Activated Carbon Market :Excellent properties of activated carbon drive market growth
Transparency Market Research (TMR) predicts that the global activated carbon market features highly consolidated. The key players in the activated carbon market are Calgon Carbon Corporation, Cabot Corporation, Osaka Gas Chemicals Co., Ltd., ADA Carbon Solutions, Inc., Haycarb PLC, and CarboTech AC GmbH. Some of the other prominent players in the activated carbon market include Oxbow Activated Carbon, Carbon Activated Carbon, Donau Chemie AG, Kureha Corporation, and Evoqua Water Technologies. Around 90% of the global activated carbon market features consolidative vendor landscape, while the rest is fragmented due to large number of small players operating in the market.
According to the report by TMR, the activated carbon market is anticipated to expand by exhibiting a CAGR of 8.0% during the forecast period from 2018 to 2026 and is estimated to grab a value of US$6.0 bn by 2026-end. Based on the raw material, the coal-based segment dominated the global activated carbon market and is estimated to account for key share in the coming years. Based on the application, the water & wastewater treatment segment dominated the market in 2017 and likely to remain dominant in coming years.
Regionally, the Asia Pacific held prominent share in the revenue of the global activated carbon market in 2017. However, North America and Europe is estimated to account for leading share in 2017. This growth is attributable to rise in demand from water treatment application coupled with regulations associated with mercury emission control.
Excellent properties of activated carbon drive market growth
Activated carbon is a carbonaceous and extremely porous adsorptive medium, which has composed structure of carbon atoms. Random cross-linkage in activated carbon and the linkage differs the properties. Various raw materials such as coconut shell, coal, peat, olive stones, petroleum pitch, fruit pits, synthetic polymers, scrap tires, waste cellulose materials, and wood are used for manufacturing the activated carbon. Rise in demand for activated carbon is boosting its production; thus, the market is getting benefited. Activated carbon is utilized in nourishment items to detox body. Nonetheless, the human body is displaying protection from retention of nutrients and meds because of the overwhelming use of activated carbon. This is making a negative effect on the general interest for global activated carbon.
Recuperation of activated carbon from utilized activated carbon is named as reactivation of activated carbon. This is done when activated carbon loses its adsorptive limit. At the point when activated carbon ends up inert, it very well may be reactivated utilizing warm reactivation. Significant favorable position of reactivation of activated carbon is that the CO2 impression related to reactivation is not as much as that of a generation of activated carbon. This is the conspicuous factor expected to make open doors for producers of activated carbon. Mercury expulsion from coal-terminated power plants offers another real chance to the activated carbon market. The U.S. held a significant portion of the activated carbon market for mercury expulsion application in 2017.
Asia Pacific to be dominant region in the coming years
As far as volume, Asia Pacific held a noticeable portion of over 30% of the global activated carbon market in 2017. The activated carbon market has been moving to create districts, for example, the Asia Pacific attributable to the relatively low assembling expenses and nearness of less stringent ecological guidelines by different government bodies. China and India establish a key portion of the activated carbon market in the Asia Pacific because of the development in assembling offices in these nations. North America held a real portion of over 25% of the market in 2017.
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However, the market portion of the locale is foreseen to decay barely during the gauge time frame because of the decline in utilization of coal in power age, which is a roundabout way impacts the interest for activated carbon for mercury evacuation. The market in Europe is anticipated to extend at a moderate pace during the figure time frame. Interest for activated carbon in water and wastewater treatment, mercury emanation control, and the car is foreseen to ascend in the locale sooner rather than later. The market in Latin America and the Middle East and Africa is foreseen to grow at a drowsy pace contrasted with that in different districts sooner rather than later.