ActivatedCarbon Market: Introduction
Interms of value, the global activated carbon market is anticipated to expand at a CAGR of ~8% from 2020 to 2030 and reach US$ 7.3 Bn by 2030. AsiaPacific dominated the global activated carbon market in terms of volumein 2019.It is estimated to be the leading region of the global activated carbon marketduring the forecast period. The water treatment industry is projected to offerlucrative opportunities for the activated carbon market in the near future.
ActivatedCarbon Market: Major Drivers and Restraints
Therise in usage of activated carbon in the water & wastewater treatmentapplication is expected to drive the global activated carbon market during theforecast period. In the water filtration process, activated carbon is used toremove volatile organic compounds and chlorine from drinking water. It alsohelps remove lead, dissolved carbon, and contaminants. Governments across theworld are spreading awareness about the health risks associated with drinkingimpure water. Countries such as India and China are investing significantly inwater filtration plants. This is estimated to propel the activated carbonmarket during the forecast period.
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Accordingto the World Health Organization (WHO), around 4.2 million peopleacross the world die of air pollution every year. About 91% ofpopulation in the world lives in places where quality of air is not good forhealth. This increases the need for purified air. In turn, this is projected todrive the activated carbon market. Several players have taken strategic initiatives,such as acquisition, in order to expand their activated carbon business, owingto high demand for activated carbon in various industrial applications. This isalso likely to boost the activated carbon market during the forecast period.For instance, in October2018, Cabot Corporation announced that it had acquired NSCC Carbon (Jiangsu) Co., Ltd.from Nippon Steel Carbon Co., Ltd., a subsidiary of Nippon Steel Chemical &Material Co., Ltd. The carbon black manufacturing facilityin Pizhou, Jiangsu Province, China was originally commissioned in 2015. The 50,000 metricton plant is estimated to support Cabot Corporation’s specialty carbons productline in the Purification Solutions segment.
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Activatedcarbon is used in a wide range of applications, including water treatment andair purification. There is a shortage of raw materials, such as coconut shellcharcoal, which are used for the production of activated carbon. Furthermore,ongoing trade conflicts have created a challenging business landscape. Thus,the prices of the raw materials has increased significantly over the last fewyears. Therefore, scarcity of raw material is expected to restrain the globalactivated carbon market during the forecast period.
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ActivatedCarbon Market: Prominent Segments
Interms of value, the coal based segment held a major share of the globalactivated carbon market in 2019. Thistrend is anticipated to continue during the forecast period, due to itsrelatively low cost filter media. Based on form, the powdered segment accountedfor a significant share of the global activated carbon market in 2019. In termsof application, the water & wastewater treatment segment constituted alarge share of more than 30% ofthe global activated carbon market in 2019. Thistrend is estimated to continue during the forecast period. On the other hand,the air purification segment is projected to expand at a rapid pace during theforecast period.
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CompetitionLandscape
Majorglobal manufacturers of activated carbon include Cabot Corporation, KURARAY CO.,LTD, Osaka Gas Chemicals Co., Ltd., HAYCARB (PVT) LTD, and KUREHA CORPORATION.
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