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Activated Carbon Market Size to Record 5.6% CAGR Over 2023-2030; Rising Preference for Reactivated Carbon Among Key Companies to Fuel Market Growth

December 12, 2023 | Chemicals & Materials

The global activated carbon market size touched USD 4.98 billion in 2022 and is predicted to reach USD 5.26 billion in 2023. The market is anticipated to touch USD 7.73 billion by 2030, recording a CAGR of 5.6% over 2023-2030.


Fortune Business Insights™ presents this information in its latest report titled “Activated Carbon Market Size, Share & COVID-19 Impact Analysis, By Type (Powdered, Granular, and Others), By Application (Water Treatment, Air & Gas Purification, Food & Beverage, Pharmaceutical & Healthcare Treatment, and Others), and Regional Forecast, 2023-2030”.


Activated carbon is primarily used in purification applications in industries, such as water purification and food & beverage. This type of carbon, also called activated charcoal, has high porosity and can absorb micro impurities, organic & inorganic compounds, and Volatile Organic Compounds (VOCs). Growing environmental concerns, such as air and water pollution are predicted to accelerate the activated carbon market growth.


Trade Disruptions Decreased Production Activities, Slowed Market Development


The COVID-19 pandemic had an adverse impact on market growth as governments across the world introduced lockdowns and various trade restrictions. This scenario caused a major decline in production activities as many industries were forced to shut down their manufacturing plants. This factor reduced the demand for activated charcoal products, which further slumped market growth.


Cabot Corporation Invested USD 200 Million in U.S. to Expand Product Sales


In January 2023, Cabot Corporation announced to invest USD 200 million in the U.S. to add the conductive carbons capacity at its current production plant located in Pampa, Texas. The investment is aimed to expand its product’s presence across the country in the next 5 years.


Rising Preference for Reactivated Charcoal among Key Companies to Fuel Market Growth


The demand for activated charcoal has increased considerably in recent years. This has also increased the need to recycle or ‘reactivate’ the product as it is not abundantly available. This type of carbon can be reactivated with the help of a thermal process, wherein the absorbed organic and inorganic compounds are removed, which improves its absorption capacity. Moreover, using reactivated charcoal can help industries decrease the cost of replacing it, which will further fuel its use.


However, shortage in raw materials leads to increase in prices further stifling market growth.


Key Companies to Focus On Corporate Growth Strategies to Increase Market Share


Some of the top companies operating in the market include Cabot Corporation, Kuraray Co., Ltd., and Osaka Gas Chemicals Co., Ltd. These market players are increasing their focus on new product launches, acquisitions, and other key growth strategies to expand their market share and global reach.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/activated-carbon-market-102175


Notable Industry Development:



  • March 2023 – Cabot Corporation announced the launch of the EVOLVE Sustainable Solutions platform. This novel technology platform is involved in promoting eco-friendly reinforcing carbons. With the introduction of the new technology, the company aims to recover the carbon products from the end-of-life tiers to recycle waste and decrease carbon emissions.


List of the Companies Profiled in the Report:



  • Osaka Gas Chemicals Co., Ltd. (Japan)

  • Donau Carbon GmbH (Germany)

  • Cabot Corporation (U.S.)

  • PURAGEN ACTIVATED CARBONS (U.S.)

  • CARBOTECH AC GMBH (Germany)

  • Kuraray Co., Ltd. (Japan)

  • KUREHA CORPORATION (Japan)

  • Activated Carbon Technologies (Australia)

  • Silcarbon Aktivkohle GmbH (Germany)

  • Ingevity (U.S.)

  • Iluka Resources (Australia)

  • James Cumming & Sons (Australia)

  • Universal Carbons (India)

  • Carbon Activated Corporation (U.S.)

  • Tronox (U.S.)

  • Active Char Products (India)

  • Genuine Shell Carb (India)


Further Report Findings:



  • Asia Pacific dominated the global activated carbon market share in 2022 and is predicted to maintain its dominance during the forecast period. This is attributed to the presence of two major activated charcoal consuming nations – India and China. These countries use the product for a wide range of water treatment applications to fulfill the growing demand for safe and potable water.

  • Europe is also emerging as a promising market due to the introduction of stringent carbon emission rules and standards. Governments across the region are also taking various initiatives to protect the environment, which will further boost the product’s demand in the coming years.

  • Based on type, the Granulated Activated Carbon (GAC) segment is emerging as the fastest growing segment as this type of carbon is being widely used across a vast range of industry verticals. These include water, air & gas, and food & beverage.


Table of Segmentation
















































ATTRIBUTE



DETAILS



Study Period



2019-2030



Base Year



2022



Estimated Year



2023



Forecast Period



2023-2030



Historical Period



2019-2021



Growth Rate



CAGR of 5.6% from 2023-2030



Unit



Value (USD Billion), Volume (Kiloton)



Segmentation



By Type



  • Powdered

  • Granular

  • Others



By Application



  • Water Treatment

  • Air & Gas Purification

  • Food & Beverage

  • Pharmaceutical & Healthcare Treatment

  • Others



By Geography



  • North America (By Type, Application, Country)

    • U.S. (By Type)

    • Canada (By Type)



  • Europe (By Type, Application, Country)

    • Germany (By Type)

    • France (By Type)

    • U.K. (By Type)

    • Italy (By Type)

    • Spain (By Type)

    • Russia (By Type)

    • Rest of Europe (By Type)



  • Asia Pacific (By Type, Application, Country)

    • China (By Type)

    • Japan (By Type)

    • India (By Type)

    • South Korea (By Type)

    • Rest of Asia Pacific (By Type)



  • Latin America (By Type, Application, Country)

    • Brazil (By Type)

    • Mexico (By Type)

    • Argentina (By Type)

    • Rest of Latin America (By Type)



  • Middle East & Africa (By Type, Application, Country)

    • Saudi Arabia (By Type)

    • UAE (By Type)

    • Kuwait (By Type)

    • Oman (By Type)

    • Rest of the Middle East & Africa (By Type)




Activated Carbon Market
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  • 2022
  • 2019-2021
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