Activated Carbon Market Expected to Reach $8.41 Billion by 2030
Rising demand for air and water purification, industrial applications and stricter regulations supports market growth
The global activated carbon market is projected to grow from USD 4.46 billion in 2023 to USD 8.41 billion by 2030, registering a CAGR of 9.8% during the forecast period. The market covers powdered and granular activated carbon across liquid- and gas-phase applications, various end-use industries and raw materials including coal, coconut, wood and peat.
Growing population levels and improving living standards are contributing to increased demand for clean air and water. This is driving the use of activated carbon in air and water purification applications. Growth in the food and beverage industry, recovery in the automotive sector and stringent government regulations are also supporting market expansion.
Asia Pacific to Record Fastest Growth
Asia Pacific is projected to be the fastest-growing region in the activated carbon market.
Demand across the region is primarily supported by the water treatment industry. Population growth, rising living standards and increasing awareness of environmental pollution are contributing to demand for purified air and water.
The expansion of various industries across the region is also expected to increase the requirement for activated carbon during the forecast period.
Recent Industry Developments
Several companies have undertaken acquisitions, expansions and investments related to water treatment and activated carbon:
- March 2023: Evoqua Water Technologies LLC strengthened its presence in North America through the acquisition of the Texas-based industrial water treatment service business from Kemco Systems.
- June 2022: Albemarle Corporation announced that it is expected to restructure its Bromine and Lithium global business units (GBUs) as part of a new corporate framework aimed at enhancing its ability to meet customer demands and cultivate the necessary talent to thrive in a competitive global landscape.
- August 2022: Ingevity acquired Nexeon Limited to establish its presence in the electric vehicle (EV) market and expand the opportunities of its existing activated carbon business.
- October 2021: Evoqua Water Technologies LLC opened a new Sustainability and Innovation Hub in Pittsburgh, Pennsylvania (US), to carry out cutting-edge technologies for water treatment.
- March 2021: Evoqua Water Technologies LLC announced the expansion of its existing Global Engineering and Technology Center, located in Chennai, India.
- February 2021: Ingevity announced the expansion of an activated carbon manufacturing plant in China.
The report, “Activated Carbon Market by Type (Powdered Activated Carbon, Granular Activated Carbon), Application (Liquid Phase Application, and Gas Phase Application), End-Use Industry, Raw Material (Coal, Coconut, Wood, Peat), and Region – Global Forecast to 2030,” provides market projections across product types, applications, end-use industries, raw materials and regions.