The Global Activated Carbon Market Size is Expected to Reach USD 16.44 Billion in During Forecast Period
NEW YORK CITY, NEW YORK, UNITED STATES, November 29, 2022 /EINPresswire.com/ — The global activated carbon market size is expected to reach USD 16.44 Billion in 2028 and register a revenue CAGR of 8.8% over the forecast period, according to a latest report by Reports and Data. Increasing need for air purification across the world owing to rise in air pollution levels is expected to drive the market revenue growth during the forecast period. The effects of air pollution on environment causing climate change and acting as a serious threat to human health is resulting in the establishment of strict air pollution control measures. Rising number of cases related to respiratory diseases, different types of allergies, and circulatory problems are increasing the need to ensure best quality of air. Governments of several countries are establishing stringent standards in order to curb air pollution and are highly recommending activated carbon for air purification. Moreover, the increasing demand for air purification systems among residential as well as commercial buildings in order to enhance indoor air quality is projected to boost the revenue growth of the market during the forecast period. In air conditioners, activated carbon filter is utilized to prevent contamination or corrosion of precision equipment, art objects, and to purify ventilation air. In gas masks, it is used to adsorb volatile organic compounds and impregnated carbon is used to adsorb acid gas, special gas, and alkaline gas.
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Major companies in the market include Cabot Corporation, Donau Carbon GmbH, Activated Carbon Technologies, Kuraray Co., Ltd, Osaka Gas Chemicals Co., Ltd., Haycarb PLC, ADA-ES, Inc., Albemarle Corporation, Evoqua Water Technologies LLC, and Kureha Corporation.
Some Key Highlights in the Report
In June 2020, Calgon Carbon Corporation announced that it is expanding its capacity at its Pearlington, Mississippi plant by adding a second virgin activated carbon production line. The new production line is expected to increase capacity by 50 Million pounds of granular activated carbon per year. The expansion is expected to add 38 jobs at the plant and enable activated carbon products of the company to be used to clean the world’s air and water on a large scale. The estimated investment in the additional production line would be USD 185 Million. This USD 185 Million expansion is expected to further boost production capacity, increasing investment in their natural resources for future generations.
Powdered activated carbon segment is expected to account for largest revenue share in global activated carbon market over the forecast period owing to its ease of use and economic advantages. The low capital cost associated with powdered activated carbon feed system combined with the ability to apply powdered activated carbon seasonally, make it an economical alternative based on an annualized cost.
Gaseous segment is expected to register significant revenue growth over the forecast period. Increasing demand for gas-phase application in comparison to liquid phase application owing to the rising demand for air purification, is boosting the revenue growth of the segment.
Air-Purification segment is expected to account for a considerable revenue share in global activated carbon market. Increasing demand for air purification among residential and commercial buildings owing to rising air pollution levels across the world is boosting the application of activated carbon in purification.
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Product Type Outlook (Revenue, USD Billion; Volume, Kilo Tons, 2018-2028)
Application Outlook (Revenue, USD Billion; Volume, Kilo Tons, 2018-2028)
End Use Outlook (Revenue, USD Billion; Volume, Kilo Tons, 2018-2028)
Food & Beverages
Key Regional Markets Covered in the Report:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
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