Activated Carbon Market to Grow at a CAGR of 5.7% During 2024-2032; Increasing Pollution Due to Emissions Caused by Product Manufacturing Drive Market Growth

The global activated carbon market size was valued at USD 5.21 billion in 2023. The market is projected to grow from USD 5.50 billion in 2024 to USD 8.54 billion in 2032, exhibiting a CAGR of 5.7% during the forecast period.

Fortune Business Insights™ presents this information in its report titled, “Activated Carbon Market Size, Share & Industry Analysis, By Type (Powdered, Granular, and Others), By Application (Water Treatment, Air & Gas Purification, Food & Beverage, Pharmaceutical & Healthcare Treatment, and Others), and Regional Forecast, 2024-2032”.

Activated carbon, also called activated charcoal, is utilized for air and gas cleaning, which also involves reusable recovery. It is mainly used for the adsorption of dissolved organic impurities and to eliminate substances affecting taste and odor. Surging pollution owing to the emissions caused during product manufacturing drives market expansion.

The COVID-19 pandemic negatively impacted the market expansion. The decreased availability of activated charcoal globally during the pandemic due to the closure of manufacturing units hampered market growth.

Ingevity Corporation Increased its Production Capacity to Fulfil Global Demand for its Carbon Products

In February 2021, Ingevity Corporation raised its activated carbon manufacturing capacity at its facility in Zhuhai, China. The company has raised the plant's capacity by an additional 15% to 20%, which will help the company meet the high demand for its premium and high-capacity pelletized carbon products. These products are used in the gasoline vapor emissions control systems in boats, motorcycles, cars, and trucks.

Increased Demand for Air Purification Systems to Drive Market Growth

The increased demand for air purification systems in generators and factories due to the increasing air pollution globally drives the activated carbon market growth. The rising industrialization and growing number of coal-based electricity-producing power plants have raised air pollution, driving the demand for activated charcoal. The market is also driven by the increased consumption of activated charcoal for end products, including carbon filters.

However, the scarcity of different raw materials, including coconut shell charcoal used to produce activated charcoal, may hinder growth.

Increasing Major Market Players’ Focus on New Product Developments to Propel Market Expansion

In terms of the competitive landscape, the activated carbon market consists of major market players, including Cabot Corporation, Kuraray Co., Ltd., and others. The increasing focus of these major market players on new product developments as their major strategy drives market growth.

Notable Industry Development

• March 2023 – Cabot Corporation introduced the EVOLVE technology platform program, which enhances the sustainable reinforcing of carbons. The main aim of the new technology is to recover carbon from end-life tiers, renew waste, and decrease carbon content.

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

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 accounted for USD 2.20 billion and held the dominant activated carbon market share in 2023. The growth is attributed to the increasing population in Asia Pacific, which led to an increased need for safe and pure potable water.


• The increased demand for air and water purification applications is driving the market growth across North America.


• The increasing demand for activated charcoal in applications, such as mercury absorption, water treatment, and air purification, due to the strict guidelines and standards and government initiatives to protect the environment drives the market growth in Europe.


• Surging consumption of the product in pharmaceutical and water purification industries to decolonize and deodorize is expected to drive the market in Latin America.


• Rising oil exploration, low water availability, and industrial activities boost the Middle East & Africa market expansion.

Table of Segmentation