According to a new study published by Polaris Market Research the global activated carbon market is anticipated to reach USD 13.44 billion by 2026.
Activated carbon is a widely used adsorbent and a major component in industrial processes. Composed of homogenous and micro porous structures along with higher surface areas it shows immense stability for radiation. Stringent regulatory framework mainly in the U.S. and China markets are expected to drive the activated carbon market growth. In these markets, along with other industrially developing countries, stringent regulatory framework have reflected rising emphasis on removal of mercury. This in contrast stringent regulatory framework and stepped up enforcements have stem them from efforts to fight water and air pollution caused due to rapid industrialization.
Increasing manufacturing activities in several industrializing countries have also added to product demand for the activated carbon market. Globally developing and increasing output from the pharmaceuticals and chemicals sector have also augmented for higher product demand due to increasing need of activated carbon for purifying feed water and several other components during manufacturing processes. Yearly increasing production of vehicles are supporting demand for activated carbon, owing to the fact that developing and even developed countries implement rigorous standards for emission from motor vehicles, thus creating the need for larger activated carbon based canisters.
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Activated carbon injection technology has gained immense popularity as a primary technology for mercury removal mainly in coal-fired power plants, solid waste incinerators, cement plants and industrial boilers. Several European countries and Canada has also framed mercury emission standards, however these are not as stringent as that of in the U.S. Disinfection byproduct limit for water used for consumption is also projected to drive product demand for activated carbon market over the forecast period. This is however a mature application in most of the developed countries, but for the emerging nation especially for the Asia pacific region it is a promising end-use segment.
The process for manufacturing of high performance activated carbons do not comply with the regulatory schemes of every developed nation and hence import or export of the products is a tedious task. Regenerated activated carbons do not retain efficiency to its full potential and increasing availability of effective yet inexpensive alternatives for activated carbon is a serious threat to the industry growth.
North America activated carbon market was the leading region in 2017. The U.S. Environment Protection Agency framed new forces of air and mercury toxic standards last year. These regulations require significant reductions for removal of mercury emitted from industrial processes. Stringent regulations for emission control in the country are the main reason that will increase demand for the product over the forecast period. Asia Pacific activated carbon market is anticipated to be the fastest growing market by 2026. China is the leading market in the region and implementation of their new five year plan for cutting down emission will drive product the activated carbon market demand over the forecast period.
Some of the leading industry participants in the activated carbon market include Oxbow Activated Carbon LLC, Prominent Systems Inc. , Silcarbon Aktivkohle GmbH , Donau Carbon GmbH , Kureha Corporation , Haycarb PLC , Kuraray Co. Ltd , Calgon Carbon Corporation , Cabot Corporation and Osaka Gas Co., Ltd.