NEW YORK, June 04, 2018 (GLOBE NEWSWIRE) -- The global activated carbon market is projected to witness a CAGR of 12.1% over the forecast period. The industry is likely to expand from USD 4.2 billion in 2017 to USD 10.2 billion by 2024. The growth can be primarily attributed to the increasing use of activated carbon for addressing the concerns regarding mercury emissions. The growing environmental concern for pollution control has fostered the use of activated carbon for reducing mercury emissions from power plants. Also, rising investment in the use of activated carbon for water purification has fueled the market demand over the years to come.
Furthermore, high end research and development is underway in order to develop new uses of activated carbon. Various key industry experts have been focusing on the use of activated carbon in food products that can cleanse or detoxify the body. These activated carbon food products such as black ice cream, black burger buns, black smoothies and black cheese, have recently witnessed a rise in social media coverage.
Coconut shell segment is expected to account for a significant share of the market owing to its widespread use
The most commonly used raw materials in the manufacture of activated carbon include coal (bituminous, sub-bituminous, lignite and anthracite), coconut shells, wood-sawdust (soft as well as hard) and peat. However, various other raw materials have been identified for the manufacture of activated carbon such as walnut shells, olive stones and palm kernels but their commercial application is limited due to their supply. Coconut shells being a renewable source of carbon offer hardness, low dust generation along with high resistance to abrasion. Therefore, are witnessed to have widespread usage currently.
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Granular segment considerably impacted due to its high application in liquid as well as gas phase applications
Activated carbon may be made available in different forms such as granular, powdered, impregnated, extruded, woven, polymer coated and more. Among these the granular activated carbon offers high adsorption that makes it ideal for removing contaminants from air, water, liquids and gases. Granular activated carbons have relatively larger particle size as compared to powdered ones. In addition, these activated carbon can be used for liquid as well as gas phase applications, thereby driving the market demand.
Activated Carbon Market - Regional insight
Asia Pacific emerged as the leading regional market owing to the rapid industrialization along with the initiation of various stringent regulations so as to address the rising environmental concerns. Also, the growing demand from countries such as China, Japan and India has significantly contributed to the market growth in the region. Moreover, its increasing application of in food and beverage & pharmaceutical sectors, besides water and air purification has led to the demand expansion.
Key findings from the report:
The report segments activated carbon market on the basis of raw material, type, application, end-use and region.
By Raw Material
By Type
By Application
By End-Use
By Region
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