Advanced Materials and Chemicals

Activated Carbon Market is Expected to Reach USD 6,343.9 Million by 2031

Apr 2024

Advanced Materials and Chemicals

As per the report published by Kings Research, the global Activated Carbon Market was valued at USD 4,311.0 million in 2023 and is projected to reach USD 6,343.9 million by 2031, growing at a CAGR of 5.03% from 2024 to 2031.

Increasing awareness of environmental pollution and the need for clean air and water is driving the demand for activated carbon in pollution control applications. Stringent regulations on emissions and water quality further fuel market growth. As industries strive to reduce their carbon footprint and comply with these regulations, the demand for activated carbon in pollution control applications is expected to continue to rise. Additionally, the growing concern among consumers regarding the impact of pollution on their health and the environment is promoting governments and organizations to implement more aggressive measures in controlling emissions. This, in turn, is likely to drive the adoption of activated carbon as a crucial tool in mitigating pollution and ensuring cleaner air and water for future generations.

Furthermore, ongoing advancements in activated carbon production technologies, such as steam activation and chemical activation, are leading to the development of more efficient and cost-effective products. Innovations in manufacturing processes improve performance, adsorption capacity, and sustainability, thereby fostering market growth. These advancements have further extended the range of applications for activated carbon, expanding its usage beyond traditional areas such as water and air purification. Industries such as pharmaceuticals, food and beverage, and automotive are increasingly utilizing activated carbon for various purposes, including catalyst support, gas purification, and odor control. As a result, the demand for activated carbon is expected to continue to increase in the coming years, thereby supporting market expansion. Additionally, the growing focus on sustainability has prompted manufacturers to explore renewable and eco-friendly sources of raw materials for activated carbon production, thereby fueling its growth.

Key Insights

  • By type, the powdered segment registered a significant revenue share of 51.25% in 2023
  • By application, the water treatment segment registered a significant revenue share of 37.58% in 2023
  • On the basis of region, Asia-Pacific held a significant revenue share of 36.21% in 2023

Kuraray Forms Strategic Partnership with GC and Sumitomo Corporation to Establish State-of-the-Art Facility for Advanced Plastic Production

April 2023: Kuraray Co., Ltd. collaborated with PTT Global Chemical Public Company Limited (GC) and Sumitomo Corporation to establish manufacturing facilities named Kuraray GC Advanced Materials Co., Ltd. and Kuraray Advanced Chemicals (Thailand) Limited. This plant aims to enhance and strengthen competitiveness within the Eastern Economic Corridor (EEC) region. 

Growing Need for Water Treatment Solutions to Drive Activated Carbon Market Growth

The demand for clean water for both industrial and municipal purposes emerges as a significant factor contributing to market expansion. Activated carbon is extensively used in water treatment processes to remove contaminants, impurities, and pollutants, ensuring safe drinking water supply. Activated carbon is a highly effective adsorbent that can remove a wide range of organic and inorganic compounds from water. Its porous structure provides a large surface area for adsorption, allowing it to trap and remove harmful substances such as heavy metals, pesticides, and chlorine. Additionally, activated carbon is a cost-effective solution for water treatment, making it a popular choice for both large-scale water treatment plants and smaller residential systems. Overall, the use of activated carbon in water treatment plays a vital role in protecting public health and ensuring access to clean and safe water sources.

Promoting Environmental Sustainability to Propel Activated Carbon Market Expansion

The growing shift toward sustainable and eco-friendly solutions presents lucrative opportunities for activated carbon manufacturers to develop products from renewable carbon sources and adopt greener production methods. Meeting the growing consumer demand for eco-friendly products can open new markets and enhance brand reputation. In addition, the growing awareness of the harmful effects of single-use plastics has led to an increased demand for alternatives, creating a potential growth opportunity for activated carbon manufacturers to innovate and introduce sustainable packaging solutions. By incorporating renewable carbon sources into their production processes, companies can not only reduce their carbon footprint but also appeal to a wider range of environmentally conscious consumers. This shift towards eco-friendly practices not only benefits the environment but also allows manufacturers to position themselves as leaders in the industry and gain a competitive edge.

Asia-Pacific Is Expected to Dominate the Market with a CAGR of 3.50% Over the Forecast Period 2024 to 2031

Based on region, the global activated carbon market is classified into North America, Europe, Asia-Pacific, MEA, and Latin America. Asia-Pacific dominated the market with a revenue share of 36.21% in 2023.  

This considerable regional market growth can be attributed to the increasing industrialization and urbanization in countries such as China and India, which have led to a rise in water and air pollution. Additionally, the growing awareness of the harmful effects of pollutants has driven the demand for activated carbon in various industries such as water treatment, air purification, and food and beverage processing. With stringent environmental regulations and the need for sustainable solutions, the demand for activated carbon is expected to continue to grow in the Asia Pacific region in the coming years.

Companies Focusing On Product Launches and Collaborations to Fulfill Consumer Demands

The global activated carbon market is consolidated with key players such as Calgon Carbon Corporation, Kuraray Co. Ltd., Osaka Gas Chemicals Co. Ltd., Carbon Activated Corporation, Jacobi Carbons AB, Kureha Corporation, Donau Carbon GmbH, Boyce Carbon, ADA Carbon Solutions, Puragen Activated Carbons. Companies employ a variety of strategic measures such as acquisitions, mergers, partnerships, product introductions, and collaborations to expand their business globally and enhance their competitive position.

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