Activated Carbon Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Powdered, Granular, Pelletized, and Others) and Application (Water Treatment, Food & Beverages, Pharmaceuticals, Automotive, and Others)

The activated carbon market is projected to grow from US$ 4,350.6 million in 2021 to US$ 8,264.0 million by 2028; it is expected to register a CAGR of 9.6% from 2021 to 2028. Activated carbon or activated charcoal is produced from coal, coconut husk, and willow peat. It is majorly used to filter containments from water and air. Activated carbon finds its application in various industries, such as the food & beverages, pharmaceuticals, and chemicals, for the adsorption and filtration of unwanted materials at the time of processing.

Based on application, the global activated carbon market is segmented into water treatment, food & beverages, pharmaceuticals, automotive, and others. The water treatment segment held the largest market share in 2020. Activated carbon is increasingly used in service water treatment, groundwater rehabilitation, and drinking water treatment. It is also used in treatment of industrial wastewater to recover useful materials and the same treated water is further consumed for manufacturing use.

In 2020, Asia Pacific held the largest revenue share of the global activated carbon market. In Asia Pacific, the water treatment industry is the largest consumer of activated carbon. Initiatives by various government organizations, such as the Australian and New Zealand Environment and Conservation Council and the Ministry of Environment and Forests (the Government of India), to remove waste and undesirable compounds from industrial wastewater before disposal is driving the water treatment industry in the region. Moreover, Asia Pacific has a dominant automotive industry where activated carbon is extensively used to manufacture canisters. These factors are growing the demand for activated carbon in the region.

A few of the key market players in the global market are Osaka Gas Chemical Co. Ltd; KURARAY CO., LTD.; HAYCARB (PVT) LTD.; Cabot Corporation; KUREHA CORPORATION; Activated Carbon Technologies Pty Ltd; Albemarle Corporation; CPL Activated Carbons; JACOBI CARBONS GROUP; Calgon Carbon Corporation; and James Cumming & Sons Pty Ltd.

The overall global activated carbon market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic.

The participants involved in this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the activated carbon market.