The activated carbon market is projected to grow from US$ 4,350.6 million in 2021 to US$ 8,264.0 million by 2028; it is expected to grow at a CAGR of 9.6% from 2021 to 2028.
Activated carbon, consisting of particles at the nano scale, is utilized as an adsorbent in a variety of industries such as food processing, air and gas purification, and wastewater treatment in manufacturing industries. Furthermore, it is employed in the production of canisters that are necessary for emission treatment in automobiles.
The activated carbon market is categorized into powdered, granular, and pelletized & others based on type. In 2020, the largest market share was held by the powdered segment due to its increasing use in various industries. Powdered activated carbon is preferred over granular activated carbon due to its fine particle size and cost-effectiveness. The larger surface area of the fine particles enhances the adsorption process efficiency, making it ideal for use in water treatment, food & beverage, and automotive applications.
The activated carbon market is segmented into five key regions, namely North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South and Central America (SAM). In 2020, Asia Pacific emerged as the largest market for activated carbon due to the expanding automotive and food & beverages industries, driven by the increasing population and urbanization. Moreover, the rising demand for advanced wastewater management techniques to alleviate water scarcity and meet the agricultural and industrial water requirements is expected to fuel the growth of the activated carbon market during the forecast period.
Impact of the COVID-19 Pandemic on Activated Carbon Market
The COVID-19 pandemic has had a profound impact on the global economy, with governments in various regions implementing measures to contain the spread of the virus. These measures, such as country-wide lockdowns, have directly affected the growth of industrial sectors, leading to challenges in procuring activated carbon for many automotive and pharmaceutical manufacturers. Furthermore, supply constraints have led to a significant increase in the costs of activated carbon. The pandemic has caused a considerable decline in the production process of manufacturing industries worldwide. However, the market has recovered, due to the increasing demand for activated carbon from various applications
The chemicals and materials industry has been the focus of the "Global Activated Carbon Market Analysis to 2028," which is a specialized and comprehensive study of the global market trends. The objective of the report is to provide an overview of the market by segmenting it based on type, application, and geography. The activated carbon market is categorized into three types: powdered, granular, and pelletized & others, while the applications include water treatment, food & beverages, pharmaceuticals, automotive, and others. The market is further segmented into five main regions, namely, North America, Europe, Asia Pacific, the Middle East and Africa, and South and Central America.
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