Activated Carbon Market to Reach USD 8.41 Billion by 2030, Driven by Water Treatment Demand
Growing environmental regulations, industrial water treatment adoption, and pharmaceutical applications continue to support global market expansion through 2030.
The global activated carbon market is projected to witness steady growth over the coming years, supported by increasing demand for water treatment solutions and stricter environmental regulations. According to the latest market report, the industry is expected to expand from USD 4.46 billion in 2023 to USD 8.41 billion by 2030, registering a CAGR of 9.8% during the forecast period.
Activated Carbon Market Forecast
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," projects that the market will grow from USD 4.46 billion in 2023 to USD 8.41 billion by 2030, at a CAGR of 9.8% during the forecast period.
Stringent government regulations aimed at reducing flue gas emissions have encouraged end-use industries to adopt water treatment technologies, contributing to the growth of the activated carbon market. Demand is also expected to increase with the implementation of mercury control technology in industrial air purification applications.
Europe Expected to Be the Third-Largest Regional Market
Europe is projected to be the third-largest regional market for activated carbon.
The region serves as a manufacturing hub for major pharmaceutical companies. Growth in the pharmaceutical industry is supported by increasing investments in research and development (R&D), higher pharmaceutical spending, and a rapidly aging population. Regulatory oversight by the European Medicines Agency (EMA) requires compliance with strict drug purity and quality standards, supporting demand for activated carbon in pharmaceutical applications.
Recent Developments
- 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 plans to restructure its Bromine and Lithium global business units (GBUs) under a new corporate framework designed to better meet customer requirements and develop talent for a competitive global market.
- August 2022: Ingevity acquired Nexeon Limited to establish its presence in the electric vehicle (EV) market and expand opportunities for its existing activated carbon business.
- October 2021: Evoqua Water Technologies LLC opened a new Sustainability and Innovation Hub in Pittsburgh, Pennsylvania (US), focused on developing advanced water treatment technologies.
- March 2021: Evoqua Water Technologies LLC announced the expansion of its existing Global Engineering and Technology Center in Chennai, India.
- February 2021: Ingevity announced the expansion of an activated carbon manufacturing plant in China.