Activated Carbon Market size was valued at USD 5.4 billion in 2024 and is projected to reach a valuation of USD 16.9 billion by the end of 2037, rising at a CAGR of 9.3% during the forecast period, i.e., 2025-2037. In 2025, the industry size of activated carbon is evaluated at USD 5.8 billion.
The activated carbon market is expected to record considerable growth due to rising demand from various industries, including water purification, air filtration, and energy storage. Environmental sustainability concerns and increased stringency of regulatory requirements are further accelerating the adoption of activated carbon solutions. In September 2024, the Jacobi Group invested in sustainable production related to coconut shell charcoal, part of the strategic development of 'Go Green' aimed at decreasing the level of dependence on fossil-based raw materials and its further influence on the environment. Such developments are setting a path for the market players toward greener and more productive methods.
Government initiatives also contribute to market growth. In July 2024, for example, the Singapore Economic Development Board (EDB) partnered with the International Emissions Trading Association to establish the Singapore Carbon Market Alliance, which is a platform that brings buyers and sellers of carbon credits together to advance sustainable practices across industries that also involve activated carbon. Such efforts underline the importance of sustainability in driving innovation and activated carbon market growth while offering solutions to global environmental challenges.
Growth Drivers
Challenges
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
9.3% |
|
Base Year Market Size (2024) |
USD 5.4 billion |
|
Forecast Year Market Size (2037) |
USD 16.9 billion |
|
Regional Scope |
|
Raw Material (Coal, Coconut Shell, Wood Based)
Coal segment is expected to dominate around 55.1% activated carbon market share by the end of 2037. Due to its high adsorption capacity, coal is an indispensable raw material in a number of applications, especially in water and air purification. It finds much demand because of its efficiency in the removal of impurities from drinking water and industrial wastewater by coal-based activated carbon. In November 2024, Indcarb Activated Carbon launched a series of inline water filters using high-quality coal-derived activated carbon, illustrating recent innovations within the category. The growth of the segment reflects its critical contribution towards serving the increasing global demand for effective filtration solutions.
Type (Powdered, Granular, Extruded Activated Carbon)
By the end of 2037, powdered segment is poised to capture around 53.7% activated carbon market share, owing to its usage across different industry applications. The fine particle size makes it suitable for application in water treatment, air purification, and industrial processes. In October 2022, Kuraray Co., Ltd. announced an expansion in the reactivated carbon production facility, further addressing sustainable practices and efficiency in material usage. The investment consolidated the leadership of the company in the category of powdered activated carbon, serving the needs of environmental solution-finding industries. The versatility of the segment has continued to make it a staple in the activated carbon market, as it supports a wide range of applications that are considered critical.
Our in-depth analysis of the global market includes the following segments:
|
Raw Material |
|
|
Type |
|
|
Application |
|
|
End user |
|
Asia Pacific Market Statistics
Asia Pacific in activated carbon market is anticipated to account for around 43.9% revenue share by 2037. Rapid industrialization coupled with fast urbanization throughout the region has kept demand for activated carbon high, mainly for water and air purification applications. More than 80% of the wastewater generated in the region is discharged without being treated, which opens immense opportunities for activated carbon solutions in water treatment. Additionally, this demand is driven by increased industrial technologies and environmental awareness. The ability of the region to adopt these solutions to its growing infrastructure underlines its leading position in the global market.
The growing industrial base, added to the rising focus on access to clean water, is driving the activated carbon market in India. In municipal and industrial water treatment, the demand for activated carbon is growing rapidly with a large population and large-scale water scarcity. Furthermore, increased awareness related to air pollution has also increased the demand for air purifiers in which activated carbon is used at a considerable rate. Other factors, such as government initiatives toward adopting better environmental standards and sustainable manufacturing practices, are also driving the market toward growth.
China dominates the activated carbon market in Asia Pacific, influenced by rapid industrial processing and sustainable material advancement. The country faces significant environmental challenges from untreated wastewater and industrial emissions, creating substantial demand for various technologies in the market. In April 2023, Ningbo Juhua Chemical & Science Co., Ltd. collaborated with Technip Energies for the construction of a PDO and PTT plant. This represents China effort towards greening the industrial base. These developing instances mark the strategic investment of the country in cutting-edge technology, thereby sealing its leading position in the regional as well as global market.
North America Market Analysis
North America activated carbon market is expected to grow at more than 9.4% CAGR through 2037, due to strict environmental regulations and higher adoption of advanced water and air purification technologies. This is attributed to growing interest in sustainability and health safety concerns across the region, driving higher demand for activated carbon solutions in key applications in wastewater treatment and industrial emission control, among others. Further enhancing the capabilities and efficiency of activated carbon products are investments in research and development. Such initiatives reinforce North America position as a key contributor to the global market.
In the U.S., the activated carbon market is driven by pressing environmental concerns and regulatory pressures. According to the Environmental Protection Agency, about a third of rivers and lakes are unsuitable for use. This makes the purification of water a crucial activity on a daily basis. The versatility in the removal of contaminants has made activated carbon indispensable in modern systems. In August 2022, Ingevity strengthened its supply chain with regard to activated carbon products by investing in advanced materials to show innovation and infrastructural development in the country. These factors put the U.S. in an advantageous position to drive market growth in North America.
The high emphasis on environmental sustainability and conservation in natural resources management in Canada contributes to its activated carbon market. The country is also tackling the challenges of water treatment and industrial emissions control, with a range of activated carbon solutions being implemented to meet these goals. Growth in filtration and purification technologies, especially due to the increasing use of sustainable materials, also epitomizes a commitment from Canada to environmental stewardship. Regional partnerships and investment in advanced manufacturing facilities further reinforce the activated carbon market growth in Canada.
The activated carbon market is highly competitive and consists of leading companies such as Donau Chemie AG, Norit (One Equity Partners), Ingevity Corporation, Haycarb PLC, and DESOTEC, which are driving the developments in the industry. These players are focused on leveraging innovative production techniques and sustainable raw materials to achieve the surging demand for high-performance solutions. Furthermore, the players are garnering market share through strategic expansions and partnerships, boosting their presence in the market. Activated carbon manufacturers are paying greater attention to the sustainability and effectiveness of the processes, thereby showing their commitment to regulatory imperatives with a view toward challenges related to the environment.
The dynamism of the activated carbon market has provoked substantial investments in R&D to enable customized products for a wide range of applications. In March 2023, Cabot Corporation launched the EVOLVE technology program, which marked one of the most important steps forward in the sustainability of production processes within the framework of the activated carbon industry. This program focuses on recovering carbon products from end-of-life tires, creating a circular economy model that minimizes waste and reduces the carbon footprint. This emphasis on closed-loop processes underlines the growing importance of integrating environmental goals into technological advancement within the activated carbon sector.
Here are some leading companies in the activated carbon market:
Author Credits: Rajrani Baghel
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?