Activated Carbon Market Share, Size, Price, Strategy, Overview, Demand, Outlook and Forecast 2021-2030
The global activated carbon industry size was valued at USD 4.77 billion in 2021 and is expected to reach a valuation of USD 4.98 billion in 2022. The market is expected to reach USD 7.73 billion by 2030 with a CAGR of 5.6% during the forecast period. Rise in water and air pollution is expected to increase the demand for water and air treatment machines. Demand for safe and potable water and continuous treatment of wastewater in various end-user industries is expected to drive market growth. Fortune Business Insights™ shares this information in its report titled “Activated Carbon Market, 2022-2030.”
Segments
Granular Segment to Lead the Segment Due to Application in Various End-user Industries
On the basis of type, the market is segmented into powdered, granular, and others. Granular Activated Carbon (GAC) is expected to be the fastest growing segment due to its high demand in various end-user industries such as air & gas purification and water treatment. Growing demand for GAC is due to its easy reusability and regeneration which is expected to increase the market share of the segment.
Powdered Activated Carbon (PAC) is also anticipated to have a considerable growth due to its major application in water treatment.
Water Treatment Segment to Dominate Owing to its Ability to Adsorb Various Compounds
On the basis of application, the market is segmented into water treatment, air & gas purification, food & beverage, pharmaceutical & healthcare treatment, and others. The water treatment segment will lead the market due to its ability to adsorb organic compounds, oils, toxic substances, and odor & taste compounds. It is widely used owing to its high porosity. The food and beverage segment is also expected to have a considerable growth owing to increasing attention of consumers toward food safety and quality.
Regionally, the market is grouped into North America, Europe, Latin America, and the Middle East & Africa.
Drivers and Restraints
Rise in Water and Air Pollution to Thrust Product Demand
Growing need for safe and potable water is projected to drive the activated carbon market growth. Development in the market is attributed to the property of the product having a high surface area for adsorption that can remove impurities such as taste, odor, microbes, and oils imparting substances. Increasing levels of water and air pollution have proposed government authorities to treat industrial water waste. This is applicable in various industries, such as paper & pulp, paints & dyes, and chemicals, to install water treatment units.
However, high prices of raw materials due to shortage are anticipated to hinder market development.
Browse Detailed Summary:
https://www.fortunebusinessinsights.com/activated-carbon-market-102175
Leave a Comment:
To notify a previous commenter, mention their user name: @peter or @peter-smith if there are spaces.
