The global activated carbon market size is expected to reach USD 14.66 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 17.5% during the forecast period. Rising consumption of water and air purification in clinker cement industries and coal fired plants is anticipated to drive the demand for powdered and granular form of activated carbon.
Activated carbon has high porous structure and adsorption capacity, hence it is highly consumed in water and air purification process among numerous end-use industries. Applications in removal of toxic gases, acids, metallic particles, and mercury from coal and oil powered plants are expected to fuel the growth of the market. Changing lifestyle and increasing health awareness is expected to further drive the market in the forthcoming years.
In water treatment applications, it is consumed in municipal water treatment, domestic water purification and groundwater remediation. Pharmaceutical industry uses activated carbon as an antidote to poison caused by toxins ingestion. Applications into food and beverage industry includes removal of unwanted odor and color from the consumable products. Increasing environmental pollution due to vehicular emission and industrial gases is projected to drive the demand from air purification segment.
Various regulating authorities have made stringent regulations for environmental pollution control and have promoted activated carbon in water and air treatment plants, which in turn is estimated to propel the activated carbon market over the forecasted period. The European commission regulates water pollution and industrial wastewater discharge. The U.S. Environmental Protection Agency (EPA) governing mercury emission from coal power plants has recommended use of the product for removing chemical impurities. Implementation of these regulations is expected drive the product consumption over the forecasted period.
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Further key findings from the report suggest:
- Air purification segment held the leading market share of over 40% in 2018. Growing awareness regarding health benefits of air filtration coupled with regulations such as the Clean Air Act is further anticipated to drive the growth
- Water and wastewater treatment is expected to expand at an indicated CAGR of a 17.6% from 2019 to 2025. The growth can be attributed to increasing application in municipal plants, ground water remediation, and beverage industry
- Asia Pacific continued to be the dominant region in 2018 as well as accounting for over 40% of the overall market share in the same year. Increasing usage in air and water purification and emergence of novel applications such as pharmaceutical and food and beverage industry in the region is expected to drive the product demand
- Key players operating in the activated carbon market include Kureha Corporation; Carbon Activated Corporation; ADA-ES Inc.; Haycarb PLC; Carbotech; Carbon Resources LLC; Cabot Corporation; MeadWestvaco Corporation; and Calgon Carbon Corporation