Global Activated Carbon Market Report 2022: Market is Expected to Record a Value of USD 10947.3 Million in 2028, Rising at a CAGR of 9.8%; Says Vantage Market Research

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WASHINGTON, Jan. 21, 2022 (GLOBE NEWSWIRE) -- The Global Activated Carbon Market size is expected to reach 10947.3 Million by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 9.8% during the forecast period. Activated carbon is largely used in water treatment and air purification due to the various regulations applied by the government for the removal of mercury from power plants. This is one of the key factors that bolster the growth of Activated Carbon Market in the coming years, states Vantage Market Research, in a report, titled “Activated Carbon Market by Type (Powdered, Granulated, Others), by Application (Liquid, Gas, Others), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”. The market size valued at 5,689.7 Million in 2021.

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Market Overview:

Use of Mercury Control Technology for Industrial Air Purification Boost the Market Demand

The increasing need for mercury control technology for industrial air purification is accelerated the large demand for activated carbon market growth. In addition, due to the various stringent regulations imposed by government to meet specific emission limits is further fuelling the activated carbon market demand. For instance, U.S. Environmental Protection Agency (EPA), has set Maximum Achievable Control Technology (MACT) standards to meet specific emission limits. With this regards, various countries provide production facilities including clinker cement plants, coal-fired power plants, and some other facilities by following these standards. In addition, various leading companies started introducing new activated carbon product that supports for various applications such as food and beverage processing, municipal drinking water, industrial pollution control, odour removal, and many more. This is also considered as one of the major growth factors for activated carbon market. For instance, Cabot Corporation launched activated carbon product for hydrogen sulfide removal and odour control applications. However, hikes in the prices of activated carbon are responsible for hindering the growth of the market. Whereas, use of reactivated carbon will provide various growth opportunities of the market in the near future.

COVID-19 Impact Analysis:

The COVID-19 outbreak has affected various industries worldwide. The Activated Carbon Market is no exception. Governments across the world took severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop swift spread of COVID-19. These actions led to severe impact on the global economy impairing various industries. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data-points:

  1. Impact Assessment of COVID-19 Pandemic

    1. North America

    2. Europe

    3. Asia Pacific

    4. Latin America

    5. Middle East & Africa

  2. Quarterly Market Revenue Forecast by Region 2020 & 2021

  3. Key Strategies Undertaken by Companies to Tackle COVID-19

  4. Long Term Dynamics

  5. Short Term Dynamics

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The Report on Activated Carbon Market Highlights:

  • Assessment of the market

  • Company Profiles

  • Premium Insights

  • Competitive Landscape

  • Historic Data, Estimates and Forecast

  • COVID Impact Analysis

  • Global and Regional Dynamics

Asia Pacific Dominates the Global Activated Carbon Market

Asia Pacific held largest market share in 2021. This growth is attributed owing to the easy availability of raw materials along with advance technologies and various innovations in the development of new product in this region. In addition, increasing end-use industries such as petrochemicals, food & beverages and chemical is expected to witness the fast growth of the market in this region. Furthermore, large presence of leading manufacturers in this region is propelling the market growth in the coming years. For Instance, Osaka Gas Co., Ltd., a Japanese gas company, has started a new project for Activated Carbon Fibers (ACF) Air Purification Unit in the Republic of Indonesia.

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List of Prominent Players in the Activated Carbon Market:

  • Cabot Corporation

  • Kuraray Co. Ltd.

  • Haycarb PLC

  • Kureha Corporation

  • Jacobi Carbons AB

  • BASF SE

  • Donau Carbon GmbH

  • Silcarbon Atkivkohle GmbH

  • Prominent Systems Inc.

  • Oxbow Activated Carbon LLC

  • Calgon Carbon Corp.

  • Osaka Gas Chemical Co. Ltd.

  • Evoqua Water Technologies LLC

Recent Developments:

  • December, 2021: Osaka Gas Co., has derived ketones bodies which is made from unique fermentation process and adopted for first time as a raw material for cosmetics.

  • December, 2021: Cabot Corporation announced that, it is joining other leading companies in the global movement to align its sustainability agenda with the Paris Climate Agreement to achieve net zero emissions by 2050. The company's objective is to create innovative materials that improve everyday life and enable a more sustainable future.

  • November, 2021: Cabot Corporation announced that the company entered into an agreement to sell its Purification Solutions business to One Equity Partners in a transaction valued at $111 million, subject to certain debt-like and other closing adjustments.

Key questions answered in the report:

  • Which regional market will show the highest and rapid growth?

  • Which are the top five players of the Activated Carbon Market?

  • How will the Activated Carbon Market change in the upcoming six years?

  • Which application and product will take a lion’s share of the Activated Carbon Market?

  • What are the Activated Carbon market drivers and restrictions?

  • What will be the CAGR and size of the Activated Carbon Market throughout the forecast period?

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This market titled “Activated Carbon Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:

Report Attribute

Details

Market Size in 2021

5,689.7 Million

Projected Market Size in 2028

10947.3 Million

CAGR Growth Rate

CAGR of 9.8% from 2022 - 2028

Base Year

2021

Historic Years

2016 – 2020

Forecast Years

2022 - 2028

Segments Covered

Type: - Powdered, Granulated, Others

Application: - Liquid, Gas, Others

Quantitative Data - Units

Revenue in USD Million/Billion and CAGR from 2022 to 2028

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

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