Activated Carbon Market Overview:
The activated carbon market is projected to be valued at USD 7,032.5 Mn by the end of 2023 and expected to exhibit a CAGR of 8.14% during the forecast period.
Acknowledging the traction, the market perceives currently, Market Research Future (MRFR) in its recently published study report confirms that the global activated carbon market is estimated to demonstrate a voluminous growth by 2023, registering a striking CAGR during the assessment period (2018 – 2023).
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Activated Carbon Market Key Players:
The important competitors in the activated carbon market are Kuraray Co., Ltd (Japan), Haycarb (Pvt) Ltd (Sri Lanka), Prominent Systems, Inc. (US), Donau Carbon GmbH (Germany), DESOTEC Activated Carbon (Belgium), Cabot Corporation (US), Oxbow Activated Carbon (US), Osaka Gas Chemicals Co., Ltd (Japan), Silcarbon Aktivkohle GmbH (Germany), Kureha Corporation (Japan), and Lenntech BV (the Netherlands), among others.
Activated Carbon Market Regional Analysis:
The global activated carbon market is studied with respect to five key regions, namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. As per MRFR analysis, Asia-Pacific dominated the global market, accounting for the largest share in 2018 and is projected to register a CAGR of 9.93% during the forecast period. The market in North America was the second largest after Asia-Pacific and is projected to be valued at USD 1,343.0 by the end of 2023. Europe also held a substantial market share of 15.53% in 2018.
The European region is set to observe a significant growth in the activated carbon market due to increased demand fueled by the stringent regulations imposed on industrial and automotive emissions. Germany, Italy, and the U.K. are projected to lead the market of this region owing to rapid technological advancement and growing usage over the forecast period.
The Latin American regions such as Brazil, Uruguay, and Argentina are predicted to witness a rapid growth due to its increasing use of activated carbon in the automotive, aviation, electrical & electronics industries.
The market is projected to observe significant development in the Middle East & Africa region due to its growing consumption of activated carbon in batteries, fuel cells, and other sectors. Moreover, due to advancing technology, it is estimated that the global activated carbon market is to observe a significant growth in the market due to its increasing consumption.
Activated Carbon Market Segment Analysis:
The global activated carbon market has been segmented on the basis of type, application, and region. Based on type, the global market has been classified into powdered activated carbon, granulated activated carbon, extruded activated carbon, and others. Among these, the powdered activated carbon segment held the largest market share in 2018 and is projected to register the highest CAGR of 8.45% during the forecast period. This is mainly attributed to the widespread use of the product for mercury removal from power plant emissions, removal of organic contaminants from wastewater, de-chlorination of water, drinking water treatment, and taste and odor removal from water used in the food & beverage industry.
By application, the global activated carbon market has been segmented into water purification, air purification, food & beverage, industrial chemicals, metal extraction, pharmaceuticals, automotive, catalyst, and others. The water purification segment dominated the global market in 2018 with a market value of USD 1,575 million in 2018. This large-scale consumption of activated carbon in this application segment is due to the increasing awareness among the consumers regarding the treatment of drinking water as well as the re-use of the industrial wastewaters by purification.
Activated Carbon Market Table of Content to be Continue….,
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