Activated Carbon Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Activated carbon is also called as activated charcoal. It is characterized by the presence of large number of small pores on its surface. More number of pores corresponds to larger surface area that helps in increasing the adsorption capacity of the element. The global activated carbon market is expected to witness considerable growth in coming years of the forecast period due to the growing demand from its end use application industries.
The global activated carbon market features a fragmented landscape with the presence of several notable brands. These leading companies are investing heavily on the activities of research and development for developing better and innovative products. In addition to this, mergers and acquisitions are also a highly preferred approach for the growth of these companies. Some of the leading brands in the global activated carbon market include names such as Evoqua Water Technologies LLC, Osaka Gas Chemical Co. Ltd., Calgon Carbon Corp., Jacobi Carbons AB, and Cabot Corporation among others.
There are multiple factors that are responsible for the overall development of the global activated carbon market. Activated carbon is mainly used in sewage and water treatment plants. This is because the activated carbon has the ability to eliminate dissolved and particulate impurities. Moreover, activated carbon also removes some organic impurities as well as chlorine from water. Such benefits have made it a preferred choice of filtering material for these sewage and water treatment plants. Thus, its demand is high in this application sector. Naturally, the growth of the market is primarily driven because of this growing demand from the sewage and water treatment plants. In addition to this, activated carbon is also used in the manufacturing and greenhouse industries for the removal of toxic gases, harmful dust particles, odors, and general purification of the air. Such uses and increasing demand from these manufacturing industries too is helping to drive the growth of the global activated carbon market. There is also a growing demand from other industries such as automotive, food and beverage processing, and medical and pharmaceutical. Such growing demand is thus helping the growth of the global activated carbon market.
The global activated carbon market features a geographical landscape with five major regions that provide a better understanding of its overall working dynamics. These regions include Latin America, Middle East and Africa, North America, Asia Pacific, and North America. Currently, the global market is dominated by the Asia Pacific region. The region is expected to show a massive growth rate in the coming years of the forecast period of 2018 to 2028. Other regions such as North America, Latin America, Europe, and Middle East and Africa are all expected to show a modest growth rate in the coming years of the forecast period. The growth of the Asia Pacific segment can be primarily attributed to the presence of developing economies such as China, India, and Japan. These nations are expected to lead the market in terms of value and volume in the coming years of the projection period. With the increasing production of coconut shells that acts as the proven and most commonly used raw material for the production of activated carbon, the Asia Pacific segment is thus on course to achieve stellar valuation in the near future.
Market Segmentation is as follows:
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