Activated Carbon Market Size, Share & Trends Analysis Report By Product (Powdered, Granular), By Raw Material, By Application, By End-use, By Region, And Segment Forecasts, 2024 - 2030

Research Methodology

A three-pronged approach was followed for deducing the activated carbon market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for activated carbon market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of activated carbon market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Activated Carbon Market Categorization:

The activated carbon market was categorized into four segments, namely type (Powdered, Granular), application (Liquid Phase, Gas Phase), end-use (Water Treatment, Food & Beverage Processing, Pharmaceutical & Medical, Automotive, Air Purification), and regions (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).

Segment Market Methodology:

The activated carbon market was segmented into type, application, end-use, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The activated carbon market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into seventeen countries, namely, the U.S.; Canada; Mexico; Germany; the UK.; Italy; France; Spain; China; India; Japan; South Korea; Australia; Brazil; Argentina; Saudi Arabia; South Africa.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Activated carbon market companies & financials:

The activated carbon market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• CarbPure Technologies , CarbPure was established in 2005 and headquartered in Greenwood Village, Colorado, U.S. The company is a part of Advanced Emission Solutions, Inc., a manufacturer and supplier of high-quality activated carbon products. Its products are majorly used in water treatment applications. The company is vertically integrated to ensure a constant and reliable supply of quality products to its customer base. CarbPure Technologies also has research and development centers to introduce new instrumentation required in unique product development techniques. The company's products are regulated and tested under the American Society for Testing and Materials (ASTM) standards. It also has various supply agreements and partnerships to ensure a constant and quick supply of its products throughout various regions.

• Boyce Carbon , An Indian company started in 2005 produces, supplies, and exports premium-quality eco-friendly activated carbon products made from coconut shells. The company's products are used in pharmaceuticals, chemicals, food processing, water treatment, and beverage industries. The company has production facilities in four countries and offices in nine countries worldwide.

• Cabot Corporation, US-based Cabot Corporation was established in 1882. The company is a global specialty chemical and performance materials company offering a wide range of products and solutions for various industries. One of its main products is activated carbon. The company offers granular activated carbon, powdered activated carbon, and extruded activated carbon. It also provides customized activated carbon solutions specific to the requirements of its customers. Cabot Corporation also offers technical support and consulting services to help customers optimize their use of activated carbon. The Performance Chemicals segment of the company combines the specialty carbon, compounds, and inkjet colorants product lines into the specialty carbons and formulations business.

• Kuraray Co., The organization was founded in 1926 in Tokyo, Japan. Kuraray Co. employs more than 11,000 people across the globe. The company produces and sells activated carbon, along with other products. Its products are categorized under plastics and polymers, fibers and textiles, chemicals/elastomers and rubber, new businesses, engineering, and medical and environment-related categories. The company also has a research and development department comprising two research and development centers in Kurashiki and Tsukuba. The company has a significant global presence with offices in the U.S., Germany, Belgium, China, Korea, Hong Kong, and India.

• CarboTech AC GmbH , Carbotech is one of the leading manufacturers and suppliers of granulated, powdered, and extruded activated carbon products. The company was established in 1956 in Essen, Germany. Its products are used in the food and beverages industry, as well as in fluid treatment, hydrogen purification, air and gas purification, water and wastewater treatment, and carbon molecular sieve applications. The company's production facility is located in the industrial Ruhr conurbation of Germany. Under its sustainability initiatives, Carbotech is shifting its focus from producing powdered activated carbon to granular activated carbon owing to the highly sustainable nature of the latter. The products of the company are Halal, Kosher, and ISO certified and fulfill the REACH requirements.

• Donau Chemie AG , Donau is headquartered in Vienna, Austria. It was started in 1938 as a family-owned business that produces, distributes, and supplies a variety of products through its four business units, namely, BU Donau Chemie, BU Donauchem, BU Donau Carbon, and BU Donau Kanol. Activated carbon is manufactured and distributed through the company's BU Donau Carbon business unit. Donau Chemie AG has multiple research and development centers, which ensure the quality of products manufactured and processes used for their production. For instance, the company tests and evaluates the quality of activated carbon during its manufacturing according to the regulations and requirements of the American Society for Testing and Materials (ASTM), the American Water Works Association (AWWA), Conseil Europeen des Federations de l’Industrie Chimique (CEFIC), the European Standard, and Food Chemicals CODEX. Donau Chemie AG has a wide geographical presence in more than 11 countries across the world.

• Haycarb (Pvt) Ltd. , Haycarb (Pvt.) Ltd. manufactures activated carbon derived from coconut shells and markets it. The products offered by the company are used in water and wastewater cleaning and treatment, air and gas purification, food and beverages, gold, and specialty applications. Haycarb (Pvt.) produces approximately 50,000 metric tons of activated carbon annually. The company develops activated carbon through its six manufacturing facilities located in Indonesia, Sri Lanka, and Thailand. The company sells its products to countries such as the UK, the Netherlands, Australia, the U.S., etc. The products of Haycarb (Pvt.) Ltd. is marketed globally under the brand name Haycarb. The company is fully integrated along the value chain, right from the raw material selection stage to the packaging and supplying of end products to consumers. It has numerous subsidiaries that operate in different countries, thereby acting as major distribution centers of Haycarb (Pvt.) Ltd to ensure a constant supply of its products across the world. The products of the company are Kosher, Halal, UK Accreditation Service (UKAS) Quality Management, and Sri Lankan Standards Institute (SLSI) certified. In addition, the water-grade carbon products of Haycarb (Pvt.) Ltd is National Sanitation Foundation (NSF) certified.

• Jacobi Carbons Group , Jacobi Carbons Group is a Sweden-based company that employs more than 20000 workforce worldwide. Jacobi Carbons Group, a subsidiary of Osaka Gas Chemicals Co., Ltd., is a manufacturer of ion exchange resins, activated carbon, and filter servicing products. The products offered by the company are used in the food and beverages industry, water treatment applications, flue gas and mercury, home water filters, catalyst functions, personal and collective protection applications, cabin air filters, and air and gas treatment applications. The company is among the world's top producers of coconut-based activated carbon. It has a vast geographical reach with over 25 production hubs and processing facilities across Europe. In addition, Jacobi Carbons Group has two reactivation plants in the region.

• Osaka Gas Chemicals Co., Ltd. , Osaka Gas Chemicals Co., Ltd. is a Japan-based company established in 1931 that operates through two major business segments, namely advanced material solutions and absorption and separation solutions. The products of the company are categorized as fine chemical materials, surface processing, resin additives, wood preservatives, industrial preservatives, and activated carbon and its products. Activated carbon products of Osaka Gas Chemicals Co., Ltd. are marketed under the Shirasagi brand. The company has a product development and distribution centers in Osaka, Japan. In addition, it also has a technology center in Nara, Japan.

• Kureha Corporation , Kureha Corporation is a Japanese company that produces and sells functional materials, specialty plastics, and specialty chemicals. The company's products are used in fishery, construction, automotive, packaging, factory, energy, agriculture, and medical applications. Kureha Corporation offers activated carbon under its advanced materials business line across the world. It has two major production facilities in Japan. The company also has a skill training center at its Iwaki factory. Kureha Corporation has its research and development facility adjacent to the Iwaki factory to ensure the quality of its products and facilitate their expert manufacturing.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Activated Carbon Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Activated Carbon Market Report Assumptions:

• The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.