The global market for activated carbon was valued at USD 3.41 billion in 2021 and is anticipated to reach USD 19.24 billion in 2030 expanding at a compound annual growth rate (CAGR) of 2.76% from 2022 to 2030.
To enhance the surface area available for chemical reactions and adsorption, processed carbon is often activated to create activated carbon, which has pores that are tiny and have a low volume. The processing of organic material that already contains a significant amount of carbon results in the production of activated carbon. Activated carbon's primary feature is adsorption, which makes it useful for a wide variety of applications, including decaffeination, the finishing of metals, pharmaceuticals, filters, the removal of pollutants, and the storage of fuel. Activated carbon is used to remove lead, dissolved radon, mercury, and other odor-causing substances is enhanced by the fact that activated carbon may exist in both liquid and gaseous phases.
Because of its great adsorption potential for a broad variety of molecules, including odorous chemicals and carcinogenic pollutants, activated carbon is an ideal choice for the purification of air and gas. This is because activated carbon can remove contaminants. In applications like as personal safety and residential air purification, it removes potentially dangerous contaminants from the air streams, so supplying clean, non-hazardous air to the environment. In addition, the product finds application in the treatment of biogas and the separation of hydrogen. Because it protects equipment further down the production line, such as engines, catalysts, and fuel cells, from the corrosive effects of silicon dioxide and boosts output yields, it helps keep production costs to a minimum.
The increased number of people who want clean and risk-free drinking water is driving up the demand for the commodity. The qualities of the product, such as its large surface area accessible for adsorption, which makes it easy to remove impurities including oils, microorganisms, odour- and taste-imparting substances, and chemicals, are likely to be a contributing factor in the expansion of the market. For instance, Carbon Activated Corp. offers solutions for the industrial sector, as well as municipal groundwater filter systems in the United States and VOC/siloxane removal systems for biogas engines throughout Europe. The increased population of the world is driving up the demand for clean water among consumers and, as a consequence, driving up the amount of money spent on water purification.
A significant demand for activated carbon has been brought about by stringent rules surrounding the preservation of air quality as well as an increase in the number of municipal and industrial wastewater treatment facilities. Because of this, the pressure on the companies that generate activated carbon has intensified. As a solution, several companies that manufacture activated carbon are shifting their attention to the manufacturing of reactivated carbon, which, in comparison to the price of virgin activated carbon, is 20–30 percent less expensive.
In 2021, the Asia-Pacific region held a revenue share that was equivalent to fifty percent of the whole market. This is since Asia Pacific is an excellent market for the acquisition of coconut shells and AC that is derived from coconut shells. In this part of the world, uses for activated carbon most frequently involve the cleaning of water and the mining of gold.
After the Asia-Pacific region, the largest market in the world is in North America. It is anticipated that the primary elements having a beneficial influence on the market would be an increase in environmental concerns, a growth in the proportion of elderly people in the population, and growing demand for automobiles in the region.