The Activated Carbon Market was valued at USD 3.82 billion in 2023 and is supposed to reach USD 5.17 billion by 2031. It is expected to grow at a CAGR of 3.85% over the forecast period 2024-2031.
The activated carbon market is experiencing significant growth driven by several key factors. Growing concerns about water and air purification, particularly in industrial settings, coupled with strict environmental regulations worldwide, have propelled the demand for activated carbon. Because the product is porous, it can absorb different substances from liquids and gases. It is used to remove toxic gases and elements from industrial waste effluents, flue gas, natural gas, and other sources. Additionally, the growing emphasis on sustainable practices and the adoption of eco-friendly alternatives contribute to the market's expansion as activated carbon is known for its effectiveness and environmentally friendly nature. Moreover, technological advancements leading to the development of novel activated carbon products with enhanced adsorption capacities and cost-effectiveness are expected to drive market growth further.
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Drivers:
Increasing adoption of activated carbon in wastewater treatment application
Rising demand for clean water and air
Growing demand for clean water and air is the driving factor for the activated carbon market due to its exceptional adsorption capabilities. Activated carbon efficiently removes impurities, pollutants, and contaminants from water and air, making them safer and healthier for consumption and breathing. As environmental concerns rise and regulations become stricter, the need for effective purification solutions like activated carbon continues to escalate, propelling the market growth.
Restraints:
Availability of cheaper alternatives
Fluctuating prices due to a shortage of raw material
Opportunity:
Growing awareness about the benefits of activated carbon in various industries
Rising product popularity in smart electronics
Rising product popularity in smart electronics is an opportunity for the activated carbon market due to its utilization in various electronic devices for odor control and air purification. Activated carbon filters effectively trap and remove volatile organic compounds (VOCs) and other harmful substances, enhancing indoor air quality. With the increasing demand for smart devices and IoT-enabled gadgets, the incorporation of activated carbon filters presents a promising avenue to address consumer concerns regarding air purity and health.
Challenge:
Competition from other filtration technologies
Impact of Russia-Ukraine War:
Russia was neither a major exporter nor an importer of activated carbon. However, the war can cause disruptions in the global supply chain due to trade restrictions and sanctions affecting the movement of materials or finished products. Border closures or logistical challenges make it harder to get raw materials or finished activated carbon to manufacturers or end-users. The economic uncertainty caused by the war might lead to people spending less and companies delaying investments, both of which could dampen demand for activated carbon.
Impact of Economic Downturn:
Economic downturn reduces demand for the activated carbon market. Industries that heavily rely on activated carbon for purification, like chemicals, food & beverage, and pharmaceuticals, tend to cut back on production during these times. This can lead to a lower demand for activated carbon. Furthermore, economic uncertainty leads companies to tighten their belts and delay investments in new equipment or infrastructure. This can put pressure on the demand for activated carbon used in pollution control systems and water treatment plants across various sectors
Market Segment:
By Type
Powdered Activated Carbon
Granulated Activated Carbon
Others
Powdered Activated Carbon led the type segment of the activated carbon market with a revenue share of more than 60% in 2023 because of its versatility and widespread application across various industries. Its fine particle size allows for efficient adsorption of contaminants in liquid and gas phases. Moreover, powdered activated carbon is cost-effective and easily adaptable to existing filtration systems, making it a preferred choice for water and air purification processes in industries such as water treatment, food and beverage, and pharmaceuticals.
By Raw Material
Coal
Wood
Coconut
Peat
Others
By Application
Liquid Phase Application
Gas Phase Application
Gas Phase Application dominated the application segment of the Activated carbon market with a revenue share of more than 50% in 2023 due to its extensive use in air purification systems across industries. Activated carbon effectively removes volatile organic compounds (VOCs), odors, and other airborne contaminants, making it indispensable for improving indoor air quality in commercial, industrial, and residential settings. Additionally, stringent regulations regarding emissions control and the growing awareness of health risks associated with air pollution have further boosted the demand for activated carbon in gas phase applications.
By End-Use Industry
Water Treatment
Pharmaceutical & Medical
Automotive
Food & Beverage Processing
Air Purification
Others
By End-use Industry, water treatment held the largest activated carbon market share of about 41.5% in 2023. This is due to the crucial role activated carbon plays in purifying water. Activated carbon effectively removes organic contaminants, chlorine, and other impurities, improving the taste, odor, and overall quality of water. With increasing concerns over water pollution and the need for safe drinking water worldwide, the demand for activated carbon in water treatment processes continues to grow significantly, driving its dominance in this segment.
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Asia Pacific dominated the Activated Carbon Market with the highest revenue share of about 45.6% in 2023. Growing industrialization, particularly in countries like China and India, has led to increased demand for activated carbon in water treatment, air purification, and industrial processes. Additionally, stringent environmental regulations and growing awareness of pollution-related health risks have propelled the adoption of activated carbon across various industries, further driving market growth in the Asia Pacific region. Rising consumer awareness regarding the importance of clean water and air, coupled with the growing disposable income in emerging economies, fuels the demand for activated carbon-based products and solutions
North America is the second largest region in the Activated Carbon Market during the forecast period. Stringent environmental regulations and heightened awareness of pollution control drive the demand for activated carbon across industries such as water treatment, air purification, and gas emissions control. Additionally, technological advancements and innovation in activated carbon products cater to the evolving needs of various end-use sectors, further propelling market growth in the region. Moreover, the presence of key market players and significant investments in research and development contribute to the robustness of the activated carbon market in North America.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
The major key players are Oxbow Activated Carbon LLC., Boyce Carbon, CarbPure Technologies, Cabot Corporation, Osaka Gas Chemical Co. Ltd., Calgon Carbon Corporation, Evoqua Water Technologies LLC, Siemens Water Technologies Corp., Carbon Resources LLC, Kuraray Co. Ltd, Carbo Tech AC GmbH, Silcarbon Aktivkohle GmbH, Jacobi Carbons AB, and other key players mentioned in the final report.
Recent Development:
In October 2023, Calgon Carbon Corporation, a subsidiary of Kuraray Co., Ltd., completed a capacity expansion at its Pearlington, Mississippi site. The expansion project involved the installation of a second production line for virgin activated carbon, resulting in a substantial boost in production capacity. As the world's largest manufacturer of activated carbon and reactivation services, Calgon Carbon will now produce over 200 million pounds of virgin activated carbon per year.
In February 2023, Evoqua Water Technologies, a leader in mission-critical water treatment solutions, announced a definitive agreement to divest its carbon reactivation and slurry operations to DESOTEC, the European market leader in industrial mobile filtration solutions using activated carbon technology.
In October 2022, Kuraray Co., Ltd. announced that Chemviron S.A., the European base of its U.S.-based subsidiary Calgon Carbon Corporation, completed the expansion and testing of reactivated carbon production facilities at its Feluy Plant and has begun full-scale operations.
In March 2021, Cabot Corporation launched the ENERMAX™ 6 carbon nanotube (CNT) series. These products are the latest development in high-performance CNTs, with a high aspect ratio making them the most conductive multi-walled CNT product in Cabot's portfolio.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 3.82 Billion |
| Market Size by 2031 | US$ 5.17 Billion |
| CAGR | CAGR of 3.85% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Powdered Activated Carbon, Granulated Activated Carbon, and Others) • By Raw Material (Coal, Wood, Coconut, Peat, and Others) • By Application (Liquid Phase Application and Gas Phase Application) • By End-Use Industry (Water Treatment, Pharmaceutical & Medical, Automotive, Food & Beverage Processing, Air Purification, and Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | Oxbow Activated Carbon LLC., Boyce Carbon, CarbPure Technologies, Cabot Corporation, Osaka Gas Chemical Co. Ltd., Calgon Carbon Corporation, Evoqua Water Technologies LLC, Siemens Water Technologies Corp., Carbon Resources LLC, Kuraray Co. Ltd, Carbo Tech AC GmbH, Silcarbon Aktivkohle GmbH, Jacobi Carbons AB |
| DRIVERS | • Increasing adoption of activated carbon in water treatment application
• Rising demand for clean water and air |
| Restraints | • Availability of cheaper alternatives
• Fluctuating prices due to a shortage of raw material |
Ans: The Activated Carbon Market was valued at USD 3.82 billion in 2023.
Ans: The expected CAGR of the global Activated Carbon Market during the forecast period is 3.85%.
Ans: Increasing demand for clean water and air, stringent environmental regulations, and growing awareness about the benefits of activated carbon in various industries drive the growth of the activated carbon market.
Ans: The factors that restrict the growth of the activated carbon market are high production costs, availability of cheaper alternatives, and fluctuating raw material prices.
Ans: China led the Activated Carbon Market in the Asia Pacific region with the highest revenue share in 2023.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Average Selling Price
9.1 North America
9.2 Europe
9.3 Asia Pacific
9.4 Latin America
9.5 Middle East & Africa
10. Activated Carbon Market, By Type
10.1 Introduction
10.2 Trend Analysis
10.3 Powdered Activated Carbon
10.4 Granulated Activated Carbon
10.5 Others
11. Activated Carbon Market, By Raw Material
11.1 Introduction
11.2 Trend Analysis
11.3 Coal
11.4 Wood
11.5 Coconut
11.6 Peat
11.7 Others
12. Activated Carbon Market, By Application
12.1 Introduction
12.2 Trend Analysis
12.3 Liquid Phase Application
12.4 Gas Phase Application
13. Activated Carbon Market, By End-Use Industry
13.1 Introduction
13.2 Trend Analysis
13.3 Water Treatment
13.4 Pharmaceutical & Medical
13.5 Automotive
13.6 Food & Beverage Processing
13.7 Air Purification
13.8 Others
14. Regional Analysis
14.1 Introduction
14.2 North America
14.2.1 USA
14.2.2 Canada
14.2.3 Mexico
14.3 Europe
14.3.1 Eastern Europe
14.3.1.1 Poland
14.3.1.2 Romania
14.3.1.3 Hungary
14.3.1.4 Turkey
14.3.1.5 Rest of Eastern Europe
14.3.2 Western Europe
14.3.2.1 Germany
14.3.2.2 France
14.3.2.3 UK
14.3.2.4 Italy
14.3.2.5 Spain
14.3.2.6 Netherlands
14.3.2.7 Switzerland
14.3.2.8 Austria
14.3.2.9 Rest of Western Europe
14.4 Asia-Pacific
14.4.1 China
14.4.2 India
14.4.3 Japan
14.4.4 South Korea
14.4.5 Vietnam
14.4.6 Singapore
14.4.7 Australia
14.4.8 Rest of Asia Pacific
14.5 The Middle East & Africa
14.5.1 Middle East
14.5.1.1 UAE
14.5.1.2 Egypt
14.5.1.3 Saudi Arabia
14.5.1.4 Qatar
14.5.1.5 Rest of the Middle East
14.5.2 Africa
14.5.2.1 Nigeria
14.5.2.2 South Africa
14.5.2.3 Rest of Africa
14.6 Latin America
14.6.1 Brazil
14.6.2 Argentina
14.6.3 Colombia
14.6.4 Rest of Latin America
15. Company Profiles
15.1 Oxbow Activated Carbon LLC
15.1.1 Company Overview
15.1.2 Financials
15.1.3 Products/ Services Offered
15.1.4 SWOT Analysis
15.1.5 The SNS View
15.2 Boyce Carbon
15.2.1 Company Overview
15.2.2 Financials
15.2.3 Products/ Services Offered
15.2.4 SWOT Analysis
15.2.5 The SNS View
15.3 CarbPure Technologies
15.3.1 Company Overview
15.3.2 Financials
15.3.3 Products/ Services Offered
15.3.4 SWOT Analysis
15.3.5 The SNS View
15.4 Cabot Corporation
15.4 Company Overview
15.4.2 Financials
15.4.3 Products/ Services Offered
15.4.4 SWOT Analysis
15.4.5 The SNS View
15.5 Osaka Gas Chemical Co. Ltd.
15.5.1 Company Overview
15.5.2 Financials
15.5.3 Products/ Services Offered
15.5.4 SWOT Analysis
15.5.5 The SNS View
15.6 Calgon Carbon Corporation
15.6.1 Company Overview
15.6.2 Financials
15.6.3 Products/ Services Offered
15.6.4 SWOT Analysis
15.6.5 The SNS View
15.7 Evoqua Water Technologies LLC
15.7.1 Company Overview
15.7.2 Financials
15.7.3 Products/ Services Offered
15.7.4 SWOT Analysis
15.7.5 The SNS View
15.8 Siemens Water Technologies Corp.
15.8.1 Company Overview
15.8.2 Financials
15.8.3 Products/ Services Offered
15.8.4 SWOT Analysis
15.8.5 The SNS View
15.9 Carbon Resources LLC
15.9.1 Company Overview
15.9.2 Financials
15.9.3 Products/ Services Offered
15.9.4 SWOT Analysis
15.9.5 The SNS View
15.10 Kuraray Co. Ltd.
15.10.1 Company Overview
15.10.2 Financials
15.10.3 Products/ Services Offered
15.10.4 SWOT Analysis
15.10.5 The SNS View
15.11 Carbo Tech AC GmbH
15.11.1 Company Overview
15.11.2 Financials
15.11.3 Products/ Services Offered
15.11.4 SWOT Analysis
15.11.5 The SNS View
15.12 Silcarbon Aktivkohle GmbH
15.12.1 Company Overview
15.12.2 Financials
15.12.3 Products/ Services Offered
15.12.4 SWOT Analysis
15.12.5 The SNS View
15.13 Jacobi Carbons AB
15.13.1 Company Overview
15.13.2 Financials
15.13.3 Products/ Services Offered
15.13.4 SWOT Analysis
15.13.5 The SNS View
16. Competitive Landscape
16.1 Competitive Benchmarking
16.2 Market Share Analysis
16.3 Recent Developments
16.3.1 Industry News
16.3.2 Company News
16.3.3 Mergers & Acquisitions
17. USE Cases and Best Practices
18. Conclusion
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