Pune, India, July 20, 2022 (GLOBE NEWSWIRE) -- The global activated carbon market size is projected to reach USD 4.50 billion by 2028, exhibiting a CAGR of 5.4% during the forecast period. Increasing product applications across diverse industry verticals have opened avenues for market growth. According to a report published by Fortune Business Insights, titled "Activated Carbon Market, 2021-2028," the market was worth USD 2.96 billion in 2020.
The Report Lists the Key Companies in the Market:
- Osaka Gas Chemicals Co., Ltd. (Japan)
- Donau Carbon GmbH (Germany)
- Cabot Corporation (U.S.)
- PURAGEN ACTIVATED CARBONS (U.S.)
- CARBOTECH AC GMBH (Germany)
- Kuraray Co., Ltd. (Japan)
- KUREHA CORPORATION (Japan)
- Activated Carbon Technologies (Australia)
- Silcarbon Aktivkohle GmbH (Germany)
- Ingevity (U.S.)
- Iluka Resources (Australia)
- James Cumming & Sons (Australia)
- Universal Carbons (India)
- Carbon Activated Corporation (U.S.)
- Troxnox (U.S.)
- Active Char Products (India)
- Adsorbent Carbons (India)
- Genuine Shell Carb (India)
- Indo-German Carbons (India)
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COVID-19 Impact:
Adverse Impact of Coronavirus Outbreak on Activated Carbon Businesses
The recent coronavirus outbreak has had an adverse impact on several industrial sectors across the world. Accounting for the rapid spread of the disease, several countries have taken strict measures intending to limit the adverse effects. The measures taken to curb the spread of the disease include lockdowns as well as social distancing norms. These activities, however, had an adverse impact on several businesses across the world. Due to shutdowns in manufacturing and processing units, several SMEs in the market have been forced to shut down their businesses permanently. It is seen that the vast majority of the companies that have been able to sustain the pandemic are large-scale companies.
What Does the Report Highlights?
The study provides a detailed analysis of the industry, focusing on the variables that drive, repel, obstruct, and provide market possibilities. It also clarifies the segmentation table, the list of leading categories with statistics, and the variables that influence them. The competitive landscape of the market, the list of prominent players, and the major steps are also included in the study. Besides this, the report highlights the major industry developments of the market, current activated carbon market trends, and other interesting insights into the market.
Market Segments:
By Type
- Powdered
- Granular
- Others
By Application
- Water Treatment
- Air & Gas Purification
- Food & Beverage
- Others
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Driving Factor:
High Demand for Activated Carbon in Water Treatment Application to Succor Growth
With the growing demand for clean and safe drinking water, product demand is rising. The activated carbon market growth may be due to the product's characteristics, including a large surface area accessible for adsorption, making it easy to remove contaminants such as oils, microorganisms, odor and taste-inducing compounds, and chemicals. Carbon Activated Corp., for example, offers industrial solutions as well as municipal groundwater filter systems in the United States and VOC/siloxane removal systems in biogas engines throughout Europe. As the world's population grows exponentially, so does consumer demand for freshwater, resulting in more significant water purifying usage.
Report Scope & Segmentation
| Report Attribute | Details |
| Market size value in 2021 | USD 7,616 million |
| Revenue forecast in 2028 | USD 15552.3 million |
| Growth Rate | CAGR of almost 10.6% 2021-2028 |
| Base Year | 2020 |
| Historic Years | 2018 - 2019 |
| Forecast Years | 2021- 2028 |
| Segments Covered | By End-Use, By Application |
| Forecast Units | Value (USD Billion), and Volume (Units) |
| Quantitative Units | Revenue in USD million/billion and CAGR from 2021 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, South America, and Middle East & Africa, and Rest of World |
| Countries Covered | Unites States, Canada, Mexico, Unites Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Number of Companies Covered | Matrìca S.p.A. (Italy) NatureWorks LLC (U.S.) PTT MCC Biochem Co., Ltd. (Thailand) Novamont S.p.A. (Italy) Toray Industries, Inc. (Japan) Kaneka Takasago (Japan) Taghleef Industries (U.A.E.) LyondellBasell Industries Holdings B.V. (Netherlands) |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
Regional Insights:
Asia Pacific to Emerge Dominant; Rising Population will Contribute to Increasing Product Demand
The report analyses the ongoing market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the activated carbon market in Asia Pacific is projected to emerge dominant in the coming years. The rising demand for this type of carbon in densely populated countries such as India and China have given the platform for regional and global companies. Although these two countries are not the largest producers of the product, they certainly are the largest consumers of activated charcoal across the globe. The increasing use of the products in specialty chemicals and cosmetic products has proven beneficial for the companies in this sector. As of 2020, the market in Asia Pacific was worth USD 1.24 billion, and this value is projected to rise at a considerable pace in the coming years.
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Competitive Landscape:
Company Mergers and Acquisitions are an Increasing Trend Among Major Companies across the world
The report encompasses several factors that have contributed to the growth of the overall market in recent years. It is observed that companies across all categories are focusing on mergers and acquisitions with regard to the recent success that this strategy has brought for numerous businesses. The rising number of company mergers and acquisitions will set the platform for rapid market growth. In September 2019, Oxbow Activated Carbon announced that a large-scale European firm had acquired it. The latter will look to build on its existing portfolio of activated carbon derivatives, along with its vast experience on the global stage. The company will build on its 15-year experience through this acquisition. Such large scale company mergers and acquisitions and collaborations will bode well for the growth of the overall market in the coming years.
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Market Trends in the Global Market
- Key Developments: Mergers, Acquisition, Partnership, etc. .
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Qualitative Insights Impact of COVID 19 on Global Activated Carbon Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Global Activated Carbon Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type
- Powdered
- Granular
- Others
- By Application
- Water Treatment
- Air & Gas Purification
- Food & Beverage
- Others
- By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- By Type
TOC Continued…!
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Notable Development:
November 2020: Cabot Corporation introduced a unique styrene acrylonitrile-based black masterbatch named PLASBLAK XP6801D. This formulation will cater to the needs of the styrenics market. This new product has excellent mechanical properties, UV resistance, and color performance at a lower concentration. Further, it delivers equal performance with around 50% less material, reducing transport logistics, handling, and other transportation-related GHG emissions.
June 2020: Kuraray Co., Ltd. announced that it will be expanding Calgon Carbon Corporation. The latter is Kuraray's U.S.-based subsidiary, and this decision is in response to the company's recent efforts towards increasing global demand for activated charcoal.
Read Related Insights:
Water Treatment Chemicals Market Size, Share & Industry Analysis and Regional Forecast, 2022-2029
Wood Activated Carbon Market Size, Share & Industry Analysis and Regional Forecast 2022-2029
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