According to our latest market study on “Activated Carbon Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type and Application,” the market is expected to grow from US$ 4,350.6 million in 2021 to US$ 8,264.0 million by 2028; it is estimated to grow at a CAGR of 9.6% from 2021 to 2028. The report highlights key driving factors and prominent market players along with their developments in the activated carbon market.
Activated carbon is the adsorbent utilized in industries for the adsorption of organic and inorganic materials. It is majorly used in various applications, such as water treatment and food & beverages.
The increasing application of activated carbon in the water treatment industry boosts the activated carbon market growth. It can be attributed to the growing demand for sustainable energy, as the urban wastewater treament plant results in the recovery of resources form the waste and leds to biomass energy formation form the sludge during clean water production. The rising use of activated carbon for water and air purification in developing regions, such as Asia Pacific, the Middle East & Africa, and South & Central America, created a huge impact on the market. The concept of wastewater treatment in these regions is aligned to reduce water scarcity and fulfill the requirement of water for daily needs.
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Impact of COVID-19 Pandemic on Activated Carbon Market
Due to the COVID-19 pandemic, many industries, such as the chemical & materials, faced unprecedented challenges due to disruptions in the global supply chain that adversely affected the manufacturing, delivery schedules, and sales of various goods. The demand for activated carbon has decreased due to a decline in the growth of several industrial sectors. Many activated carbon production sites were either partially or fully closed to combat the spread of SARS-CoV-2. The COVID-19 pandemic also caused fluctuations in the raw material prices of activated carbon. However, as the economies plan to revive their operations, the demand for activated carbon is expected to rise globally. The high demand for activated carbon and significant investments by prominent manufacturers are expected to drive the market growth in the coming years.
Major key players covered in this report:
Osaka Gas Chemical Co. Ltd; KURARAY CO., LTD.; HAYCARB (PVT) LTD.; Cabot Corporation; KUREHA CORPORATION; Activated Carbon Technologies Pty Ltd; Albemarle Corporation; CPL Activated Carbons; JACOBI CARBONS GROUP; Calgon Carbon Corporation; and James Cumming & Sons Pty Ltd. are among the key players in the market. These market players are highly focused on developing high-quality and innovative products and expanding the product portfolio to meet the customer’s requirements.
The report segments of the activated carbon market are as follows:
By type, the global activated carbon market is segmented into powdered, granular, and pelletized & others. By application the market is segmented into water treatment, food & beverages, pharmaceutical, automotive, and others. By geography, the market is segmented into five main regions North America, Europe, Asia Pacific, the Middle East and Africa, and South and Central America.
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The purposes of this analysis are:
- To characterize, portray, and check the Activated Carbon market based on product type, application, and region.
- To estimate and inspect the size of the Activated Carbon market (in terms of value) in six key regions, specifically, North and South America, Western Europe, Central & Eastern Europe, the Middle East, Africa, and the Asia-Pacific.
- To estimate and inspect the Activated Carbon markets at country-level in every region.
- To strategically investigate every sub-market about personal development trends and its contribution to the Activated Carbon market.
- To look at possibilities in the Activated Carbon market for shareholder by recognizing excessive-growth segments of the market.
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