Activated Carbon Fiber Market 2019 Size to Expand with 3.30% CAGR till 2024 with Anshan Sinocarb Carbon Fibers , Hangzhou Nature Technology, Awa Paper & Technological Company

The market for activated carbon fiber is anticipated to register a CAGR of more than 3.30% during the forecast period, 2019-2024. Activated carbon fiber is commonly produced from carbon fiber by the pyrolysis of carbonaceous materials, like polyacrylonitrile (PAN), coal tar pitch and petrol pitch, rayon (majorly viscose), and biomass (primarily jute, coconut fiber, oil palm, and cellulose), among others.

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Increasing environmental concerns related to air and water pollution, coupled with activated carbon fiber’s superior properties in comparison to that of powdered activated carbons (PAC) and granular activated carbons (GAC), are expected to drive the demand for the market during the forecast period.
Concerns related to its raw materials, such as synthetic fiber (which is non-degradable and tends to bind with molecules of harmful chemical pollutants in wastewater), and flame retardants and pesticides will probably affect the market’s growth. Additionally, its production causes irreversible damage to the environment due to emission of harmful pollutants into the environment. Such factors are likely to hinder the growth of the market.
Rising demand from the protective clothing industry and growing applications in natural gas and in storage of methane are projected to act as opportunities of growth for the market in future.

Competitive Landscape
The activated carbon fiber market is partially consolidated. In terms of market share, few of the major players currently dominate the market. Key players in the market include Anshan Sinocarb Carbon Fibers Co. Ltd, Hangzhou Nature Technology Co. Ltd, Awa Paper & Technological Company Inc., Evertech Envisafe Ecology Co. Ltd, HP Materials Solutions Inc., Jiangsu Tongkang Activated Carbon Fiber Co. Ltd, and Osaka Gas Chemicals Co. Ltd, among others.

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Key Market Trends
Increasing Demand from the Protective Clothing Industry
Various adsorbent materials are used in the production of chemical protective clothing, including activated carbon powder, sphere or fabric. It is also used in other industries, such as firefighting, mining, medical, construction, etc., as well as other manufacturing industries.
In the production of chemical protective suits, these adsorbent materials are bonded on base fabrics using a polymeric adhesive, followed by another layer of nonwoven fabrics, using adhesive or hot melt techniques. Furthermore, fabrication of chemical protective suits are carried out to produce a complete individual protective suit. However, powder-activated carbon or charcoal-based chemical protective suits are not compatible for laundry, due to which, a suit cannot be reused. The activated carbon spheres (ACS)-based chemical protective suits can be used, even after multiple laundries. However, it has certain limitations.
ACF-based chemical protective suits are comfortable, light in weight, and they sustain even after multiple laundries and address the limits of ACS-based suits. Owing to these factors, the demand for ACF has been increasing in the protective clothing industry. The healthcare industry has been witnessing a strong growth in the Asia-Pacific and Middle Eastern regions, with new investments coming in for the development of the industry. With this, the demand for protective clothing for medical application is expected to increase in the coming years.
With an increase in the number of soldiers every year and the need to provide protective suits for them, a further demand for protective clothing is witnessed by the market.
All the afore-mentioned factors are expected to drive the market during the forecast period.

North America to Dominate the Market
The United States is the world’s largest economy in the world. GDP growth rate of the country is expected to slow down to 2.3% in year 2019 from 3% in 2018. According to CDC, almost 15% of the people in the country suffer with chronic kidney disease (CKD). The number of patients has been on rise since the past few years. This scenario, is turn, boosting the demand for activated carbon fiber in the dialysis applications. Furthermore, increasing developments in chemical industry in the country is, in turn, boosting the demand for activated carbon fiber. According to the EIA's annual refinery capacity report, the United States’ operable atmospheric crude distillation capacity reached 18.6 million barrels per calendar day (b/cd), in January 2018, registering a decrease of 0.1%, as compared to the beginning of 2017. Another major industry driving the demand for activated carbon fiber is the chemical industry. For instance, the United States is the world’s third-largest producer of polypropylene. Furthermore, rising investments in the chemical industry in the country is likely to further boost the demand for activated carbon fibers.

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This release was published on openPR.