The global activated carbon market is valued at USD 3,647. 48 million in 2021, and it is expected to register a CAGR of 5. 86% during the forecast period (2022-2027). Due to the COVID-19 pandemic, the usage of activated carbon in face masks increased in the market, as the demand for face masks increased due to the pandemic.
New York, April 22, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Activated Carbon Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" - https://www.reportlinker.com/p06271865/?utm_source=GNW Many manufacturing companies were on halt, and few continued their flow of supply, making sure the industries which rely on their products are kept alive, such as Haycarb. Haycarb PLC, in the battle against the global pandemic, donated 3,000 face masks of Oxypura Care brand equipped with a carbon filter, along with a TDK 20 filter material. Similarly, Donau Carbon GmbH donated 500 face masks based on carbon material to local Frankfurt hospitals as a helping aid. Key Highlights In the medium term, major factors driving the market are conformance to stringent environmental regulations in water treatment applications in the United States and augmenting prominence for air pollution control (especially mercury removal). On the flip side, narrower markets, due to the increased costs of some grades of activated carbon and the threat of substitutes like silica gel and supersand, are expected to hinder the growth of the market. Asia-Pacific dominated the market across the world, with the largest consumption from the countries, such as China and Japan. Key Market Trends Increasing Demand for Water Treatment Applications Water treatment is a popular application of activated carbons. Most of the water treatment filters are made up of granular activated carbon. It is used to remove organic-chemical substances and colorants and reduce trace substances, such as chemicals. Additionally, the federal policy programs, including the Safe Drinking Water Act and the Clean Water Act coordinated by the Environmental Protection Agency (EPA), provide treatment and discharge regulations, funding programs, and frameworks for operating and applying innovative water and wastewater treatment technologies. Hence, this is further expected to boost the demand for activated carbons from the water treatment segment. In terms of volume, the water treatment segment is estimated to have the second-largest share, with more than 30% of the total market, in 2022. In July 2021, Veolia enhanced the development of its water business in Japan by signing off the operation of the Miyagi Water and Wastewater Concession Project. This concession contract is for 20 years of O&M and renewal works of 8 treatment plants, with a total treatment capacity of over 900,000 m3 per day. In 2020, the European Investment Bank invested about EUR 4 billion in the water and wastewater management sector to provide safe drinking water to 29.6 billion people. This is expected to increase the water and wastewater treatment capacities in the region. Also, in 2021, the European Investment Bank (EIB) and the Flemish wastewater treatment company Aquafin collaborated with the signature of a new financing agreement worth EUR 100 million for enhancing wastewater treatment quantity. Therefore, considering the aforementioned factors, the demand for activated carbons is expected to rise from the water treatment segment during the forecast period. Moreover, the COVID-19 outbreak is expected to have a positive impact on the market, due to increasing awareness toward water safety and hygiene. China to Dominate the Market in the Asia-Pacific Region The Asia-Pacific region is expected to dominate the market. China is the largest activated carbon market in the world. Activated carbon is used widely in the water treatment, food and beverage, healthcare, and automotive industries and industrial processing. Increasing water requirements from the industrial sector and changing government regulations for the prevention of water pollution and control action plan have increased the demand for water treatment in recent years. Wastewater treatment is mainly used because of the coal, steel, and iron industries, which require fresh water for day-to-day activities. According to the International Trade Administration, China plans to build or renovate 80,000 km of sewage collection pipeline networks and increase sewage treatment capacity by 20 million cubic meters/day between 2021 and 2025. The OICA recorded production of automobiles in China to 26,082,220 units of passenger cars and light vehicles in 2021 up from 25,225,242 units in 2020. The growth in 2021 was 3%. Moreover, the CAAM estimates the production of the automobile is further likely to ascend with the growing demand from the passenger cars segment. China has the recognized market for pharmaceuticals and is the fastest emerging market for activated carbons. The country has a large and diverse domestic drug industry, comprising around 5,000 manufacturers, of which many are small- or medium-sized. Hence, owing to the above-mentioned factors, China is likely to dominate the market in the Asia-Pacific region during the forecast period. Competitive Landscape The activated carbon market is partially consolidated, where the top-five players account for a major share in the global market. The major companies in the activated carbon market include (not in any particular order) Jacobi Carbons Group, Ingevity, Kuraray Co. Ltd, Haycarb (Pvt) Ltd, and Cabot Corporation among others. Additional Benefits: The market estimate (ME) sheet in Excel format 3 months of analyst support Read the full report: https://www.reportlinker.com/p06271865/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. 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