Wood Activated Carbon Market Growth Drivers, Regional Outlook and Forecast to 2024 | Haycarb., D&R Corporation, Jacobi Carbons, Ingevity, Kalpaka Chemicals

The wood activated carbon market is estimated to procure steady growth driven by the product’s noteworthy application in water purification activities. Ground water levels across the globe are decreasing at a considerable rate, causing an acute shortage of potable water around many countries. Meanwhile, industries are continuing to discharge waste-water into water bodies. These factors have led to the development of water treatment plants, driving the demand for wood activated carbon.

Several wood activated carbon manufacturers are focusing on developing new solutions specific to water treatment plants. For example, in 2018, leading specialty chemicals and carbon materials producer, Ingevity publicized the benefits of its powdered wood based activated carbon, AquaNuchar carbon, as it is used for water purification in a short time, using less carbon, helping make municipal city water safe.

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Wood based activated carbon also find application in air purification systems owing to its ability to trap volatile organic compounds, gases and small particles. Strict government norms regarding maintenance of air quality levels and lowering industrial gas emissions could have a positive impact on industry outlook. A research report by Global Market Insights, Inc., estimates that the wood activated carbon market is likely to exceed USD 500 million by 2024.

In terms of product, the powdered wood activated carbon segment is projected to gain over 60% of the total market share. This growth can be credited to the cost-effective nature of wood activated carbon powder and its enhanced performance in purification process.

The fluid adsorption application segment is anticipated to hold around one third of the global wood activated carbon industry share over the forecast period owing to the product’s ability to adsorb a variety of fluids. Meanwhile, the purification application segment is estimated to rise significantly given to the extensive use wood activated carbon in the food processing sector.

Growth drivers of wood activated carbon market are

• Growth in water treatment industry
• Supportive regulations related to the clean and healthy air

Based on end-use, the market for wood activated carbon is bifurcated into food & beverages, water treatment, air treatment and pharmaceutical industries. Estimates suggest that the water treatment end-use segment is expected to record revenues over USD 180 million by 2024.

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While on the regional scale, Asia Pacific is considered to be the largest market avenue for wood activated carbon. Flourishing manufacturing sector have driven the construction of water treatment plants in the region.

The global wood activated carbon market comprises of companies such as Kuraray, Chemtex Speciality, Zhejiang Xingda Activated Carbon, Osaka Gas Chemicals Company, Ingevity, D&R Corporation and Haycarb, among others. These firms are focusing on various business strategies such as mergers and acquisitions, new product development and collaborations. In 2018, Kuraray announced the acquisition of Calgon Carbon Corporation to develop and expand its activated carbon business.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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