Market Research Report
Activated Carbon Market - Growth, Trends, and Forecast (2019 - 2024)
|Published by||Mordor Intelligence LLP||Product code||391678|
|Published||Content info||170 Pages
Delivery time: 2-3 business days
|Activated Carbon Market - Growth, Trends, and Forecast (2019 - 2024)|
|Published: March 1, 2019||Content info: 170 Pages||
The market for activated carbon is expected to register a CAGR of 6.39% during the forecast period of 2019 - 2024. Major factors driving the market studied are conformance to stringent environmental regulations in water treatment applications in the United States and augmenting prominence for air pollution control (especially mercury removal). Narrower markets due to the increased costs of some grades of activated carbon and threat of substitutes like silica gel and super sand are expected to hinder the growth of the market studied.
Water purification application dominated the market in 2018 and is expected to grow during the forecast period, owing to the use of activated carbon in municipal wastewater treatment and a number of industrial processes.
The rising demand from the food and beverage industry is likely to act as an opportunity in the future.
Asia-Pacific dominated the market across the globe with the largest consumption from the countries, such as China and Japan.
Increasing Demand for Water Treatment Application
Water treatment is the largest application of activated carbon. Most of the water treatment filters are made up of granular activated carbon.
It is used for the removal of organic-chemical substances and colorants and reduces trace substances, such as chemicals.
Activated carbon is used as a polishing step to remove dissolved organic and non-biodegradable compounds, following physical and biological pre-treatment processes to remove solids and biological oxygen demand.
Activated carbon removes the impurities from water primarily through surface adsorption. Usage of activated carbon for water purification purposes is also the most cost-efficient point-of-use (POU) water purification devices.
Water treatment applications have a high demand for industrial and water treatment in North America and Western Europe. Increase in industrial manufacturing in Asia-Pacific is another major driver for the increase in the activated carbon demand in this segment.
China to Dominate the Market in Asia-Pacific Region
China is the second largest consumer countries of activated carbon in the world after the United States. Activated carbon is used widely in water treatment, food and beverage, healthcare, automotive industries, and industrial processing.
China's food and beverage industry is enormous and plays an important role in the country's economy.
The food and beverage industry is expected to continue to grow because of the increasing middle class population with more purchase power, as well as growing attention on the food safety and quality.
Waste water treatment is mainly because of the coal, steel and iron industries which require fresh water for the day to day activities.
North China has approximately 90% of the country's coal based industries. Also, North China has less reserves of fresh water, therefore, increasing the demand for waste water technologies which in turn is providing opportunities for the activated carbon market during the forecast period.
The activated carbon market is consolidated. The top five players account for more than 50% of the market share. The major companies for the activated carbon market include Calgon Carbon Corporation, Cabot Corporation, Jacobi Carbons, Ingevity, and Kuraray Co. Ltd.