Wood Activated Carbon Market Growth Analysis and Trends Forecast to 2024

In terms of commercialization, global wood activated carbon market is slated to exceed USD 500 million by 2024. The competitive spectrum of wood activated carbon market is chronicled to be rather consolidated, encompassing biggies like Ingevity Corporation, Kuraray, D&R Corporation, Haycarb, and Chemtex among others.

In recent years, this consolidation is further strengthened, as these giants have been bending over backwards to establish strategic collaboration, in a bid to expand their production capacities and global reach. An apt instance of the same is Kuraray’s recent acquisition of Calgon Carbon Corporation.

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Elaborating further, Kuraray, one of formidable players in wood activated carbon industry, has apparently signed an acquisition agreement with Calgon Carbon Corporation in a deal worth USD 1.1 billion in cash or USD 21.50 per share. Reportedly, through the deal, both the organizations would be conjointly putting their efforts in producing supreme quality activated carbon products, equipment and services.

While the move would undoubtedly stronghold Kuraray’s presence in global wood activated industry share, the Japanese chemical manufacturer intends to operate Calgon Carbon, as a separate subsidiary, keeping its headquarter intact at Pittsburgh.

Having endorsed itself in an era that is continually promoting emission reduction, the profitability quotient of wood activated carbon industry is certain to upscale, suggests analysts. Statistics depict, manufacturing units, thermal power plants and mines collectively account for almost 80% of the mercury and harmful gas emission across the globe.

In a bid to respond to this alarming call, regional governments of both developing as well as developed nations have been striving hard to constantly improvise the regulatory framework pertaining to environmental sustainability. The sheer popularity of wood activated carbon industry in recent times, can be majorly credited to this aspect.

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The European Union Biocidal Products Regulation (EU BPR 528/2012), for instance, has recently revised its norms where it has mandated activated carbon manufacturers to supply silver impregnated activated carbon that is in compliance with the improvised regulations. Allegedly, the European government has taken this initiative in a bid to ensure that downstream operators make authentic anti-microbial and anti-bacterial claims about their commercialized products.

Not to mention, these kinds of regulatory improvisations and standardizations have played a pivotal role in shaping the regional wood activated carbon market dynamics. Add to it, the growing number of manufacturing units across the European belt has further upscaled the product demand for recycling, decolorization, adsorption and purification purposes. Having said that, it is prudent to mention that decolorization and purification are claimed to be the fastest growing application domains of wood activated carbon industry and are slated to continue their percentage of authority over the ensuing years.

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While wood activated carbon market giants seek growth from its diversified application spectrum, an array of daunting challenges is expected to hinder the business expansion to some extent. Strict norms with regards to deforestation across emerging nations is reported to be at the pinnacle. International regulatory entities like UNFCCC (United Nations Framework Convention on Climate Change), INCRA (Institute for Rural Settlement and Agrarian Reform), IMAZON (Institute of Man and Environment of Amazonia) and INPE (National Institute for Space Research) have implemented several norms with regards to fauna and flora protection, a strategy that supports perseveration of forest.

Wood being the integral vertical of entire business space, the aforementioned aspect has turned out to be a major deterring factor toward wood activated carbon market growth. Nonetheless, the ongoing trends of R&D investments with a much more progressive and expansive approach, is slated to open a plethora of opportunistic avenues for wood activated carbon industry over the ensuing years. In terms of commercialization, global wood activated carbon market is slated to exceed USD 500 million by 2024.

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