Activated Carbon Market Size – USD 5.49 billion in 2019, Growth - CAGR of 16.9%, Trends
New York, NY -- (SBWIRE) -- 12/02/2020 -- The Activated Carbon market is projected to reach USD 19.28 billion by 2027, according to a new report by Reports and Data, growing at a CAGR of 16.9% over the forecast period. An increased prevalence of infectious diseases and rising levels of pollution in urban areas are expected to fuel growth of activated carbon market. Improved working conditions, higher disposable incomes, and enhanced health literacy are also many of the variables expected to drive progress. Demand for air purifiers to destroy airborne diseases and water treatment plants due to demand for clean drinking water, especially in emerging economies, is expected to increase leading to need for air and water pollution control equipment to be implemented. An increasing awareness of health particularly among urban youth, is expected to make a significant contribution to development of the market.
The growing competition in mercury control technology for industrial air purification applications is among the leading drivers for the market. However, growing globalization, strict regulations for environmental protection, and understanding of emissions management are expected to have a positive impact over the forecast period on business growth. Maximum Achievable Control Technology (MACT) specifications have been set by the Environmental Protection Authority (EPA) to enable manufacturers to produce more.
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Mercury emissions are increasing in the Asia-Pacific region, mainly because of growing power generation in emerging economies such as China and India. In these countries, coal is a key source of energy and in turn, needs activated carbon fuels to reduce mercury emissions. Rising environmental constraints have also raised demand for activated carbon in the area due to increased pollution from the automotive sector and also due to increased requirements for industrial water treatment.
Economies such as China, India and Japan are expected to lead the market for activated carbon in the coming years. The most widely used and productive raw materials for activated charcoal processing are considered to be coconut shells. Several Asian nations have ideal tropical weather suitable for steady coconut production, including the Philippines, Indonesia, Malaysia, India and Sri Lanka, making Asia-Pacific one of the world's primary raw material sources.
COVID-19 Impact on Activated Carbon Market:
With regard to the infectious illnesses, the coronavirus epidemic has generated a huge fear and concern. More and more common individuals and business sectors are adopting innovations that can potentially reduce the spread of the virus outbreak as a preventive preparation. Many consumer electronics & appliances companies invest extensively in their R&D and explore ways to produce electronic devices that can kill harmful airflow bacteria and viruses and are designed for both household and commercial purposes. Many businesses have already established product line-ups claiming to destroy or delete COVID-19. The market for N95 masks, which contain activated carbon to prevent inhalation of the COVID-19 virus, is also very high. This demand for masks has triggered a direct increase in the growth of the market for activated carbon.
Key participants in the activated carbon market include
Donau Carbon GmbH
Activated Carbon Technologies
Calgon Carbon Corporation
Osaka Gas Chemicals Co. Ltd
Jacobi Carbons AB
Oxbow Activated Carbon
Kuraray Co., Ltd
Desotec Activated Carbon
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Activated Carbon Market: Segmentation
For the purpose of this study, Reports and Data has segmented the activated carbon market on the basis of product type, application, end-users, and region:
Product Type Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
Application Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
End-Users Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
Food & Beverages
Regional Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
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