Activated Carbon Market

Activated Carbon Market: By Type, Application, and Region

Market Synopsis:

Global Activated Carbon market is valued at USD 6235.14 Million in 2022 and is projected to reach a value of USD 12981.68 Million by 2030 at a CAGR of 9.60% over the forecast period.

The growing demand from sewage treatment and water treatment applications along with the growing need for pollution control are the key factors for the Activated Carbon market growth. The stringent regulations regarding water pollution and increased technological advancements are other key factors for the market growth. In addition, the increased use of Activated Carbon in manufacturing and greenhouses industries for air purification and to remove odors, toxic gases, and harmful dust particles are some other key growth factors over the forecast period.

The growing demand for Activated Carbon across industry verticals such as pharmaceutical & medical, food and beverage processing, and automotive are some major key opportunities in the global Activated Carbon market. Moreover, the increased demand for Activated Carbon across emerging nations such as India, China, Brazil, Indonesia, and others to reduce air and water pollution are presumed to contribute to the growth of the Activated Carbon market in the years to come. However, the scarcity of raw materials causing price hikes of activated carbon is one of the major restraints in the global Activated Carbon market.

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Market Segmentation:

The global Activated Carbon market is segmented on the basis of Type(Powdered,Granulated,Others),Application(Liquid,Gas,Others),Region(North America,Europe,Asia Pacific,Latin America,Middle East & Africa). Based on type, the market is segmented as powdered, granulated, and others. On the basis of application, the market is segmented into liquid (water treatment, food & beverages, pharmaceutical & medical, and others), gas (automotive and industrial), and others.

Powdered had a major share in Activated Carbon Market

In 2021, the powdered category dominated the global Activated Carbon market and had more than 60% of the market volume share in the same year. This is primarily due to the wide application of powdered activated carbon across industries such as automotive, food and beverage processing, and pharmaceutical and medical, due to its high absorption capacity. The rising demand along with the stringent environmental regulations are estimated to boost the category growth over the upcoming years.

Besides, the granular category is projected to witness lucrative growth over the forecast period. The high use of granular in air treatment and municipal water treatment plants, mainly in mercury and chlorine removal processes are the key reasons for category growth. Moreover, the increased application of granular category across applications is further estimated to enhance the category growth in the global Activated Carbon market.

Gas was the leader in the Activated Carbon in 2021

The gas category dominated the Activated Carbon market in 2021. The category accounted for more than 55% of the market revenue share in the same year. The category growth can be attributed to the growing consumption of activated carbon gas into different products such as air conditioners, sewage, gas mask, human waste treatment, desulphurization, along with purification of factory effluent gases. Moreover, the increased demand for the product in air purification applications from commercial as well as domestic users are projected to enhance the category growth.

Besides, the liquid category is anticipated to emerge as the fastest-growing application category over the forecast period. This is majorly owing to the increased use of liquid in the different industrial categories such as potable water treatment, decolorization, groundwater treatment, industrial water treatment, chemical and pharmaceutical wastewater treatment, and precious metal (gold) recovery.

Asia Pacific Activated Carbon Market to Grow at the Fastest CAGR

Asia Pacific had a major share in the global Activated Carbon market in 2021. The region had more than 40% of the market revenue and volume share in 2021. The economies such as India, China, and Japan are projected to lead the region over the forecast period. Asia Pacific had a major share due to the high production of activated charcoal in the region due to coconut shells being one of the proven and widely used raw materials for activated charcoal manufacturing. Numerous Asian countries such as the Philippines, Malaysia, Indonesia, India, and Sri Lanka have ideal weather which is suitable for steady coconut cultivation, due to which Asia Pacific is the primary region for the raw material of Activated Carbon.

North America and Europe are projected to witness substantial growth over the forecast period. This is due to the increasing environmental concerns, and standards along with government initiatives to safeguard the environment. The stringent government regulations such as disposal of industrial wastewater and gas emissions in these regions are further estimated to enhance the regional growth. Moreover, the increased demand for Activated Carbon from the automotive manufacturers in Europe to minimize the emissions from the vehicle is presumed to enhance the regional growth over the forecast period.