Activated Carbon Market Analysis, Growth and Share 2023
Market Research Future (MRFR) will be publishing a cooked research report on “Global Activated Carbon Market” that contains the information from 2016 to 2023. The global activated carbon market is expected to register a CAGR of 8.14% during the forecast period 2016–2023.
MRFR recognizes the following companies as the key players in the global activated carbon market—Cabot Corporation (US), Osaka Gas Chemicals Co., Ltd (Japan), Kuraray Co., Ltd (Japan), Haycarb (Pvt) Ltd (Sri Lanka), Kureha Corporation (Japan), Donau Carbon GmbH (Germany), DESOTEC Activated Carbon (Belgium), Oxbow Activated Carbon (US), Silcarbon Aktivkohle GmbH (Germany), Prominent Systems, Inc. (US), and Lenntech BV (the Netherlands), among others.
Market Highlights
The activated carbon market is projected to be valued at USD 7,032.5 million by the end of 2023 and expected to exhibit a CAGR of 8.14% during the forecast period. The use of activated carbon is increasing as an adsorbent in the water purification process due to its easy maintenance, natural filter media, and low cost. It helps in removing organic compounds and extracting chlorine from water and makes it suitable for use in the manufacturing processes.
The air purification application segment is expected to be the second major consumer of activated carbon, due to the growing adoption of granular and powdered activated carbon to adsorb VOCs from the air, natural gas purification, and removal of mercury, H2S, and BTX. Moreover, the use of activated carbon is also growing in the pharmaceuticals industry. It is used to remove impurities from pharmaceuticals due to its excellent adsorption capacity, excellent batch-to-batch consistency, and high purity level. The pharmaceutical industry is growing on account of the rising prevalence of diseases, which is expected to boost the growth of the global market during the forecast period.
However, raw material price fluctuations and supply–demand gap are factors expected to hamper the growth of the global market during the forecast period. Nevertheless, in the coming years, the use of activated carbon is estimated to grow in smart electronics and electric vehicles, which is expected to create lucrative opportunities for the market players.
Access Full Report Details and Order this Premium Report @ https://www.marketresearchfuture.com/reports/activated-carbon-market-1744
Segment analysis
The global activated carbon market has been segmented on the basis of type, application, and region. Based on type, the global market has been classified into powdered activated carbon, granulated activated carbon, extruded activated carbon, and others. Among these, the powdered activated carbon segment held the largest market share in 2017 and is projected to register the highest CAGR of 8.45% during the forecast period. This is mainly attributed to the widespread use of the product for mercury removal from power plant emissions, removal of organic contaminants from wastewater, de-chlorination of water, drinking water treatment, and taste and odor removal from water used in the food & beverage industry.
By application, the global activated carbon market has been segmented into water purification, air purification, food & beverage, industrial chemicals, metal extraction, pharmaceuticals, automotive, catalyst, and others. The water purification segment dominated the global market in 2017 with a market value of USD 1,575 million in 2017. This large-scale consumption of activated carbon in this application segment is due to the increasing awareness among the consumers regarding the treatment of drinking water as well as the re-use of the industrial wastewaters by purification.
Regional Analysis
The global activated carbon market is studied with respect to five key regions, namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. As per MRFR analysis, Asia-Pacific dominated the global market, accounting for the largest share in 2017 and is projected to register a CAGR of 9.93% during the forecast period. The market in North America was the second-largest after Asia-Pacific and is projected to be valued at USD 1,343.0 by the end of 2023. Europe also held a substantial market share of 15.53% in 2017.
About Market Research Future
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Contact
Market Research Future
Pune - 411028
Maharashtra, India
+1 646 845 9312