The Activated Carbon Market is forecasted to grow at a high rate rising pollution rate along with the growing requirement for water treatment plants
The Global Activated Carbon Market was estimated at USD 4.5 Bn in 2020 and is expected to grow with CAGR of 12.2% during the forecast period.
The activated carbon market is majorly growing owing to the rising pollution rate along with the growing requirement for water treatment plants due to the scarcity of water across the globe. According to the data released by NASA, there is a mere 3% as freshwater available across the globe, among which, about 1% is available for human use. Owing to this, several countries around the globe including India, China, U.S., and Canada among others have been heavily making investing in water purification plants. This increased investment is expected to create growth opportunities in the activated carbon market during the forecast period. Additionally, growing product demand from the food and beverage sector for the removal of impurities or contaminants such as odour and colour from food liquids, sweeteners, beverages, syrups, glycerine, and organic acids are also proliferating the activated carbon industry growth across the globe.
Moreover, favourable federal policy programs, such as the Clean Water Act, the Safe Drinking Water Act, Best Available Technology managed by the Environmental Protection Agency (EPA), are anticipated to have a positive impact on the activated carbon market growth. These programs offer discharge & treatment regulations, frameworks for applying & operating innovative wastewater & water treatment technologies, and funding programs and provide subsidies to industries like the power generation industry to control pollution. Implementation of such favourable programs is expected to drive the demand in the activated carbon industry. Further, many major companies are adopting new product development and geographic expansion strategies as the major key strategies to sustain in the market. For instance, Dettol launched its new product Dettol SiTi Shield N95 Protect which is an anti-pollution mask that consists of carbon-activated extra protection and helps in protecting the lungs of users against certain airborne contaminants. Such innovative product launches are expected to be instrumental in expanding their existing consumer base, hence contributing to the activated carbon industry growth.
Global Activated Carbon Market by Region Outlook (Revenue, USD Million, 2021-2027)
In terms of geographic segmentation, the Asia-Pacific region is expected to grow with the fastest CAGR during the forecast period. This growth is highly attributed to growing water scarcity in the most populated countries across the globe such as China and India across the globe. According to International Development Enterprises India (IDEI), India is facing a crisis for fresh water and consists of just 4% of the world’s freshwater but 16% of the global population. Additionally, 76 million population in the country are without access to safe drinking water. Owing to this scarcity and growing water-borne diseases, the governing bodies in this region are heavily investing in developing and expanding water treatment plants which in turn is creating a high product demand in the region. In addition, China is the largest consumer of activated carbon across the globe and uses the product in a wide range of applications such as food and beverage, water treatment, healthcare, industrial processing, and automotive industries. All these aforementioned factors are contributing to creating the growth in the activated carbon market in the region.
Key Findings:
The key players operating in the activated carbon market are:
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