Global Activated Carbon Market Report and Forecast 2024-2032

Global Activated Carbon Market Outlook

The global activated carbon market size attained a value of approximately USD 5.19 billion in 2023. The market is further expected to grow at a CAGR of 8.1% in the forecast period of 2024-2032, reaching a value of around USD 10.51 billion by 2032.

Key Takeaways

• Nearly 7 million people die annually due to indoor and outdoor air pollution.

• In 2022, the market volume of activated carbon was approximately 5.8 million metric tons worldwide.

• In 2021, India exported activated carbon worth USD 321 million to the United States, Sri Lanka, South Korea, and Germany.

Activated carbon, also known as activated charcoal, is a type of carbon that has been processed to increased surface area for chemical reactions and adsorption. It is produced from carbonaceous sources such as coconuts, nutshells, coal, peat, and wood. Activated carbon is produced in multiple forms, including powdered activated carbon (PAC), granular activated carbon (GAC), extruded activated carbon, and activated carbon fibres, each tailored for specific applications. Activated carbon is used in a variety of applications to purify liquids and toxic gases, including food and beverage processing, potable water treatment, odour removal, and controlling industrial pollution.

The activated carbon market development is experiencing an upward growth due to several key drivers. The increasing demand for clean drinking water and the use of activated carbon in water treatment applications, along with the need for air purification to control air pollution, particularly in the emerging economies, are significant factors propelling the market forward. Furthermore, the widespread use of activated carbon in various industries such as pharmaceuticals, food and beverage production, and automotive products is contributing to its market growth. Additionally, stringent environmental regulations and the need for companies to comply with emission standards are further boosting the activated carbon market demand.

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Key Trends and Developments

Growing demand for granular activated carbon, rising popularity of coconut shells, and increasing demand for gold mining are boosting the market growth

October 2023

ADA Carbon Solutions, a leading provider of powder-activated carbon announced an expansion plan for its Red River Parish facility by investing USD 251 million. Through this expansion, the company aims to transform purified coal waste into granular activated carbon.

February 2023

Evoqua Water Technologies acquired the industrial water treatment service business of Bob Johnson & Associates from Kemco Systems, expanding its presence in Texas. The business includes carbon tanks and deionisation (DI) assets.

February 2023

Evoqua Water Technologies entered into an agreement with DESOTEC to divest its carbon reactivation and slurry operations in Pennsylvania and Arizona, along with the reactivation and carbon vessel manufacturing plant in California.

March 2022

One Equity Partners acquired Norit Activated Carbon from Cabot Corporation. This acquisition is expected to strengthen Norit's position in the activated carbon market and support its growth in providing purification solutions.

Rising environmental awareness

Large-scale industrial plants tend to generate a significant amount of water and air pollution, and with increasing awareness about environmental preservation, there is heightened pressure to control pollution at the source. Sectors like chemicals, paints and dyes, and paper and pulp are establishing water treatment units incorporating activated carbon directly into their facilities, further boosting the activated carbon market growth.

Growing demand for granular activated carbon in water treatment

The granular variants of activated carbon are projected to experience robust demand within the wastewater treatment sector due to their efficacy in eliminating residual disinfectants and organic contaminants.

Rising popularity of coconut shells as feedstock materials

According to the activated carbon market analysis, coconut shell is one of the emerging feedstock materials used in the production of activated carbon. An increase in coconut production provides an impetus to the market for activated carbon.

Increasing use of activated carbon in mining sector

Activated carbon is increasingly utilised in the mining sector, particularly in gold purification processes, serving as an efficient adsorbent in gold recovery. Consequently, the upsurge in gold mining activities further reinforces the growth trajectory of the market.

Activated carbon, or activated charcoal, is widely being used in pharmaceuticals, where it has wide applications as an adsorbent to get rid of pollutants during drug manufacturing. This is likely to further aid the activated carbon market growth.

Another application sector for activated carbon is water treatment, accounting for nearly half of the total market share. Activated carbon is a highly effective tool for water purification, as it effectively absorbs pollutants from water and is used in the filtration process to remove residual contaminants from wastewater. Activated carbon also removes chlorine from the wastewater and has a large surface area that makes the absorption of contaminants from wastewater highly effective.

Additionally, carbon activation is being used in the automotive sector to monitor emissions, eliminate VOCs (volatile organic compounds) as well as improve cabin air quality. These diverse applications of activated carbon is expected to be a continuing activated carbon market trend.

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Global Activated Carbon Market Segmentation

Global Activated Carbon Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Powdered Activated Carbon 

• Granular Activated Carbon 

• Others

Market Breakup by Application

• Water Treatment

• Air Treatment

• Gold Treatment

• Respirators

• Solvency Recovery

Market Breakup by Feedstock

• Coconut Shell

• Wood/Coal

• Others

Market Breakup by Region

• North America 

• Europe 

• Asia Pacific 

• Latin America 

• Middle East and Africa

Powdered activated carbon is expected to hold significant market share due to its increasing demand from multiple industrial sectors

Powdered activated carbon is expected to increase the activated carbon market share, accounting for more than 50% of the total market. The segment is driven by its rising demand from multiple industrial sectors to control toxicity and mercury levels.

Both powdered as well as granular activated carbon are used in water treatment, where granular activated charcoal is used for the elimination of pollutants from the groundwater.

Coconut shells dominates the feedstock segment due to its wide use in production of activated carbon

According to the activated carbon market forecast, coconut shell is one of the emerging feedstock materials used in the production of activated carbon. An increase in coconut production provides an impetus to the market for activated carbon.

However, wood and coal are the other most common raw materials in the market currently, accounting for more than 60 per cent of the production. Coal-based activated carbon is extensively used in potable water purification, which is a major application sector of activated carbon.

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Competitive Landscape

The market players are engaged in acquisitions and product portfolio expansions to stay ahead in the competition.

Kuraray Co., Ltd. is one of the major Japanese chemical companies operating in various sectors, including chemicals and resins, fibres and textiles, high-performance materials, and medical products. The company has been operating since 1926 and has developed a diverse product portfolio, including products such as polyvinyl alcohol resin and film, methacrylic resin, nonwoven fabrics, polyester fibres, and activated carbon, among others.

Oxbow Activated Carbon LLC is a leading manufacturer and distributor of activated carbon solutions, headquartered in the United States. It is one of the world’s largest recyclers of refinery and natural gas byproducts. Founded in 1983, the company is involved in upgrading, handling, transporting, and selling petroleum coke to different sectors to produce aluminium, steel, electric power, and batteries, among other critical products.

Haycarb (Pvt) Ltd., founded in 1972, is a Sri Lankan company specialising in the production of coconut shell-based activated carbon. They're known for manufacturing a range of activated carbon products used in purification processes in industries like water treatment, air purification, gold recovery in mining, and more.

Indo German Carbons Limited (IGCL) is a leading international manufacturer and supplier of coconut shell-based activated carbon products and solutions. Established in 1995, the company is in the industrial hub of Cochin, South India. The company has more than 20 years of experience in the activated carbon industry.

Other key players in the global activated carbon market analysis include Shinkwang Chem. Ind. Co., Ltd, S.I.C.A.V Spa, Century Chemical Works Sdn. Bhd, Cabot Corporation, Osaka Gas Chemicals Co., Ltd., Donau Carbon GmbH, Norit Nederland B.V., Carbon Activated Corporation., Ingevity Corporation, Silcarbon Aktivkohle GmbH, CPL Activated Carbons, Eurocarb Products Limited, Euroquarz GmbH, Puragen LLC, and Active Carbon India Pvt. Ltd., among others.

Asia Pacific maintains a significant market growth due to region’s abundance of coconut shells

In the Asia Pacific, activated carbon is commonly derived from coconut shells and is increasingly preferred over the wood-derived kind due to its renewability and high adsorption properties, which can remove large quantities of micro-impurities. In emerging markets such as India and China, the expansion of the activated carbon market is expected to benefit from regulatory modifications, including amendments in China's environmental protection laws. China is a leading exporter of activated carbon, accounting for more than one-fourth of the total exports.

North America occupies the second largest market share due to the rising level of imports for activated carbon in the region. The United States is a leading importing country for activated carbon, followed by Japan. The main factors expected to boost the activated carbon market are rising environmental concerns, an increase in the geriatric population, and growing automotive demand in the region.

Key Highlights of the Report