Key Market Insights
Implementation of regulatory standards will spur the market revenue growth
The global activated charcoal market accounted for US$ 4.64 Bn in 2021 and is anticipated to grow to US$ 11.12 Bn growing at a CAGR of 10.3% throughout the forecast period from 2022 to 2030. The market size in terms of volume was 3,076.5 metric tons (in 000’s) in 2021 and is projected to reach 7514.98 metric tons (in 000’s) by 2030 growing at a CAGR of 10.5%.Global sustainability trends are bolstering the demand for purification of air and water and ecofriendly process alternatives. Activated charcoal is a high porous and high surface area adsorptive material with a large nebulous structure. Activated charcoal sorbents are custom-made for specific applications based on pore size and pore volume requirements. Activated charcoal plays a major role in applications throughout the chemical process industry including potable water purification, sewage treatment plants, and adsorbed gas storage among others.
In addition, rising adoption of activated charcoal in food and beverages industry, increasing investment flow and new applications in the mining industry are driving the growth of the activated charcoal market globally. In developed countries, demand for activated charcoal is largely influenced by regulatory standards implemented by governments. For instance, The US Environmental Protection Agency has introduced Mercury and Air Toxics Standards for mercury removal applications in the US expected to drive the demand for activated charcoal market.
Product Type Analysis
Granular activated charcoal segment to register maximum growth throughout the forecast period
Based on product type, the activated charcoal market is segmented into three type'smainly powdered activated charcoal, granular activated charcoal and extruded activated charcoal. Powdered activated charcoal segment accounted for more than 40% of the revenue share of the global activated charcoal market. This is due to the powdered form has high adsorption capacity and is widely used in applications including automotive, healthcare, and food and beverages among others. In addition, the powdered activated charcoal is globally produced at large volume accounting for more than 50% of total production.In contrast, granular activated charcoal is set to record fastest growth during the forecast period. Owing to the adoption of granular charcoal for treatment of air purification and water treatment, especially in removal of chlorine and mercury. For instance, the U.S. has stringent regulations for mercury removal. Activated charcoal is injected for removal of mercury from cement plants, coal-fired power plants, and solid waste incinerators among others in the region.
Application Analysis
Gas Phase segment expected to be dominant during the forecast period
Based on application, the global activated charcoal market is segmented into Liquid phase and gas phase which are further segmented into liquid phase (water treatment, food & beverage processing, healthcare, others (mining)), gas phase (air purification, industrial, automotive, others (oil & gas)). Water treatment segment accounts for more than 35% of market share in liquid phase application and is expected to remain dominant throughout the forecast period. This can be associated with the standards set by various government agencies for purification of water especially in countries such as the U.S. and China.Additionally, Gas phase application dominates the activated charcoal market. This is due to rising adoption of air conditioning, gas masks, and purification factory effluent gases among others. Rising pollution levels in urban areas and CO2 emission from automotive are also some of the factors driving the demand for gas purification segment. Thus driving the growth of activated charcoal market.
Regional Analysis
Rising environmental concerns to bolster the growth in Asia Pacific region
In 2021, Asia Pacific was leading the activated charcoal market and was the largest revenue contributing region with a market share of more than 30%. Asia Pacific is estimated to lead during the forecast period followed by North America. This is due to the rising mercury emissions due to increased power generation in developing nation such as China, India and Japan. Coal being the major source of electricity coupled with rising environmental regulations due to increased level of emissions in these nations are driving the growth of the activated charcoal market in the region.In contrast, North America region is the second largest region after the Asia Pacific. The region is expected to register moderate growth. This is due to growing environmental concerns and stringent regulations and standards set by governments to protect the environment in the region.
List of Companies Covered:
- Cabot Corporation
- JACOBI CARBONS GROUP
- Kuraray Co. Ltd
- ADA Carbon Solutions
- Osaka Gas Co.
- Calgon Carbon Corporation
- Thomas Net
- Thermax Group
- Haycarb Plc
- KUREHA CORPORATION
- Donau Carbon GmbH
Key Industry Development:
- In December 2018, Advanced Emissions Solutions Inc. announced the acquisition of ADA Carbon Solutions, LLC. With this acquisition Advanced Emissions Solutions Inc. will gain a significant market share in the activated charcoal and emission control market.
- In April 2018, New York state department of environmental conservation has appointed Cabot Corporation as its new supplier for granular activated carbon for the removal of perfluorooctanoic acid contamination.
Historical & Forecast Period
This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Activated Charcoal market are as follows:- Research and development budgets of manufacturers and government spending
- Revenues of key companies in the market segment
- Number of end users and consumption volume, price and value.
- Geographical revenues generate by countries considered in the report
- Micro and macro environment factors that are currently influencing the Activated Charcoal market and their expected impact during the forecast period.
Market Segmentation
Product
- Powdered Activated Charcoal
- Granular Activated Charcoal
- Extruded Activated Charcoal
Application
- Liquid Phase
- Water Treatment
- Food & Beverage Processing
- Healthcare
- Others (Mining)
- Gas Phase
- Air Purification
- Industrial
- Automotive
- Others (Oil & Gas)
Key questions answered in this report
- What are the key micro and macro environmental factors that are impacting the growth of Activated Charcoal market?
- What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
- Estimated forecast and market projections up to 2030.
- Which segment accounts for the fastest CAGR during the forecast period?
- Which market segment holds a larger market share and why?
- Are low and middle-income economies investing in the Activated Charcoal market?
- Which is the largest regional market for Activated Charcoal market?
- What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- Which are the key trends driving Activated Charcoal market growth?
- Who are the key competitors and what are their key strategies to enhance their market presence in the Activated Charcoal market worldwide?
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Table of Contents
1. Preface
2. Executive Summary
3. Activated Charcoal Market: Competitive Analysis
4. Activated Charcoal Market: Macro Analysis & Market Dynamics
5. Activated Charcoal Market: By Product, 2020-2030, USD (Million)
6. Activated Charcoal Market: By Application, 2020-2030, USD (Million)
7. North America Activated Charcoal Market, 2020-2030, USD (Million)
8. UK and European Union Activated Charcoal Market, 2020-2030, USD (Million)
9. Asia Pacific Activated Charcoal Market, 2020-2030, USD (Million)
10. Latin America Activated Charcoal Market, 2020-2030, USD (Million)
11. Middle East and Africa Activated Charcoal Market, 2020-2030, USD (Million)
12. Company Profile
List of Figures
List of Tables
Companies Mentioned
- Cabot Corporation
- JACOBI CARBONS GROUP
- Kuraray Co. Ltd
- ADA Carbon Solutions
- Osaka Gas Co.
- Calgon Carbon Corporation
- Thomas Net
- Thermax Group
- Haycarb Plc
- KUREHA CORPORATION
- Donau Carbon GmbH
