Activated Carbon Market Demand to Surge Past USD 18 Billion by End of Decade

The global activated carbon industry was valued at US$ 7.3 billion in 2022. It is projected to advance at a compound annual growth rate (CAGR) of 11.2% from 2023 to 2031 and reach US$ 18.5 billion by the end of 2031.

The growth of the global activated carbon market is being driven by rising environmental awareness and increasingly stringent air and water quality standards around the world. The use of activated carbon in water and wastewater treatment applications is increasing significantly, which is another key factor fueling market expansion. Water purification and air filtration applications in particular have become more popular in recent years. Additionally, the growth of industries such as chemicals, pharmaceuticals, and food processing is expected to further bolster the global activated carbon market size during the forecast period from 2023 to 2031.

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Surging regulatory mandates, ongoing technological advancements, and the rising utilization of activated carbon across various industrial sectors are offering lucrative opportunities for market players. Leading companies in the industry are focusing on more sustainable manufacturing practices for activated carbon in order to gain market share.

Activated Carbon Market Overview

Activated carbon, which is a highly porous form of carbon, is well-known for its exceptional adsorption properties that have made it suitable for a wide range of applications. This versatile material finds widespread use across different industries including water treatment, air purification, food & beverage processing, pharmaceuticals, and others.

Due to its ability to efficiently remove pollutants and impurities from various substances, activated carbon has emerged as an essential component in modern environmental and industrial processes. Activated charcoal carbon filters are particularly effective at removing chlorine, sediments, volatile organic compounds, taste, and odor from water, although they are less capable of removing minerals, salts, and dissolved organic compounds.

Common source materials used to manufacture activated carbon include coconut shells, coal, and wood since they contain high carbon content. Essentially, any organic substance with a high carbon composition can serve as the primary raw material.

The activated carbon industry has experienced significant growth driven by rising concerns over water and air quality as well as tightening environmental regulations. Furthermore, growing awareness about sustainable and eco-friendly solutions has boosted demand for activated carbon products.

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Rising Use of Activated Carbon in Water and Wastewater Treatment

With a growing global population, there is increasing demand for clean, pollution-free drinking water. Population growth exacerbates water pollution, necessitating the treatment and cleaning of sewage and industrial effluent.

Contaminated water can carry health hazards like water-borne illnesses as well as organic chemicals, colorants, pharmaceutical residues such as medicines, and arsenic. Activated carbon finds widespread application in both municipal and industrial wastewater treatment systems. The effluent discharged, whether municipal wastewater or an industrial process discharge, contains various undesirable components that must be removed before being released into rivers, reused, or sent for additional treatment.

Stringent standards and regulations enacted by governments around the world mandate the elimination of these contaminants during water and wastewater treatment to make water suitable for drinking and industrial use. Activated carbon is a highly effective adsorbent material due to its porous structure and huge surface area. It can be reused multiple times through regeneration which involves desorbing various components to restore exhausted carbon for future adsorption. This translates to economic and environmental benefits and underlines the importance of regeneration in the industry.

Rising Demand for Activated Carbon in Air Purification

Activated carbon also finds extensive use in air treatment and filtration processes. Air pollution has increased with industrialization and the proliferation of coal-fired power plants.

According to India's National Air Quality Monitoring Programme, particulate matter like PM10 and PM2.5 routinely exceeds National Ambient Air Quality Standards, especially in urban areas of the Indo-Gangetic plain. Other pollutants such as SOx, NOx, and ozone are usually within acceptable national limits. Research has evaluated India's emission sources, underscoring the urgent need for effective air filtration solutions.

Surging pollution levels have driven up air purifier sales in India, with manufacturers reporting a 60% increase in sales from October to January 2020. Stringent rules by governments worldwide are elevating demand for air filtration. Air filtration is commonly used in coal-fired power plants which produce large amounts of mercury. Under the Clean Air Act, the EPA has set limits on mercury and other harmful emissions, boosting demand for air purification systems and activated carbon.

Activated carbon is widely applied to filter air and remove mercury, chlorine, and hydrogen sulfide, a trend projected to fuel future activated carbon market growth.

Regional Outlook

The geographical outlook for the activated carbon market varies by region. Asia Pacific currently dominates as the largest and most lucrative market. Rapid growth in China, India, and Indonesia's chemicals, food & beverages, and energy sectors underpins demand. China represents the world's biggest producer and consumer of activated carbon as well as electric vehicles, giving it significant global market share.

Projected increases in energy storage and medical applications are expected to propel the Asia Pacific market in coming years. Water scarcity and rising needs for industrial water purification and reuse in the region will further stimulate demand. Expansion of Asia Pacific's automotive industry combined with growing activated carbon adoption to curb vehicular emissions will also support market growth.

North America's market is anticipated to witness robust gains over the next decade. Increasing EPA and US government pressure on companies to lower mercury emissions will elevate demand. Availability of innovative technologies and industrial water purification requirements in the US also support regional expansion. Widespread activated carbon usage in water treatment applications will additionally bolster the market.

Analysis of Key Players

Cabot Corporation, Kuraray Co. Ltd., Osaka Gas Chemical Co. Ltd., Haycarb Pvt. Ltd., Kureha Corporation, Evoqua Water Technologies, Clarimex Group, Donau Chemie AG, Carbon Activated Corporation, General Carbon Corporation, Acuro Organics Limited, Indo German Carbon Ltd, TIGG LLC, Carbo Tech, TMK Carbon Sdn Bhd, and Javaindo Purestar Carbon are the prominent players in the market.

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