Wood Activated Carbon Market: Concerns over Carbon Emissions to Drive Usage, Forecast 2016 - 2024

The global wood activated carbon market is moderately consolidated in nature. Calgon Carbon Corporation, Ingevity Corporation, Cabot Corporation, and Osaka Gas Chemicals Co .Ltd. – the top four manufacturers – collectively held more than 55.0% share in 2015. Of these, Calgon Carbon Corporation was the clear leader in the wood activated carbon market.

There is intense competition between the prominent market players. To guarantee sustainability and greater market share, the key players are implementing successful business strategies such as product innovations and expansion of businesses, finds Transparency Market Research (TMR). For instance, Ingevity Corporation, besides manufacturing wood-based powdered activated carbon, also develops solutions for customers and end markets, which is likely to increase the company’s share in the activated carbon market. The development of activated carbon honeycombs for the automotive industry shows the company’s interest in increasing its portfolio. According to a TMR report, the wood activated carbon market is expected to be valued at US$456.0 mn by the end of 2024.

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Growing Demand for Cleaner Air and Water Drives Market

Asia Pacific currently exhibits the maximum demand for wood activated carbon and is expected to remain most profitable throughout the forecast period. This region is projected to contribute as much as 44.1% of the total demand for wood activated carbon by the end of 2024. The main growth driver in this region is the emphasis on clean air and quality of water by developing economies and the rising demand for wood activated carbon in decolorization. The presence of wood activated carbon producers in Asia Pacific is another factor behind the high level of supply and demand. The demand for wood activated carbon is considerably high in North America and Europe as well, wherein it is used to remove gaseous impurities.

Based on application, the global wood activated carbon market is segmented into decolorization, gas adsorption, removal of impurities, and others. Removal of impurities is expected to hold a major market share. By the end of 2024, this segment will account for over 30.3% share in the market. Due to stringent pollution control norms, this application segment is expected to continue leading the demand for wood activated carbon over the given forecast period.

Reduction of Mercury Emission Boosts Demand for Wood Activated Carbon

Several power plants and manufacturing units are emitting mercury and harmful particles into the environment. The basic aim of wood activated carbon is to remove mercury particles from such power plants and manufacturing industries. It has become mandatory to adhere to regulatory laws pertaining to mercury emissions. The two major countries responsible for mercury emission – China and the U.S. – have agreed to follow the norms and reduce the mercury levels in the atmosphere by 2020.

The use of wood activated carbon is also found in water purification. It helps in eliminating major water pollutants such as industrial effluents, sewage, and agrochemicals, before domestic water consumption. Emerging economies have exhibited a significant demand for wood activated carbon for its water purification characteristics.

Raw Material Shortage Creates Obstacle for Market Growth

Wood flour, sawdust, a slew of pre-treatment chemicals, and wood pellets are the required raw materials for the production of wood activated carbon. These by-products of wood processing are also required by industries producing fuel and manufacturing synthetic resins and wood pulp. The companies demanding wood processing by-products, especially sawdust, are large in number, which limits the supply of sawdust for wood activated carbon manufacturers. This shortage, in turn, restricts market growth. Nevertheless, the dearth of raw material has resulted in the development of various other forms of activated carbon such as plasma processed carbon, which presents market players several opportunities for growth.

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