The global activated carbon market is expected to reach USD 10.15 billion by 2024, according to a new report by Grand View Research, Inc. Increasing demand for air & water purification in the coal-fired plants, clinker cement industries is expected to drive the demand for granular and powdered activated carbon.
Activated carbon possesses a high degree of micro porosity and adsorption properties, owing to which it is preferred in air and water purification across various end-use industries.
Applications in the removal of mercury, acid gas toxins along with metallic emissions from coal & oil powered plants are expected to fuel industry growth. Rising concerns regarding drinking water safety along with a shift in trend towards adopting healthy lifestyle are anticipated to drive market demand.
Increasing environmental pollution due to industrial and vehicular emissions is projected to fuel air purification segment. Water treatment applications include municipal treatment, domestic water filters, and groundwater remediation.
Food & beverage industry uses activated carbon to remove odor & color from various products. These carbons are used in pharmaceutical industry to cure poisoning due to toxins ingestions. Various regulations promoting the use of activated carbons in air and water treatments plants are expected to trigger demand over the forecast period. U.S.
EPA regulations governing mercury emissions from coal power plants are projected to drive the activated carbon consumption over the next eight years. EU waste water directives regulate water pollution and wastewater from municipal and industrial sources.
Further key findings from the report suggest:
- The global activated carbon market demand was 1,684.3 kilo tons in 2015 and is expected to reach 5,092.2 kilo tons by 2024, growing at a CAGR of 13.3% from 2016 to 2024
- Powdered activated carbon emerged as the leading product segment with demand share estimated at 59.1% in 2015. It is also expected to witness the highest growth of 14.2% over the forecast period.
- Air purification was the leading end-use segment and accounted for over 40% of total demand in 2015. Growing awareness regarding health benefits of air filtration coupled with regulations such as Clean Air Act is expected to drive this segment. It is also expected to witness the highest growth of 15.0% over the next eight years
- Water & wastewater treatment is also expected to brisk growth over the forecast period. The growth can be attributed to increasing applications in municipal plants, ground water remediation, and beverage industry.
- Asia Pacific was the leading regional market with demand share exceeding 40% in 2015. Increasing usage in air & water purification and emergence of novel applications such as pharmaceutical and food & beverage industry in the region is expected to drive the product demand.
- Key market participants include Kureha Corporation, Carbon Activated Corporation, ADA-ES Inc., Haycarb PLC, Carbotech, Carbon Resources LLC, Cabot Corporation, MeadWestvaco Corporation, and Calgon Carbon Corporation.