Global Activated Carbon Market By Type (Granulated Activated Carbon, Powdered Activated Carbon, and Others), By Form (Gas Phase and Liquid Phase), By End-Use (Air Purification, Food & Beverage Processing, Water Treatment, Pharmaceutical & Medical, and Other End-Uses), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

The Activated Carbon Market size is expected to be worth around USD 5.4 billion by 2032 from USD 3.6 billion in 2022, growing at a CAGR of 4.2% during the forecast period 2023 to 2032.

The key growth driver is anticipated to increase demand for significant wastewater treatment applications. Activated charcoal is distinguished by its tiny pores. These pores increase activated carbon’s surface area, which, in turn, increases its adsorption capability.

When a solid is used to remove a soluble substance from water, it’s called adsorption. This activated charcoal is often used to filtrate potable water systems and sewage treatment plants. They can filter out sediments, taste, odor, chlorine, and volatile organic compounds from water but cannot filter out dissolved organic compounds, salts, and minerals.

The raw materials are usually carbonaceous materials like coal, wood-activated carbon market, nutshell, and coconuts. Basically, any organic material with high carbon content can be considered raw material for activated carbon powder. This market report gives an overview of the Activated Carbon market report, growth, size, and other key factors.

Key Takeaways

• Market Developments: The global activated carbon market experienced steady expansion since 2022, reaching USD 3.6 billion at its valuation. Projections indicate an exponential leap, projecting that this market will reach an anticipated value of approximately USD 5.4 billion by 2032 – representing a compound annual growth rate of 4.2% from 2023-2032.
• Type Analysis: Based on product, the market can be divided into activated granules and powdered activated carbon products as well as others. Powdered activated carbon is estimated to reach US$2192 million by 2022 with compound annual compounded growth expected at 4.4% over its forecast period.
• Form Analysis: Market growth will likely be stimulated by rising demands for water treatment techniques due to regulatory requirements and industry standards that stipulate this practice.
• End-Use Analysis: Water treatment was once one of the dominant final-use sectors. Today, however, new technologies for water purification continue to gain worldwide appeal and activated carbon companies continue exploring ways to develop technology that improves efficiency for treating wastewater.
• Drivers: Multiple factors fueling the growth of the activated carbon market include increasing needs for effective air and water purification systems, environmental concerns, and regulations regarding quality.
• Restraints: Despite its widespread adoption, activated carbon markets face a unique set of challenges due to high production costs and limited ability to recycle material that could hinder further market expansion.
• Prospects: The market’s future looks bright, as opportunities exist from advances in manufacturing technology, increased environmental funding, and a shift toward sustainable and renewable sources of activated carbon.
• Trends: Key trends in the activated carbon market include an increasing need for gas and air purification systems as well as its growing usage for decolorization and deodorization processes in various industries.
• Regional Dominance: At 52% activated carbon market share, the Asia Pacific region held onto its dominance until 2022. Asia Pacific markets offer perfect conditions to purchase coconut shell AC and coconut shells while activated carbon is utilized in water purification as well as mining gold.
• Key Players in the Activated Carbon Market: Key companies involved in the activated carbon market include CarbPure Technologies, Cabot Corporation, and Boyce Carbon; each contributes to market innovation and expansion.

Driving Factors

Supply-demand mismatch-

Growth is expected to increase with the latest manufacturing technologies. The main raw materials for the product are coconut shells, resin, and wood. High carbon yields are achieved when a large amount of raw material is used. A large supply-demand mismatch has led to a huge rise in raw material prices.

Unavailability of pure drinking water-

The lack of safe and pure drinking water is primarily caused by water scarcity, climate change, and population growth. Therefore, the market for activated carbon has so much potential for growth because of such situations faced by the world in today’s world.

Constraints

Raw material availability-

The activated carbon market heavily depends upon coconut shells as raw material. When natural calamities occur, it restricts the supply of this raw material, which can hamper the production of activated carbon and hence the market’s growth.

This also causes the increased cost of the products. Other industries, like power plants and iron plants, require the same raw material. Therefore it affects the availability of the raw material, which affects the market’s growth.

Opportunities

Mercury Control

Activated carbon can purify the air and remove hazardous gases, odors, and harmful dust particles from greenhouses and manufacturing plants. Mercury emissions from coal-fired power plants are dangerous to human health and the environment.

In the future, many production establishments across the US and Europe will be needed to satisfy strict new emission standards for mercury and other dangerous air pollutants. Because of the usage of mercury control technology for industrial air-purification applications, the demand for activated carbon is expected to rise.

Type Analysis

Powdered Activated Carbon dominates the market with moderate CAGR over the forecast period.

According to product type, this market is divided into granulated activated carbon, powdered activated carbon, and others. The powdered activated carbon (PAC) market is the dominant segment In 2022, valued at US$ 2,192 Mn, and is expected to grow at a CAGR of 4.4% during the forecast period.

PAC can remove a variety of particulates and has a high adsorption ability. Cabot Corporation increased its activated-carbon production capacity in Canada by doubling it to meet the increasing demand for PAC to adequately meet the demand for the product by the mercury removal industry.

In 2022, the granular activated carbon (GAC) market was worth about US$ 1,197 Mn. This is due to its ability to regenerate. GAC is heavily used for municipal water treatment plants and air treatment. GAC is made from coconut shell charcoal and coal.

Form Analysis

The Gas Phase is very crucial for the market.

Market growth is expected to be aided by the growing demand for water treatment technologies. This is due to industry standards and regulations requiring them to do so. To protect the environment, standards have been set by governments and agencies. These measures are anticipated to benefit the market over the forecast period. The main focus of the gas phase is air purification.

Kuraray Corporation, one of the leading formulators of gas-phase products, is just one example. The activated carbon material is used extensively in the purification of air. The product can be used for gas separation, solvent extraction, and many other purposes.

The second largest revenue contributor worldwide is the liquid phase. Companies must adopt eco-friendly water treatment methods due to growing environmental concerns. Evoqua Technologies offers granular activated charcoal for liquid phase applications, including water treatment under the brand AquaCarb.

End-Use Analysis

Water treatment is the area where activated carbon is used the most.

Activated carbon is extensively used in air purification, food & beverages, automotive industries, healthcare, and water treatment.

The water treatment industry was the largest end-use industry. Water treatment technology has been gaining popularity all over the world. Many companies are constantly innovating and developing new technologies to improve water treatment. The adoption of efficient water disposal practices and the use of environment-friendly compounds will help markets.

Activated carbon can remove particulate, dissolved, and other pollutants. It removes contaminants from water and chlorine. Wastewater from industrial & municipal sources contains various pollutants, including undissolved & dissolved substances, biodegradable and persistent heavy metals, organic compounds, salts, and nutrients. Sewage treatment aims to eradicate these impurities and revive the natural water quality.

Contaminants are typically removed through sedimentation, flocculation, and biological treatment before final treatment with activated carbon to remove the most persistent pollutants, such as pharmaceuticals. Activated carbon is versatile and can be used to remove organic chemicals, colorants, trace chemicals, and pharmaceuticals, as well as to reduce residual COD.

Due to the variety of pollutants in wastewater, it is often measured in terms of overall parameters such as COD, DOC, and AOX. The type of activated carbon or mobile carbon filter needed depends on the specific characteristics of the wastewater and may require laboratory testing or pilot testing.

The World Health Organization (WHO) states that 3.4 million people, mostly children, each year pass away due to illnesses caused by contaminated water. Additionally, 844 million people worldwide do not have access to clean drinking water.

Globally, air purification was the second-largest revenue generator in 2022. This is due to the increasing demand for air-conditioners and air filters in both commercial and domestic settings. The market will be supported by technological advances, increasing disposable income, and rising affordability for fresher air.

Market growth is expected to be aided by the rising demand for adsorbent products in the food & drink and processing industries. Activated Carbon offers several advantages, including cost-effective, fast, complete, and complete elimination of unpleasant odors, long-term color stability, and easy removal of bad taste. These are the advantages that activated carbon offers to the food and beverage industry.

Key Market Segments

By Type

• Granular Activated Carbon
• Powdered Activated Carbon
• Other Types

By Form

• Gas Phase
• Liquid Phase

By End-Use

• Air Purification
• Food & Beverage Processing
• Water Treatment
• Pharmaceutical & Medical
• Other End-Uses

Regional Analysis

Asia Pacific has the largest market share-

A detailed analysis of key regions is given below: North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, and Middle East & Africa.

With a market share of 52%, the Asia Pacific region dominated this market in 2022. Asia Pacific is a market well-suited for purchasing coconut shell-based AC or coconut shells. Activated Carbon is commonly used for water purification and gold mining.

The oil content of dry coconuts from India is higher than that of coconuts from other countries in the Asia Pacific. Jacobi Carbons and Haycarb are two major market players that source coconut shells directly from Asian countries like Sri Lanka, Indonesia, and the Philippines.

North America has the second largest market share, after the Asia Pacific. Market growth is driven by rising automobile demand and a rising number of geriatrics. During the forecast period, the US market is expected to register the highest CAGR in the region. Environmental concerns and environmental issues are also key. PAC applications will rapidly rise, while gas phase applications should experience a similar industry trend.

The activated charcoal market in Europe is expected to experience growth due to the increasing need for applications such as air purification, mercury absorption, and water treatment due to strict government regulations and initiatives to protect the environment. Furthermore, regulations have also led automotive manufacturers to use activated charcoal to reduce vehicle emissions, creating additional growth opportunities.

The market in Latin America is expected to see substantial growth in the coming years, driven by rising consumption in the pharmaceutical and water purification industries for decolorization and deodorization.

In the Middle East & Africa, the market is driven by industrial activities, increasing oil exploration, and low water availability, leading to increased demand for purification applications.

Key Regions and Countries

• North America
  • The US
  • Canada
  • Mexico
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Key Players Analysis

The activated carbon market worldwide is characterized by a high degree of fragmentation, with only a few major players holding a significant market share. There is a lot of competition due to the many multinational players in the market. These companies want to invest in research to improve their product differentiation.

Both governments and companies are trying to encourage the use of the product in the key end-use sectors. These factors will benefit the activated-carbon market growth over the next forecast period. Cabot Corporation, for example, has integrated all aspects of its business processes. All aspects of raw material procurement, product prep, and distribution are integrated.

Major companies use a complete integration strategy to reduce volatility in raw materials procurement and ensure high-quality production. Prominent players have adopted key strategies such as broadening their range of products and consolidating through mergers and acquisitions.

Leading manufacturers, such as Cabot Corporation and Kuraray Co., Ltd., have a strong presence worldwide and offer various activated charcoal products. These companies have grown their global reach through acquisitions and introducing new products to meet customer needs in different markets. They cater to various industries, including water treatment, pharmaceuticals, food & beverage, and oil & gas. Osaka Gas Chemicals Co., Ltd. also uses advanced technologies to produce various products for different industries, such as air pollution control, water purification, and food and beverages.

The major key players in this industry include CarbPure Technologies, Cabot Corporation, Boyce Carbon, Donau Carbon GmbH, Osaka Gas Chemicals Co, and other key companies.

Маrkеt Кеу Рlауеrѕ

• CarbPure Technologies
• Cabot Corporation
• Boyce Carbon
• Jacobi Carbons Group
• CarboTech AC GmbH
• Kuraray Co.
• Haycarb (Pvt) Ltd.
• Kureha Corporation
• Donau Carbon GmbH
• Calgon Carbon Corporation
• Carbon Activated Corporation
• Albemarle Corporation
• Osaka Gas Chemicals Co
• Silcarbon Aktivkohle GmbH
• Evoqua Water Technologies LLC
• Oxbow Activated Carbon LLC
• Other Key Players

Recent Key Developments

• In April 2023, Calgon Carbon said it made a deal with a big water treatment company to supply activated carbon for a long time. It will start in 2024.
• In May 2023, Kuraray created a new kind of activated carbon that is better at cleaning water from pollutants. The new activated carbon will be used in various water treatment processes.
• In June 2023, Cabot Corporation expanded its activated carbon production in China. It will finish in 2024 and will increase their production by 50%.

Report Scope