Activated Carbon Market to Reach $8.41B by 2030
The latest report, “Activated Carbon Market by Type (Powdered Activated Carbon, Granular Activated Carbon), Application (Liquid and Gas Phase), End-Use Industry, Raw Material (Coal, Coconut, Wood, Peat), and Region – Global Forecast to 2030,” projects significant growth in the global activated carbon market. Valued at USD 4.46 billion in 2023, the market is expected to reach USD 8.41 billion by 2030, registering a robust CAGR of 9.8% during the forecast period.
The rising global population and improving living standards are fueling the demand for clean air and water, leading to increased use of activated carbon in air purification systems and municipal and industrial water treatment plants.
Key Market Dynamics:
- Drivers: Growth in automotive sales worldwide has heightened the need to control vehicular emissions, increasing demand for activated carbon filters.
- Restraints: Limited availability of raw materials is driving up production costs, impacting the market.
- Opportunities: Reactivated carbon offers cost-effective and environmentally friendly alternatives, presenting lucrative opportunities for producers.
- Challenges: Slow economic growth in some regions could dampen industrial output and affect demand.
Reactivated carbon has emerged as a major focus area for producers, as it provides a more economical and sustainable option. Its cost is approximately 50% lower than fresh granular activated carbon and allows recycling of spent carbon, reducing disposal costs and environmental liabilities. Municipal water treatment facilities in Europe are increasingly adopting reactivated carbon to meet environmental regulations cost-effectively.
The report highlights leading market players including Diagas Group (Japan), Kuraray Co. Ltd. (Japan), Haycarb PLC (Sri Lanka), Norit (Netherlands), Kureha Corporation (Japan), and BASF SE (Germany), among others.