Activated Carbon Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type (Granular/Extruded, Powdered, Honeycombs, Impregnated, and Reactivated) and Application (Gas & Air, Automotive, Catalyst, Chemicals, Food & Beverage, Mining, Pharmaceut

Activated Carbon Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type (Granular/Extruded, Powdered, Honeycombs, Impregnated, and Reactivated) and Application (Gas & Air, Automotive, Catalyst, Chemicals, Food & Beverage, Mining, Pharmaceuticals, Water Treatment, and Others)

The activated carbon market size is expected to grow from US$ 3,845.46 million in 2022 to US$ 6,081.05 million by 2028; it is estimated to record a CAGR of 8.2% from 2023 to 2028.

Based on type, the global activated carbon market is segmented into granular/extruded, powdered, honeycombs, impregnated, and reactivated. The powdered segment held the largest market share in 2022. The granular/extruded segment is estimated to register the highest CAGR in the global activated carbon market during the forecast period. Granular activated carbon is utilized in gas and liquid phases for deodorization applications to eliminate natural organic matter, volatile organic compounds, and contaminants. Granular activated carbon is increasingly used owing to its properties such as structural strength, regeneration characteristics, and clean handling, as well as the feasible recovery of spent activated carbon. The gas & air segment is estimated to register the highest CAGR in the global activated carbon market during the forecast period. Activated carbon is 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.

Based on application, the global activated carbon market is segmented into gas & air, automotive, catalyst, chemicals, food & beverage, mining, pharmaceuticals, water treatment, and others. The water treatment segment held the largest market share in 2022. Activated carbon is extensively used in the tertiary treatment of wastewater and various stages of wastewater treatment. Wastewater is tested and treated for various parameters such as chemical oxygen demand (COD), toxins, total organic carbon, biological oxygen demand (BOD), hydrocarbons, pesticides, cyanides, and the presence of other harmful chemicals. Over the previous years, activated carbon has been widely used in service water treatment, groundwater rehabilitation, and drinking water treatment.

Asia Pacific accounted for the largest portion of the global activated carbon market share in 2022. China and India are major contributors to the growth of the activated carbon market in Asia Pacific. According to the European Chemical Industry Council, China's share of global chemicals 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 chemical production are expected to boost the demand for activated carbon for chemical purification and processing. Moreover, the increasing establishment of water treatment facilities and equipment in China drives the activated carbon market in the country. It is used to adsorb a large amount of small particle-sized compounds such as benzene, toluene, ethyl-benzene, xylene, and organic compounds. Further, in India, the strong growth of the food & beverages, water treatment, air & gas, chemicals, etc. industries is bolstering the activated carbon market growth.

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, and Norit Nederland BV are a few players operating in the global activated carbon market. Market players are focusing on providing high-quality products to fulfill customer demand. They are also adopting strategies such as investments in research and development activities, new product launches, collaborations, and mergers & acquisitions.

The overall global activated carbon market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the activated carbon market.

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