Activated Carbon Market Size, Share & Trends Analysis Report By Type (Powdered, Granular), By Application (Liquid Phase, Gas Phase) By End-use (Water Treatment, Air Purification), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global activated carbon market size was valued at USD 3.62 billion in 2022 and is anticipated to expand at a compound annual growth rate (CAGR) of 2.6% from 2023 to 2030. The main growth driver is predicted to be increased demand for water treatment and sewage treatment applications.

The presence of a significant number of small pores on the surface of activated carbon, also known as activated charcoal, distinguishes it. The greater the number of pores, the greater the surface area, which increases the element's adsorption capability. It is frequently utilized in potable water filtration and sewage treatment plants, among other applications. Manufacturing technical developments are projected to boost growth even more.

Key raw material used for manufacturing the product are coconut shell, resin, wood, and viscose rayon. When a huge quantity of raw material is used in the manufacturing process, the carbon yield is high. The increasing demand for activated carbon black, coupled with the limited availability of raw materials, has led to a significant rise in their prices. As a result, manufacturers are constantly looking for ways to optimize their production processes and reduce their reliance on expensive raw materials to maintain profitability.

The purity of the product is largely dependent on the raw materials used. The GAC produced from wood contains calcium, whereas the ones manufactured from coal contains iron. In addition, coconut based contains 2-4% ash, wood has 3-6% ash, bituminous & anthracite has 5-15%, whereas lignite has 25-30% ash content. Wood based have a high proportion of meso and macropores in comparison to coal and coconut shell products.

For end-use industry, water treatment industry dominated other industries with a revenue share of 42.82%. This can be attributed because of activated carbon’s capacity to remove particulate and dissolved pollutants. It also removes contaminants and chlorine from water. It is used to purify the air to remove hazardous gases, smells, and harmful dust particles in greenhouses and manufacturing plants. The product can also be used in the food and beverage processing, pharmaceutical and medical, and automotive industries.

The pandemic of COVID-19 has hit every major sector. Major economies of the world had to impose lockdowns and restrictions to stop the spread of the virus. This had an adverse effect on the economy of all major countries. All industries and manufacturing units had shut down which negatively impacted the supply chain. Key countries including China, Germany, India, and Canada witnessed an unfavorable effect on the demand for the product. However, gradual opening up of various industries had led to a stable growth of the demand in the worldwide market.

Type Insights

Powdered activated carbon (PAC) type dominated the market with a revenue share of 61.1% in 2022. PAC possesses high adsorption capacity, can fulfill broad treatment objectives and can remove a range of particulates. Companies such as Cabot Corporation doubled their activated carbon production capacity in Canada in 2014, to meet the growing demand of PAC. The company declared an addition of 35 million lbs/year PAC production capacity to sufficiently meet high demand of the product from coal-fired utility industry for mercury removal.

The granular activated carbon segment is also growing significantly. This can be attributed by its regenerating. GAC is heavily used in air treatment and municipal water treatment plants. Key raw material used in manufacturing of GAC are coal and coconut shell charcoal.

Form Insights

Gas form dominated the market with a revenue share of 52.5% in 2022. Growing demand for water treatment techniques resulting from standards & regulations mandating industries to adopt these methods is a critical factor that is expected to aid the market. Governments and agencies have issued such standards to safeguard the environment. These initiatives are presumed to aid the market over the forecast period.

Gas phase majorly includes air purification. Companies such as Kuraray Corporation and more are the key formulators of the product for gas phase applications. Within the air purification industry, activated carbon is broadly utilized in gas masks and air conditioners among others. In gas phase application, the product is also used for gas separation, solvent recovery and more. Gas-phase application is the fastest growing form which is anticipated to reach USD 24.96 billion by 2030 in terms of revenue and lead the market during the forecast period.

Liquid phase is the second largest revenue contributor globally. The market is driven from growing environmental concerns and regulations mandating companies to adopt environment friendly water treatment techniques. Companies such as Evoqua Water Technologies offers granular activated carbon for liquid phase applications including water treatment and more, under the brand AquaCarb and Westates.

End-use Insights

Water treatment end-use segment dominated the market with a revenue share of 42.8% in 2022.Water treatment technology is gaining utilization across the globe. Various companies globally are innovating & developing new technologies for water treatment recycling. Standards mandating companies to adopt efficient water disposal techniques and utilize environment-friendly compounds are presumed to further aid the market.

Air purification end-use accounted for the second largest revenue contributor globally in 2022. This is attributable to the rising demand from both domestic and commercial applications for air-conditioners and air-filters. Technological advancements coupled with rapidly rising disposable income as well as increasing affordability to opt for fresher air are presumed to aid the market over the forecast period.

Rising adsorbent applications in food & beverage, processing industry is expected to aid the market. Activated carbon have various advantages such as easy removal of bad tastes, cost- effective, quick and complete removal of bad odors provide long-term color stability. Owing to these advantages activated carbon are widely used in food and beverage processing.

Regional Insights

Asia Pacific dominated the market with a revenue share of 51.0% in 2022. This is because Asia Pacific is a good market for the procurement of coconut shells as well as coconut shell-based AC. Activated carbon is typically used for water purification and gold mining applications in the region. Indian dry coconuts are preferred over the coconuts of other countries in Asia Pacific because they have better oil content. Several major market participants, including Jacobi Carbons and Haycarb, source coconut shells from Asian countries such as Sri Lanka, Indonesia, the Philippines, and India.

The leading players in the market have a strong presence in the Asia Pacific region and continue to invest in organic growth through joint ventures and licensing agreements. North America is the second largest market after Asia Pacific. Growing automobile demand in the region, rise in geriatric population and increasing environmental concerns are projected to be the key factors positively impacting the market. PAC applications are expected to witness a brisk rise while gas phase applications are presumed to witness a similar trend.

Key Companies & Market Share Insights

The presence of many multinational players in the market has resulted in high competition. These companies look forward to invest in research and development to achieve product differentiation. Government and companies are taking efforts to encourage the use of the product among the key end-use industries. For instance, Cabot Corporation developed NORIT GAC 830, an activated carbon black product used in the purification of water, food, and beverages. All these factors are expected to benefit the activated carbon market over the next forecast period.

Companies such as Cabot Corporation have fully integrated their processes. Raw material procuring, product preparation and distribution processes are fully integrated. The full integration strategy adopted by companies is done to offset the volatility involved in raw material procurement and to implement strict quality parameters on production. Some prominent players in the global activated carbon market include:

• CarbPure Technologies

•  Boyce Carbon

• Cabot Corporation

•  Kuraray Co.

• CarboTech AC GmbH

• Donau Chemie AG

• Haycarb (Pvt) Ltd.

• Jacobi Carbons Group

• Kureha Corporation

• Osaka Gas Chemicals Co., Ltd.

• Evoqua Water Technologies LLC

• Oxbow Activated Carbon LLC

• Carbon Activated Corporation

• Hangzhou Nature Technology Co., Ltd.

• Datong Coal Jinding Activated Carbon Co.

• CarbUSA, Sorbent JSC

Activated Carbon Market Report Scope 

Global Activated Carbon Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis on the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global activated carbon market report based on type, application, end-use, and region:

• Type Outlook (Revenue, USD Thousand; Volume, tons; 2018 - 2030)

  • Powdered

  • Granular

  • Others

• Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Liquid Phase

  • Gas Phase

• End-use Outlook (Revenue, USD Thousand; Volume, tons; 2018 - 2030)

  • Water Treatment

  • Food & Beverage Processing

  • Pharmaceutical & Medical

  • Automotive

  • Air Purification

  • Others

• Regional Outlook (Revenue, USD Thousand; Volume, tons; 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • Australia

  • Central & South America

    • Brazil

    • Argentina

  • Middle East & Africa

    • Saudi Arabia

    • South Africa