Albany, NY -- (SBWIRE) -- 12/07/2018 -- The market for activated carbon is feeding off its applications across industrial purposes, medical usages, environmental and agricultural usages, and chemical purification. According to the findings of a business intelligence report by Transparency Market Research (TMR), the global activated carbon market will be worth US$4,180.5 million by the end of 2019, with the demand expanding at a formidable CAGR of 11.9% during the forecast period of 2012 to 2019.
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The analyst of the TMR report has detected that the trend among the major players of the activated carbon market is to leverage recent technological advancements and shift their businesses onto reactivation. Most of the players are indulging into providing these reactivation services customized and on-site of the clients. Reactivation has a strong benefit of reusing products, and this has been luring new players to make the competition intensified at the regional levels. The report identifies Calgon Carbon Corporation, Haycarb PLC, Carbon Resources LLC., Jacobi Carbons AB, Cabot Norit Activated Carbon., Meadwestvaco Corporation, and Siemens Water Technologies Corp. as some of the prominent players currently operating in the activated carbon market.
Currently, Calgon Carbon is ahead of the curve, which is a reflection of the company's advanced purification systems that works for several purposes including wastewater treatment, purification systems, pollution abatement, odor control, and other commercial and industrial manufacturing applications. The company has more than seven decades of experience and offers over hundreds of products for its diverse clients.
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Based on product type, the TMR report segments the activated carbon market into granular, powdered, and others including impregnated and extruded. Application-wise, the market has been bifurcated into gas phase and liquid phase. Prominent end users studied under this report are air purification, automotive, pharmaceutical and medical, food and beverage processing, water treatment, and others such as mining, solvent recovery, and catalysts. Geographically, Asia Pacific has been identified as the region with maximum potential, contributing well over one-third of the total demand currently.
The growing need to have a check over mercury emissions in order to keep pollution under control, stringent regulations for water purification before the supply is made to the citizens, and consistent research and new product developments are some of the key factors driving the activated carbon market. On the other hand, weak economic conditions in a number of underdeveloped countries and scarcity of raw materials and thereby price hikes are a few restraints obstructing the market from attaining greater profitability. However, reactivated carbon is expected to formulate a strong trend in this market.