Global Activated Carbon Market Outlook, 2028

Global Activated Carbon Market Outlook, 2028

Activated carbon, commonly referred to as activated charcoal, is employed in many industrial applications, including the reusable recovery of gas and air. Strict emission regulations are the result of growing environmental concerns and awareness. This has led to various manufacturers investing in innovative concepts and created technology for the use of the product in cleaning and air treatment applications, among others. It is being utilised more and more to treat several types of water, including drinking water, service water, groundwater, and wastewater. The product's main function is to adsorb dissolved organic contaminants and remove chemicals that alter flavour and aroma. Cost-effective ways for the purification process have been made possible by the use of the technology known as ""activated carbon injection"" (ACI). Typically, these techniques are utilised with cement kilns and power plants for reducing mercury emissions. Growing pollution on account of emissions caused during product manufacturing has been a significant factor driving the market.

According to the research report, “Global Activated Carbon Market Outlook, 2028”, published by Bonafide research the market is anticipated to reach USD 9.02 Billion by 2028 with the significant CAGR of 6.55% during the forecast period from USD 6.22 Billion in 2022. The increasing demand for mercury control technologies for various industrial air purification applications is expected to increase the demand for activated carbon. Numerous manufacturing sites in the US and Europe will be required to comply with strict new emission regulations for mercury and other dangerous air pollutants in the coming years. These include facilities running big industrial boilers, coal-fired power plants, and cement mills that produce clinker. Specific emission limitations, based on the emission levels already attained by the best-performing facilities, are demanded of sources. Under Maximum Achievable Control Technology (MACT) regulations, the Environmental Protection Agency (EPA) has established certain restrictions.

Regionally, Asia Pacific held a majority of the market in 2022 (more than 50%). Due to the fact that China and India are two of the top consumer nations, particularly for water treatment applications, it is anticipated to maintain its dominance during the projection period. The Asia Pacific region's exponential population growth has raised the need for activated charcoal as a result of the region's rising requirement for clean, safe drinking water. Raw resources are also anticipated to be readily available and inexpensive, supporting the market's expansion. Due to a rise in the demand for applications involving water and air purification, the U.S. dominated the market in North America. The usage of the product to remove pollutants including CO2, mercury vapors, and other harmful gases has increased as a result of government regulations on the disposal of industrial effluent and gas emissions. In Europe, the demand for applications such as water treatment, mercury absorption, and air purification has increased due to strict norms and rules, as well as government attempts to protect the environment. The usage of activated charcoal by car manufacturers to reduce emissions from the vehicle is also regulated by laws. Numerous expansion potential for activated carbon are anticipated as a result in Europe.

The market can be divided into Powdered Activated Carbons (PAC), Granular Activated Carbons (GAC), Extruded or Pelletized Activated Carbon, and Others on the basis of product type. In 2022, powdered activated carbons (PAC), which had a market share of almost 60%, dominated the industry. High adsorption capacity, broad treatment objectives, and the ability to remove a variety of particles are all characteristics of PAC. To address the rising demand for PAC, businesses like Cabot Corporation increased their activated carbon production capacity in Canada in 2014. The company announced an increase in PAC production capacity of 35 million pounds per year in order to meet the industry's growing demand for mercury removal from coal-fired utilities. Given the high demand for the product from numerous end-use industries, including water treatment and air & gas filtration, granulated activated carbon (GAC) is the market segment with the quickest growth rate, with a considerable CAGR of more than 8% throughout the projection period. GAC can effectively remove impurities from liquids, air, and gases because its particle size is significantly greater than that of powder. In the food and beverage business, GAC is used to clean sweets, syrups, drinks, amino acids, and organic acids of contaminants, odors, and colour. In order to remove oil, industrial contaminants, heavy metals, and pesticides from wastewater, it is also employed. Granular form's rising popularity can also be attributed to the market's expansion because to its simplicity in regeneration and reusability.

The market has been divided into coal-based, coconut shell-based, wood-based, and other categories depending on the raw materials used. With a market share of more than 45%, the sector of raw materials derived from coal dominated the global market for activated carbon in 2022. Mesopores and microspores are seen in high surface area coal-based activated carbon. Due to its inexpensive filter media, demand for coal-based activated carbon is higher than for other raw materials. Due to its better adsorption capability and environmental friendliness when compared to activated carbon made from coal, the coconut shell-based segment is expected to develop at a substantial CAGR of 7.73% over the forecast period. The fastest growth rate for wood-based activated carbon is anticipated throughout the projected period as a result of its expanding use in applications like air purification, water treatment, and food and beverage processing.

The market can be divided into the liquid phase and the gas phase according to the phase type. With a market share of more than 50% in 2022, the liquid phase sector was the market leader. Regulations requiring businesses to use environmentally friendly water treatment methods and growing environmental concerns are what are driving the industry. Granular activated carbon is offered by businesses like Evoqua Water Technologies under the brands AquaCarb and Westates for liquid phase applications such as water treatment and more. During the projection period, the gas phase segment is expected to expand at a substantial CAGR of 7.56%. By 2028, the gas phase is anticipated to rule the industry. A crucial aspect that is anticipated is an increase in demand for water treatment techniques as a result of standards and laws requiring enterprises to use these procedures to aid the market. Governments and agencies have issued such standards to safeguard the environment. These initiatives are presumed to aid the market over the forecast period.

The market is divided into segments based on end-use, including water treatment, food and beverage processing, pharmaceutical and medical products, automotive, air purification, and others. More than 28% of the market in 2022 went to the water treatment category, and this is predicted to hold true for the duration of the forecast period. The product is frequently used in water treatment to adsorb harmful chemicals, oils, and poisonous organic compounds. It has a high porosity and provides a bigger surface area for adsorption, which makes it very popular. The global need for water treatment is increasing due to the depletion of natural resources and the rise in pollution, which is driving the expansion of the activated carbon market. Additionally, it is anticipated that rigorous guidelines adopted to clean industrial effluent will support the segment growth The product is used in the food and beverage business to get rid of impurities including heavy metals, poisonous compounds, amino acids, and things that give things their color and smell. It's also used to refine edible oil. Consumers' increasing focus on food safety and quality is anticipated to support market expansion. The product also has uses in the recovery of various solvents, the purification of CO2 and waste gases, and the regulation of mercury vapour emissions, particularly from fossil fuel-based power plants. Activated charcoal is used in the pharmaceutical and medical fields to treat overdoses, poisoning, indigestion, and flatulence. Due to the product's adsorption properties, the market is expected to have strong demand, growing at a CAGR of about 8%. Charcoal is used in other applications such as rare metal recovery, energy storage, and specialty chemicals manufacturing. The current rising demand for energy has led to growth in the manufacturing of energy storage devices, thereby increasing the product consumption in batteries.

Recent Development:
• In November 2022, Cabot Corporation unveiled the LITX® 93 series of conductive carbon additives (CCA) for lithium-ion batteries used in consumer devices, energy storage systems, and electric vehicles (EV). Lithium-ion batteries can have a high energy density and a high rate of charge and discharge due to the form and ability to spread out of the LITX 93 series particles.
• October 2022- Cabot Corporation raised the prices of carbon black products sold by its specialty carbons worldwide, starting with all shipments on or after November 6, 2022, or as per contract. The rise in raw material costs and other production-related costs necessitates this price increase. The increase and timing will vary by product and geography.
• March 2022: Cabot Corporation sold off its activated carbon unit, Norit Activated Carbon, to One Equity Partners. Following the divestiture, Norit Activated Carbon became an independent company serving its customers with a broad portfolio of activated carbon solutions through its 10 production facilities in seven countries.

Covid-19 Impact:
The COVID-19 pandemic had a significant negative influence on the market for activated carbon in 2020, significantly decreasing its CAGR. In 2020, manufacturers and suppliers of activated carbon were significantly impacted by federal and national safety and legal orders. The majority of businesses have been impacted by the COVID-19 pandemic. Mandates for business closures, restricted municipal and state government office activities, and social conventions of distance had an impact on the production of activated carbon in 2020. Additionally, demand for activated carbon decreased across a range of end-use sectors. The pandemic epidemic also resulted in a decline in global investments in the water sector.

Companies Mentioned in this Report:

Considered in this report
• Geography: Global
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• Global Activated Carbon market with its value and forecast along with its segments
• Region-wise Activated Carbon market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Regions & Countries covered in the report:
• North America (United States, Canada, Mexico)
• Europe (Germany, United Kingdom, France, Spain, Italy, Russia)
• Asia-Pacific (China, Japan, India, Australia, South Korea, Indonesia)
• SA (Brazil, Argentina, Colombia)
• MEA (UAE, Saudi Arabia, South Africa)

By Product type:
• Powdered Activated Carbons (PAC)
• Granular Activated Carbons (GAC)
• Extruded or Pelletized Activated Carbon
• Others (Pellet Shaped, Bead Shaped, Impregnated Carbon, Polymer Coated Carbon, etc.)

By Raw Material Type:
• Coal Based
• Coconut Shell Based
• Wood Based
• Others (Petroleum Pitch, etc.)

By Phase Type:
• Liquid Phase
• Gas Phase

By End –user Type:
• Water Treatment
• Food & Beverage Processing
• Pharmaceutical & Medical
• Automotive
• Air Purification
• Others (Gold Treatment, Respirators, Solvency Recover, Mining, Industrial Chemicals, etc.)

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Activated Carbon industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.



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