Generally, activated carbons, which are produced from diverse organic ancestors, such as biomass, polymers, coal, organic or artificial fibers, etc. , are exposed to carbonization as well as activation processes. Severe government set of laws for mercury control from power plants, emission control, towering demand for hygienic drinking water, as well as industrial growth in the Asia Pacific, particularly in ASEAN Countries, drive the activated carbon market growth throughout the world.
Due to the active growth, the global activated carbon market is expected to reach 8.1 billion US Dollars by 2021 at a compound annual growth rate of 9.4%. By volume, the market is likely to grow at a compound annual growth rate of 8.4% by 2021.
There has been increasing use of activated carbon in industrial applications. This has led to boost its share in the gas phase applications, which is motivating the activated carbon market in the Asia-Pacific area. Moreover, activated carbon is widely used in pharmaceutical applications as well as in soil remediation applications.
The active use of the material makes it witness considerable growth during the preceding five years. This, in turn, will improve the intensification of the activated carbon market in the near future. However, shortage of raw material, particularly in Asia-Pacific, is the main factor that holds back the growth of the market internationally
The powder form of activated carbon has been in use throughout the world since 2015. Still, this practice continues, making the powdered activated carbon the fastest-growing sector in the modern-day market. There is a great demand for this type of activated carbon amid many industries in the world, including pharmaceutical industries to decolorize and deodorize. This active use of the substance will create more demand for the powdered form of activated carbon in the future. The business growth in emerging groups across the world, such as North African Countries, ASEAN countries, Central European countries, and Eastern European countries, is projected to impel the demand further.
Another sector of the active use of activated carbon is the gas phase application. It is considered the fastest rising application sector in the worldwide activated carbon market. This is for the reason that the substance is widely used to purify air as well as to remove mercury, chlorine, and hydrogen sulfide, paving the way to grow the global market of activated carbon. Furthermore, the increasing use of electronic and hybrid cars is likely to increase the demand for the activated carbon, as well, in the global automotive market.
Asia-Pacific is considered the fastest-growing activated carbon market in the world in terms of volume and value. There has been a considerable increase in companies, particularly automobile manufacturing companies, investing their money in procuring activated carbon. The growing shift of manufacturing facilities in the automotive sector to the budding economies of the area as well as the strong engineering bases are the main factors contributing to the development of activated carbon market in the world. Activated carbon is also actively used in mercury control to purify the air, which shows the way to drive the demand for activated carbon considerably.