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Activated Carbon Market Size (2024 - 2029)

The activated carbon market is projected to experience significant growth over the forecast period, driven by factors such as adherence to strict environmental regulations in water treatment and the increasing focus on air pollution control. Despite challenges like higher costs for certain grades and competition from substitutes, the market is expected to expand, with emerging opportunities in the medical and pharmaceutical sectors. The Asia-Pacific region is anticipated to maintain its leading position in terms of market share.

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Market Size of Activated Carbon Industry

Activated Carbon Market - Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 4.32 Billion
Market Size (2029) USD 5.77 Billion
CAGR (2024 - 2029) 5.95 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Medium

Major Players

Activated Carbon Market Major Players

*Disclaimer: Major Players sorted in no particular order

Activated Carbon Market Analysis

The Activated Carbon Market size is estimated at USD 4.32 billion in 2024, and is expected to reach USD 5.77 billion by 2029, growing at a CAGR of 5.95% during the forecast period (2024-2029).

The market was negatively impacted by the COVID-19 pandemic as the demand was reduced, considering the temporary halt of activities in various end-user industries, such as metal extraction and others. However, since the end of the pandemic, the demand for the market studied has picked up the pace and is likely to grow at a significant rate in the coming years.

  • In the medium term, major factors driving the market are conformance to stringent environmental regulations in water treatment applications in the United States and the increasing prominence of air pollution control (especially mercury removal).
  • Narrower markets, due to the increased costs of some grades of activated carbon, the threat of substitutes like silica gel, and the development of better alternatives, are expected to hinder the growth of the market.
  • Emerging applications in the medical and pharmaceutical sectors is likely to act as an opportunity for the market.
  • Asia-Pacific accounted for the highest market share, and the region is likely to dominate the market during the forecast period.

Activated Carbon Industry Segmentation

Activated carbon is a form of carbon that is processed to have small, low-volume pores that increase the surface area available for adsorption or chemical reactions. Usually, activated carbon is extracted from charcoal.

The Activated Carbon Market is segmented by product type (powdered activated carbon (PAC), granular activated carbon (GAC), and pelletized or extruded activated carbon), application (gas purification, water purification, metal extraction, medicine, and other applications), end-user industry (water treatment, food and beverage, healthcare, automotive, industrial, processing, and other end-user industries) and geography (Asia-Pacific, North America, Europe, South America, and Middle East and Africa). The report offers market size and forecasts for the activated carbon market in volume (kilotons) for all the above segments.

By Product Type
Powdered Activated Carbons (PAC)
Granular Activated Carbons (GAC)
Extruded or Pelletized Activated Carbon
By Application
Gas Purification
Water Purification
Metal Extraction
Medicine
Other Applications
By End-user Industry
Water Treatment
Food and Beverage
Healthcare
Automotive
Industrial Processing
Other End-user Industries
By Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
Saudi Arabia
South Africa
Rest of Middle East and Africa
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Activated Carbon Market Size Summary

The activated carbon market is poised for significant growth over the forecast period, driven by increasing demand in various applications, particularly in water treatment and air pollution control. The market experienced a downturn due to the COVID-19 pandemic, which temporarily reduced demand across sectors like metal extraction. However, recovery has been swift, with the market expected to expand steadily. Key drivers include stringent environmental regulations in the United States and the growing need for effective air pollution control measures, such as mercury removal. Despite challenges like rising costs and the threat of substitutes, emerging opportunities in the medical and pharmaceutical sectors are anticipated to bolster market growth. The Asia-Pacific region, particularly China and India, is expected to maintain its dominance, supported by robust water treatment initiatives and industrial growth.

Water treatment remains a primary application for activated carbon, with its use in granular form being highly effective for removing a wide range of contaminants from municipal and industrial wastewater. The demand for activated carbon is further supported by federal policies in the United States and significant investments in water treatment infrastructure in China and India. The market is partially consolidated, with major players like Kuraray Co. Ltd, Cabot Corporation, Ingevity, Jacobi Carbons Group, and Haycarb (Pvt.) Ltd. actively participating. Recent strategic moves, such as Cabot Corporation's divestiture of its activated carbon unit, highlight the dynamic nature of the market. Overall, the activated carbon market is set to experience robust growth, driven by regulatory pressures, technological advancements, and expanding applications across various industries.

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Activated Carbon Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Conformance to Stringent Environmental Regulations in Water Treatment Applications in the United States

      2. 1.1.2 Augmenting Prominence for Air Pollution Control (Especially Mercury Removal)

    2. 1.2 Restraints

      1. 1.2.1 Narrower Markets Due to Increased Costs of Some Grades of Activated Carbon

      2. 1.2.2 Threat of Substitutes Like Silica Gel and Development of Better Alternatives

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 By Product Type

      1. 2.1.1 Powdered Activated Carbons (PAC)

      2. 2.1.2 Granular Activated Carbons (GAC)

      3. 2.1.3 Extruded or Pelletized Activated Carbon

    2. 2.2 By Application

      1. 2.2.1 Gas Purification

      2. 2.2.2 Water Purification

      3. 2.2.3 Metal Extraction

      4. 2.2.4 Medicine

      5. 2.2.5 Other Applications

    3. 2.3 By End-user Industry

      1. 2.3.1 Water Treatment

      2. 2.3.2 Food and Beverage

      3. 2.3.3 Healthcare

      4. 2.3.4 Automotive

      5. 2.3.5 Industrial Processing

      6. 2.3.6 Other End-user Industries

    4. 2.4 By Geography

      1. 2.4.1 Asia-Pacific

        1. 2.4.1.1 China

        2. 2.4.1.2 India

        3. 2.4.1.3 Japan

        4. 2.4.1.4 South Korea

        5. 2.4.1.5 Rest of Asia-Pacific

      2. 2.4.2 North America

        1. 2.4.2.1 United States

        2. 2.4.2.2 Canada

        3. 2.4.2.3 Mexico

      3. 2.4.3 Europe

        1. 2.4.3.1 Germany

        2. 2.4.3.2 United Kingdom

        3. 2.4.3.3 France

        4. 2.4.3.4 Italy

        5. 2.4.3.5 Spain

        6. 2.4.3.6 Rest of Europe

      4. 2.4.4 South America

        1. 2.4.4.1 Brazil

        2. 2.4.4.2 Argentina

        3. 2.4.4.3 Rest of South America

      5. 2.4.5 Middle East and Africa

        1. 2.4.5.1 Saudi Arabia

        2. 2.4.5.2 South Africa

        3. 2.4.5.3 Rest of Middle East and Africa

Activated Carbon Market Size FAQs

The Activated Carbon Market size is expected to reach USD 4.32 billion in 2024 and grow at a CAGR of 5.95% to reach USD 5.77 billion by 2029.

In 2024, the Activated Carbon Market size is expected to reach USD 4.32 billion.

Activated Carbon Market Report Snapshots

Activated Carbon Market Size - Industry Report on Share, Growth Trends & Forecasts Analysis (2024 - 2029)