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 and Region – Global Forecast to 2028″, is approximated to be USD 4.4 billion in 2023, and it is projected to reach USD 7.0 billion by 2028 at a CAGR of 9.5%. Rising population, and improving living standards, lead to an increase in the demand for pure and clean air & water. As a result of this, purification of both air and water rises which drives the market of activated carbon during the forecast period. Apart from this, the growing food & beverages industry, the recovery of the automotive industry, and the presence of stringent government regulations also help in driving the market of activated carbon during the forecast period.
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• 526 Market data Tables
• 46 Figures
• 313 Pages and in-depth TOC on “Activated Carbon Market – Global Forecast to 2028″
Some of the prominent key players are:
· Osaka Gas Co., Ltd. (Japan)
· Cabot Corporation (US)
· Kuraray Co. Ltd. (Japan)
· Haycarb Plc (Sri Lanka)
· Kureha Corporation (Japan)
· BASF SE (Germany)
Opportunities: Recycling of activated carbon
The demand for activated carbon has increased tremendously due to strict regulations concerning air quality maintenance and the increasing number of municipal and industrial wastewater treatment plants. The rising pressure on activated carbon producers regarding the high production cost affects this industry significantly. Hence, activated carbon producers mainly focus on the production of reactivated carbon.
By Application, Gas Phase Application accounted for the largest share in 2022
The activated carbon is used in several gas-phase applications such as automobile, and industrial gases. It is due to its high surface area and porosity, which allows it to effectively adsorb and remove impurities, contaminants, and other unwanted substances from gases. This also helps in controlling the emissions of harmful gases from automobile or industrial applications.
Asia Pacific accounted for the largest share as well as the fastest-growing market for activated carbon market in 2022
Asia Pacific accounts for the largest share in 2022, in this market. This is attributed to the rapid increase in urbanization, and industrialization which demand pure and clean air & water. This drives the demand for activated carbon across the end-use indsutries. Apart from this, the region also witnessed for the growing food & beverages industry, automotive industry, which also drives the demand for activated carbon. In addition to this, the presence of stringent government regulations, also helps in driving the market of activated carbon during the forecast period.
