Activated Carbon Market
Activated Carbon Market size is expected to touch USD 4,500 million by 2028, registering a CAGR of 9.3% over the forecast period (2021-2028), owing to the strict environmental norms towards water treatment applications and growing prominence of air pollution control.
Activated Carbon or activated charcoal is a processed coal with small and low volume pores that expands the surface area required for absorption. Rising environmental concerns and awareness have resulted in enforcement of strict emission norms encouraging producers to invest in latest technologies for the use of activated carbon in air treatment applications. Countries including India and China have made significant investment in water purification plants, boosting the market growth. For example, the World Bank in 2020 funded USD 100 million loans to China for the enhancement and purification of rural water supply.
With the growing pollution and problem of water shortage, the need for water treatment plants has increased. As per the UNICEF in 2020, nearly 4 billion people, i.e., two-third of the overall population faces water shortage at least for one month in a year. Also, as per the Activated Carbon Market report,drinking impure water can significantly harm health. In addition, ongoing product innovations will further strengthen the market size. For instance, Tantech Holdings Ltd., in 2021, introduced the Variety Combination Honeycomb Activated Carbon designed to be flexible and strong for large area purification. However, insufficient availability of raw material and the presence of substitutes such as silica gel and super- sand might hamper the Activated Carbon Market Share.
Asia Pacific region is projected to witness a higher CAGR over the forecast period, owing to strategic government norms and existence of several end use industries. Also, accelerating population has stimulated the need for pure and uncontaminated water driving the Activated Carbon Market growth.
Activated Carbon Market Segmentation:
Activated Carbon Market by Type
Activated Carbon Market by End-User
- Pharmaceutical & Medical
- Air purification
- Food & Beverage Processing
- Water Treatment
Activated Carbon Market by Region:
- Asia Pacific
- Rest of APAC
- North America
- United States of America
- United Kingdom
- Rest of Europe
- South Africa
- Saudi Arabia
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