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Thursday, 18 April 2024
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Activated Carbon Market is expected to reach US$ 6,081.05 million by 2028

The Activated Carbon market share is expected to reach US$ 6,081.05 million by 2028 with a CAGR of 8.2%

By The Insight Partners

Government Policies and Initiatives for Wastewater Management to Escalate Activated Carbon Market Growth During 2023–2028

According to our latest market study on “Activated Carbon Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type and Application,” 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. The report highlights key factors driving the activated carbon market growth and prominent players along with their developments in the market.

Activated carbon is defined as microporous carbonaceous material derived from coal, peat, bituminous, lignite, peat, wood, or coconut shell, among others, through two-stage chemical activation process. The activated carbon is used in the air and gas purification processes. The use of activated carbon is expected to increase in the coming years due to several sustainable initiatives by governments and organizations across the world, specifically to regulate industrial gas and greenhouse gas emissions. The rising air and water pollution prompted governments across the globe to establish regulations and limits on toxic and hazardous pollutants, which has further encouraged manufacturers to develop efficient air and water filtration technologies.

Global Activated Carbon Market Breakdown – by Region

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPTE100000777

Governments of the US, Germany, Thailand, the Philippines, China, and India have commenced programs and initiatives to support wastewater treatment and circular economy through statutory or legislative authorities. According to the US Environmental Protection Agency report published in 2022, ~128.7 billion liters of wastewater is processed quotidian in wastewater treatment plants in the US. The report also reveals that 20% of US households use septic tanks and systems for local wastewater treatment. According to the United Nations Water, China received US$ 104 million in 2020 as water- and sanitation-related official development assistance, which entails water-related policies, water resources conservation, waste disposal and management, and agricultural water resources. According to a report released by the Government of India in 2021, under the Swachh Bharat Mission (Urban) 2.0 initiative, the government issued US$ 1.93 billion in 2021 to states/union territories for wastewater management, especially for the development of sludge treatment plants. Activated carbon is widely used in the tertiary stage of wastewater treatment. Thus, government policies and initiatives to promote wastewater management are projected to drive the growth of the activated carbon market in the coming years.  

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.

Impact of COVID-19 Pandemic on Activated Carbon Market

The activated carbon market before the emergence of the COVID-19 pandemic was mainly driven by a high demand for activated carbon from the industries such as gas & air, automotive, food & beverages, mining, and water treatment. The difficulties faced by manufacturers in the procurement of raw materials and subsequent shutdown of manufacturing facilities due to the pandemic effects hampered the demand for activated carbon. The activated carbon market in North America also reported disruptions in supply chains. Further, the pandemic negatively impacted the production and sales of activated carbon in the US.

In 2021, with the recovery in business activities in industries such as automotive, food & beverages, mining, chemicals, etc., the demand for activated carbon is increasing. This is expected to provide the impetus for the activated carbon market growth over the coming years.

The report includes the segmentation of the global activated carbon market as follows:

Based on type, the global activated carbon market is segmented into granular/extruded, powdered, honeycombs, impregnated, and reactivated. Based on application, the market is segmented into gas & air, automotive, catalyst, chemicals, food & beverage, mining, pharmaceuticals, water treatment, and others. By region, the global activated carbon market is broadly segmented into North America, Western Europe, Eastern Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North America activated carbon market is further segmented into the US, Canada, and Mexico. The market in Western Europe is subsegmented into Germany, France, the UK, Italy, Spain, Belgium, the Netherlands, and the Rest of Western Europe. The Eastern Europe activated carbon market is subsegmented into Russia, Poland, and the Rest of Eastern Europe. The market in Asia Pacific is further segmented into China, India, Japan, Australia, South Korea, Vietnam, Pakistan, Indonesia, Taiwan, and the Rest of Asia Pacific. The market in the Middle East & Africa is further segmented into Turkey, Saudi Arabia, and the Rest of Middle East & Africa. The South & Central America activated carbon market is further bifurcated into Brazil and the Rest of South & Central America.

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