Activated Carbon Market Size, Demands, Key Players: Kuraray Co.Ltd, Norit, Kureha Corporation, BASF SE, Albemarle Inc, Ingevity, Tronox Holdings Plc, Evoqua Water Technologies LLC

The activated carbon market size is estimated to be USD 4.4 billion in 2023, and it is projected to reach USD 7.0 billion by 2028 at a CAGR of 9.5%. Out of three types of activated carbon (Powdered Activated Carbon, Granular Activated Carbon, and Others).Powdered Activated Carbon has the largest market share because it has a relatively smaller particle size than granular activated carbon and presents a large surface-to-volume ratio. This property helps to use it effectively for wastewater treatment. It also has a low initial cost, and its dosage can be adjusted based on changing contaminant levels, which makes it beneficial for water purification and also helps to drive the market of activated carbon during the forecast period.

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Companies Covered: Kuraray Co., Ltd.(Japan), Osaka Gas Chemicals Co. Ltd. (Japan), Haycarb Pvt. Ltd.(Sri Lanka), Norit (Netherlands), and Kureha Corporation (Japan), BASF SE (Germany), Albemarle Inc. (US), Ingevity (US), Iluka Resources Limited (Australia), Tronox Holdings Plc (US), Evoqua Water Technologies LLC (US), and others.

The activated carbon market is a rapidly growing industry that involves the production and distribution of activated carbon, a highly porous material with a large surface area that is used for a variety of applications. Activated carbon is made by heating carbon-rich materials, such as coconut shells, wood, and coal, to high temperatures in the presence of a gas, which creates a highly porous structure.

The key drivers of the activated carbon market include the increasing demand for activated carbon in water and air purification applications, the growing use of activated carbon in the food and beverage industry for decolorization and deodorization, and the increasing adoption of activated carbon in the pharmaceutical industry for drug purification.

The market includes various types of activated carbon, including powdered activated carbon (PAC), granular activated carbon (GAC), and activated carbon fibers (ACF). Each type of activated carbon is designed to meet specific application requirements, such as pore size, surface area, and adsorption capacity.

The market is expected to continue its growth trajectory in the coming years, driven by the increasing demand for activated carbon in emerging economies, the growing use of activated carbon in the automotive industry for emission control, and the increasing adoption of activated carbon in the energy sector for gas and liquid purification.

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