The activated carbon filters market size is estimated to be USD 267 million in 2020 and is projected to reach USD 330 million by 2025, at a CAGR of 4.4%
NEW YORK, Sept. 8, 2020 /PRNewswire/ -- The growth in the activated caron filters demand is increasing due to stringent governmental regulations on water purification and regulations implemented by environmental agencies on industrial discharge.
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The activated carbon filters market size is estimated to be USD 267 million in 2020 and is projected to reach USD 330 million by 2025, at a CAGR of 4.4%. The growth in activated cabon filters market is attributed to the stringent regulation on industrial discharge to control water pollution and regulations drinking water quality standards to control water borne dieases. The market growth is also attributed to the rapid urbanization and growth in industrial, food & beverage, pharmaceutical applications. One of the emerging applications of activated carbon filters is gas separation. Activated carbon filters are used to separate components of gas through pressure swing adsorption phenomena (PSA). However, COVID-19 has affected the activated carbon filter manufacturers due to a decline in demand and loss of growth potential in the market. One of the drawbacks of the use of activated carbon filters is the creation of a damp environment on the activated carbon bed, which promotes bacterial proliferation. This factor has limited the use of activated carbon filters, especially in pharmaceutical and food & beverage applications.
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Stainless steel shell is the fastest-growing segment of activated carbon filters market.
Stainless steel shell was the largest segment of the activated carbon filters market globally in 2019 in terms of value.Stainless steel shell is anticipated to account for the biggest share of the overall activated carbon filters market during the forecast period.
The growth of stainless steel shell activated carbon filters is attributed to its durability and less-corrosive properties. Carbon steel shell activated carbon filters are less durable because of its corrosive nature.
Industrial water pollution treatment is the largest application of activated carbon filters market.
The industrial water pollution treatment application is expected to be the largest, and drinking water purification application is expected to be the fastest-growing segment in the overall market.The global activated carbon filters market is mainly driven by the implementation of stringent regulations by regional governments and environmental agencies to control water pollution.
Also, activated carbon filters are used to treat industrial discharge to re-use it in the manufacturing rocess again. Re-use of industrial discharge water and water pollution control are the two major making industrial water pollution treatment the largest application in the market.
APAC is the largest as well as the fastest-growing market for activated carbon filters market.
APAC is estimated to be the largest market for activated carbon filters in 2019.The market for this region is segmented into China, India, Japan, Malaysia, Indonesia, and the Rest of APAC.
According to the World Bank, APAC is the fastest-growing region in terms of both population and economy.The region has witnessed significant growth in the past decade, accounting for over one-third of the world's GDP.
High economic growth, coupled with the increasing population, is expected to drive the region's industrial sector. This is expected to increase the demand for activated carbon filters in water pollution treatment and water purification applications.
Extensive primary interviews were conducted in the process of determining and verifying sizes of different types, end-user of the activated carbon filters market gathered through secondary research.
The breakdown of primary interviews is given below:
• By Company Type: Tier 1 – 45%, Tier 2 – 22%, and Tier 3 – 33%
• By Designation: C-Level Executives – 50%, Director-Level – 10%, and Others – 40%
• By Region: North America – 28%, Europe – 18%, APAC – 27%, South America – 18%, and the Middle East & Africa – 9%
The key companies profiled in this report on the activated caron filters market include TIGG LLC (US), Puragen Activated Carbons (US), Cabot Corporation (US), Westech Engineering (US), Kuraray Co. Ltd. (Japan), Lenntech B.V. (The Netherlands), Donau Carbon Corporation (Germany), General Carbon Corporation (US), Sereco S.R.L. (Italy), Carbtrol Corp (US).
Research Coverage
The activated carbon filters market has been segmented based on type, application, and region.This report covers the activated carbon filters market and forecasts its market size until 2025.
It also provides detailed information on company profiles and competitive strategies adopted by the key players to strengthen their position in the activated carbon filters market.The report also provides insights into the drivers and restraints in the activated carbon filters market along with opportunities and challenges.
The report also includes profiles of top manufacturers in the activated carbon filters market.
Reasons to Buy the Report
The report is expected to help market leaders/new entrants in the following ways:
1. This report segments the activated carbon filters market and provides the closest approximations of revenue numbers for the overall market and its segments across different verticals and regions.
2. This report is expected to help stakeholders understand the pulse of the activated carbon filters market and provide information on key market drivers, restraints, challenges, and opportunities influencing the market growth.
3. This report is expected to help stakeholders obtain an in-depth understanding of the competitive landscape of the activated carbon filters market and gain insights to improve the position of their businesses. The competitive landscape section includes detailed information on strategies, such as new product developments, expansions, and collaborations.
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