The Global Activated Carbon Market was valued at around 1,666 kilo metric tons in 2020 and the market is projected to register a CAGR of over 3% during the forecast period (2021-2026). Due to COVID-19, the economies of several countries have been badly affected and several industries' growth and production have declined. However, the usage of activated carbon in face masks increased the market as the demand for face masks increased due to pandemic. Many manufacturing companies were on halt and few continued their flow of supply, making sure the industries which rely on their products are kept alive such as Haycarb. Few companies donated to the governments to battle against COVID-19. Haycarb PLC, in the battle against the global pandemic donated 3,000 face masks of Oxypura Care brand equipped with a carbon filter along with a TDK 20 filter material.

- In the medium term, major factors driving the market studied are conformance to stringent environmental regulations in water treatment applications in the United States and augmenting prominence for air pollution control (especially mercury removal).
- On the flip side, narrower markets due to the increased costs of some grades of activated carbon and the threat of substitutes like silica gel and super sand are expected to hinder the growth of the market studied.
- Asia-Pacific dominated the market across the globe with the largest consumption from the countries, such as China and Japan.

Key Market Trends

Increasing Demand for Water Treatment Application

- Water treatment is the largest application of activated carbon. Most of the water treatment filters are made up of granular activated carbon.
- In terms of volume, the water treatment segment is estimated to have the largest share, with around 52% of the total market, in 2020.

- It is used for the removal of organic-chemical substances and colorants and reduces trace substances, such as chemicals.

- Activated carbon is used as a polishing step to remove dissolved organic and non-biodegradable compounds, following physical and biological pre-treatment processes to remove solids and biological oxygen demand.
- Activated carbon removes the impurities from water primarily through surface adsorption. Usage of activated carbon for water purification purposes is also the most cost-efficient point-of-use (POU) water purification devices.

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- Additionally, the federal policy programs, including Safe Drinking Water Act and the Clean Water Act coordinated by the Environmental Protection Agency (EPA), provide treatment and discharge regulations, funding programs, and frameworks for operating and applying innovative water and wastewater treatment technologies. Hence, this is further expected to boost the demand for activated carbon from the water treatment segment.

- Moreover, capacitive deionization (CDI) has attracted increasing interest as a promising electrochemical technique for desalination of sea or brackish water. In this technique, activated carbon is considered as a promising CDI electrode material, mainly because of its high specific surface areas, low cost, and scalability.
- Therefore, considering the aforementioned factors, the demand for activated carbon is expected to rise from the water treatment segment during the forecast period. Moreover, the COVID-19 outbreak is expected to have a positive impact on the market due to increasing awareness toward water safety and hygiene.

China to Dominate the Market in Asia-Pacific Region

- Asia-Pacific region is expected to dominate the market with China being the top.
- In the Asia-Pacific region, China is the largest economy in terms of GDP. The country witnessed about 6.1% growth in its GDP during 2019, even after the trade disturbance caused due to its trade war with the United States. The economic growth rate of China in 2020 was initially expected to be moderate as compared to the previous year. However, due to the onset of COVID-19 in 2020, the economic growth of China is estimated to contract to some extent and is expected to witness recovery in 2021.

- China is the second largest consumer country of activated carbon in the world after the United States. Activated carbon is used widely in water treatment, food and beverage, healthcare, automotive industries, and industrial processing.
- Increasing water requirements from the industrial sector and changing government regulations for the prevention of water pollution and control action plan have increased the demand for water treatment in recent years. Moreover, according to government statistics, water shortage in China’s coastal areas is expected to reach 21.4 billion m3 by 2030. This shortage of water for industrial and residential use is expected to increase the demand for water treatment during the forecast period.
- China has one of the major food industries across the world. The growing population and the average per capita consumption are major drivers for the growth of the food market in the country. The revenue generated by the Chinese food industry increased from USD 248 billion in 2010 to USD 498 billion in 2019. The revenue generated by the meat products and sausages increased from USD 41.3 million in 2010 to USD 87.2 million in 2019. The revenue generated from milk products increased from USD 31.3 million in 2010 to USD 71.2 million in 2019.​
- Wastewater treatment is mainly because of the coal, steel and iron industries which require fresh water for the day to day activities.

- North China has approximately 90% of the countrycoal based industries. Also, North China has less reserves of fresh water, therefore, increasing the demand for waste water technologies which in turn is providing opportunities for the activated carbon market during the forecast period.
- Hence, from the above-mentioned factors, China is likely to dominate the market in Asia-Pasific region during the forecast period.

Competitive Landscape

- The market studied is consolidated, where the top-five players accounting for major share in the global market. The major companies for the activated carbon market include Cabot Corporation, JACOBI CARBONS GROUP, Ingevity, and KURARAY CO LTD., HAYCARB (PVT) LTD. among others.

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