Growing Application in Multiple End-use Industries to Drive Activated Carbon Market at CAGR of 8.3% during Forecast Period: TMR Study
- Increasing utilization of adsorption capacity of activated carbon forms in various applications in several end-use industries to drive revenue generation
- Advancements in adsorptive properties help players capture incremental opportunities in pharmaceutical & personal care industries
16 Sep, 2021, 08:30 ET
ALBANY, N.Y., Sept. 16, 2021 /PRNewswire/ -- Transparency Market Research: Products in the activated carbon market have gained popularity in various industries for their versatile adsorptive properties, as they are used for the removal of a wide range of organic and inorganic compounds. The demand for activated carbon has risen in water and wastewater treatment for domestic and industrial purposes and its effectiveness for removal of contaminants has risen in pharmaceutical and personal care applications. The biodegradability of the adsorbates and focus on increasing the cost-effectiveness of the products will allow market players capture revenues from new applications.
The rise in use of activated carbon in wastewater treatment processes has conferred steady revenue gains to market players. The activated carbon market is projected to advance at CAGR of 8.3% during the forecast period. In recent months, the production of activated carbon filter masks surged during COVID-19 pandemic, thereby offering incremental opportunities. Furthermore, sales in activated carbon market have been rising to meet the requirements of personal care products among consumers.
Researchers have focused on improving surface modification for boosting the adsorptive and catalytic properties of the activated carbon. In addition, manufacturers adopting inexpensive raw materials have led to cost reduction of the final products over the years, which has fueled the uptake of activated carbon market products in various industries such as food & beverages, automotive, and mining, notes the study on activated carbon market.
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Key Findings of Activated Carbon Market Study
- Use in Drinking Water Purification, Wastewater Treatment Fuels Market Growth: The adsorptive capacity of activated carbon is being increasingly utilized in industries in water and air purification applications. The demand has notably grown in advanced wastewater treatment processes to remove a range of synthetic chemicals and organic pollutants. In drinking water especially, activated carbon has demonstrated efficacy in taste and odor compounds, and has risen in demand among municipalities in various countries. The focus on purity of drinking water has spurred the use of biological activated carbon (BAC) filters, propelling sales in the activated carbon market.
- Personal Care Industry to Offer Massive Avenue: A bevy of skincare product manufacturers have used activate carbon for deep cleansing and detoxification. Personal care and beauty products with activated carbon as one of the key ingredients have proliferated for skin care and hair care benefits. Technological advancements in activated carbon chemistries have enabled chemical companies to unveil thermally stable product forms, driving its demand in the activated carbon market. Moreover, the demand has risen in the pharmaceutical sector, where it is becoming popular for purification of active pharmaceutical ingredients (APIs). Activated carbon has been widely used in detoxifying pharmaceutical agents in medicines.
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Activated Carbon Market: Drivers
- Stringent implementation of regulations pertaining to industrial effluents and air purification has driven the demand for versatile products that can remove a wide range of residues, contaminants, and pollutants
- Extensive R&D especially in some developed economies for the use of adsorbents for the removal of organic compounds for safe drinking water has boosted the prospects of activate carbon market players. In addition, regulations that govern the use of efficacy of granular activated carbon (GAC) in drinking water purification has widened market avenues. A case in point is drinking water purification proposals put forth by the U.S. Environmental Protection Agency (EPA).
Activated Carbon Market: Key Industry Players
Some of the key players in the activated carbon market are Sika AG, Bostik SA, Avery Dennison Corporation, Dow Inc., H. B. Fuller, 3M, and Henkel AG and Company KGaA
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Global Activated Carbon Market: Segmentation
Activated Carbon Market, by Raw Material
- Coal Based
- Coconut Shell Based
- Wood Based
- Others (including Petroleum Pitch)
Activated Carbon Market, by Form
- Others (including Spherical)
Activated Carbon Market, by Application
- Water & Wastewater Treatment
- Air Purification
- Food & Beverages
- Industrial Chemicals
- Others (including Personal Care)
Activated Carbon Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
- Asia Pacific
- South Korea
- Rest of Asia Pacific
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