Activated Carbon Market Size to Reach USD 5.98 Billion by 2030; Growing Demand for Water Purification Technologies to Drive Growth: The Brainy Insights
The Brainy Insights
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The Brainy Insights
The Asia Pacific region currently dominates the global market share due to the growing population, which has led to the increase in demand for activated carbon for water treatment and air purification applications across the region
Newark, Aug. 10, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global activated carbon market is expected to grow from USD 3.68 billion in 2021 to USD 5.98 billion by 2030, at a CAGR of 5.56% during the forecast period 2022-2030.
Potable water needs have increased due to the expanding global population, urbanization, and industrialization. The world's freshwater resources are currently insufficient to fulfill the rising water demand. Water has been contaminated and is unfit for drinking due to anthropogenic activity, such as the discharge of industrial effluents into natural water bodies. By utilizing activated carbon, contaminated water can be made fit for drinking by removing undesired foreign particles. It also treats industrial water before it is released into natural water bodies to prevent water contamination. Activated carbon is the best option for water treatment because it is affordable, widely available, easy to use, and environmentally benign, contributing to its growth globally. Air pollution has increased recently as a result of industrialization. Government officials have designed programs to lower air pollution and protect human health. One such initiative has been the increased use of activated carbon for air cleaning at the domestic, commercial, and industrial levels. It is being actively used in the food and beverages industry as well. The increase in applications will present profitable prospects to market participants for 2022-2030. The disruptions in the supply of raw materials will act as a restraint for the market, hampering its growth. Similarly, low-cost alternatives like silica gel and super sand for filtration will challenge the market's growth. New technical breakthroughs and product innovations can help market players overcome these limitations.
Competitive Strategy
To enhance their market position in the global activated carbon market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• By approving the operation of the Miyagi Water and Wastewater Concession Project in July 2021, Veolia advanced the growth of its water business in Japan. With an overall treatment capacity of more than 900,000 m3 per day, this concession contract is for 20 years of O&M and renewal work at eight treatment plants.
According to the world health organization, 844 million people lack basic water drinking facilities globally. A staggering 3.4 million individuals die due to water-related diseases. Most of the deaths occur in children globally. The increase in population and climate change has increased the pressure on already limited & depleting water resources. Water pollution has rendered potable water useless due to the increasing and destructive anthropogenic activities. Therefore, the growing need to provide safe and pure drinking water to the unfortunate 844 million people will augment the growth of the activated carbon market. Another looming crisis facing humanity is the rising number of individuals dying from pulmonary diseases caused by the deteriorating air quality worldwide. Stringent pollution control measures are being implemented at regional, national, and international levels to arrest air pollution and reduce loss of life. The activated carbon market will witness growth with its increasing demand for air purification.
• In 2021, the gas-phase application segment dominated the market with the largest market share of 54% and market revenue of 1.98 billion.
The application segment is divided into gas-phase application and liquid-phase application. In 2021, the gas-phase application segment dominated the market with the largest market share of 54% and market revenue of 1.98 billion.
• Over the forecast period, the granular activated carbon segment will grow at the fastest CAGR of 8.6%.
The product type segment is divided into powdered activated carbon, granular activated carbon, and others. Over the forecast period, the granular activated carbon segment will grow at the fastest CAGR of 8.6%.
• In 2021, the water treatment segment accounted for the largest share of the market, with 45% and a market revenue of 1.65 billion.
The end-user industry segment is divided into water treatment, automotive, air purification, food & beverages, pharmaceuticals & medical, and others. In 2021, the water treatment segment accounted for the largest share of the market, with 45% and a market revenue of 1.65 billion.
Regional Segment Analysis of the Activated Carbon Market
• North America (U.S., Canada, Mexico) • Europe (Germany, France, U.K., Italy, Spain, Rest of Europe) • Asia-Pacific (China, Japan, India, Rest of APAC) • South America (Brazil and the Rest of South America) • The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, the Asia Pacific region emerged as the largest market for the global activated carbon market, with a market share of around 39.6% and 1.45 billion of the market revenue in 2021. The Asia Pacific is expected to be the largest market during the forecast period. The activated carbon market in the Asia Pacific has been expanding rapidly. China dominates the activated carbon market in the Asia Pacific. The increasing government initiatives for wastewater management and water conservation are expected to significantly contribute to the Asia pacific activated carbon market. According to a UNICEF report, around 785 million people do not have access to drinking water, and about 2000 million people drink contaminated water. The scale of the water crisis worldwide will deteriorate further, as half the world population is anticipated to face water scarcity by 2030. This looming global crisis needs urgent attention; the deployment of activated carbon for water treatment is a cost-effective and simple method that can mitigate or minimize water scarcity for the global population.
Key players operating in the global activated carbon market are:
• Cabot Corporation • Kuraray Co. Ltd. • JACOBI CARBONS GROUP • CARBOTECH AC GMBH • Osaka Gas Co. Ltd. • Haycarb PLC • Kureha Corporation • CarbPure Technologies • Boyce Carbon • Donau Chemie AG
This study forecasts global, regional, and country revenue from 2019 to 2030. The Brainy Insights has segmented the global activated carbon market based on the below-mentioned segments:
The global activated carbon market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
