Activated Carbon Market Expected to Reach $5.8 Billion by 2030—Allied Market Research

According to a new report published by Allied Market Research, titled, “Activated Carbon Market," The activated carbon market was valued at $3.2 billion in 2020, and is estimated to reach $5.8 billion by 2030, growing at a CAGR of 6.3% from 2021 to 2030.

Activated carbon is used for adsorption and chemical reactions for purification, decaffeination, fuel storage, water treatment, and food processing. The global activated carbon market is expected to witness significant growth in forecast period, owing to increase in concerns about health risks associated with drinking contaminated water, improvement in  environmental standards, and growth in industrialization. Environmental factors affect availability of raw materials, such as coconut shells increase the cost of raw material, which hamper the growth of activated carbon market.

On the basis of product type, the powdered activated carbon segment dominated the global activated carbon market in 2020, and is expected to maintain its dominance during the forecast period, owing to its properties and cost-effectiveness. Use of powdered activated carbon in water and air purification plants increases for removing impurities, including pollutants and mercury. Strict environmental standards boost the growth of mercury removal plants in industries, resulting in an increase in the activated carbon market throughout the forecast period.

On the basis of application, the liquid segment dominated the global activated carbon market in 2020, and is expected to maintain its dominance during the forecast period, owing to increase in number of applications.

On the basis of end-use industry, the water treatment segment dominated the global activated carbon market in terms of revenue, in 2020, owing to increase in demand for purified water and strict environmental standards for industries to control pollution.

The major players that operate in the global activated carbon market include ADA-ES Inc., Jacobi Carbons AB, Siemens Water Technologies Corp, Kureha Corporation, Calgon Carbon Corporation, Carbotech, Carbon Resources LLC, Clarinex Group, Carbon Activated Corporation, and Cabot Corporation.

KEY FINDINGS OF THE STUDY

• On the basis of product type, the powdered activated carbon segment emerged as the global leader by acquiring more than 50% of the market share in 2020.
• On the basis of application, the liquid segment emerged as the global leader by acquiring more than 55% of the market share in 2020.
• On the basis of end-use industry, the water treatment segment emerged as the global leader by acquiring more than 40% of the market share in 2020.
• On the basis of region, Asia-Pacific is the major consumer of activated carbon among other regions. It accounted for around 35% of the global market share in 2020.

IMPACT OF COVID-19 ON THE GLOBAL ACTIVATED CARBON MARKET

• Transport limitations were implemented, resulting in reduced industrial production and disrupted supply chains, which affected global economic growth by a substantial proportion, severely impacting market growth, owing to COVID-19 pandemic.
• Companies do not earn any profit as a result of the halt in work and the companies not only lose money but also lose suppliers who provide the required materials to various companies to be used in water treatment sector.
• Furthermore, due to social distancing norms during COVID-19, the manufacturing companies work with limited workforce thus, negatively impacting the production and food & beverage processes.