities.
Key Market Players
The major players in the market are Kuraray Co., Ltd. (TYO: 3405), Oxbow Activated Carbon LLC, Haycarb (Pvt) Ltd., Indo German Carbons Limited (IGCL), Shinkwang Chem. Ind. Co., Ltd, S.I.C.A.V Srl, Century Chemical Works Sdn. Bhd, and Cabot Corporation (NYSE: CBT), among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
Note 1: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
Note 2: For a snapshot of the primary and secondary data of the market (2015-2025), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.
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