WASHINGTON, Jan. 21, 2022 (GLOBE NEWSWIRE) – The global activated carbon market size is expected to reach 10947.3 million by 2028, showing a compound annual growth rate (CAGR) of 9.8% over the forecast period. Activated carbon is largely used in water treatment and air purification due to the various regulations that the government applies to remove mercury from power plants. This is one of the main factors driving the growth of the active carbon market in the coming years, says Vantage Market Research, in a report titled “Activated Carbon Market by Type (Powder, Granular, Other), by Application (Liquid, Gas, Other), by Region (North America, Europe, Asia Pacific, Latin America) – Global Industry Assessment (2016-2021) and Forecast (2022) – 2028). The market size reached 5,689.7 million in 2021.
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The use of mercury control technology in industrial air purification increases market demand
The growing need for mercury control technology for industrial air purification is accelerating the demand for activated carbon market growth. In addition, due to various stringent regulations imposed by the government to meet the specified emission limits, it increases the demand for the activated carbon market. For example, the US Environmental Protection Agency (EPA) has set standards for Maximum Attainable Control Technology (MACT) to meet established emissions limits. In this regard, many countries provide production facilities including cement clinker plants, coal fired power plants, and some other facilities by following these standards. In addition, several leading companies have begun to introduce a new activated carbon product that supports various applications such as food and beverage processing, municipal drinking water, industrial pollution control, deodorization, and many more. This is also considered as one of the key growth factors for the activated carbon market. For example, Cabot Corporation has launched an activated carbon product for hydrogen sulfide removal and odor control applications. However, increases in activated carbon prices are responsible for hampering market growth. As the use of reactivated carbon will provide various growth opportunities for the market in the near future.
Analysis of the impact of COVID-19:
The COVID-19 outbreak has affected many industries around the world. the Activated carbon market is no exception. Governments around the world have taken drastic measures such as closing borders, lockdowns, and implementing strict social distancing measures, in order to stem the rapid spread of COVID-19. These measures have had a severe impact on the global economy affecting various industries. The impact of COVID-19 on market demand is considered while estimating the current and projected market size and market growth trends for all regions and countries based on the following data points:
- Assessing the impact of the COVID-19 pandemic
- North America
- Asia Pacific
- Latin america
- Middle East and Africa
- Quarterly Market Revenue Forecasts by Region 2020 and 2021
- Key strategies companies have taken to tackle COVID-19
- long term dynamics
- short term dynamics
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Report on Activated Carbon Market Highlights:
- Market assessment
- Company Profile
- Distinctive insights
- Competitive scene
- Historical data, estimates and forecasts
- Analysis of the impact of COVID
- global and regional dynamics
The global active carbon market is dominated by the Asia Pacific region
The Asia Pacific region occupied the largest market share in 2021. This growth is attributed to the easy availability of raw materials along with advanced technologies and various innovations in developing a new product in this region. In addition, growing end-use industries such as petrochemicals, food and beverages, and chemicals are expected to experience rapid market growth in this region. Moreover, the large presence of the leading manufacturers in this region drives the growth of the market in the coming years. For Instance, Osaka Gas Co., Ltd. started. , a Japanese gas company, has launched a new activated carbon fiber (ACF) air purification unit project in the Republic of Indonesia.
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List of Prominent Players in Activated Carbon Market:
- Cabot Company
- Koraray Co., Ltd.
- Haycarb PLC
- koreha company
- Jacoby Carbons AB
- BASF SE
- Donau Carbon GmbH
- Silcarbon Atkivkohle GmbH
- Prominent Systems Company
- Oxbow Activated Carbon LLC
- Calgon Carbon Corp.
- Osaka Gas Chemical Co., Ltd.
- Evoqua Water Technologies LLC
- December 2021: Osaka Gas produced ketone bodies made from a unique fermentation process and was first approved as a cosmetic raw material.
- December 2021: Cabot Corporation has announced that it is joining other leading companies in the global movement to align its sustainability agenda with the Paris Climate Agreement to achieve net zero emissions by 2050. The company’s goal is to create innovative materials that improve everyday life and enable a more sustainable future.
- November 2021: Cabot Corporation has announced that the company has entered into an agreement to sell its Purification Solutions business to One Equity Partners in a $111 million deal, subject to certain debt-like and other adjustments.
Key questions answered in the report:
- Which regional market will show the highest rapid growth rate?
- Who are the top five players in the active carbon market?
- How will the active carbon market change in the next six years?
- What application and product will take the lion’s share of the activated carbon market?
- What are the drivers and restraints of the activated carbon market?
- What will the CAGR and Active Carbon market size be during the forecast period?
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This market is entitledActivated carbon market“Exclusive information in terms of regional analysis, forecasting, quantitative data – units, major market trends and various other information as mentioned below:
|Market size in 2021||5,689.7 million|
|Expected market size in 2028||10947.3 million|
|CAGR growth rate||Compound annual growth rate of 9.8% from 2022 to 2028|
|Historic years||2016 – 2020|
|prediction years||2022 – 2028|
|covered slices||Type: – powder, granules, other
Application: – liquid, gas, other
|Quantitative data – units||Revenues in US$ Million/Billion and CAGR from 2022 to 2028|
|Covered areas||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Countries covered||United States, Canada, Mexico, United Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC countries and South Africa, among others|
|Report coverage||Market growth drivers, constraints, opportunities, Porter’s Five Forces analysis, PEST analysis, value chain analysis, organizational landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.|
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