Activated Carbon Market Size

Global Activated Carbon Market Overview

The Activated Carbon Market Size was valued at USD 6.36 Billion in 2023. the Activated Carbon industry is projected to grow from USD 6.84 Billion in 2024 to USD  12.29 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.60% during the forecast period (2024 - 2032). During the forecast period, the increasing demand for clean water and the need to remove contaminants from water sources is a significant driver of the Activated Carbon Market. Activated carbon is commonly used to adsorb natural organic compounds, taste and odor compounds, and synthetic organic chemicals from drinking water. It is an effective adsorbent because it is a highly porous material and provides a large surface area to which contaminants may adsorb. It can also be used for water softening. In addition, heavy metals, such as lead, can only be removed with a very specific kind of activated carbon water treatment, which is typically used only in residential point-of-use filters. Major manufacturing industries, such as chemicals, oil & gas, food & beverage, mining, and textiles, generate a large amount of wastewater daily. This water is loaded with several contaminants, such as non-biodegradable chemicals, organic matter, and traces of metals and oxides. This necessitates the need for treating the effluent water because, if not treated, the contaminated water may cause gastrointestinal problems, diarrhea, nausea, dehydration, and even death.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Activated Carbon Market Trends

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  HIGH DEMAND IN THE PHARMACEUTICALS AND HEALTHCARE INDUSTRY

  
  

The pharmaceutical industry has emerged as a significant driver for the Activated Carbon Market, with the material playing a crucial role in various pharmaceutical applications. Activated carbon's unique properties and versatility make it an indispensable component in the production and purification of a wide range of pharmaceutical products. In the pharmaceutical industry, activated carbon is used extensively to separate and clean suspensions, usually solvent-based, and to influence reaction processes. One of the primary applications of activated carbon in this sector is the removal of color and impurities during the production of essential vitamins, such as vitamins A, D, E, K, B, C, H, and folic acid. Activated carbon's exceptional adsorption capabilities allow it to effectively remove these unwanted substances, ensuring the purity and quality of the final pharmaceutical products.

Furthermore, activated carbon is used to purify various painkillers, including acetaminophen, caffeine, paracetamol, and salicylic acid. The ability of activated carbon to selectively adsorb specific contaminants while preserving the desired active ingredients makes it a valuable tool in the pharmaceutical manufacturing process. The continuous investments made by pharmaceutical companies and outsourcing firms to expand their manufacturing facilities have positively impacted the activated carbon market. For instance, in February 2020, AstraZeneca invested $133 million in the expansion of its Australian manufacturing site, highlighting the industry's commitment to enhancing production capabilities and meeting the growing demand for pharmaceutical products.

In January 2024, Nordmann, a chemical manufacturer based in Germany, purchased Italy-based SD Chemicals S.r.l., which is a business involved in the distribution of raw materials for the cosmetics industry focused on skin care, hair care and makeup. Such an acquisition will help Nordmann to strengthen its position and extend customer coverage.

In January 2023, Ningbo Juhua Chemical & Science Co., Ltd. signed an agreement with Technip Energies for the construction of an Activated Carbon plant in Ningbo, Zhejiang, China, with a capacity of 72 kilotons per year. This is in line with the company’s efforts to diversify its petrochemical new material operations.

RISING USE IN ELECTRONICS & ELECTRIC VEHICLES

The growing popularity of activated carbon in smart electronics and electric vehicles presents a significant opportunity for the Activated Carbon Market. As supercapacitors and lithium-ion batteries emerge as promising energy storage solutions for applications like portable electronic devices, hybrid electric vehicles (HEVs), and uninterrupted power systems (UPS), the demand for high-performance, low-cost, and environmentally friendly energy storage systems is on the rise. Carbon-based materials, including activated carbons, are gaining traction in energy-related applications due to their ease of processing, abundance, chemical and thermal stability, and the ability to modify their structural and textural properties for specific applications. Activated carbons, with their large surface area, high pore volume, and relatively low cost, are prominent carbon materials for energy storage applications. They are increasingly being used in the manufacturing of supercapacitors and for hydrogen storage, showcasing their versatility and effectiveness in these cutting-edge technologies

Activated Carbon Market Segment Insights

Activated Carbon by Product Insights

The Activated Carbon Market segmentation, based on product has been segmented as Powdered, Granular, and Others. In 2023, the contactor powdered segment drove the activated carbon Market by holding a substantial market share of 53.3% with a market value of USD 4,532.57 million. It is projected to register a CAGR of 9.22% during the projected timeframe. Powdered activated carbon has a relatively smaller particle size than other types, which provides it a larger surface to volume ratio and hence better adsorption ability. PAC is typically produced by carbonizing and then activating carbon material through heating and the introduction of oxygen or chemicals like phosphoric acid. This process creates a highly porous structure with a large surface area per unit of volume, which enhances its adsorption capacity.

Activated Carbon by Raw Material Insights

The Activated Carbon Market segmentation, based on raw material has been segmented as Coal, Coconut, Wood, Peat, and Others. In 2023, the coal segment drove the activated carbon market by holding a substantial market share of 43.9% with a market value of USD 3,735.33 million. It is projected to register a CAGR of 9.59% during the projected timeframe. The unique pore distribution of coal-based activated carbon makes it suitable for various applications, such as odor control in liquid and vapor phase applications, taste improvement in liquids, liquid decolorization, and purification of wastewater and potable water. Coal-based activated carbon is widely used in gas phase purification, potable water purification, wastewater purification, and aquarium/pond water purification applications.

Activated Carbon by Application Insights

The Activated Carbon Market segmentation, based on application has been segmented as Liquid-Phase, and Gas-Phase. In 2023, the liquid-phase segment drove the activated carbon market by holding a substantial market share of 64.1% with a market value of USD 5,448.99 million. It is projected to register a CAGR of 9.22% during the projected timeframe. Activated carbon is highly effective in liquid phase applications due to its large surface area and porous structure. The activated carbon adsorbs the target compounds onto its surface, effectively removing them from the liquid. The contaminants can include organic compounds, volatile organic compounds (VOCs), pesticides, chloramines, heavy metals, and other pollutants.

Activated Carbon by End-User Insights

The Activated Carbon Market segmentation, based on end-user has been segmented as Water Treatment, Food & Beverage Processing, Pharmaceutical & Medical, Automotive, Air Purification, Mining, Textiles, Electronics, and Others. In 2023, the air purification segment drove the activated carbon market by holding a substantial market share of 24.2% with a market value of USD 2,057.73 million. It is projected to register a CAGR of 9.45% during the projected timeframe. Activated carbon is highly porous, inert, and is safe to handle. It is used in flue gas cleaning at waste incineration plants to remove heavy metals and dioxins. In addition, it is used in gas masks, cigarettes, air conditioning, refrigerator filters, and kitchen exhaust hoods. Furthermore, powdered activated carbon is widely used in flue gas treatment for mercury removal from cement kilns, waste incinerators, coal-fired generators, and industrial boilers. Thus, all these factors are anticipated to drive the demand for activated carbon in the air purification.

Activated Carbon Regional Insights

Based on Region, the Activated Carbon market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. The Asia Pacific region in Activated Carbon market emerged as the leading and the fastest-growing segment with a CAGR of 9.36%. The segment is projected to reach a value of USD 9,064.16 million by the end of the forecast period. The robust growth of the chemicals, food & beverage, and automotive industries in China, India, and Indonesia is fueling the demand for activated carbon. The increasing need for water purification and reuse in the industrial sector in the region due to the scarcity of water is likely to boost demand for the product in the coming years. The growth of the automotive industry in the region and the increasing use of activated carbon to curb the gaseous emissions from automobiles are projected to propel the regional market growth during the forecast period. According to Invest India, the market for electric vehicles is anticipated to witness a growth at a CAGR of 49% from 2022 to 2030 thus, anticipated to drive the demand for activated carbon used in automotive industry. China is the leading producer and consumer of activated carbon globally, and the major electric vehicle producer in the world. The expected rise in consumption of the product in energy storage and pharmaceutical applications is likely to drive the regional market growth in the years to follow.

Activated Carbon Key Market Players & Competitive Insights

The Activated Carbon Market is characterized by the presence of global, regional, and local players. The market is highly consolidated, with all the players competing to gain significant market share. The key manufacturers of activated carbon compete based on cost, product quality, availability of raw materials, and durability of the product. They are engaged in expanding their production capacity and investing in R&D activities to gain an edge over competitors. Furthermore, the growing popularity of activated carbon in smart electronics and electric vehicles is expected to offer lucrative opportunities to manufacturers in the coming years. However, scarcity of raw materials is expected to hinder the growth of the market studied significantly. The key players operating in the Activated Carbon Market include Osaka Gas Chemicals Co., Ltd, Kuraray Co., Ltd, Haycarb (Pvt) Ltd, Kureha Corporation, Donau Carbon GmbH, DESOTEC Activated Carbon, NORIT, Carbon Activated Corporation, Silcarbon Aktivkohle GmbH, Karbonous Inc, and Lenntech BV among others.

Norit: Norit is a global leader in the development, manufacturing, and distribution of activated carbon products for a wide range of industries. With a rich history of innovation and expertise in carbon purification, Norit provides high-grade activated carbons tailored to meet the needs of environmental, health, safety, and industrial applications. Their extensive product portfolio includes granular and powdered carbon systems, membranes, and modules that excel in filtration and purification processes. The company serves wide range of industries to purify biogas, beverages, foods, chemicals, water, and pharmaceutical ingredients among others. Their activated carbon products not only offer exceptional purification capabilities but also find applications as colorants, catalyst supports, and catalysts in diverse industrial processes. Operating ten plants across seven countries on three continents including Europe, America, and Asia Pacific, Norit has established a global presence and maintains a strong focus on innovation and product development to effectively address the evolving needs of its customers. It provides more than 400 grades of activated carbons serving 100 plus countries worldwide in EMEA, America, and Asia Pacific region.

Osaka Gas Chemicals Co., Ltd (Osaka): Osaka Gas Chemicals Co., Ltd (Osaka) is a specialty chemicals company that manufactures and sells materials and solutions based on coal chemistry and medical technologies. It operates through various segments, namely activated carbon and its application products, carbon fiber and its application products, fine materials, resin additives, battery materials, preservatives, and processing. Under the activated carbon and its application products segment, it offers activated carbon that is used in the purification processes in food, alcohol and pharmaceutical manufacturing, air purifiers, and water filters. To ensure efficient product delivery, Osaka Gas Chemicals collaborates with a network of group companies, including SDCC in China, DCCC in the Philippines, and domestic companies such as Ad'All, Ful-Fine, OnFine, Japan EnviroChemicals (JEC), and Minabe Chemical Industries. This collaboration allows them to effectively serve customers and expand their reach. Osaka Gas Chemicals serves customers in more than 100 countries through their subsidiary Jacobi Carbons AB and their 10 manufacturing plants worldwide having production capacity of 120,000 tons per year and regenerated capacity of 7,000 tons per year.

Key Companies in the Activated Carbon Market includes.

• NORIT


• Osaka Gas Chemicals Co., Ltd.


• Kuraray Co., Ltd.


• HAYCARB (PVT) LTD


• Kureha


• Donau Carbon GmbH


• Silcarbon Aktivkohle GmbH


• Lenntech B.V.


• Karbonous Inc


• Carbon Activated Corporation

Activated Carbon Industry Developments

December 2023: Haycarb PLC, a leading manufacturer of coconut shell activated carbon, has initiated a coconut growing campaign in the northern region of Sri Lanka. This campaign is a collaborative effort between Haycarb PLC and the Coconut Research Institute of Sri Lanka. The coconut growing campaign in the northern region of Sri Lanka is part of Haycarb's commitment to sustainability and ensuring a reliable supply of coconut shells, which are the raw material for their activated carbon production. By actively engaging in coconut cultivation, Haycarb aims to secure a sustainable and high-quality source of coconut shells for their manufacturing operations.

October 2023: Calgon Carbon Corporation, a subsidiary of Kuraray Co., Ltd., has announced the expansion of its Pearlington, Mississippi facility. This expansion involved the installation of a second production line for virgin activated carbon, resulting in a substantial boost in production capacity. As a result, Calgon Carbon, renowned as the largest global manufacturer of activated carbon and reactivation services, will now have the capability to produce over 200 million pounds of virgin activated carbon annually.

March 2022: One Equity Partners ("OEP"), a private equity firm announced the acquisition of Norit Activated Carbon, a leading global manufacturer of activated carbon specializing in providing purification solutions, from corporate parent Cabot Corporation.

November 2022- Cabot Corporation entered the market with conductive carbon additives (CCA) LITX® 93 series for electric vehicles (EV), energy storage systems and consumer electronics concentrating on lithium-ion batteries. Thanks to the shape and dispersibility of the particles in the LITX 93 series, lithium-ion batteries can be designed to be both highly energy-dense and capable of rapid charge and discharge rates.

October 2022- Prices for carbon black products sold with specialty carbons worldwide or ever since November 6, 2022, or as per contract, increased due to Cabot society's common reasons. There was a growth of primary raw material costs as well as other costs relating to the production of the products that called for this increase in prices. The increase in pricing and the time when such an increase will take place will also depend upon the different products and different geographical markets.

Activated Carbon Market Segmentation

Activated Carbon Product Outlook

• Powdered


• Granular


• Others

Activated Carbon Raw Material Outlook

• Coal


• Coconut


• Wood


• Peat


• Others

Activated Carbon Application Outlook

• Liquid-Phase


• Gas-Phase

Activated Carbon End-User Outlook

• Water Treatment


• Food & Beverage Processing


• Pharmaceutical & Medical


• Automotive


• Air Purification


• Mining


• Textiles


• Electronics


• Others

Activated Carbon Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  • Mexico
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Denmark
  
  
  • Norway
  
  
  • Sweden
  
  
  • Finland
  
  
  • Iceland
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Bangladesh
  
  
  • Australia & New Zealand
  
  
  • Indonesia
  
  
  • Singapore
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• South America
  
  
  
  • Brazil
  
  
  • Argentina
  
  
  • Chile
  
  
  • Rest of South America
  
  
  
  


• Middle East & Africa
  
  
  
  • Saudi Arabia
  
  
  • Qatar
  
  
  • UAE
  
  
  • Oman
  
  
  • Bahrain
  
  
  • Kuwait
  
  
  • South Africa
  
  
  • Rest of Middle East & Africa