Analysis by Raw Material (Coal, Coconut Shell, and Wood Based); by Type (Powdered, Granular, and Extruded Activated Carbon); by Application (Liquid Phase and Gas Phase); and by End-User (Water Treatment, Air Purification, and Pharmaceutical & Medical Technology) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033
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The global activated carbon market is estimated to garner a revenue of ~USD 8 billion by the end of 2033 by growing at a CAGR of ~9% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 4 billion in the year 2022. The growth of the market can be attributed to the rising need for mercury control technology for limiting industrial air pollution. Rapid industrialization across the globe has contributed significantly to the increment of air pollution worldwide which needs to be controlled. Air pollution causes severe respiratory diseases in humans and has obliterated several species of birds and over time some species are at risk to be disappeared completely from the earth. The worldwide artisanal and small-scale gold mining industries release 37.7% of mercury as per 2018, U.S Environmental Protection Agency.
Global activated carbon markets trends such as the rise in industrialization owing to the developing economical condition of nations and escalating population with up-surged requirements and the scarcity of water across the world. Every year about two-thirds of the population worldwide i.e., four billion people suffer from water shortages for at least one month. Moreover, the surge in the instance of respiratory diseases such as pneumonia, chronic obstructive pulmonary disease, lung cancer, pulmonary fibrosis, and others owing to heavy air pollution are also expected to enlarge the market size globally during the forecast period. For instance, in 2019, chronic respiratory diseases caused approximately 500,000 deaths globally, ~250,00 in women and ~240,000 in men. Hence, all these factors are anticipated to influence the growth of the market positively over the forecast period.
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
~9% |
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Base Year Market Size (2022) |
~ USD 4 Billion |
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Forecast Year Market Size (2033) |
~ USD 8 Billion |
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Regional Scope |
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Growth Drivers
Rising Air Pollution at a Global Scale – The prevalence of air pollution is so high that it accounts for approximately 11% of the deaths across the globe while the annual rate of death caused by air pollution is estimated to be around 6 million. World Health Organization (WHO) stated that in every 10 people, 9 of them breathe contaminated air.
Air pollution became one of the serious health and environmental issue across the globe. Air pollution can be indoor and outdoor leading to increasing risk factors to cause diseases. Hence it is considered to be the contamination of air by chemicals and biological agents that are harmful. Air pollution is caused by industrial facilities, vehicles, combustion devices, and others. Hence, such a higher prevalence of air pollution is expected to hike the market growth over the forecast period.
Elevating Demand for Smart Electronics – The imported value of activated carbon used for fridges, vehicles, and others. reached USD 2,271,194 in 2021, while in 2021, approximately 80 million motor vehicles were produced worldwide with an increase of nearly 1% from the previous year. Additionally, the sales of refrigerators are expected to be around 200 million units every year.
Increasing Applications in Pharmaceutical Industries – Activated charcoal is advised in about 5% of all age group poising cases and 0.9% of childhood poisoning cases. Furthermore, in 2020, more than 75% of poison exposures were reported in the United States.
Increasing Requirement for Sewage Treatment – In the U.S. approximately 34 billion gallons of wastewater is processed by wastewater treatment facilities each day.
Rising Population Across the World – As of 2021 the world population raised to about 65 million with an increase of 0.82%. As the population of the world is rising, it has boosted the demand for smart electronics and pharmaceutical products which are estimated to flourish the market growth over the forecast period.
Challenges
The global activated carbon market is segmented and analyzed for demand and supply by raw material into coal, coconut shell, and wood-based. Out of these types of raw materials, the coal segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the increasing demand for safe portable drinking water, as carbon has more surface area with mesopores and microspores absorbing impurities more easily and also low-cost filter media. As per the Environmental Protection Agency, activated charcoal filters can efficiently eliminate about 225 chemicals. Coal is considered to be the best-activated carbon precursor that provides several advantages as well, such as being inexpensive, available in nature, readily primary pores, and having high carbon content. Therefore, all these factors are estimated to hike the growth of the segment over the forecast period.
The global activated carbon market is also segmented and analyzed for demand and supply by end-user into water treatment, air purification, and pharmaceutical & medical technology. Amongst these segments, the water treatment segment is expected to garner a significant share. The growth of the segment can be accounted for rising water pollution since people and factories release their waste materials into the water. Water treatment includes flocculation, coagulation, disinfection, filtration, and sedimentation. It involves several processes such as physicochemical physical, chemical, and others to treat water so the non-desirable characteristics can be reduced in water. It is observed that approximately 45% of the wastewater released by households isn’t treated safely across the globe. On the other hand, the air purification segment is also projected to witness noteworthy growth over the forecast period on the back of high levels of air pollution worldwide.
Our in-depth analysis of the global activated carbon market includes the following segments
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By Raw Material |
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By Type |
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By Application |
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By End-User |
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The Asia Pacific activated carbon market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be attributed majorly to the rising vehicle production and sales volume backed by the growing automotive industry in the region, especially in China, India, and Japan. As per the Bureau of Transportation Statistics, the total domestic sale of vehicles in 2021 was stated to be 11,831 thousand units per annum. Increasing water pollution raised the need for government regulations on industrial water treatment is also a major factor projected to hike the regional market growth over the forecast period. As per the Environmental Protection Agency and the states, about 70,000 water bodies have not met the quality standards.
Furthermore, the market in the North American region is also expected to witness rapid growth on the back of high demand for water treatment and escalating concerns associated with a high level of air pollution in the region. For instance, around 65 million tons of pollution were emitted into the United States’ atmosphere in 2021 while more than 125 million Americans were observed to be living in the most polluted areas.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: Increasing applications in pharmaceutical industries and rising air pollution everywhere are the major factors driving the market growth.
Ans: The market is anticipated to attain a CAGR of ~9% over the forecast period, i.e., 2023 – 2033.
Ans: The presence of alternatives in the market is estimated to be the growth hindering factors for the market expansion.
Ans: The market in the Asia Pacific region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.
Ans: The major players in the market are Donau Chemie Group, Cabot Corporation, Puragen Activated Carbons, CarboTech AC GmbH, Kuraray Co., Ltd, Kureha Corporation, Activated Carbon Technologies Pty Ltd, Silcarbon Aktivkohle GmbH, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by raw material, type, application, end-user, and by region.
Ans: The coal segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
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