The global activated carbon market is anticipated to grow with a CAGR of 7.20% in terms of revenue and xx% in terms of volume during the forecast years of 2023-2032. Some of the key drivers boosting the growth of the market include the accelerating demand for mercury control applications, the resurgence of the auto industry, the rising demand for water and sewage treatments, as well as the extensive usage of activated carbon in the pharmaceutical and healthcare industries
Activated carbon entails the processed form of porous carbon, produced from organic components with high carbon content, like coal, wood, and coconut shells. The activation procedure includes raw materials’ carbonization, followed by treating them with chemicals or oxygen. This results in the development of porosity, thereby leading to high absorption power. Moreover, activated carbon sorbents are also customized for particular applications, primarily based on pore volume requirements and pore size.
Besides, the surging demand for activated carbon for mercury control has also provided the global activated carbon market with lucrative growth opportunities. Numerous market vendors have further improved their portfolio and added products such as powdered activated carbon. Hence, this factor aids industrial air purification through the elimination of mercury and further propels the market growth globally.
The global activated carbon market growth is assessed by analyzing North America, Europe, the Asia-Pacific, and Rest of World. The Asia-Pacific market is projected to observe swift growth during the forecast years owing to the growing need for activated carbon applications, such as water treatment. Moreover, the presence of low-cost vendors in the region is also set to contribute to larger export volumes.
With rapid industrialization in developing countries, activated carbon’s utility for diverse applications, like mercury control and air purification, is on the rise, as well. Thus, such factors are attributed to the Asia-Pacific being the fastest-growing and dominating region across the global activated carbon market.
The global activated carbon market is fragmented among local players and consolidated among key players. Additionally, all enterprises compete based on technology, price, product features, and offerings through numerous competitive strategies. Thus, the industrial rivalry is anticipated to be high over the forecast years. Some of the eminent enterprises operating in the market are Osaka Gas Chemicals, Cabot Corporation, Haycarb PLC, etc.
Our report offerings include:
- Explore key findings of the overall market
- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation caters to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
- Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
- The competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments