The activated carbon market size is projected to reach US$ 7.71 billion by 2031 from US$ 4.11 billion in 2023. The market is expected to register a CAGR of 8.2% in 2023–2031.
The growing focus of manufacturers on developing activated carbon from biological sources and agro-wastes, in response to the global focus on sustainable development and circular economies, is likely to remain key activated carbon market trends.
Activated Carbon Market Analysis
The rising adoption of activated carbon for wastewater treatment is fuelling the demand for activated carbon. Over the past two decades, the demand for wastewater treatment has increased due to the trend of recovering water from energy generation processes. Governments of the US, Germany, Thailand, the Philippines, China, and India have commenced programs and initiatives to support wastewater treatment and circular economy through statutory or legislative authorities. According to the US Environmental Protection Agency report published in 2022, ~128.7 billion liters of wastewater is processed in wastewater treatment plants in the US. The report also reveals that 20% of US households use septic tanks and systems for local wastewater treatment.
Activated Carbon Market Overview
Activated carbon is manufactured in distinct forms to serve specific applications of various end use industries such as air & gas purification, wastewater treatment, chemicals, and food & beverages, among others. The available forms of activated carbon include powder, pellets, extrudates, granules, honeycomb-structure, impregnated, and reactivated. Granular form of activated carbon is widely used in water treatment plants, whereas powdered activated carbon is utilized in the food & beverage industry for various applications such as purification and refining. The high adsorptive capacities of activated carbon make it a suitable option for the extraction of gold from the gold-cyanide mixture. Further, the water treatment is one of the major application segments for the activated carbon. Activated carbon is also highly used for industrial air treatment in petrochemical plants, landfill sites, manufacturing operations, and chemical processing facilities to filter hazardous pollutants such as volatile organic compounds.
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Activated Carbon Market: Strategic Insights
Activated Carbon Market
-
CAGR (2023 - 2031)
8.2%
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Market Size 2023
US$ 4.11 Billion
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Market Size 2031
US$ 7.71 Billion
Market Dynamics
GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players
- Osaka Gas Co Ltd
- Haycarb PLC
- Kureha Corp
- Donau Chemie AG
- Activated Carbon Technologies Pty Ltd
- Albemarle Corp
- CPL Activated Carbons
- James Cumming and Sons Pty Ltd
- Ingevity Corp
- Norit Nederland BV.
- KURARAY CO LTD
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Type
- Granular/Extruded
- Powdered
- Honeycombs
- Impregnated
- Reactivated
Application
- Gas & Air
- Automotive
- Catalyst
- Chemicals
- Food & Beverage
- Mining
- Pharmaceuticals
- Water Treatment
- Others
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Activated Carbon Market: Strategic Insights
-
CAGR (2023 - 2031)8.2% -
Market Size 2023
US$ 4.11 Billion -
Market Size 2031
US$ 7.71 Billion
Market Dynamics
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
Key Players
- Osaka Gas Co Ltd
- Haycarb PLC
- Kureha Corp
- Donau Chemie AG
- Activated Carbon Technologies Pty Ltd
- Albemarle Corp
- CPL Activated Carbons
- James Cumming and Sons Pty Ltd
- Ingevity Corp
- Norit Nederland BV.
- KURARAY CO LTD
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Type - Granular/Extruded
- Powdered
- Honeycombs
- Impregnated
- Reactivated
Application - Gas & Air
- Automotive
- Catalyst
- Chemicals
- Food & Beverage
- Mining
- Pharmaceuticals
- Water Treatment
- Others
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Activated Carbon Market Drivers and Opportunities
Increasing Regulations on Mercury Emissions
Mercury emissions are hazardous to the environment & human health and are released from coal-fired power plants. Many countries have set regulations on the amounts of toxins released from these power plants. Owing to the Global Mercury Partnership, regulations and policies in different countries have been intensified. Advanced control technologies, including hardware and software, are applied to reduce mercury emissions. Activated carbon is one of the most prominent parts of hardware used in these technologies to filter air. Moreover, impregnated activated carbon has also been developed by the addition of other materials, such as sulfur, to control mercury emissions efficiently. Therefore, the growing demand for air purification is driving the demand for activated carbon in the world.
Technological Advancement
Several research studies have been conducted worldwide to engineer efficient production processes for activated carbon and develop high-performance activated carbon. Scientists are focused on developing cost-effective, optimized, and efficient technologies to produce activated carbon. In 2021, a research team from Central South University, Changsha, China, with the support of the National Natural Science Foundation of China, proposed a research plan for the one-step preparation of activated carbon from carbon-based feedstocks such as low-grade coal and oxidized pellets.
Activated Carbon Market Report Segmentation Analysis
Key segments that contributed to the derivation of the activated carbon market analysis are type and application.
- Based on type, the activated carbon market is segmented into granular/extruded, powdered, honeycombs, impregnated, and reactivated. The powdered segment held a larger market share in 2023.
- In terms of application, the market is segmented into gas & air, automotive, catalyst, chemicals, food & beverage, mining, pharmaceuticals, water treatment, and others. The water treatment segment dominated the market in 2023.
Activated Carbon Market Share Analysis by Geography
The geographic scope of the activated carbon market report is mainly divided into six regions: North America, Western Europe, Eastern Europe, Asia Pacific, Middle East & Africa, and South & Central America.
Asia Pacific has dominated the activated carbon market. According to the European Chemical Industry Council, China's share of global chemicals market sales increased to 43.0% in 2021, up from 28.3% reported in 2011. An increase in the requirement for various chemicals and a subsequent rise in production is expected to boost the demand for activated carbon for chemical purification and processing. Moreover, the increasing establishment of water treatment facilities and equipment drives the activated carbon market. North America is anticipated to grow with the highest CAGR in the coming years.
Activated Carbon Market News and Recent Developments
The activated carbon market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for speech and language disorders and strategies:
- Ingevity Corporation (NYSE: NGVT) has expanded its activated carbon production capacity following significant debottlenecking and equipment upgrades completed and verified in late December at its facility in Zhuhai, China. The plant upgrades have effectively increased its capacity by an additional 15% to 20%, helping Ingevity meet the high global demand for its premium, high-capacity pelletized carbon products, (Source: Ingevity /Press Release/ 2021)
- Calgon Carbon Corporation today announced that it intends to expand capacity at its Pearlington, Mississippi plant by adding a second virgin activated carbon production line. The expansion is expected to add 38 jobs at the plant when complete. The estimated investment in the additional production line will be $185 million. When completed, Calgon Carbon’s virgin granular activated carbon capacity will exceed 200 million pounds per year. (Source: Calgon Carbon Corporation /Press Release/ 2020)
Activated Carbon Market Report Coverage and Deliverables
The “Activated Carbon Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Activated Carbon Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 4.11 Billion |
| Market Size by 2031 | US$ 7.71 Billion |
| Global CAGR (2023 - 2031) | 8.2% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, Belgium, Finland, France, Germany, India, Indonesia, Ireland, Italy, Luxembourg, Malaysia, Netherlands, New Zealand, Norway, Philippines, Poland, Portugal, Spain, Sweden, Thailand, Turkey, United Kingdom, Vietnam
- Osaka Gas Co Ltd
- Haycarb PLC
- Kureha Corp
- Donau Chemie AG
- Activated Carbon Technologies Pty Ltd
- Albemarle Corp
- CPL Activated Carbons
- James Cumming and Sons Pty Ltd
- Ingevity Corp
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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