The Activated Carbon Market size is estimated at USD 4.08 billion in 2023, and is expected to reach USD 5.45 billion by 2028, growing at a CAGR of 5.95% during the forecast period (2023-2028).
In 2020, the activated carbon market did not face any significant decline. However, the demand was reduced, considering the temporary halt of activities in various end-user industries, such as metal extraction and others. Furthermore, in 2021, the demand for the market studied picked up the pace and is likely to grow at a significant rate in the coming years.
The activated carbon market is partially consolidated, where the top-five players account for a major share of the global market. The major companies in the activated carbon market include (not in any particular order) Kuraray Co. Ltd, Cabot Corporation, Ingevity, Jacobi Carbons Group, and Haycarb (Pvt) Ltd, among other companies.
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