Activated Carbon Market size worth $ 4429.0 Million, Globally, by 2030 at 6.21% CAGR: Verified Market Research®
The "Global Activated Carbon Market Size By Type, By Industry, By Application Method, By Geographic Scope And Forecast" report has been published by Verified Market Research®. The report provides an in-depth analysis of the global Activated Carbon Market, including its growth prospects, market trends, and market challenges.
JERSEY CITY, N.J., July 20, 2023 /PRNewswire/ -- The Global Activated Carbon Market is projected to grow at a CAGR of 6.21% from 2023 to 2030, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 2905.7 Million in 2022 and is expected to reach USD 4429.0 Million by the end of the forecast period.
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Browse in-depth TOC on "Activated Carbon Market"
202 - Pages
126 – Tables
37 – Figures
Global Activated Carbon Market: Market Drivers, Outlook, and Key Players
The global Activated Carbon Market is experiencing significant growth, driven by the exceptional pollutant absorption capabilities of this porous organic compound, primarily derived from charcoal. When sourced from coal, it is known as activated coal. The versatile substance finds extensive application in various sectors, including municipal drinking water treatment, food and beverage processing, odor removal, and industrial pollution control.
Market Drivers:
The key driver behind the growth of the global Activated Carbon Market is the increasing demand for water treatment applications. Activated charcoal is extensively utilized in wastewater treatment, and its use in the personal care and pharmaceutical sectors is steadily growing. Activated carbon plays a crucial role in eliminating toxins, bacteria, chemicals, and impurities from the skin's surface, prompting numerous organizations in the personal care sector to incorporate activated charcoal into their products. This trend is expected to fuel the growth of the Activated Carbon Market during the estimated period.
Moreover, the market is bolstered by technological advancements, heightened health awareness, and improved accessibility to medical services. Additionally, stringent environmental regulations focusing on the elimination of mercury from power plant emissions, natural gas production units, and other anthropogenic sources are expected to further drive the demand for activated carbon in the coming years.
Market Challenges:
The global Activated Carbon Market faces challenges related to raw material scarcity, particularly in the Asia-Pacific region. Companies are concerned about raw material quality, as it directly impacts the performance of the end product, leading to a significant supply-demand gap and increased raw material costs.
Furthermore, the use of activated carbon in food products poses potential issues, including reduced vitamin absorption, hindered drug absorption, and gastrointestinal side effects. These concerns may impede the market's growth during the forecast period.
Market Opportunities:
Despite challenges, the Activated Carbon Market presents several opportunities for growth. Increasing pollution levels, rising per capita income, and continuous product developments and launches are expected to create potential opportunities for market expansion in the upcoming years.
Regional Analysis:
During the projected period, the Asia-Pacific region is expected to exhibit the fastest Compound Annual Growth Rate (CAGR). The robust growth experienced in the chemicals, food and beverage, and energy industries in countries such as China, India, and Indonesia is a key driver propelling the demand for activated carbon in this region.
Key Players:
Leading players in the global Activated Carbon Market include Osaka Gas Co., Ltd., Cabot Corporation, Kuraray Co., Calgon Carbon, Haycarb, Kureha Corporation, Donau Carbon GMBH, Silcarbon Aktivkohle GMBH, Prominent systems Inc., and Oxbow activated carbon LLC.
These key players are expected to strengthen their competitive landscape through key development strategies, enhancing their market share and market ranking.
In conclusion, the global Activated Carbon Market is witnessing substantial growth, driven by the increasing demand for water treatment applications and the rising use of activated charcoal in the personal care and pharmaceutical sectors. Technological advancements, environmental regulations, and rising per capita income further contribute to market expansion. However, challenges related to raw material scarcity and potential concerns in food product applications need to be addressed to sustain and enhance market growth.
For more information, financial statements, product benchmarking, and SWOT analysis, on the Global Activated Carbon Market, please purchase Activated Carbon Market report at Verified Market Research.
Based on the research, Verified Market Research® has segmented the global Activated Carbon Market into Type, Industry, Application Method, And Geography.
- Activated Carbon Market, by Type
- Powdered Activated Carbon
- Granular Activated Carbon
- Activated Carbon Market, by Industry
- Water treatment
- Food & beverage
- Pharmaceutical and medical
- Automotive
- Air purification
- Others
- Activated Carbon Market, by Application Method
- Batch Application
- Column Application
- Activated Carbon Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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