Wood Activated Carbon Market -Global Industry Analysis,Trends and Forecast 2024
Owing to this high concentration of market shares held by a few prominent players, the competitive intensity is very high between them. Their rivalry is also likely to affect the growing number of small and medium scale companies coming up in countries such as China.
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According to a new research report released by Transparency Market Research, the overall threat of new entrants in the global market for wood activated carbon is expected to remain medium to high over the coming years. Product differentiation is low and the demand for wood activated carbon is escalating quickly, thus allowing a positive room for new entrants to procure distribution contracts in.
Armed with a CAGR of 9.2% in revenue within a forecast period from 2016 to 2024, the global market for wood activated carbon is expected to generate US$224.7 mn by 2016, which is expected to reach US$456.0 mn by the end of 2024.
The strong ability of wood activated carbon to separate particulate matter, lead, and other harmful elements from both liquids and gases makes it exceptionally useful in the removal of impurities from substances. This application segment is expected to generate US$141.8 bn for wood activated carbon manufacturers by the end of 2024.
APAC Likely to Retain Leading Rate of Wood Activated Carbon Consumption
By the end of 2024, Asia Pacific is expected to generate US$197.18 mn in revenue from the consumption of wood activated carbon. This region is going very big on the use of wood activated carbon for removal of impurities and decolorization. At the same time, this region is also showing a very high demand for wood activated carbon for the purpose of gas absorption. The share in volume used up by Asia Pacific is expected to increase quite a bit over the coming years.
North America holds the second place in terms of demand for wood activated carbon. The demand by this region is expected to increase significantly over the coming years due to a growing use of impurity removal methods that are effective and not harmful to the environment. This region is focusing heavily on the implementation of gas absorption techniques to reduce the emission of vehicles.
Environmental Regulations Bear Down on Mercury Emissions, Spur Wood Activated Carbon Demand
“Over 70% of the mercury emissions globally come from power plants, with coal-fired and thermal power plants being the key culprits. Almost all governments are now cracking down on the emission of mercury and other harmful particles by power plants and the manufacturing industry. This increasing pressure to maintain cleaner air quality has pushed wood activated carbon into favor with most industries,” states a TMR analyst.
Both the U.S. and China are two major countries responsible mercury emissions. Both nations have agreed to adhere to strict emission norms and significantly reduce mercury levels in the atmosphere by 2020. This puts both countries at the top of the charts for wood activated carbon consumption.
Saw Dust Prices Surge Affects Wood Activated Carbon Production
The key raw materials for producing wood activated carbon include a slew of pre-treatment chemicals, wood flour, wood pellets, and saw dust. Of these, saw dust, wood pellets, and wood flour are usually derived as byproducts of wood processing.
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The complication lies in the demand for these raw materials being equally high in other industries such as fuel generation and the manufacturing of synthetic resins and wood pulp. With a large number of companies holding a high demand for saw dust and other wood processing byproducts, the dependency of wood activated carbon manufacturers on saw dust becomes increasingly precarious, hindering this market’s growth rate.
“This shortage of raw materials can be mitigated by developments on other raw materials. For instance, there are several studies pointing towards the feasibility of other forms of activated carbon and even plasma processed carbon,” adds the analyst.
The information presented in this review is based on a Transparency Market Research report, titled, “Wood Activated Carbon Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
Removal of impurities expected to generate US$141.8 mn for wood activated carbon players by 2024.
Asia Pacific wood activated carbon consumption expected to generate revenue of US$197.18 mn by the end of 2024.
Total revenue earned by wood activated carbon players on a global level is expected to reach US$456.0 mn by 2024.
Key segments of the Global Wood Activated Carbon Market
Global Wood Activated Carbon Market, by Application
Removal of impurities
Others (recovery of organic solvents, etc.)
Global Wood Activated Carbon Market, by Region
Middle East & Africa
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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