Activated Carbon Market Share, Size, Trends, Industry Analysis Report, By Product Type (Granular, Powdered, Others); By Application; By Raw Material; By End-Use; By Region; Segment Forecast, 2024 - 2032
- Published Date:Apr-2024
- Pages: 119
- Format: PDF
- Report ID: PM1477
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
Activated carbon market size was valued at USD 4.12 billion in 2023. The market is anticipated to grow from USD 4.49 billion in 2024 to USD 9.03 billion by 2032, exhibiting a CAGR of 9.1% during the forecast period.
Activated carbon is a type of carbon that has been treated to increase its surface area and adsorption capacity. This process involves heating the carbon to high temperatures, causing it to develop a porous structure that allows it to absorb and retain large amounts of substances, such as impurities and contaminants. The activation process also increases the surface area of the carbon, allowing it to interact more effectively with liquids and gases.
The global activated carbon market is expected to experience significant growth in the coming years, driven by increasing demand from various end-use industries such as water treatment, air purification, and food and beverage processing. The growing awareness of environmental pollution and the need for effective wastewater treatment solutions are also expected to drive the growth of the market. In addition, the increasing use of activated carbon in the production of energy storage devices, such as supercapacitors and batteries, is further expected to boost the market's growth.
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However, several factors hinder the growth of the market, such as the high cost of raw materials used in its production. The availability of alternative technologies, such as membrane filtration and ion exchange resins, can also pose a threat to the market's growth. Also, the pandemic-like situation has had a negative impact on the market, with disruptions in supply chains and decreased demand from certain end-use industries.
Growth Drivers
Rising Demand for Air Purification Devices Drives Market Growth
The increasing demand for air purification devices is a significant driver for the activated carbon market. As people become more health conscious and aware of the negative effects of air pollution, they are seeking ways to improve indoor air quality. Activated carbon is a crucial component in many air purification systems, as it can remove impurities and contaminants from the air. The growing popularity of smart homes and the integration of air purifiers into these systems further boost the demand for activated carbon.
Also, the rise of industrialization has led to increased levels of air pollution, which in turn increases the need for effective air purification solutions. This surging demand for clean air results in higher sales of activated carbon-based air purification devices, driving the growth of the market.
Report Segmentation
The market is primarily segmented based on type, application, raw material, end-user, and region.
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By Application |
By End-User |
By Raw Material |
By Region |
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By Product Type Analysis
The Powdered Activated Carbon Held the Dominating Revenue Share in 2023
The powdered activated carbon segment held the largest revenue share in the global activated carbon market in 2023, owing to its widespread use in various applications such as water treatment, air purification, and food & beverage processing. Powdered activated carbon is preferred over other forms of activated carbon due to its high surface area, which enables it to adsorb impurities and contaminants more effectively. In addition, it can be easily mixed with liquids or gases, making it suitable for use in a wide range of industries. The adaptability and cost-effectiveness of powdered activated carbon also contribute to its popularity, as it can be used for both large-scale industrial applications and small-scale residential uses.
Also, advancements in technology have led to the development of specialized powdered activated carbons that are tailored to specific applications, such as removing heavy metals, volatile organic compounds (VOCs), or odors, further increasing their demand in various end-use industries.
By End-Use Analysis
Water Treatment Segment Dominated the Global Market in 2023
The water treatment segment dominated the global activated carbon market in 2023, owing to its wide range of applications in removing contaminants and impurities from water. Activated carbon is widely used in water treatment plants to remove organic compounds, chlorine, and other impurities from drinking water, making it safe for consumption.
Also, activated carbon is used in industrial wastewater treatment, where it helps to remove heavy metals, solvents, and other pollutants from the water. With increasing concerns about water scarcity and quality, there is a growing demand for advanced water treatment technologies that can remove emerging contaminants such as pharmaceutical residues, personal care products, and microplastics from water. This growing demand can be fulfilled by the use of activated carbon in water treatment systems.
Regional Insights
Asia Pacific Region Dominated the Global Market in Terms of Share in 2023
The Asia Pacific region is expected to dominate the market because of the increasing demand from various end-use industries such as water treatment, food and beverage, and pharmaceuticals. The growing population, rapid urbanization, and industrialization in countries like China, India, and Indonesia have led to an increase in wastewater generation, which in turn has driven the demand for activated carbon for water treatment applications. In addition, the presence of a large number of manufacturers and suppliers in the region, particularly in China, has made it easier for customers to access high-quality activated carbon at competitive prices.
The North American region is anticipated to witness substantial growth in the activated carbon market due to increasing environmental concerns and stringent regulations regarding water and air pollution. The United States, in particular, is expected to propel the demand for activated carbon owing to its well-established industrial sector and growing awareness about the benefits of using activated carbon in various applications. Also, the presence of prominent players in the region, along with their extensive distribution networks and strong research and development capabilities, will further boost the regional market growth.
Key Market Players & Competitive Insights
Companies are engaged in various activities such as research and development, manufacturing, marketing, and sales to maintain their position in the activated carbon market. They also focus on expanding their product portfolios by introducing new products and applications, improving existing ones, and investing in emerging technologies. Additionally, key players have participated in strategic partnerships, collaborations, and mergers & acquisitions to strengthen their positions and increase their global presence.
Some of the major players operating in the global market include:
- Boyce Carbon
- Cabot Corporation
- Carbon Activated Corporation
- CarboTech AC GmbH
- CarbPure Technologies
- Donau Chemie AG
- Evoqua Water Technologies LLC
- Haycarb PLC
- Jacobi Carbons Group
- Kuraray Co.
- Kureha Corporation
- Osaka Gas Chemicals Co., Ltd.
- Oxbow Activated Carbon LLC
- Tantech Holdings Ltd
Recent Developments
- In January 2021, Tantech Holdings Ltd, launched the Variety Combination Honeycomb Activated Carbon. The product represents a significant technological breakthrough in the field of activated carbon, featuring a unique and highly versatile honeycomb structure that offers efficient adsorption capabilities.
- In March 2022, One Equity Partners, a private equity firm specializing in the middle market, acquired Norit Activated Carbon, a global manufacturer of activated carbon renowned for its purification solutions. This strategic move is expected to create synergies between the two entities and bolster their positions in the competitive activated carbon market.
Activated Carbon Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 4.49 billion |
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Revenue forecast in 2032 |
USD 9.03 billion |
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CAGR |
9.1% from 2024 – 2032 |
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Base year |
2023 |
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Historical data |
2019 – 2022 |
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Forecast period |
2024 – 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
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Segments covered |
By Type, By Application, By Raw Material, By End-User, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Customization |
Report customization as per your requirements with respect to countries, region, and segmentation. |
FAQ's
Activated Carbon Market Size Worth USD 9.03 Billion By 2032
Key players in the market are Boyce Carbon, Cabot Corporation, Carbon Activated Corporation, CarboTech AC GmbH, CarbPure Technologies
Asia Pacific contribute notably towards the global Activated Carbon Market
The global activated carbon market is expected to grow at a CAGR of 9.1% during the forecast period.
The Activated Carbon Market report covering key segments are product type, application, end-use, and region.
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