Global activated carbon market size would surpass an overall valuation of US $13.44 billion by 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2026.
Activated carbon is extensively used as an adsorbent and is a prominent component in a plethora of industrial processes. The material is composed of micro porous and homogenous structures with larger surface areas, which showcase immense stability when exposed to radiation.
Strict regulatory frameworks, particularly across regional markets in China and U.S., are slated to drive expansion of activated carbon market in forthcoming years. All throughout these markets, and other industrially developing nations, strict regulations are putting great emphasis on mercury removal. The regulations and their stepped-up enforcements are stemming from a number of ongoing efforts to combat water and air pollution caused by rapid industrialization.
Growing manufacturing activities across numerous developing countries are also fueling product demand throughout, bringing further growth to the activated carbon market. Increasing and developing output from the global chemical and pharmaceutical sector is further augmenting product demand, specifically owing to an increasing need for activated carbon to purify feed water along with numerous other components during the manufacturing process.
Additionally, the rise in annual production of automobiles is also supporting growing demands for activated carbon, primarily attributing to the facts that several developed and developing countries maintain rigorous automobile emission standards. These emission standards boost the need for bigger activated carbon-based canisters.
Recently, activated carbon injection technology has amassed immense popularity as a prominent technology for eliminating mercury, particularly in coal-fired power plants, industrial boilers, cement production facilities, and solid waste incinerators, cites the study.
Canada as well as a number of European nations have introduced mercury emission standards, although they are not as strict as that of the United States. In fact, the Disinfection byproduct limit for water that is being utilized for consumption is slated to provide a sizable boost to the activated carbon market over the forecast timeframe.
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While this is a mature application for a number of developed nations, for emerging economies, particularly the ones in the Asia Pacific region, it is a lucrative end-use segment. Certain factors that are anticipated to hinder industry expansion include tedious activated carbon import and export process, the material’s inability to retain a level of full efficiency, and the growing availability of inexpensive and effective alternatives.
From a regional perspective, the North America led the global activated carbon market back in 2017. The introduction of new mercury and air toxic standards by the U.S. Environment Protection Agency would be the primary factor behind escalating activated carbon demand in North America during the forecast time period.
The Asia Pacific activated carbon industry is expected to witness the fastest growth rate in forthcoming years, cites the report. China is a leading avenue of growth in the region and the country’s new five years plan to reduce emissions and pollution is expected to drive activated carbon demand across the region in the coming years.
Some prominent industry leaders profiled in the activated carbon market report include Prominent Systems Inc., Oxbow Activated Carbon LLC, Donau Carbon GmbH, Silcarbon Aktivkohle GmbH, Haycarb PLC, Kureha Corporation, Calgon Carbon Corporation, Kuraray Co. Ltd, Osaka Gas Co., Ltd. and Cabot Corporation.