Global activated carbon market size is likely to be valued at USD 5.3 billion by 2020; as per a new research report by HexaResearch. Increase in commercial & residential waste water treatment demand owing to escalation in water prices is anticipated to drive the growth. Growth in air filtration demand owing to rapid industrialization n countries such as China, Russia, India, Brazil and Mexico is likely to positively influence overall growth.
Powdered activated carbon (PAC) dominated the product segment and accounted for over 56% of the total volume in 2013. Increasing application scope in cement industry, municipal treatment, groundwater remediation and beverage industry is likely to drive its growth. GAC (granular activated carbon) is anticipated to witness gains at an estimated CAGR of 11% from 2014 to 2020.
Global activated carbon market is highly consolidated by top players. High coconut shell production in SriLanka which is important raw material for activated carbon is expected to create an opportunity for the market players in Asia Pacific.Some of the major companies operating in global market include Cabot Corporation, Calgon Carbon Corporation, Carbon Resources LLC, CarboTech and Haycarb PLC, and MeadWestvaco Corporation among other.
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Favorable regulations such as “Clean Air Mercury Rule” from EPA for lowering mercury emissions from coal-power fired industries are likely to support activated carbon market demand. Tight raw material supply situation of coal, wood pulp and coconut shell is likely to affect overall industry profitability.
Asia Pacific has been dominating the global market over the recent past, and the trend is expected to continue over the next six years. China was the leading exporter among other nations in 2012. Growing water purification market in India, Thailand, and China owing to increasing population is anticipated to have positive impact on activated carbon market over the foreseeable period. In addition, growing automotive market in China is likely to drive activated carbon market in Asia Pacific region. U.S. accounts for largest market of activated carbon. Growing pharmaceutical industry in North America is expected to influence activated carbon market over the forecast period. Europe activated carbon market is expected to experience significant growth over the next six years on account of increasing beverage industry in Germany.
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