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Activated Carbon Market Predicted to Surpass US$ 8.9 Billion by 2026, at a CAGR of 9.3%, States MarketsandMarkets™

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Activated Carbon Market Predicted to Surpass US$ 8.9 Billion by 2026, at a CAGR of 9.3%, States MarketsandMarkets™

Activated Carbon Market Predicted to Surpass US$ 8.9 Billion by 2026, at a CAGR of 9.3%, States MarketsandMarkets™
Browse 299 market data Tables and 36 Figures spread through 190 Pages and in-depth TOC on “Activated Carbon Market
Activated Carbon Market by Type, Application (Liquid Phase (Water Treatment, Foods & Beverages, Pharmaceutical & Medical), Gas Phase (Industrial, Automotive), and Region (APAC, North America, Europe, Middle East, South America)

The global activated carbon market is estimated to be USD 5.7 billion in 2021 and is projected to reach USD 8.9 billion by 2026, at a CAGR of 9.3% from 2021 to 2026. The driving factors for the activated carbon market is its applications in water treatment and air purification along with stringent government regulations regarding the removal of mercury from power plants have led to increasing acceptance of activated carbon products. 

Activated carbon manufacturers are the most important players in the value chain as they produce and provide various types of activated carbons based on their use in the end use industry. An efficient supply chain helps manufacturers achieve sustainability by boosting collaborative relationships with suppliers and developing innovative measures in operational improvements, distribution management, and timely delivery of products to multiple customers and end users. The end-use industries of activated carbon are food & beverage, pharmaceutical & medical, automotive, industrial, water treatment and others. This provides additional value to the chain. 

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The overall activated carbon market was dominated by the powdered activated carbon segment with a share of 50.8% in 2020. Powdered activated carbon (PAC) has a relatively smaller particle size compared to granular activated carbon and consequently presents a large surface-to-volume ratio. Owing to this, PAC is generally added directly to process units, such as rapid mix basins, clarifiers, and gravity filters. Traditionally, activated carbon is made in particulate form as powders or fine granules less than 1.0 mm in size with an average diameter between 0.15 mm and 0.25 mm. The effectiveness of PAC in adsorbing tastes and odors depends on adequate mixing, contact time, dosage, and on the cause and concentration of the taste or odor problem. PAC is used for applications such as wastewater treatment. It has low initial cost, and the dosage of PAC can be adjusted as per the changing contaminant levels. However, PAC has a high operating cost, and if used continuously, it cannot be regenerated, produces large quantities of sludge, and the dust resulting from the small particles of PAC make handling difficult.

APAC led the global activated carbon market, accounting for a share of 39.3% in 2020. APAC is segmented into China, Japan, India, Indonesia, South Korea, and the Rest of APAC. Factors such as ready availability of raw materials and manpower, along with sophisticated technologies and innovations, have driven economic growth in the APAC region. According to the World Bank, the two economic giants of the APAC region, China and Japan, were the world’s second and third-largest economies as of 2020.

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Osaka Gas Co., Ltd. (Japan), Cabot Corporation (US), Kuraray Co. Ltd. (Japan), Haycarb Plc (Sri Lanka), and Kureha Corporation (Japan) among others are the leading activated carbon manufacturers, globally. These key players have focused on market consolidation by adopting both organic and inorganic growth strategies such as mergers & acquisitions. These companies adopted acquisitions as the key growth strategy between 2019 and 2021.

Osaka Gas Co., Ltd. is a Japan-based producer of activated carbon. The company mainly operates through four business segments, namely, Gas; LPG, Electricity & other Energies; Life & Business Solutions; and International Energies. It produces activated carbon under the life & business solutions segment. The company produces activated carbon through its various subsidiaries, namely, Minabe Chemical Industries, Ltd. (Japan), Hakata Chemical Co., Ltd. (Japan), Davao Central Chemical Corporation (Japan), Century Chemical Works Sdn. Bhd. (Malaysia), and Jacobi Carbons AB (Sweden). 

Cabot Corporation produces and sells specialty chemicals and performance materials. The company offers specialty compounds, rubber and specialty grade carbon blacks, fine cesium chemicals, fumed metal oxides, inkjet colorants, cesium formate drilling fluids, activated carbons, and aerogel. It offers activated carbon to various customers, including food and beverage processors, coal-fired utilities, pharmaceutical companies, water treatment plants and catalyst producers, and cesium formate products to oil and gas operating companies. The company sells and distributes its products primarily through distributors and sales representatives. It has business presence across the Americas, Europe, the Middle East, Africa, and APAC. 

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Kuraray Co., Ltd. is a producer of functional resins, high-performance materials, fibers & textiles, and medical products. The company was established in 1926 to produce synthetic rayon. It operates under six business segments, namely, vinyl acetate, functional materials, isoprene, fibers & textiles, trading, and others. It produces activated carbon under the others segment. The company operates through Kuraray Chemical Co., Ltd. (Japan) to produce activated carbon. It also produces activated carbon through its subsidiaries Cenapro Chemical Corporation (China) and Kuraray Chemical (Ningxia) Environmental Industry Co., Ltd. (Philippines). Apart from production activities, the company is also engaged in designing, construction, and maintenance of production facilities of chemicals, food processing, electronic materials.

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