Wilmington, Delaware, Nov. 07, 2023 (GLOBE NEWSWIRE) -- Allied Market Research recently published a report, "Activated Carbon Market by Product Type (Powdered Activated Carbon, Granular Activated Carbon, Others), by Application (Liquid Phase, Gaseous Phase), by End-use Industry (Water Treatment, Food & Beverage, Pharmaceutical & Medical, Automotive, Air purification, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030". According to the report, the global activated carbon market is predicted to gather $5.8 billion by 2030. The market was valued at $3.2 billion in 2020 and is expected to surge at a CAGR of 6.3% during the 2021-2030 period.
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Growth Drivers, Market Restraints, and Investment Opportunities
Increasing awareness regarding the health hazards of drinking impure water is anticipated to be the primary growth driver of the global activated carbon market. Along with this, a rise in automobile prices and upgradation in environmental and manufacturing standards all across the globe will also help in the market’s growth. However, increasing prices of raw materials might restrict the market. Nonetheless, escalating demand for mercury control technology for use in industrial air purification is expected to create tremendous growth opportunities in the market.
The liquid phase segment to be the dominant market share
Based on application, the liquid phase segment accounted for the highest market share in 2020 with around three-fifths of the total share. Increasing demand for wastewater treatment, groundwater remediation, and portable water treatment is projected to expand the scope of the segment. However, the gaseous phase segment is estimated to have the fastest CAGR of 6.8% during the 2020-2030 period. Gaseous phase allows the process to easily adapt to rapid changes in quality and quantity of the leachate. This ability of gaseous phase is expected to help in the segment’s rise.
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The water treatment segment to grow rapidly
Based on end-user industry, the water treatment accounted for the largest market share in 2020 with around two-fifths of the total market share. Issues related to water scarcity caused by industrialization across the globe are anticipated to help in the expansion of the segment. However, the automotive segment is projected to have the fastest CAGR of 7.7% during the forecast period. The ability of carbon lattice structure to allow greater adsorption for emission regulations might aid the segment to achieve this high growth rate.
Asia-Pacific to flourish immensely
Based on region, the Asia-Pacific activated carbon market gathered the highest market revenue in 2020 with around two-fifths of the total market share. Also, the market across Asia-Pacific is expected to be the fastest growing with a CAGR of 7.5% during the analysis timeframe. Extensive demand for activated carbon from the automotive sector in developing economies of this region might help the market to propel ahead.
Major Companies of the Industry:
- CLARINEX Group
- Jacobi Carbons AB
- Calgon Carbon Corporation
- Carbon Activated Corp.
- Siemens Water Technologies Corp.
- Carbo Tech AC GmbH
- Cabot Corporation
- Kureha Corporation
- Carbon Resources LLC
- ADA-ES, INC.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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