The global activated carbon market was valued at USD 4.74 Billion in 2015 and is projected to reach USD 8.12 Billion by 2021, at a CAGR of 9.4% from 2016 to 2021. The market size in terms of volume was 2,743.4 KT in 2015, and is projected to reach 3857.9 KT by 2021, at a CAGR of 8.4% from 2016 to 2021. This growth is propelled by the stringent government regulations across the globe to mitigate emissions, mainly the removal of mercury and hydrogen sulfide, and for industrial wastewater treatment. The demand for activated carbon for industrial applications for decolorization and deodorization operations is expected to be high.
The growing use of activated carbon in industrial applications has led to increase its share in the gas phase applications, which is driving the activated carbon market in the Asia-Pacific region. Moreover, the growing use of activated carbon for soil remediation applications as well as in pharmaceutical applications have witnessed significant growth during the last five years is further expected to boost the growth of the activated carbon market. However, scarcity of raw material especially in Asia-Pacific is major factor restraining the growth of the activated carbon market globally.
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Powdered Activated Carbon: The largest activated carbon market, by type
The market for powdered activated carbon is the largest in the global activated carbon market, followed by the market for granular activated carbon. The demand for powdered activated carbon is mainly fueled by the increasing applications of activated carbon in end-use industries such as, chemical, petrochemical, foods & beverages, and for decolorization and deodorization applications.
Liquid Phase Application: The largest application market for activated carbon
The liquid phase application is the largest application of activated carbon. Activated carbon is widely used in liquid phase applications such as, industrial water treatment and municipal water treatment, the chemical industry, pharmaceutical industry, and foods & beverages industry. Applications of activated carbon for decolorization, deodorization, and solvent recovery are expected to drive the demand for activated carbon during the forecast period.
The Asia-Pacific region was the largest market for activated carbon, in terms of value and volume, in 2015. Industrial growth in countries such as, India, Vietnam, Indonesia, and Thailand, increased investments in chemical, petrochemical, oil & gas, foods & beverages industries are the key factors driving the Asia-Pacific region market. The Calgon Carbon Corporation (U.S), Osaka Gas Co. Ltd (Japan), Cabot Corporation (U.S), Haycarb PLC (Sri Lanka), Kuraray Chemical Co. Ltd ( Japan), KUREHA CORPORATION (Japan), Donau Carbon GmbH (Germany), Silcarbon Aktivkohle GmbH (Germany), and Oxbow Activated Carbon LLC (U.S) are the major activated carbon producers covered in the report.
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