Europe Activated Carbon Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

Europe Activated Carbon Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The Europe Activated Carbon Market size is expected to grow from USD 4.08 billion in 2023 to USD 5.39 billion by 2028, at a CAGR of 5.73% during the forecast period (2023-2028).

The COVID-19 pandemic negatively impacted the activated carbon market globally as end-user industries were significantly affected. However, the activated carbon market recovered from the pandemic and grew significantly.

Key Highlights

• Over the short term, augmenting prominence for air pollution control (especially mercury removal) is expected to drive the market.
• Conversely, the threat of substitutes, like silica gel, and the development of better alternatives are expected to hinder the market growth.
• Emerging applications in the medical and pharmaceutical sectors are anticipated to create future opportunities.
• Germany held the greatest market share and is anticipated to dominate throughout the forecast period.

Europe Activated Carbon Market Trends

Medicine Segment to Drive the Market Growth

Activated carbon is used in hemodialysis and pharmaceutical applications. It is used to remove contaminants, like chlorine and chloramine, which can harm the patients, from the water used for dialysis.

Activated charcoal is commonly taken by mouth to treat poisonings. It is also used for intestinal gas, high cholesterol, hangovers, upset stomach, and bile flow problems during pregnancy.

In pharmaceutical applications, activated carbon removes color and impurities from the intermediates and the final products. It purifies and recovers vitamins, steroids, painkillers, active pharmaceutical ingredients, antibiotics, and other pharmaceutical products.

Europe's pharmaceutical manufacturing industry is robust, with several global market leaders. Germany, Switzerland, the United Kingdom, France, Italy, and Spain are among Europe's leading pharmaceutical producers. According to Eurostat, Europe is the world's third-largest pharmaceutical producer, with exports of USD 266.91 billion in 2021, up 14.43% from 2020.

The growing demand for pharmaceutical products and medical applications of activated carbon is expected to drive the market during the forecast period.

Germany to Dominate the Market

The German water treatment technology market is the largest in Europe and is growing considerably. The increasing water treatment activities, primarily in the country's northern region, are boosting the demand for activated carbon. The country’s water supply and wastewater treatment sectors account for about ~EUR 22 billion annually.

The country is shifting toward green energy and is cutting down on nuclear, oil-fired, coal-fired, and natural gas-fired power plants. The country announced its decision to start decommissioning all the nation’s 17 atomic energy facilities by the end of 2022.

Activated carbon is typically employed in producing lithium-ion batteries, which are utilized in various electronic devices, including electric vehicles. Activated carbon can be used as an electrode material in a battery to aid energy storage. Activated carbon, when used in the battery's anode, provides a large surface area for lithium ions to attach to, thereby increasing the battery's energy storage capacity. According to Statistisches Bundesamt, approximately 500,000 electric vehicles worth 24.2 billion euros were exported from Germany in 2022.

According to the UN Comtrade database, Germany's exports of pharmaceuticals reached USD 126 billion by the end of 2022. This represents a 5.6% increase from 2021 when exports totaled USD 119.27 billion. Germany is the second-largest pharmaceutical exporter in Europe after the United Kingdom. The United States is the main non-European destination for the preponderance of German pharmaceutical exports.

Based on the aspects above, Germany is expected to dominate the Europe region in the market studied.

Europe Activated Carbon Industry Overview

The European Activated Carbon market is consolidated, with the top seven players accounting for around 70% of the market share. Major players in the market include Kuraray Co. Ltd, Cabot Corporation, Jacobi Carbons Ab (Osaka Gas Chemicals Co. Ltd), Ingevity, and Desotec, among others.

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• The market estimate (ME) sheet in Excel format
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