Activated Carbon Market worth $8.4 billion by 2030 | Key players Diagas Group (Japan), Kuraray Co., Ltd. (Japan), Haycarb PLC (Sri Lanka).

According to recent market research the "Activated Carbon Market by Type (Powdered Activated Carbon, Granular Activated Carbon), Application (Liquid Phase Application, and Gas Phase Application), End-Use Industry, Raw Material (Coal, Coconut, Wood, Peat), and Region - Global Forecast to 2030", is projected to grow from USD 4.4 billion in 2023 to USD 8.4 billion by 2030, at a CAGR of 9.8% during the forecast period. The increasing global population and improving living standards contribute to a heightened demand for clean air and water. Hence, there is a rise in the purification of both air and water, which drives the activated carbon market during the forecast period. Additionally, factors such as the growing food and beverage industry, recovery of the automotive sector, and strict government regulations further propel the market for activated carbon. However, the market faces challenges due to the scarcity of raw materials, leading to price hikes. The reactivation of activated carbon presents lucrative opportunities for producers in the industry. Weak economic growth remains a significant challenge for the market.

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With its small particle size, powdered activated carbon boasts a large surface area and exceptional adsorption capacity, rendering it highly effective in eliminating various contaminants like organic compounds, colorants, and odors from both water and air. It finds widespread application in water treatment, wastewater treatment, food and beverage processing, and air purification tasks.

A prominent type of activated carbon originates from coconut shells, significant for its abundant micropores ideal for water filtration. Sourced from renewable coconut trees with lifespans exceeding 70 years, this carbon variety exhibits increased hardness and filtration effectiveness, making it highly applicable across a wide range of water treatment scenarios. Its filtration efficiency and performance depend on various factors and carbon characteristics. Recognized for its high levels of hardness, purity, and low ash content, coconut-derived activated carbon serves as a potent adsorbent for a diverse array of contaminants.

Activated carbon is vital in gas phase applications as it effectively adsorbs a wide range of pollutants and contaminants found in the air. This includes harmful gases like volatile organic compounds (VOCs), nitrogen oxides (NOx), sulfur oxides (SOx), odors, and airborne dust particles. By adsorbing these substances, activated carbon helps to purify the air, ensuring it is safe and healthy for inhalation. This makes activated carbon filters advantageous in air purification systems used in industrial, commercial, residential, and automotive settings. Activated carbon plays a significant role in mitigating emissions in exhaust systems by capturing and neutralizing harmful gases before they are released into the atmosphere. Thus, activated carbon is essential for improving air quality, reducing pollution, and safeguarding human health in gas phase applications.

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Activated carbon finds extensive application in the food & beverage industry for purifying food ingredients and enhancing their color. Its usage spans various processes, including the removal of color from food products such as oils and other edible items. Specific applications include purifying sweeteners (fructose, glucose, and dextrose syrups), edible oils, glycerine, wine, juices, and organic and inorganic acids (such as adipic, citric, lactic, and phosphoric acids). Additionally, activated carbon is essential to the preparation of materials for beverage production, including soft and alcoholic beverages. It helps the decolorization of sugar syrup, removal of disinfecting agents from municipal water, treatment of bore-hole sources containing volatile organic compounds (VOCs), purification of carbon dioxide from fermentation processes, and adjustment of specification products like beers, wines, and spirits.

Europe serves as a manufacturing hub for prominent pharmaceutical companies. The pharmaceutical industry in the region is primarily propelled by rising investments in research and development (R&D), significant expenditures on pharmaceuticals, and a rapidly aging population. Regulatory oversight from the European Medicines Agency (EMA) ensures adherence to stringent standards regarding drug purity and quality, thereby stimulating the demand for activated carbon within this sector.

Major companies such as Diagas Group (Japan), Kuraray Co., Ltd. (Japan), Haycarb PLC (Sri Lanka), Norit (Netherlands), 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 other leading companies in this market.

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The Osaka Gas Group has transitioned to a new identity as the Daigas Group. In 2018, the company introduced its fresh group brand, "Daigas Group." The company is involved in natural gas production and operates across multiple sectors. The Domestic Energy segment focuses on manufacturing, supplying, and selling city gas, gas appliances, liquefied natural gas, liquefied petroleum gas, industrial gas, and electricity generation. The International Energy segment is dedicated to natural gas and petroleum developments and investments, along with the leasing of transport tankers. The Life and Business Solutions segment provides information processing services and markets fine materials and carbon products.

Kuraray Co., Ltd. specializes in manufacturing functional resins, high-performance materials, fibers & textiles, medical products, and synthetic rayon. The company operates through multiple segments, including Vinyl Acetate, Functional Materials, Isoprene, Trading, Fibers and Textiles, and Other Businesses. Within the Functional Materials segment, Kuraray Co., Ltd. produces activated carbon as part of its Environmental Solutions Division. In the Vinyl Acetate segment, the company domestically manufactures polyvinyl alcohol (PVA) resin, optical PVA film, and EVAL gas barriers. The Isoprene segment is dedicated to the production of isoprene, fine chemicals, GENESTAR, SEPTON, liquid rubber, and KURARITY acrylic thermoplastic elastomer. Under the Functional Materials segment, various products such as methacrylic resin, CLARINO, and dental materials are offered for the medical business. The Fibers and Textiles segment includes the sale of products like KURALON, polyester staples, KURAFLEX, hook and loop fasteners, among others. The Trading segment is involved in importing, exporting, and wholesaling fibers and textiles, including polyester filament and chemicals.

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