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(MoneyNewsWire.Net, March 28, 2018 ) The global activated carbon market is projected to reach USD 8.12 Billion by 2021, at a CAGR of 9.4% from 2016 to 2021. It is projected to reach 3,857.9 KT, at a CAGR of 8.4% from 2016 to 2021 by volume. Stringent government regulations for emission control, mercury control from power plants, high demand for clean drinking water, and industrial growth in the Asia-Pacific region, especially in ASEAN countries is expected to lead to the high growth of the activated carbon market globally.
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Powdered activated carbon was the fastest-growing segment in the activated carbon market in 2015. Demand for powdered activated carbon in industrial applications such as the pharmaceutical industry for decolorization and deodorization operations is expected to drive the demand during the forecast period. Industrial growth in emerging clusters across the globe such as, the ASEAN countries, North African Countries, and Central & Eastern European countries is expected to drive the demand for activated carbon.
The gaseous phase application is the fastest growing application segment in the global activated carbon market. The use of activated carbon for air purification applications, and the removal of mercury, hydrogen sulfide, and chlorine is expected to drive the global activated carbon market. Moreover, the growing use of hybrid and electronic cars is also expected to drive the demand in the automotive application of the market.
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The Asia-Pacific region led the global activated carbon market, both, in terms of value and volume, in 2015. China is the largest market for activated carbon in the Asia-Pacific region, and accounted for a major share of the market in terms of value, in 2015. However, the increasing demand for activated carbon in India, Indonesia, and South Korea is also expected to drive the market in the region. The ease of availability of raw material across the globe, and increasing development strategies to meet the demand for activated carbon in the established and emerging applications, are expected to be the key growth drivers for activated carbon in this region.
Although the global activated carbon market is growing rapidly, a few factors such as economic slowdown in South America and Western Europe has impeded industrial growth, which in turn is expected to inhibit the activated carbon market.
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Calgon Carbon Corporation (U.S), Osaka Gas Co. Ltd (Japan), Cabot Corporation (U.S), Haycarb PLC (Sri Lanka), Kuraray Chemical Co. Ltd (Japan), KUREHA CORPORATION (Japan), Donau Carbon GmbH (Germany), Silcarbon Aktivkohle GmbH (Germany), and Oxbow Activated Carbon LLC (U.S) led the global activated carbon market. The diverse product portfolios, strategically positioned R&D centers, adoption of development strategies, and technological advancements, are some of the factors that strengthen the market positions of these companies in the global activated carbon market.
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