The global activated carbon market size was valued at USD 4.77 billion in 2021 and is expected to reach a valuation of USD 4.98 billion in 2022. The market is expected to reach USD 7.73 billion by 2030 with a CAGR of 5.6% during the forecast period. Rise in water and air pollution is expected to increase the demand for water and air treatment machines. Demand for safe and potable water and continuous treatment of wastewater in various end-user industries is expected to drive market growth. Fortune Business Insights™ shares this information in its report titled “Activated Carbon Market, 2022-2030.”
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Drivers and Restraints
Rise in Water and Air Pollution to Thrust Product Demand
Growing need for safe and potable water is projected to drive the activated carbon market growth. Development in the market is attributed to the property of the product having a high surface area for adsorption that can remove impurities such as taste, odor, microbes, and oils imparting substances. Increasing levels of water and air pollution have proposed government authorities to treat industrial water waste. This is applicable in various industries, such as paper pulp, paints dyes, and chemicals, to install water treatment units.
However, high prices of raw materials due to shortage are anticipated to hinder market development.
Regional Insights
Demand for Safe and Potable Water to Thrust Market Growth in Asia Pacific
Asia Pacific is anticipated to dominate the activated carbon market share due to rising need for safe and pure water. Valuation of the region stood at USD 1.98 billion in 2021. Exponential increase in the population has increased the demand for safe and potable water. China and India are the major countries that require water treatments.
In North America, market is likely to propel owing to increasing demand for air and gas purification applications in the U.S.
In Europe, stringent rules and regulations for safeguarding of environment, including water treatment are expected to propel the demand for activated charcoal.
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https://www.fortunebusinessinsights.com/activated-carbon-market-102175
