The latest market report published by Credence Research, Inc. “Activated Charcoal Market: Growth, Future Prospects, and Competitive Analysis, 2019 – 2027” the activated charcoal market was valued at US$ 4.64 Bn in 2018 and expected to reach US$ 11.12 Bn by 2027 at a CAGR of 10.3% throughout the forecast period from 2019 to 2027.
Evolving need to control carbon emission will spur revenue growth during the forecast period
The increasing need for purification coupled with regulations related to water and air pollution concerns across the globe plays a vital role in proliferating the demand of activated charcoal market. Activated charcoal also known as activated carbon, the global market estimated to increase due to rising emphasis for controlling industrial air pollution by adopting mercury control technology for air purification. In addition, activated carbon has many different uses in medical applications. The adsorptive properties together with ability to develop remarkable purity in naturally occurring products have led to its assimilation into the drugs themselves. However, factors such as consolidating markets, increased costs and availability of substitutes such as silica gel and super sand expected to hamper the growth of the activated charcoal market.
Global demand for activated charcoal market in terms of volume was 2339.61 metric tons (in 000’s) in 2018 and projected to grow at a CAGR of 10.3%. Increasing manufacturing activities in numerous developing nations supports the proliferating demand for activated charcoal. Prompt growth in output from the healthcare industry and chemical industry requires increased usage of activated charcoal to purify wastewater and other components in the manufacturing process. Increased production of automotive also expected to boost the demand of activated charcoal market, as governments of both developing and developed countries are implementing coming up with stringent regulatory standards for carbon emissions. Thus, the activated charcoal market growth will spur in the forecast period.
• 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.
• In June 2019, Jacobi Carbons has entered into an agreement to supply activated carbon to Air 2 Public GmbH for efficient removal of NOx from street air.
Key Market Movements
• Globally, the activated charcoal market is rising at a CAGR of 10.3% for the period of 2019 to 2027.
• A rising trend is to push the usage of reactivated charcoal. Reactivation of charcoal can be an effective substitute to activated charcoal production due to lower cost of disposal and a reduced CO? emission footprint for reactivated charcoal.
• Stringent regulatory standards particularly in the U.S. and China will drive the growth of the market.
• Asia Pacific is the largest revenue-contributing region of the activated charcoal market with more than 25% of market share. Owing to the introduction of stricter standards by governments. For instance, the Chinese government introduced new regulations and standards for water and air treatment and invested significant amount of money in its ecological clean up.
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
Browse the full report at https://www.credenceresearch.com/report/activated-charcoal-market
The Global Activated Charcoal Market is Segmented into:
|Segmentation||By Product Type Segment (2017–2027; US$ Bn)|
|By Application Segment (2017–2027; US$ Bn)|
|By Geography Segment (2017–2027; US$ Bn)|
*Complete segmentation list is on report page