New York, Aug. 24, 2021 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global activated carbon market is anticipated to generate a significant revenue at a CAGR of 9.5% during the forecast period, 2019-2026.
The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market such as growth factors, challenges, restraints, and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
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Dynamics of the Market
Drivers: One main reason enhancing the growth of the activated carbon market is the increasing demand of water treatment processes in the manufacturing industries. With the surge of many contaminated diseases, the demand of pure drinking water has been increased.
Restraint: The fluctuating price and unavailability of raw materials are the restraining factors behind the market growth during the forecast period.
Opportunity: Improving health consciousness among the global population is expected to create many opportunities during the upcoming years.
Key Segments of the Market
The report has divided the market into different segments based on type, application, end-use industry, and regional analysis.
Type: Powdered Sub-Segment Expected to be the Most Lucrative
Powdered sub-segment is anticipated to generate the maximum revenue of $5,387.6 million by the end of 2026. The main factor behind the growth is the increasing use of powdered type products in the coal plants to remove air pollutants.
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Application: Liquid Phase Sub-Segment Expected to be the Most Profitable
Liquid phase sub-segment registered a revenue of $2,683.7 million in 2018 and is further expected to grow at a significant rate of 9.3% during the forecast period. The liquid activated carbon helps in eliminating odor causing chemicals and removal of heavy metals such as lead, chlorine, and other contaminants found in the unpurified water. These are the factors enhancing the growth of the global liquid phase market segment during the forecast period.
End-Use: Water Treatment Sub-Segment Predicted to be the Most Beneficial
The water treatment sub-segment is anticipated to generate a significant revenue during the forecast period. The main factors enhancing the growth of the market segment include the increasing demand for pure drinking water and biodegradable water for production processes in the manufacturing industries.
Regional Insight: North America Expected to Dominate the Market
North America regional market is predicted to continue its dominance during the forecast period. The main reason behind this growth is the extensive usage of activated carbon materials in different industries including manufacturing and wastewater treatment industries.
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Key Players of the Market
The most prominent players of the global activated carbon market include
- Calgon Carbon Corporation
- Oxbow Activated Carbon LLC
- Cabot Corporation
- Silcarbon Aktivkohle GmbH
- Kuraray Co. Ltd
- Osaka Gas Chemical Co. Ltd.
- Evoqua Water Technologies LLC
- Jacobi Carbons AB
- Carbon Resources LLC
- Carbon Activated Corp.
- Carbo Tech AC GmbH
- Siemens Water Technologies Corp. among many others.
These players are working on developing strategies such as product development, merger and acquisition, partnerships and collaborations to sustain the market growth.
Recent Development
In April 2020, Cabot Corporation, an American specialty chemicals and performance materials company, completed its acquisition of Shenzhen Sanshun Nano New Materials Co., Ltd (SUSN). SUSN is a leading carbon nanotube (CNT) producer in China. The acquisition significantly strengthens Cabot’s market position and formulation capabilities in the high-growth batteries market, particularly in China, which is the largest and fastest growing electric vehicle market in the world.
In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report
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