Pune, June 19, 2020 (GLOBE NEWSWIRE) -- The global activated carbon market size is projected to reach USD 4.09 billion by the end of 2026. The increasing applications of activated carbon across diverse industry applications will emerge in favor of market growth. According to a report published by Fortune Business Insights, titled “Activated Carbon Market Size, Share & Industry Analysis, By Form (Powdered, Granular, and Others), By Application (Water Treatment, Air & Gas Purification, Food & Beverage, Others), and Regional Forecast, 2019-2026,” the market was worth USD 2.73 billion in 2018 and will exhibit a CAGR of 5.2% till 2026.
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Activated carbon is an adsorbent used that has the ability to selectively adsorb organic and inorganic materials. The product contains low volume pores and has a large internal surface area. The applications of activated carbon include industrial wastewater treatment, flue gases, oils, and other gaseous products. The huge investments in extraction methods associated with this product will emerge in favor of the growth of the overall market in the coming years. The product is obtained from coconut shell, wood, bamboo, and coal. Advancements in collaborative technologies for purification of liquids and gases, with the help of activated carbon will create several growth opportunities for the companies operating in the market. The presence of several large scale companies in the market will also contribute to the market growth. The use of technologies such activated carbon injection (ACI) is growing rapidly in cement kilns and power plants. The constantly rising demand and applications of the product will open up a huge potential for rapid growth.
Increasing Number of Company Mergers will Bode Well for Market Growth
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Among all factors, the increasing number of company mergers and acquisitions has made the highest impact on market growth. Accounting to the constantly rising demand for activated carbon across the world, several companies are looking to collaborate with each other, with the aim of acquiring a wider consumer base across the world. In September 2018, Kuraray Co. Ltd. announced that it has completed the acquisition of Calgon Carbon Corporation. Through this acquisition, the company will operate as a separate subsidiary and function as part of the Function Materials Company of Kuraray. Kuraray’s latest acquisition of Calgon will not just help the company grow, but will play a huge part in the growth of the activated carbon market in the foreseeable future.
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Asia Pacific to Emerge Leading; Increasing Applications in Wastewater Treatment Will Aid Growth
The report analyses the latest market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in Asia Pacific is expected to emerge dominant in the coming years. The increasing use of activated carbon in wastewater treatment plants, especially in densely populated countries such as China and India will aid the growth of the regional market. The constantly rising population in several countries in the Asia Pacific has created the need for safe and clean water. This will lead to a wider adoption and use of activated carbon in the coming years. As of 2019, the market in Asia Pacific held the highest market share with a value of USD 0.71 billion and this value is projected to increase at a considerable pace in the coming years.
List of the Key Players Operating in the Activated Carbon Market are:
- Osaka Gas Chemicals Co., Ltd.
- Donau Carbon GmbH
- Cabot Corporation
- PURAGEN ACTIVATED CARBONS
- CARBOTECH AC GMBH
- Kuraray Co., Ltd.
- KUREHA CORPORATION
- Activated Carbon Technologies
- Silcarbon Aktivkohle GmbH
- Ingevity
- Iluka Resources
- James Cumming & Sons
- Universal Carbons (India)
- Carbon Activated Corporation
- Troxnox
- Active Char Products
- Adsorbent Carbons
- Genuine Shell Carb
- Indo German Carbons
- Other Players
Industry Developments:
September 2016: Cabot Norit Activated Carbon announced the launch of a new high-performance product named DARCO H2S HF for odor control applications. This product provides superior hydrogen sulfide, removes odor, and is used in sewage treatment by reducing system pressure drop.
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