Yahoo Finance Activated Carbon Market to Rise at CAGR of 8.3% during Forecast Period, notes TMR Study
Increasing use of powdered activated carbon for decolorization and removal of contaminants, such as organic compounds, is likely to raise its demand in the pharma industry
Wilmington, Delaware, United States, Aug. 18, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The demand analysis of activated carbon market expects the market to rise at a CAGR of 8.3% during the forecast timeline, from 2020 to 2030. Based on value, the activated carbon market is likely to attain value of US$ 7.3 Bn by 2030. The growing usage for activated carbon from a broad range of industrial domains, comprising cosmetic, food & beverage, and pharmaceutical, is estimated to drive positive activated carbon market outlook. Rising emphasis on wastewater treatment by civic bodies in different parts of the world are expected to work in favour of the global activated carbon market.
The sales of activated carbon market is predicted to rise due to rising demand for activated carbon and its expanding applications across various sectors. In the not-too-distant future, the activated carbon is expected to have a very profitable application prospects in air purification segment.
Due to the COVID-19 outbreak, the need for personal protective equipment has grown exponentially around the world. As a result, the demand for activated carbon filter masks has increased, creating a plethora of possibilities for players in the activated carbon market. The use of activated carbon is anticipated to increase significantly during the COVID-19 outbreak since several studies have consistently shown that carbon filters in masks play a crucial role in boosting respiratory muscles and lung capacity.
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Key Findings of Market Report
Activated carbon is given to those who, amongst many other things, have ingested an excessive amount of chemicals, toxins, or poison across the pharmaceutical industry. Adsorption technology is being utilized more often to handle liquids in the food and beverage industry. Activated carbon is also used to remove impurities, such as organic compounds, and to decolorize materials when it is in powder form, which is one of the emerging trends of the activated carbon market.
Growing population, increasing water scarcity, and climate change are some of the challenges to provide clean, safe drinking water. The need for water filters is increasing as people become more conscious about consuming clean, safe water. Due to the fact that activated carbon is used to purify water, this has increased demand for it.
The coal-based category of the global activated carbon market is expected to account for a significant share in terms of volume and value. This segment is expected to offer largest opportunity for activated carbon market. Mesopores and micropores are prominent features of coal-based activated carbon, which has a substantial surface area. Due to its affordable filter media, use of activated carbon derived from coal is higher than that of other raw materials.
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Global Activated Carbon Market: Growth Drivers
As a major consumer of activated carbon, the water and wastewater treatment industry is predicted to experience substantial growth in the near future.
Activated carbon is expected to witness a rise in demand due to its wide range of applications during the course of the forecast timeline.
Global Activated Carbon Market: Key Players
Some of the key market players are
Avery Dennison Corporation
Henkel AG and Company KGaA
H. B. Fuller
BASF SE
Dow Inc.
Sika AG
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Global Activated Carbon Market: Segmentation
Raw Material
Coal Based
Coconut Shell Based
Wood Based
Others
Form
Powdered
Granular/Crushed
Extruded/Pelletized
Others
Application
Water & Wastewater Treatment
Air Purification
Food & Beverages
Industrial Chemicals
Pharmaceuticals
Automotive
Mining
Others
Region
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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