Activated Carbon: Addressing Challenges and Opportunities in the Global Market
The global activated carbon market size is expected to reach USD 4.80 billion by 2030 to expand at a CAGR of 3.7% from 2024 to 2030 according to a new report by Grand View Research, Inc. This increase can be attributed by the need for a powdered and granular form is expected to increase as the demand for water and air purification in coal-fired plants grows and clinker cement industries. Asia Pacific dominated the regional segment due to the growing industrialization in Japan and the developing economies. North America is another key region contributing to market growth due to stringent emission regulations in the region.
Activated Carbon Market Report Highlights
Powdered activated carbon segment dominated the type segment as they are used in water treatment which is the major end use industry of the market
Asia Pacific witnessed the fastest growth rate due to factors like large availability of good quality coconut shell. The regional market is also driven by growing disposable income, surge in the automotive industry
Companies such as Cabot Corporation have fully integrated their processes. Raw material procuring, product preparation and distribution processes are fully integrated. The full integration strategy adopted by companies is done to offset the volatility involved in raw material procurement and to implement strict quality parameters on production
The spread of COVID-19 has negatively impacted each and every sector including chemical. The supply chain of raw materials of silicone-based adhesion market drastically impacted the production and consumption pattern
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Various regulatory agencies have enacted strict environmental pollution control policies and encouraged the use in air and water treatment plants, which is expected to boost the market throughout the anticipated period. Implementation of regulations by various governments is expected to drive the product consumption in the forecast period.
The supply chain of the raw materials was drastically impacted by the COVID-19 outbreak, which further affected the production and consumption patterns globally. Powdered carbon type has dominated the product consumption since last decade. Consequently, halt in production of non-essential chemicals, ingredients or industrial products has drastically hampered demand. This resulted in negative impact on the market in 2020.
