Activated carbon is one of the most popular derivatives of charcoal, which can be manufactured from different organic materials with higher degrees of carbon content. The most common materials used for manufacturing activated carbon include wood, bituminous coal, coconut shells, peat and lignite. These products have a large number of applications across different industrial verticals. High degree of microporosity of activated carbon increases their surface area required for increased adsorption. Growing applications in water treatment is the strongest driver for activated carbon market, which is witnessing steady growth for the past few years. Experts suggest steady growth for the industry in the future as well. Thanks to increasing scarcity for pure water sources and advancing application areas are driving the global industry.
Segments in Active Carbon Market
In order to understand all the components of the industry, researchers segment the industry on the basis of the types of products, basic applications and demand patterns across different geographic regions. Basic products available in activated carbon market include granular, powdered and other types of activated carbon. Based on the types of applications, the industry is segmented into two types, which include liquid phase and gas phase. Both these phases are sub-segmented further on the basis of the industrial verticals. Liquid phase products are largely deployed in food and beverage, water treatment, pharmaceutical and medical industries. Gas phase products are largely deployed in industrial and automotive sectors. Geographically, the industry is segmented into Asia Pacific, Europe, North America and rest of the world.
Market Trends and Forecasting Reports
According to the market research reports, activated carbon market is estimated to make a strong progress at a compound annual growth rate of over 11% from 2011 to 2016. During the forecasting period, the industry is expected to cross $3 billion mark by the end of year 2016. In 2011, the industry was estimated to be worth more than $1.8 billion. Based on the segments, granular and powdered active carbon are the strongest products to generate revenue in different geographic regions of the world. Water treatment is expected to be strongest application area for the industry to gather higher business opportunities. Growing water treatment activities in Asia Pacific, Middle East and Africa and Latin America are also considered to be key factors for the industry to make a strong influence in these emerging markets. As of 2013, China, Canada, Japan and United States of America remain the strongest geographic regions.