Activated Carbon Market size was valued at USD 5.7 billion in 2019 and is poised to grow from USD 6.23 billion in 2023 to USD 13.87 billion by 2031, growing at a CAGR of 9.3% in the forecast period (2024-2031).
The activated carbon market is an increasingly flourishing industry supported by growing demand in multiple applications, comprising gas treatment, food and beverages processing, and water purification. Growing awareness regarding environmental issues and the rising need for clean water is propelling industrial and consumer demand. Furthermore, improvements in production techniques and the development of dedicated activated carbon items are increasing the industry potential. Overall, the market is projected for continued growth with present innovations and emphasis on sustainability.
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There is an increased focus on eco-friendly products and sustainable practices in the activated carbon market. Manufacturers are actively emphasizing sourcing supplies from renewable sources like agricultural by-products and coconut shells. This trend is impacted by the strict ecological regulations and user demand for green products, triggering companies to invest in eco-friendlier production techniques and encourage products with less ecological footprint. Modernizations in production techniques like chemical activation and steam activation are increasing the performance and efficiency of activated carbon. Moreover, improvements in reactivation and regeneration processes are increasing cost-effectiveness and making it more recyclable. Novel applications are also progressing like the use in nanotechnology and activated filtration system, thus expanding the market potential.
Key Market Developments Include Environmental Standards and Regulatory Changes and Advances in Production Processes
Recent years have witnessed the adoption and use of strict ecological regulations for decreasing water and air pollution. Moreover, bodies and governments are imposing stricter norms. Mainly regarding air quality and wastewater treatment. This increased the need for activated carbon since it is an effective choice for absorbing dangerous elements from industrial releases and enhancing air quality in urban cities. Companies are also emphasizing compliance with such norms to maintain their market rankings. Moreover, improvements in production methods are increasing the quality and efficiency of activated carbons. Improvements in re-activation processes are also flourishing that enable re-generation of already used activated carbon, reducing cost for end-users and minimizing wastage. These advances are majorly contributing to the sustainability and performance of activated carbon items.
- In May 2024, Calgon Carbon Corporation, a subsidiary belonging to Kuraray Co., Ltd. announced its contract with Sprint Environmental Services, LLC to buy its industrial reactivated carbon segment. This acquisition entails an industrial carbon reactivation plant located near Texas in Houston and 21 personnel.
- In March 2023, Mitsubishi Heavy Industries, Ltd. (MHI) and Osaka Gas Co., Ltd. to sign an agreement to perform a study on a project to create a value chain CO2 for Carbon Capture, Utilization, and Storage, comprising transporting captured CO2 in Japan to foreign, using it to develop synthetic gas and e-methane manufactured via methanation and preserving it underground.
- In January 2023, Cabot Corporation stated its aim to add (CCA) conductive carbon additives capacity in the U.S. to increase its market position and aid the inclination towards e-vehicles. Cabot will add this capacity to its present facility in Texas in Pampa. This facility is now a unit of approx. USD 200 million strategic investment program, in the coming five years committed to expand its CCA production in the U.S.
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This report covers the following segments:
- A. Type
- Powdered
- Granular
- Others
- B. Application
- Water Treatment
- Air & Gas Purification
- Food & Beverages
- Others
- C. End Use
- Water and Wastewater Treatment
- Air Purification
- Food & Beverages
- Industrial Chemicals
- Pharmaceuticals
- Mining
- Automotive
- Others (Personal Care, etc.)
The report covers the following players:
- Osaka Gas Chemicals Co., Ltd.
- Silcarbon Aktivkohle GmbH
- Calgon Carbon Corporation
- Cabot Corporation
- Kuraray Co., Ltd.
- Donau Carbon GmbH
- Kureha Corporation
- ADA-ES, Inc.
- Carbon Activated Corporation
- Haycarb PLC
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Emerging Trends and Developments to Transform Activated Carbon Landscape in Future
The global market is witnessing substantial transformations impacted by several technological improvements, strict environmental regulations, and rising demand in multiple industries and end-use areas. The major trends, including innovations in production processes and an inclination towards environmentally friendly approaches and products, are reshaping the future of the market. In addition, growing investments in the water treatment landscape and the introduction of novel applications are increasing the market opportunities.
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