Activated Carbon Market Size, Share, Trends, Growth Opportunity by 2028

 At 9.6% CAGR, the global activated carbon market is projected to be worth US$ 8,264.03 million by 2028, says The Insight Partners

The Global Activated Carbon Market was evaluated at US$ 4,116.03 million in 2020 and is expected to hit US$ 8,264.03 million by 2028 at a record annual growth rate of 9.6% from 2021 to 2028. Rising demand for wastewater treatment and increasing regulations on mercury emissions are the potential aspects proliferating the market.

The urban wastewater treatment plants (WWTP) are critical to the environmental sustainability and resources. The demand for wastewater treatment grew significantly over the past two decades. Activated carbon is predominantly used in various wastewater treatment facilities as it can be obtained from bioresources and is comparatively cheaper. In simple filtration process, the powdered activated carbon conveniently dissipates the impurities in water. Several countries are introducing well-defined policies and accumulating financial resources to build water purification facilities and sewers. In developing countries, the carbon filtration method for wastewater treatment has been proved to be cost-effective.

Key players shaping the global activated carbon market are

Osaka Gas Chemical Co. Ltd (Japan)

KURARAY CO., LTD (Japan)

HAYCARB (PVT) LTD (Sri Lanka)

KUREHA CORPORATION (Japan)

CABOT CORPORATION (US)

Activated Carbon Technologies Pty Ltd (Australia)

Albemarle Corporation (US)

CPL ACTIVATED CARBONS (UK)

JACOBI CARBONS GROUP (Sweden)

CALGON CARBON CORPORATION (US)

James Cumming and Sons Pty Ltd (Australia)

On the other hand, fluctuating prices of raw material impedes the growth of global activated carbon market.

Based on type, the activated carbon market is split into granular, powdered, pelletized, and others. The powdered segment occupied 47.1% market share in 2020, amassing US$ 1,940.2 million. It is slated to accrue US$ 3,956.1 million by 2028, expanding at 9.9% CAGR during 2021–2028.

According to application, the global activated carbon market is fragmented into water treatment, food & beverages, pharmaceuticals, automotive, and others. The water treatment segment dominated the market in 2020 with 44.4% business share. It garnered US$ 1,826.5 million in 2020 and is speculated to generate US$ 3,723.2 million by 2028 to grow at 10.1% CAGR throughout the forecast period.