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Future Industry Growth Factors in the Activated Carbon Market

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The global activated carbon market 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.

 

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.

Regional Insights

Demand for Safe and Potable Water to Thrust Market Growth in Asia Pacific

Asia Pacific is anticipated to dominate the activated carbon market share due to rising need for safe and pure water. Valuation of the region stood at USD 1.98 billion in 2021. Exponential increase in the population has increased the demand for safe and potable water. China and India are the major countries that require water treatments.

In North America, market is likely to propel owing to increasing demand for air and gas purification applications in the U.S.

In Europe, stringent rules and regulations for safeguarding of environment, including water treatment are expected to propel the demand for activated charcoal.

Browse Detailed Summary:

https://www.fortunebusinessinsights.com/activated-carbon-market-102175