The global activated carbon market is expected to reach USD 5.31 billion by 2020, according to a new report by Grand View Research, Inc. Increasing demand from water purification and air filtration segment is expected to drive market growth over the next five years. Activated carbon is widely preferred in these end-use applications owing to excellent adsorption properties.
Rapid industrialization coupled with population expansion in emerging economies of Asia Pacific, Middle East and Latin America is anticipated to drive market growth. Stringent government regulations specifically in the U.S. and Europe, in order to remove mercury are projected to propel market demand. Increasing application scope in end-use industries such as automotive, food & beverage and pharmaceutical is projected to fuel demand over the forecast period.
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Powdered activated carbon (PAC) form accounted for over 55% of the market volume in 2013. It finds wide application scope in water treatment application such as municipal treatment, process water treatment in beverage production and groundwater remediation. Granular activated carbon (GAC) form is anticipated to grow at a CAGR of 11% from 2014 to 2020 owing to increasing demand from gas purification application
Further key findings from the report suggest:
- Global activated carbon demand was 1,379 kilo tons in 2013 and is expected to grow at a CAGR of 11.7% from 2014 to 2020.
- Liquid phase was the largest application segment and accounted for 55% of the total market volume in 2013. Gas phase is anticipated to be the fastest growing application segment with a CAGR of 12.8% from 2014 to 2020.
- Air purification emerged as the largest end-use segment and accounted for 36.5% of the total market volume in 2013. Asia Pacific emerged as the largest regional market and is expected to grow at a CAGR of 13.0% from 2014 to 2020.
- Global activated carbon market is moderately consolidated with presence of large scale companies. Some of the major companies operating in the global industry include Kurary Corporation, Cabot Corp., Meadwestvaco Corp., Jacobi Carbons, Carbon Resources LLC, Seimens Water Technologies and Carbotech. Other players operating in the market include Haycarb PLC, ADA-ES Inc., Carbon Activated Corporation and Clarimex Group.