Activated Carbon Fiber Market worth $350 million by 2027 | Key players Toyobo, Kuraray, Unitika, Gun Ei Chemical Industry, Evertech Envisafe Ecology

According to recent market research the "Activated Carbon Fiber Market by Type (PAN-based, Pitch-based, Cellulosic Fiber, Phenolic Resin), Application (Solvent Recovery, Air Purification, Water Treatment, Catalyst Carrier), & Region (North America, Europe, APAC, RoW) - Global Forecast to 2027", is estimated to be USD 232 million in 2022 and is projected to reach USD 350 million by 2027, at a CAGR of 8.5% between 2022 and 2027. Factors such as high demand for extended performance and reduced maintenance, growing demand from pollution control and water treatment applications, and increasing need for efficient processes are expected to drive the markets growth during the forecast period.

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Cellulosic fiber is the fastest-growing segment in activated carbon fiber market, in terms of value and volume

PAN, also known as polyacrylonitrile, is a synthetic thermoplastic polymer is expected to be the fastest-growing segment in the cosmetic preservatives market during the forecast period. This growth can be attributed to various factors such as environment friendly nature of cellulosic fiber, easily accessibility to raw material, high strength and superior characteristics.

Air purification segment is expected to grow with the second highest CAGR, both in terms of value and volume during the forecast period

Air purification segment is expected to be the second fastest-growing application of the activated carbon fiber market. There is an increased demand for air purifiers and pollutant removers due to increasing pollution levels worldwide. Therefore, strict government regulations and increased pollution will increase the demand for air purification application of activated carbon fiber market.

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Activated Carbon Fiber (ACF) is a fiber form of activated carbon. ACF is a new advanced material made of cellulosic, PAN, phenolic, and pitch fibers that differs from traditional granular or powder-activated carbon. Compared with granular activated carbon (grain diameter 500-5000 μm), ACF has a much smaller diameter and a much larger surface area. Because the pore diameter of ACF is approximately 15 to 20Å and most of the pores are micropores, the rate of adsorption and desorption is rapid. Furthermore, it has excellent adsorption in low concentrations. ACF does not fly apart like powder-activated carbon (grain diameter 5-30 μm), and it is simple to produce in a variety of forms such as paper, textile, and felt.

The global activated carbon fiber market is estimated to be USD 232 million in 2022 and is projected to reach USD 350 million by 2027, at a CAGR of 8.5% between 2022 and 2027. The market's growth is attributed to the expanding chemical industry, water treatment plants in developing nations, and the demand for air purification due to high pollution loads emitted into the atmosphere.

The major drivers for the activated carbon fiber market include Increasing demand for drinking water purification and treatment of wastewater, rising pollution demanding air purification and pollutant-free air, High production cost and fluctuating raw material availability, Adverse environmental impact of ACF production can restrain the market from growing. Some of the opportunities for manufacturers include Increasing demand for storage of natural gas and other energy gases such as methane. The major challenges faced by the manufacturers are cost-effective production and regeneration process and need for environment-favourable process of production. The global activated carbon fiber market is estimated to be USD 232.9 million in 2022 and is projected to reach USD 350.3 million by 2027, at a CAGR of 8.5% between 2022 and 2027.

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Companies operating in the activated carbon fiber market have strengthened their position by adopting expansions, partnerships, agreements, new product/technology launches, joint ventures, contracts, and mergers & acquisitions from 2018-2022. For instance, in March 2022, Toyobo Co., Ltd. and Mitsubishi Corporation (MC) signed a joint venture agreement to plan, develop, manufacture, and sell functional materials. The new company will operationalize from 2023 onward.

Toyobo Co., Ltd. (Japan), Kuraray Co., Ltd. (Japan), Unitika Ltd. (Japan), Daigas Group (Japan), Auro Carbon & Chemicals (India), Hangzhou Nature Technology Co., Ltd. (China), Eurocarb Products Ltd. (UK), China Beihai Fiberglass Co., Ltd. (China), Bio-Medical Carbon Technology Co., Ltd. (Taiwan), CeraMaterials (US), and HPMS Graphite (US) are some of the key players in the activated carbon fiber market.

Toyobo Co., Ltd. is one of the major key players in the activated carbon fiber market. The company primarily designs, manufactures, and distributes air filter products using activated carbon fiber. The company operates through five business segments: Films and Functional Polymers, Mobility, Lifestyle and Environment, Life Science, Real Estate and Other Business. Activated carbon fiber-equipped filters offered by the company are used in a wide range of applications, such as air purification, dust removal, indoor air decontamination, and deodorization. The company has a wide presence in Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. The company provides activated carbon fiber-based products from the Films and Functional Polymers segment.

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