Activated Carbon Market: Drivers, Restraints, Opportunities And Threats (2021–2027)

Precision Business Insights published a research report on "Global Activated Carbon Market: By Product Type (Extruded or Pelletized Activated Carbon, Granular Activated Carbons (GAC) and Powdered Activated Carbons (PAC)), By Application (Gas Purification, Medicine, Metal Extraction, Water Purification and Other Applications), By End User (Automotive, Food and Beverage, Healthcare, Industrial, Water Treatment and Other End-user Industries) and Geography- Global/Region/Country Forecast to 2027".

The Global Activated Carbon Market was valued at US$ 3.2 Bn in the year 2020 and is anticipated to record US$ 4.3 Bn till 2027 witnessing a CAGR of 4.3% over the forecast period 2021-2027.

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Increasing Preference for Water Treatment Fueling the Market Growth
Activated carbon is hugely used in water purification process for removing contaminants and unwanted elements. It is a prevailing absorbent often used in industrial and municipal water treatment processes to treat wastewater, municipal water and drinking water to process it for the use. It is one of the most favored water treatment methods used due to its unusual range of functions. It serves as the most efficient means to remove key contaminants like DBP and THM. It also helps to remove residual disinfectants and organic ingredients of water supplies. It works effectively to increase water taste and reduce health risks. It further protects water treatment units like ion exchange resins and reverse osmosis membranes from probable harm because of the organic fouling. There are several major factors fuelling the activated carbon market growth such as technological developments in manufacturing of activated carbon, growing demand for water treatment, pollution control activities, growing R&D activities and strict environmental rules for water treatment applications. But, weak economic conditions, dearth of raw materials supply and availability of substitutes are restraining the growth of the market.

Asia Pacific Witnesses Larger Revenue Share in Global Activated Carbon Market
Asia Pacific witnessed larger revenue share in market recording considerable CAGR rate. This region is experiencing huge growth because of ease access to raw materials and growing development strategies to fulfill the demand for activated carbon. India and China the emerging countries of the region greatly contribute towards the growth of the market as beverage and food industries in China are growing and hence these industries demand for activated carbon and lead towards the growth of the market. North America is also anticipated to witness considerable market share during evaluated period due to the factors such as initiatives taken by the government to safeguard the environment, strict rules and standards and increase in environmental concerns.

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Competitive Analysis
A few major key players operating in Global Activated Carbon Market are The Calgon Carbon Corporation (U.S), Cabot Corporation (U.S), DESOTEC Activated Carbon (Belgium), Haycarb Plc. (Sri Lanka), Kuraray Chemical Co. Ltd ( Japan), KUREHA CORPORATION (Japan), Lenntech BV (the Netherlands), Osaka Gas Co. Ltd (Japan), Oxbow Activated Carbon LLC (U.S), Silcarbon Akilotonivkohle GmbH (Germany) and Jacobi (Sweden). Key players of the market believe in following a few strategies such as mergers, acquisitions and new product launchings to strengthen their position in the market.

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