World News: 18:30 GMT Wednesday 17th April 2019. [Market Research Future via Globe Newswire via SPi World News]
Pune, India, April 17, 2019 (GLOBE NEWSWIRE) -- Market Research Future’s (MRFR’s) report on the activated carbon market predicts an 8.14% CAGR during the forecast period (2018-2023). With such a rise, the market can quite effectively surpass the USD 7,032.5 million valuation by the end of 2023.
At first, it seems to be the source of all pollution but then emerges a different truth. Activated carbon is one component that can take down the pollution level quite comprehensively. For industries, this is one of the reasons that makes activated carbon a lucrative option. The rise in the activated carbon market in the coming years would be quite substantial. Activated carbon, also known as activated charcoal, is a form of carbon treated with oxygen to increase the space between atoms. What makes it dynamic is its ability to percolate across sectors and aid them decisively.
Activated carbon is quite popular among industries. It can act as a filter and hold back a lot of chemicals from getting infused in air or water. Industries are all looking for eco-friendly measures to reduce their carbon footprint. Activated carbon has a large internal surface area and prevents the penetration of toxic gases by trapping them. Through the adsorption technique, it forms new compounds by reacting with chemicals. Some components do come to it like they have been attracted. Using such features, companies have started using it in granular or powder form to purify air and securing mercury, H2S, and BTX. Its integration in the defense sector is also quite impactful. The military is benefiting from it as in battlefields and various operations, activated carbon saves lives from poisonous gases. The manufacturing of gas masks includes activated carbons as a key element.
Ancient Chinese treatments and Indian Ayurveda regarded activated charcoal highly for its healing features. Its impact as a detoxifying agent is immense. It can help in digestion by absorbing digestive byproducts. Using this feature, several pharmaceutical companies have developed drugs. Activated charcoal’s impact in the skincare sector is quite substantial as it can effectively remove bacteria, chemicals, and dirt from the skin. Many skincare product manufacturers have started using the product as a component for face wash and scrubber. Active charcoals performance in dental care is quite extensive as it can effectively get rid off substances that stain the teeth. Its application as a water purifying agent extended its market percolation opportunities.
Among the influential activated carbon market players, the crème de la crème have been profiled by MRFR in the report comprise Osaka Gas Chemicals Co., Ltd (Japan), Cabot Corporation (US), Silcarbon Aktivkohle GmbH (Germany), Haycarb Plc (Sri Lanka), Kuraray Co., Ltd (Japan), Donau Carbon GmbH (Germany), DESOTEC Activated Carbon (Belgium), Prominent Systems, Inc. (US), Oxbow Activated Carbon (US), Kureha Corporation (Japan), and Lenntech BV (the Netherlands), among others.
In March 2019, researchers from the U.S.-based Purdue University came up with a method that nearly removes all traces of the excess oil from the produced water. The method requires exposing activated charcoal to sunlight to heat the water to purify it. Activated charcoal then absorbs the excess oil. The process would help the managing of wastewater in the U.S.
The same month also witnessed the launching of a new water filter from LifeStraw that can remove microplastics, E.coli, and other parasites by using activated carbon ion exchange filter.
MRFR’s keen analysis of the has segmentations based on type and application. By type, the activated carbon market can be segmented into powdered, granular, extruded, and others. In 2017, the powdered activated carbon segment recorded dominance over 53% of the global market, and the report predictions suggest an 8% CAGR on the cards during the forecast period with which the segment can reach up to USD 3800 million mark. The widespread use in water purification, gas and air purification in sectors such as the automotive, industrial chemicals, and food & beverage industries has ushered in prospects for the powdered charcoal segment.
Based on the application, the water purification segment reigned over 36% of the global market share in 2017. Its use in the residential and industrial sector is extensive.
The report published by MRFR on the activated carbon market includes Asia Pacific (APAC), North America, Europe, Middle East & Africa (MEA), and Latin America.
The APAC market is clearly on the driver’s seat. With a market coverage of 45%, as recorded in 2017, the region is further predicted to register the highest CAGR of 9% during the forecast period. The burgeoning region with several emerging economies is incorporating activated carbon in great quantity into the industrial sector. It has been triggered by government initiatives as well.
North America, with a market worth of USD 914 million, in 2017 can be considered the second largest market. Activated charcoal is gaining substantial accolade in the region as mercury-remover. Government policies and EPA demands have made it necessary to include activated charcoal in the manufacturing process of several ingredients.
Latin America’s prospect of reaching to the USD 430 million worth by 2023 can be attributed to the increasing consumption of the activated carbon in water purification and air purification procedures.
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Globe Newswire: 18:30 GMT Wednesday 17th April 2019
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