PUBLISHER: Inkwood Research | PRODUCT CODE: 1193408
PUBLISHER: Inkwood Research | PRODUCT CODE: 1193408
The China activated carbon market is estimated to develop with a CAGR of 7.93% in terms of revenue and xx% in terms of volume over the forecast period of 2023-2030. The country's market growth is attributable to key drivers, such as the rise in demand for scrubbing as well as mining operations, the increase in government activities, and stringent regulations linked to vehicular emissions.
The rise in government regulations, as well as the increase in freshwater prices, play an essential role in propelling the demand for activated carbon in China. In this regard, the nation's government has issued regulations on water usage and discharge in order to enhance natural water resources in China. Over recent years, the government has also tightened the rules for chemical and coal plants in North China, requiring zero-liquid discharge (ZLD). These regulations are compelling industrial plants to implement wastewater treatment technologies, thus further heightening the need for activated carbon.
Subsequently, China's food & beverage industry is also significant and plays an essential role in proliferating the national economy. As the food & beverage industry in the country continues to grow on account of the rising middle-class population with a higher purchasing power, the emphasis on food safety and quality is projected to rise as a result. Hence, the aforementioned factors are anticipated to contribute to the China activated carbon market growth over the forecasted years.
Some of the leading companies operating in the market are: Zhulin Carbon Company, Kureha Corporation, Kuraray Co Ltd, etc.