Press release
Activated Carbon Market to Reach USD 15.20 Billion by 2032, Growing at a CAGR of 9.32%
Activated Carbon Market
Activated Carbon Market Overview:
Activated carbon, renowned for its extensive surface area and high adsorption capacity, plays a pivotal role in various applications, including water treatment, air purification, food and beverage processing, and pharmaceutical manufacturing. Its efficacy in removing contaminants and impurities has positioned it as an indispensable material in addressing environmental challenges and ensuring product quality across industries.
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Activated Carbon Market Dynamics:
The surge in demand for activated carbon is primarily fueled by stringent environmental regulations aimed at curbing pollution levels globally. Governments and regulatory bodies are enforcing measures that necessitate the use of effective filtration and purification systems, thereby boosting the adoption of activated carbon. For instance, the implementation of Maximum Achievable Control Technology (MACT) standards by the Environmental Protection Agency (EPA) in the United States underscores the critical role of activated carbon in achieving compliance.
However, the market faces challenges due to the scarcity and fluctuating prices of raw materials, particularly coconut shells, which are a primary source for activated carbon production. Natural disasters and supply chain disruptions have led to increased costs, impacting the overall pricing structure within the industry.
Activated Carbon Market Outlook and Future Trends
The Asia-Pacific region is poised to dominate the activated carbon market, with China leading in production and consumption. The country's market is forecasted to reach approximately 1.6 million tons by 2026, reflecting a CAGR of 7.3%. This growth is attributed to rapid industrialization, heightened environmental awareness, and substantial investments in water and air purification infrastructure.
Innovations in product development are also shaping the market's future. Japanese companies, for example, have introduced advanced activated carbon products tailored for specific applications. Kuraray Chemical Co., Ltd. launched "DARCO H2S LF," designed to remove hydrogen sulfide from industrial gases and wastewater streams, while Osaka Gas Chemicals Co., Ltd. introduced "Ogacarb High CR," targeting impurities in the pharmaceutical industry.
Key Recent Developments:
Vietnam: The Vietnamese activated carbon market has witnessed strategic partnerships aimed at enhancing production capacities and meeting the growing demand for water purification solutions.
Thailand: In 2012, Haycarb's joint venture in Thailand, Carbokarn Company, acquired a 100% stake in Shizuka Company Limited, strengthening its position in the regional market.
Japan: In 2017, Kuraray Co., Ltd. acquired Calgon Carbon, a prominent U.S.-based activated carbon manufacturer, for $1.1 billion. This strategic move expanded Kuraray's global footprint and diversified its product portfolio.
South Korea: South Korean firms are investing in research and development to produce high-quality activated carbon products, catering to both domestic and international markets.
Singapore: Singapore-based companies are leveraging technological advancements to develop innovative activated carbon solutions, focusing on sustainability and efficiency.
United States: In June 2023, Desotec, a European mobile filtration solutions provider, acquired Evoqua Water Technologies' carbon reactivation business. This acquisition marked Desotec's expansion into the North American market, enhancing its service offerings in the region.
Europe: The European market has seen significant consolidation, with companies like Norit regaining independence in 2022 and subsequently being acquired by One Equity Partners. This acquisition refocused Norit's operations solely on the activated carbon business, aiming to strengthen its market position.
Activated Carbon Market Segmentation
by Type
Powdered Activated Carbon
Granulated Activated Carbon
Others
by Application
Liquid Applications
Water Treatment
Food & Beverages
Pharmaceutical & Medical
Others
Gas-Phase Applications
Automotive
Industrial
Others
by Raw Material
Coal Based
Coconut Shell Based
Wood/Coal
Others (Petroleum Pitch, etc.)
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Some of the current players in the Activated Carbon Market are:
1. Osaka Gas Co. Ltd.
2. Cabot Corporation
3. Kuraray Co. Ltd.
4. Haycarb Plc
5. Kureha Corporation
6. Jacobi Carbons AB
7. Calgon Carbon Corporation
8. Carbo Tech AC GmbH
9. Carbon Resources LLC
10. Clarinex Group
11. Carbon Activated Group
12. Ingevity
13. Tronox
14. Adsorbent Carbons
15. Genuine Shell Carb
16. James & Sons
17. Indo German Carbons
18. Others
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