According to a market research report, the Activated Carbon Market by Type (Powdered Activated Carbon, Granular Activated Carbon), Application (Liquid Phase Application, and Gas Phase Application), End-Use Industry, Raw Material and Region – Global Forecast to 2028″, size is estimated to be USD 4.4 billion in 2023, and it is projected to reach USD 7.0 billion by 2028 at a CAGR of 9.5%. Activated carbon, also known as activated charcoal, is a form of carbon that has been treated to make it highly porous and able to adsorb substances. Activated carbon is widely used in a variety of applications, including air and water purification, food and beverage processing, pharmaceuticals, and environmental remediation.
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526 Market data Tables
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The market is segmented on the basis of several types of activated carbon such as powdered activated carbon, granular activated carbon, and others. Activated carbon is used in several applications such as liquid phase application, and gas phase applications. In addition to this, activated carbon is also used in numerous end-use industries such as water treatment, food & beverages, pharmaceutical & medical, automotive, industrial, and others. Moreover, the production of activated carbon is depend upon the use of several types of raw materials such as: coal, coconut, peat, wood, and others.
This report also provides a comprehensive analysis of the companies listed below:
The major Players in activated carbon market includes Kuraray Co., Ltd.(Japan), Osaka Gas Chemicals Co. Ltd. (Japan), Haycarb Pvt. Ltd.(Sri Lanka), Norit (Netherlands), and Kureha Corporation (Japan), and others are covered in the specialty activated carbon market. These players have adopted various growth strategies to strengthen their position in the market.
Merger & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the activated carbon market.
Recent Developments in Activated Carbon Market
In March 2023, Evoqua Water Technologies LLC acquired the Texas-based industrial water treatment service business of Bob Johnson & Associates from Kemco Systems to further strengthen its footprint in North America.
In August 2022, Ingevity acquired Nexeon Limited to establish its presence in the electric vehicle (EV) market and expand the opportunities of its existing activated carbon business.
In October 2021, Evoqua Water Technologies LLC opened a new Sustainability and Innovation Hub in Pittsburgh, Pennsylvania (US), to carry out cutting-edge technologies for water treatment.
In March 2021, Daigas Energy Co., Ltd. (a subsidiary of Osaka Gas Chemicals Co., Ltd.) has partnered with Miura Co., Ltd. and Aquas Corporation (Japan) to provide water treatment services to customers.
In March 2021, Evoqua Water Technologies LLC announced the expansion of its existing Global Engineering and Technology Center, located in Chennai, India.
In February 2021, Ingevity announced the expansion of an activated carbon manufacturing plant in China.
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Kuraray Co., Ltd. (Japan) is a publicly traded, and engaged in the production of a wide range of resins, high-performance materials, fibers, medical products, synthetic rayon, and activated carbon, with its headquarters in Tokyo, Japan. The company has 5 reportable segments such as Vinyl acetate, Functional materials, trading, isoprene, fibers, and textile. The company has a strong global presence in Asia Pacific, North America, South America, and Europe, to cater to the demands of the products.
Osaka Gas Chemicals Co. Ltd. (Japan) is a Japan-based manufacturing firm, which sells its products and services in the field of energy, fine materials, and carbon products. The company operates through three business segments such as Domestic energy, Life & Business Solutions, and International Energy. The company has a strong foothold in North America, Europe, and Asia Pacific and serves its customers effectively.
Haycarb Pvt. Ltd. (Sri Lanka) is a leading coconut shell based activated carbon manufacturer and marketer. It operates through Activated Carbon, Water, Air & Gas, Food & Beverages, Energy, Gold, Specialty, Environmental Engineering, Purification Associate, and Leisure Associate segments. The company manufactures a complete range of standard, washed, and impregnated granular-activated, powder-activated, and extruded-pellet–activated carbon for a full spectrum of applications in water treatment, air treatment, gold recovery, food and beverage industry, energy storage, and others.
Asia Pacific accounts for the largest share in 2022, in this market. This is attributed to the rapid increase in urbanization, and industrialization which demand pure and clean air & water. This drives the demand for activated carbon across the end-use indsutries. Apart from this, the region also witnessed for the growing food & beverages industry, automotive industry, which also drives the demand for activated carbon. In addition to this, the presence of stringent government regulations, also helps in driving the market of activated carbon during the forecast period.
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