Where is the wood activated carbon market in the next few years

Wood activated carbon market has been segregated based on product, application, end-user and region. The product segment comprises powdered and granular wood activated carbon. Among these, powdered form will hold over two-thirds of the entire wood activated carbon industry in 2024. coal based activated carbon Powdered form of the product is cheaper than granular one and find its usage for water and air purification as it has superior adsorption, high filtration and purification strength.

Wood activated carbon market applications are segmented based on product usage which include fluid adsorption, decolorization, purification, and others. Other applications comprise deodorizing, solvent recycling, etc. Among these, fluid adsorption and purification will have a combined share of over 55% in this segment in 2024.

The major end-user segments include air treatment, water treatment, food & beverage, and pharmaceutical. Minor industries include automotive, chemical, gold mining, etc. and have been considered in the others segment. In terms of revenue, water treatment is likely to generate more than USD 200 million in 2024. This is due to the excessive usage of the product in water treatment plants owing to the superior intrinsic properties.

Latin America and Asia Pacific’s wood activated carbon market will be a largest with over 45% of the entire industry in coming years. Latin America will account for over USD 30 million growing with a noteworthy CAGR over the forecast period. www.coconutactivatedcarbon.com High production and abundant availability of raw materials in these regions will promote the regional industry growth by 2024, which will positively influence the overall wood activated carbon market growth.