Activated Carbon Market Worth $8.9 Billion by 2026 - Osaka Gas Co., Ltd. (Japan), Cabot Corporation (US) and Kuraray Co. Ltd. (Japan) Are the Leading Players
The demand for activated carbon is anticipated to grow due to the use of mercury control technology for industrial air purification applications.
Northbrook, IL 60062 -- (SBWire) -- 09/07/2022 --The report "Activated Carbon Market by Type, Application (Liquid Phase (Water Treatment, Foods & Beverages, Pharmaceutical & Medical), Gas Phase (Industrial, Automotive), and Region (APAC, North America, Europe, Middle East, South America) - Global Forecast to 2026" The global activated carbon market is estimated to be USD 5.7 billion in 2021 and is projected to reach USD 8.9 billion by 2026, at a CAGR of 9.3% from 2021 to 2026. The driving factors for the activated carbon market is its applications in water treatment and air purification along with stringent government regulations regarding the removal of mercury from power plants have led to increasing acceptance of activated carbon products.
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APAC is the largest market for activated carbon
APAC led the global activated carbon market, accounting for a share of 39.3% in 2020. APAC is segmented into China, Japan, India, Indonesia, South Korea, and the Rest of APAC. Factors such as ready availability of raw materials and manpower, along with sophisticated technologies and innovations, have driven economic growth in the APAC region. According to the World Bank, the two economic giants of the APAC region, China and Japan, were the world's second and third-largest economies as of 2020.
The activated carbon market comprises major solution providers, Osaka Gas Co., Ltd. (Japan), Cabot Corporation (US), Kuraray Co. Ltd. (Japan), Haycarb Plc (Sri Lanka), and Kureha Corporation (Japan) among others.
Osaka Gas Co., Ltd. is a Japan-based producer of activated carbon. The company mainly operates through four business segments, namely, Gas; LPG, Electricity & other Energies; Life & Business Solutions; and International Energies. It produces activated carbon under the life & business solutions segment. The company produces activated carbon through its various subsidiaries, namely, Minabe Chemical Industries, Ltd. (Japan), Hakata Chemical Co., Ltd. (Japan), Davao Central Chemical Corporation (Japan), Century Chemical Works Sdn. Bhd. (Malaysia), and Jacobi Carbons AB (Sweden).
Cabot Corporation produces and sells specialty chemicals and performance materials. The company offers specialty compounds, rubber and specialty grade carbon blacks, fine cesium chemicals, fumed metal oxides, inkjet colorants, cesium formate drilling fluids, activated carbons, and aerogel. It offers activated carbon to various customers, including food and beverage processors, coal-fired utilities, pharmaceutical companies, water treatment plants and catalyst producers, and cesium formate products to oil and gas operating companies. The company sells and distributes its products primarily through distributors and sales representatives. It has business presence across the Americas, Europe, the Middle East, Africa, and APAC.
Kuraray Co., Ltd. is a producer of functional resins, high-performance materials, fibers & textiles, and medical products. The company was established in 1926 to produce synthetic rayon. It operates under six business segments, namely, vinyl acetate, functional materials, isoprene, fibers & textiles, trading, and others. It produces activated carbon under the others segment. The company operates through Kuraray Chemical Co., Ltd. (Japan) to produce activated carbon. It also produces activated carbon through its subsidiaries Cenapro Chemical Corporation (China) and Kuraray Chemical (Ningxia) Environmental Industry Co., Ltd. (Philippines). Apart from production activities, the company is also engaged in designing, construction, and maintenance of production facilities of chemicals, food processing, electronic materials.
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