Westford, USA, Oct. 07, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the global activated carbon market will reach a value of $13.87 Billion by 2031, with a CAGR of 9.3% during the forecast period (2024-2031). The activated carbon market has been witnessing remarkable growth owing to its escalating applications in air purification, water treatment, and several industrial processes. The leading drivers of the global market comprise rising concerns regarding water quality, growing environmental regulations, and the progress of the food and healthcare industries. Overall, the market is poised for continued growth supported by growing awareness of health standards and environmental issues.
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Activated Carbon Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 6.23 Billion |
| Estimated Value by 2031 | USD 13.87 Billion |
| Growth Rate | Poised to grow at a CAGR of 9.3% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, End Use, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa |
| Report Highlights | Growing number of patent filings by major market players |
| Key Market Opportunities | Growing Emphasis of Activated Carbon Producers on Reactivated Carbon |
| Key Market Drivers | Growing Industrialization in Emerging Nations with Heavy Investments in Infrastructure |
Browse in-depth TOC on the "Activated Carbon Market" Pages – 197, Tables – 95, Figures – 76
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Powdered Segment to Hold Notable Market Share Owing to its Versatility and Effectiveness
By type, the powdered segment led the activated carbon market with maximum share and will continue dominance over the forecast period owing to its effectiveness and versatility. PAC or powdered activated carbon is commonly used in air purification, water treatment, and food industry due to its quick absorption qualities and high surface area. Also, it can be easily used, mainly to remove pollutants, thus increasing its preference in broader applications. Moreover, the growing demand for strict ecological regulations and clean water is considerably impacting the adoption of powdered activated carbons.
However, the granular segment is the fastest-growing segment observed in the activated carbon market owing to its efficiency in continuous flow applications, mainly in air purification and water treatment. Precisely, GAC is largely preferred due to its larger particle size, durability, and low pressure drop, which increases its application in fixed-bed systems. Also, it can be easily reused and regenerated, which improves its cost-effectiveness, hence, the segment’s growth.
Mounting Demand for Safe and Clean Drinking Water to Fuel Water and Wastewater Treatment Segment
By end use, the water and wastewater treatment segment are projected to lead the market owing to the rising demand for safe and clean drinking water, supported by the ever-increasing population and rising urbanization. Activated carbon is prominent for its effectiveness at removing contaminants and odors, increasing its significance in industrial and municipal water treatment processes. Furthermore, the capability of activated carbons in eliminating the progressing pollutants in personal care and pharmaceutical products increases its role in water treatment.
Nonetheless, the automotive segment is observed to be the fastest-growing owing to its increased focus on improvement of air quality and emission control. Activated carbon holds key applications in air filters in vehicle cabins and fuel vapor recovery systems to eliminate unsafe pollutants and gases. This improves environmental compliance and passenger comfort. Moreover, inclination towards electric vehicles which demands reliable air filtration solutions impacts the segment’s growth.
Remarkable Industrial Growth and Urbanization to Drive the Market in Asia-Pacific
Asia-Pacific held a larger share of the market owing to heavy industrial growth and growing urbanization. Speedy industrialization in key developing nations like India and China is fueling the need for activated carbon in diverse manufacturing processes, water treatment, and air purification. Ever-growing urban population increases the demand for clean air and water, triggering investments in ecological technologies that use activated carbon.
North America is the fastest-growing region and is projected to lead the market over the forecast period owing to the strong regulatory environment and availability of advanced technology. Strict environmental standards and regulations for water and air quality considerably fuel the need for activated carbon in different applications. Moreover, North America is the center for several innovations and advanced technologies which improve its efficiency and effectiveness.
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Activated Carbon Market Insight
Drivers:
- Strict Environmental Regulations About Water and Air Quality
- Growing Demand for Clean Water
- Mounting Applications in Healthcare Industry
Restraints:
- Significant Production Costs of Activated Carbon
- Wide Availability of Substitutes
- Low Awareness in Developing Nations
Prominent Players in Activated Carbon Market
- Osaka Gas Chemicals Co., Ltd.
- Silcarbon Aktivkohle GmbH
- Calgon Carbon Corporation
- Cabot Corporation
- Kuraray Co., Ltd.
- Donau Carbon GmbH
- Kureha Corporation
- ADA-ES, Inc.
- Carbon Activated Corporation
- Haycarb PLC
Key Questions Answered in Global Activated Carbon Market Report
- What is the growth rate and size of the Activated Carbon Market, according to SkyQuest Technology?
- What are the main trends and advancements reshaping the Activated Carbon Market?
- What are the key opportunities observed in the Activated Carbon Market?
This report provides the following insights:
Analysis of key drivers (growing technological advancements, rising sustainability trends, growing concerns for air quality), restraints (disturbances in raw materials supply, intensifying market competition, growing environmental concerns), opportunities (growth in developing economies, growth of healthcare sector, introduction of eco-friendly products), and challenges (disposal and regeneration issues, economic instability, strict regulations for production) influencing the growth of activated carbon market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the activated carbon market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the activated carbon market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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