Activated Carbon Market Set to Surge, Projected to Exceed $10.85 Billion by 2030

According to Next Move Strategy Consulting, the global activated carbon market size is anticipated to surpass $10.85 billion by 2030 reflecting a CAGR of 7.8% during the forecast period till 2030. The activated carbon market's ascent is underpinned by diverse factors driving demand across various industries.

Market Overview:

The activated carbon market is poised for substantial expansion, responding to increasing demands for effective solutions in environmental remediation, water purification, and air filtration. As industries globally strive for sustainable practices, activated carbon emerges as a pivotal player in mitigating environmental challenges and ensuring a cleaner, healthier future.

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Key Market Drivers:

1. Environmental Regulations and Sustainability Goals: Stringent environmental regulations and heightened corporate sustainability goals propel the adoption of activated carbon in industries seeking efficient solutions for pollution control and resource conservation.

2. Water and Air Purification Demands: The growing concerns over water and air quality drive the demand for activated carbon in municipal water treatment, industrial processes, and air purification systems. Activated carbon's exceptional adsorption capabilities make it an indispensable tool in addressing these critical issues.

3. Rising Industrialization in Developing Regions: The accelerated industrialization in emerging economies contributes significantly to the demand for activated carbon. Industries such as pharmaceuticals, chemicals, and food and beverages rely on activated carbon for purification processes.

4. Enduring Applications in Gas Phase and Liquid Phase Treatment: The versatility of activated carbon extends to gas phase and liquid phase treatment applications, including gas purification, solvent recovery, and removal of impurities in liquids, fostering its widespread adoption.

Market Segmentation:

The activated carbon market includes various segments, including:

Type: Based on type, the market is segmented into powdered activated carbon, pelletized or extruded activated carbon, granular activated carbon, bead activated carbon, polymer-coated activated carbon, impregnated carbon, and woven carbon.

Raw Materials: Based on raw materials, the market is classified into coal-based, coconut shell-based, wood-based, and others.

Application: Based on propulsion type, the market is divided into water purification, air and gas purification, pharmaceuticals, metal extraction, catalyst, vehicle emission control, edible oils purification, and others.

Geographical Regions: Based on region, the market is analyzed into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).

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Outlook and Future Prospects:

Driven by its rising appeal in smart electronics and electricals, activated carbon is paving the way for a booming industry. This surge is expected to unlock exciting possibilities, particularly in crafting high-performance supercapacitors and exploring hydrogen storage solutions.

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The market for activated carbon faces a rising price due to scarce raw materials such as coconut shells and coal limiting growth. Adding to the pressure, these carbons can't tackle all chemicals, leaving nitrates, fluoride, and heavy metals untouched. This double whammy of cost and ineffectiveness hinders the market's full potential.

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Regional Dominance:

Asia-Pacific dominates the global market of Activated Carbon and it is convincingly expected to remain dominant in the Activated Carbon Market throughout the forecast period. China, Japan, and India are major consuming countries that are expected to lead the market in this region for the next several years. Also, the upsurge in the population of Asia -the Pacific region has led to the rise in demand for pure and safe potable water. This, coupled with the availability of raw materials and other resources will drive the growth of the market in this region.

On the other hand, Europe is anticipated to witness moderate growth due to the saturation of end-use industries and weak economic prospects. However, strict government regulations and growing environmental concerns are expected to drive the market in this region. As a result, applications such as air purification and water treatment are expected to show rapid growth.

Competitive Landscape:

The activated carbon market comprises various players such as Cabot Corporation, Osaka Gas Chemicals and Co. Ltd., Haycarb Pvt Ltd., Ingevity Corporation, Donao Carbon GmbH, Universal Carbons, Calgon Carbon Corporation, Activated Carbon Technologies, Adsorbent Carbons, Jacobi Carbons AB, Kureha Corporation, Kuraray Ltd. and Oxbow Activated Carbons. These key market players are adopting several strategies such as joint ventures, expansion, mergers and acquisitions, and partnerships to sustain their dominance in the global activated carbon market.

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This release was published on openPR.