Albany, NY -- (SBWIRE) -- 02/12/2020 -- The global activated carbon market is expanding at a boisterous pace in recent times. Use of activated carbon in the industrial and commercial sector has created new opportunities in the global activated carbon market. Furthermore, the chemical industry has become the object of discussion and analysis over the past decade. Development of improved standards for chemical manufacturing has played an integral role driving sales across the global activated carbon market. The need to study chemical adsorption reactions has paved way for the inflow of voluminous revenues within the global activated carbon market. It is legit to expect that the global activated carbon market would tread along a lucrative pathway in the years to follow.
Transparency Market Research, in its report, predicts that the global activated carbon market would grow at a stupendous CAGR of 8.0% over the period between 2018 and 2026. The total worth of the activated carbon is projected to touch US$6.0 bn by the end of the forecast period. The growth of this market can be attributed to advancements in chemical manufacturing. Furthermore, the pharmaceutical industry has transcended as an important consumer of activated carbon. The automotive industry is also making gradually leaps in research and analysis. Use of activated carbon in such research initiatives shall propel market demand.
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Advancements in Food Research
Activated coal is manufactured from activated carbon, and the growing applications of the former have aided market growth. The food and beverages industry has also embraced core research initiatives over the past decade. Use of activated carbon for food research has also generated voluminous opportunities for growth within the global market. Food processing has generated key opportunities for growth within the activated carbon market. The development of new lines for food research shall usher an era of advancements in the activated carbon market.
Need for Improved Wastewater Treatment Facilities
Wastewater treatment plants have become a prominent part of the city infrastructure in multiple regions. Rising pollution levels have caused an uptick in the number of treatment plants set up across cities. These treatment plants are not just meant to supply clean and potable water to the population, and may also be used for gas and air purification. Therefore, use of activated carbon across treatment plants shall bring in voluminous revenues within the global market. Furthermore, the value of activated carbon in the mining industry shall also fetch humongous revenues within the global market.
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Some of the prominent vendors operating in the global activated carbon market are Calgon Carbon Corporation, Cabot Corporation, Osaka Gas Chemicals Co., Ltd., ADA Carbon Solutions, Inc., Haycarb PLC, CarboTech AC GmbH, and Oxbow Activated Carbon. It would be worthwhile to witness the business strategies that these market vendors deploy in the times of follow.