The global activated carbon market is expected to reach USD 5.98 billion by 2030, at a CAGR of 5.56% from 2022 to 2030. Activated carbon market growth would be driven by the growing demand for water purification technologies, given the rising world population and depleting freshwater resources. Rapid urbanization & industrialization are the primary factors responsible for the increasing need for water purification. The new technological advancements have paved the way for the development of improved grades of activated carbon that are more efficient, and this development  will also contribute to the market's growth. Given its rising applications, the growing demand for activated carbon in the automotive, pharmaceutical, and food & beverage industries will also contribute to the development of the activated carbon market.

Market Overview:

Carbon is an element with 6 electrons. Carbon is a non-metal. It has 6 electrons and 6 protons. The outermost orbit of the carbon atom has 4 electrons and this property of carbon is called tetravalency. It only forms a covalent bond because of the tetravalency. The study of carbon and its compound is called organic chemistry. Carbon forms the basis of all living organisms, meaning it is present in different amounts in all living beings, including plants and animals. Carbon bonds with others elements like hydrogen, oxygen, and nitrogen to form the organic compounds found in living organisms. Carbon can bond with itself, creating long chains; this property of carbon is called catenation. Activated carbon is a form of carbon that is treated in a tank without oxygen at high temperatures. The treatment increases the surface area of the carbon by reducing the particle size. The reduction in particle size makes it more adsorptive and suitable for filtration. Activated carbon is chemically inert and hence stable. Activated carbon removes unwanted foreign particles from gases, liquids, and solids. It is used to purify municipal drinking water, deodorization, and control industrial pollution. It also stores hydrogen for decaffeination, gold purification, and solvent recovery.

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Market Dynamics:

Drivers:

• The rising world population coupled with decreasing potable water resources

The growing world population, rapid urbanization & industrialization has increased the demand for potable water. Water finds its applications in households, commercial sectors, manufacturing & construction. The existing freshwater supply on earth cannot meet the growing water demand. These resources are already over-exploited, which has led to their depletion and scarcity of water across the globe. The release of industrial effluents and other anthropogenic activities has led to water pollution, making it unsuitable for consumption. Activated carbon is used for treating contaminated water; it removes unwanted foreign particles and makes the water fit for consumption. Similarly, it is also used for processing industrial water before it is released into the natural water bodies to prevent water pollution. The cost-effective, accessible, simple application and environmentally friendly nature of activated carbon make it the ideal choice for water treatment.

Restraints:

• The uncertain supply of raw materials

The raw materials used to manufacture activated carbon are coal, wood, peat, and coconut shells. Coconut shells are primarily used for the production of activated carbon. However, the fluctuations in the supply of coconut shells, given its broad scope of application in other industries like steel, oil, iron, electricity, and cement, will hamper the market's growth.

Opportunities:

• The growing number of applications  

Activated carbon is primarily used in treating water to make it fit for consumption. It is used to treat industrial discharge before it is released into the natural water bodies to reduce water pollution. With rapid industrialization and the growing population, air pollution has risen recently. The increased number of people dying due to pulmonary ailments has raised the alarm for government authorities to devise programs to reduce air pollution and preserve human health. Activated carbon is increasingly being used for air purification at residential, commercial, and industrial levels. It is also used in the food and beverages industry to remove unwanted color and odor of sweeteners, syrups, juices, and other condiments. The rise in the number of applications will provide lucrative opportunities to the market players for the forecast period.

Challenges:

• Presence of alternatives

The increased cost of some activated carbon grades has led consumers to explore other water treatment alternatives. The invention of super sand to purify water has gained popularity, given its ability to filter contaminated water five times more efficiently than regular sand. It is a low-cost method to purify water and can challenge the growth of the activated carbon market during the forecast period.

Segmentation Analysis:

The global activated carbon market has been segmented based on application, product type, end-use industry, and region.

• The application segment is divided into gas-phase application and liquid-phase application. The gas-phase application segment dominated the market, with a market share of around 54% in 2021. The gas phase application is predominantly used for air purification processes. Gas phase activated carbon primarily finds use in the automotive and industrial units/sectors. Gas phase activated carbon is used to deodorize and filtrate exhaust fumes, smoking rooms, chemical processing plants, and industrial air. Given the stringent regulatory guidelines to control air pollution caused by exhaust fumes and industrial units, applying gas-phase activated carbon is bound to witness growth during the forecast period.
• The product type segment is divided into powdered activated carbon, granular activated carbon, and others. Over the forecast period, the granular activated carbon segment is expected to grow at the fastest CAGR of 8.6%. Granulated activated carbon is larger than powdered activated carbon. Granulated activated carbon is reusable and can be regenerated, making them sustainable and environmentally friendly. Given their larger particle size, they can easily remove foreign particles from solids, liquids, and gases. The application in all states of matter increases the scope of its application. One such example would be the growing use of granulated activated carbon in the food and beverages industry to remove unwanted odor and color from sweeteners, syrups, and juices.
• The end-user industry segment is divided into water treatment, automotive industry, air purification, food & beverages, pharmaceuticals & medical, and others. In 2021, the water treatment segment dominated the market, accounting for around 45% of global revenue. The cost-effective, easy, and environmentally friendly nature of activated carbon to treat contaminated water is responsible for the rising use of activated carbon in water treatment globally. The decreasing potable water resources have created a market for water purification technologies. The market players are developing new variants of activated carbon to be used in water purification, giving the necessary impetus for the growth of this segment.

Regional Segmentation Analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The Asia Pacific emerged as the largest market for the global activated carbon market, with a 39.6% share of the market revenue in 2021.

• The Asia Pacific region currently dominates the activated carbon market due to the growing population of the region, which has led to the increase in demand for activated carbon for water treatment and air purification applications across the region. The rise in government initiatives and guidelines to provide potable water to remote parts of the region will aid in developing the activated carbon market. The region is known for the abundant presence of raw materials required for the production of activated carbon. The ease of raw material availability translates to the low production cost, attracting various manufacturers to the region, resulting in the growth of the Asia Pacific activated carbon market.

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Competitive Analysis:

The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances, and partnerships to improve their market position in the global activated carbon industry.

The sale of Cabot Corporation's Purification Solutions division, which includes the activated carbon division, to One Equity Partners, was announced in November 2021.

List of Key Market Players:

• Cabot Corporation
• Kuraray Co. Ltd.
• JACOBI CARBONS GROUP
• CARBOTECH AC GMBH
• Osaka Gas Co. Ltd.
• Haycarb PLC
• Kureha Corporation
• CarbPure Technologies
• Boyce Carbon
• Donau Chemie AG

Key Target Audience

• Industrial Units
• Municipal Authorities
• Market Players
• End-Users
• Investors
• Government Authorities
• Consulting And Research Firm
• Venture capitalists
• Third-party knowledge providers
• Value-Added Resellers (VARs)

Report Description:

• Global Activated Carbon Market, Industry Analysis, Trends, Analysis and Forecast, 2022 to 2030 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
• 2021 is considered as the base year of the report. 2019 and 2020 are the historic years, and 2022 to 2030 are the forecast years. The global activated carbon market is based on revenue (USD Billion). The report incorporates the market study based on revenue. The study covers the market share revenue/market share/volume for each segment, region, and country catering to the global activated carbon market. The regions analyzed for the market are Europe, Asia Pacific, North America, South America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
• The report encompasses the relative data & information, which have been validated by the leading industry professionals and experts across the globe. The research report also delivers an outline of the attractiveness of activated carbon based on application, product type, end user industry, and regions which are deduced and formulated based on their growth rate (CAGR), market size, and attractiveness by analyzing the present and prospects to fathom market growth and development in future.
• The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by key organizations catering to the global activated carbon market. This offers vital and in-depth insights to depict the overall market scenario.
• The report offers the detailed study for the company profiles of key organizations operating in the global activated carbon market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development & innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. This helps in evaluating the overall competition present in the market scenario.
• The report provides an elaborative assessment of the porter's five forces analysis coupled with SWOT analysis to provide business related data and information. Porter's five forces model is analyzed to understand the overall competitive scenario that is prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development which influences the company's growth and development to sustain and survive in the long run.
• Along with that, the report also focuses on the market related driving factors, growth limitations (restraints), potential industry opportunities, significant trends and development which act as a key potential for the investors. Potential growth prospects along with the penetration rate analysis of the product (market related, i.e., global activated carbon market) is covered to comprehend the adoption rate and evaluate the market size.