Global Activated Carbon Market By Type (Powdered, Granular, Others), By Raw Material (Wood, Coconut Shells, Coal, and Others), By End User (Water Treatment, Food & Beverage, Pharmaceutical, Automotive, Air Purification, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F
Published Date: December - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Chemicals | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationGlobal Activated Carbon Market By Type (Powdered, Granular, Others), By Raw Material (Wood, Coconut Shells, Coal, and Others), By End User (Water Treatment, Food & Beverage, Pharmaceutical, Automotive, Air Purification, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F
Forecast Period | 2018-2028 |
Market Size (2022) | USD 7.68 billion |
CAGR (2023-2028) | 7.51% |
Fastest Growing Segment | Powdered |
Largest Market | North America |
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Market Overview
Global Activated Carbon Market has valued at USD 7.68 billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 7.51% through 2028. Activated carbon is a processed form of carbon that possesses small, low-volume pores, resulting in an increased surface area for chemical reactions and adsorption. It is produced by processing organic materials with high carbon content. The main property of activated carbon is its physical adsorption capability, which proves valuable in various applications such as purification, decaffeination, metal finishing, medicine, filtration, pollutant removal, and fuel storage. Both liquid and gaseous phases of activated carbon contribute to its effectiveness in removing lead, dissolved radon, mercury, and other compounds responsible for unpleasant odors. The rising health risks associated with consuming impure water have become a growing concern among consumers. The demand for activated carbon is driven by improvements in drinking water treatment, increasing rates of automobile ownership, and the implementation of higher manufacturing and environmental standards. Countries like China and India are investing in water purification plants, thereby amplifying the demand for activated carbon. Government initiatives regarding subsidies and industrialization further fuel the growth of the activated carbon market. Additionally, the market experiences growth due to the demand for mercury control technology in industrial air purification applications. To expand the market for activated carbon, geographic expansion and the development of new products present promising opportunities.
Key Market Drivers
Rise in Utilization of Activated Carbon in Water Treatment
A significant driving force behind this market expansion is the increasing utilization of activated carbon in water treatment applications. Access to clean and safe drinking water is an essential requirement for human health and well-being. With the growing population, industrial activities, and pollution levels, ensuring the availability of clean water has become a global challenge. Consequently, there is a rising demand for efficient water treatment solutions capable of removing contaminants and impurities from water sources. Activated carbon, renowned for its exceptional adsorption capabilities, has emerged as a highly effective tool in water treatment processes. Its wide usage in water treatment can be attributed to its ability to adsorb organic compounds, chemicals, and pollutants present in water. It effectively eliminates impurities like chlorine, pesticides, heavy metals, and volatile organic compounds (VOCs), thereby enhancing the quality and safety of drinking water. The utilization of activated carbon in water treatment not only improves the taste and odor of water but also eliminates potential health risks associated with various contaminants. The increased awareness regarding waterborne diseases and the adverse effects of contaminated water on public health has led to a heightened emphasis on water quality. Activated carbon, capable of removing a wide range of organic and inorganic impurities, has gained prominence in water treatment processes. Governments and regulatory bodies worldwide have implemented stringent regulations on water quality standards, mandating the removal of specific pollutants and contaminants from wastewater before it is discharged into the environment or reused. The superior adsorption properties of activated carbon make it an ideal choice for meeting these regulatory requirements. Advancements in water treatment technology have resulted in the development of more efficient and cost-effective activated carbon filtration systems. Innovations such as granular activated carbon (GAC) filters, powdered activated carbon (PAC), and activated carbon block filters have expanded the application areas of activated carbon in water treatment.
Growing Demand of Activated Carbon in Pharmaceutical Industry
Activated carbon, a highly porous material with a substantial surface area, is extensively utilized in the pharmaceutical industry. Its exceptional adsorption properties make it an indispensable component in various pharmaceutical processes, encompassing purification, decolorization, deodorization, and impurity removal. Activated carbon is widely employed in drug manufacturing, raw material purification, solvent recovery, and water treatment within pharmaceutical facilities. In the pharmaceutical industry, ensuring the purity and quality of drugs holds paramount importance. Activated carbon plays a pivotal role in purifying raw materials, including active pharmaceutical ingredients (APIs), excipients, and solvents. It effectively eliminates impurities such as colorants, odors, heavy metals, and residual chemicals, thereby augmenting the purity and safety of pharmaceutical products. As regulations become more stringent, the demand for activated carbon in drug purification processes is anticipated to escalate. Activated carbon is utilized in pharmaceutical manufacturing to eradicate toxic substances and contaminants from APIs and intermediates. It acts as a potent adsorbent, eliminating trace impurities that may prove detrimental or compromise the efficacy of drugs. The growing emphasis on product safety and regulatory compliance propels the demand for activated carbon in the pharmaceutical industry. The industry is progressively embracing sustainable practices to mitigate its environmental impact. Activated carbon, being a natural and renewable resource, aligns well with these sustainability goals. Its employment in solvent recovery processes aids in waste reduction and minimizes the environmental footprint of pharmaceutical manufacturing. The focus on sustainable practices within the industry further amplifies the demand for activated carbon.
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Key Market Challenges
Volatility in Prices of Raw Materials
The production of activated carbon involves the utilization of specific raw materials such as wood, coconut shells, coal, and other organic substances. These raw materials undergo a process called activation, which creates a highly porous structure with an increased surface area. The quality, availability, and cost of these raw materials significantly influence the production costs and market dynamics of activated carbon. Price volatility in raw materials can result in imbalances between supply and demand, leading to fluctuations in the availability of activated carbon. Shifts in supply can disrupt manufacturing processes and create uncertainties in meeting customer demands. Moreover, sudden price increases or shortages of raw materials may prompt manufacturers to seek alternative sources or substitute materials, affecting product quality and consistency. Fluctuating raw material prices directly impact the cost structure of activated carbon manufacturing. When raw material prices rise, manufacturers face higher production costs, which can lead to reduced profit margins if they are unable to pass on these costs to customers. On the other hand, when raw material prices decline, manufacturers may struggle to maintain profitability, especially if they have already made significant investments at higher prices. Price volatility in raw materials influences the pricing strategies adopted by activated carbon manufacturers. When raw material prices surge, manufacturers may be compelled to increase product prices to maintain profitability. However, this could potentially affect their competitiveness in the market, as customers may seek lower-cost alternatives or explore different adsorbent options. Balancing cost pressures with maintaining a competitive edge can be challenging for manufacturers. Price volatility makes long-term planning and forecasting difficult for activated carbon manufacturers. Fluctuating raw material costs make it challenging to accurately predict future production costs and revenue streams. This uncertainty can hinder investment decisions, capacity expansions, and business growth strategies, as manufacturers must carefully assess the risks associated with raw material price fluctuations.
Stringent Environmental Regulations
In response to growing concerns about pollution and climate change, governments worldwide have been enacting stringent environmental regulations. These regulations set standards for emissions, waste management, and the use of potentially harmful substances. The activated carbon industry, like many others, must comply with these regulations to ensure sustainable and environmentally responsible operations. Stringent environmental regulations require industries to invest in technologies and processes that minimize their environmental impact. For activated carbon manufacturers, this means adopting cleaner production methods, implementing advanced emission control systems, and ensuring proper waste disposal. These measures often come with high upfront costs and ongoing expenses, which can strain the financial resources of smaller manufacturers and potentially limit market entry. Environmental regulations are subject to continuous updates and revisions. As governments become more aware of emerging pollutants and new risks, they adjust the regulatory framework accordingly. This constant evolution poses challenges for activated carbon manufacturers, who must stay updated and compliant with changing requirements. Failure to meet these evolving standards can result in fines, penalties, or even the suspension of operations. Stricter environmental regulations may require activated carbon manufacturers to meet specific performance criteria, such as higher removal efficiencies for pollutants or reduced emissions. Meeting these requirements may necessitate changes in production processes or the development of new formulations. Manufacturers must invest in research and development to ensure their products remain effective while complying with environmental regulations, which can add complexity and costs to the production process. Complying with stringent environmental regulations can impact the competitiveness of activated carbon manufacturers on a global scale. Companies that fail to meet regulatory standards may face restrictions or bans on their products, limiting their market access. Additionally, manufacturers located in regions with less stringent regulations may enjoy cost advantages due to lower compliance costs. This disparity can create an uneven playing field for companies operating in different jurisdictions.
Key Market Trends
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Growth in Technological Advancements
The global activated carbon market has witnessed significant growth in recent years, driven by its diverse applications in water treatment, air purification, and industrial processes. One of the key trends shaping this market is the rapid growth in technological advancements. Innovations in production processes, product design, and application techniques have revolutionized the activated carbon industry, enabling enhanced performance and efficiency. This article explores the impact of technological advancements on the global activated carbon market. Technological advancements have led to the development of more efficient and sustainable manufacturing processes for activated carbon. Traditional methods, such as physical activation and chemical activation, have been enhanced through automation and optimization. New techniques, such as microwave activation and carbonization, offer faster production rates, higher yields, and improved product quality, thereby driving market growth. Innovations in product design have resulted in the development of activated carbon with tailored properties and improved performance characteristics. Researchers are exploring new materials and formulations to optimize surface area, pore size distribution, and adsorption capacity. These advancements enable activated carbon to effectively remove volatile organic compounds (VOCs), heavy metals, and other contaminants from air and water sources, expanding its range of applications. The integration of nanotechnology into the production of activated carbon has opened up new possibilities for improved performance. Nanoparticles, such as graphene and carbon nanotubes, can enhance the adsorption capacity and selectivity of activated carbon. Additionally, composite materials combining activated carbon with polymers or other substances offer enhanced mechanical strength, stability, and regeneration capabilities. Technological advancements have allowed for the customization of activated carbon products to suit specific applications. For instance, activated carbon impregnated with metal oxides or catalysts can be used for gas purification or catalytic reactions. Furthermore, advancements in manufacturing techniques have facilitated the production of activated carbon in various forms, including pellets, granules, fibers, and powdered forms, to cater to different process requirements. The implementation of digital technologies and automation systems has streamlined production processes and improved overall efficiency. Real-time monitoring and control systems optimize resource utilization, reduce energy consumption, and enhance product quality. Automation also enables manufacturers to meet stringent environmental regulations by ensuring precise dosing and minimizing waste generation during production.
Segmental Insights
Type
In 2022, the Activated Carbon market was dominated by powdered segment and is predicted to continue expanding over the coming years.
End User Insights
In 2022, the Activated Carbon market was dominated by water treatment segment and is predicted to continue expanding over the coming years.
Regional Insights
The North America region has established itself as the leader in the Global Activated Carbon Market.
Recent Developments
- In February 2023, Evoqua Water Technologies made an announcement regarding the acquisition of the industrial water treatment service business formerly owned by Bob Johnson & Associates in Texas, from Kemco Systems. This agreement includes the business accounts for Waxahachie and Houston regions, along with the carbon tank and deionization (DI) assets. This expansion is anticipated to strengthen Evoqua's service and aftermarket business in Texas.
- In March 2022, One Equity Partners, a private equity firm, disclosed the acquisition of Norit Activated Carbon, a manufacturer of activated carbon for purification solutions, from its parent company Cabot Corporation. Norit is widely recognized for its diverse portfolio of activated carbon products used for purification purposes in major sectors such as food and beverage, renewable natural gas, pharmaceuticals, chemicals, automotive, and water.
- In February 2023, Evoqua Water Technologies entered into a definitive agreement for the divestment of its carbon reactivation and slurry operations to DESOTEC. This includes the workforce, reactivation facilities, and associated equipment of the product line in Pennsylvania and Arizona, as well as the reactivation and carbon vessel manufacturing plant in California. DESOTEC is a renowned name in Europe for industrial mobile filtration solutions based on activated carbon technology.
- In June 2021, CPL Activated Carbons introduced its largest high-flow mobile carbon filter, branded as HF20V VOCSorber. Standing at a towering height of 8 meters, this groundbreaking product has the capability to purify gas flows exceeding 40,000 m3/h. Consequently, it proves to be an ideal solution for general air treatment across various sectors and industries, catering to odor control, VOC abatement, and ammonia removal requirements. VOCSober family represents a sub-category within the esteemed Clean-Flo mobile carbon filters range, boasting pre-filled activated carbon.
- In October 2022, Kuraray announced the commencement of full-scale operations at its expanded Feluy facility in Belgium, which serves as the European base of its subsidiary, Calgon Carbon Corporation, Chemviron S.A. Prior to this, the company successfully conducted test operations of the reactivated carbon production facilities at the plant, enabling Calgon Carbon to provide a stable supply of activated carbon globally.
- In March 2022, Cabot Corporation divested its activated carbon unit, Norit Activated Carbon, to One Equity Partners. Subsequent to the divestiture, Norit Activated Carbon established itself as an independent company, delivering a comprehensive range of activated carbon solutions through its 10 production facilities across seven countries, serving its valued customers.
Key Market Players
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