The global activated carbon market size was valued at USD 4.77 billion in 2021 and is expected to reach a valuation of USD 4.98 billion in 2022. The market is expected to reach USD 7.73 billion by 2030 with a CAGR of 5.6% during the forecast period. Rise in water and air pollution is expected to increase the demand for water and air treatment machines. Demand for safe and potable water and continuous treatment of wastewater in various end-user industries is expected to drive market growth. Fortune Business Insights™ shares this information in its report titled “Activated Carbon Market, 2022-2030.”
COVID-19 Impact
Cessation on Various End-user Industries Affected Market Growth during the Pandemic
Recent outbreak of coronavirus resulted in reduction of productivity of global production activities. There has been alt on various end-user industries such as water treatment, air gas purification, food beverage, and others. Halt on industrial, commercial, and residential sectors affected the market growth.
Segments
Granular Segment to Lead the Segment Due to Application in Various End-user Industries
On the basis of type, the market is segmented into powdered, granular, and others. Granular Activated Carbon (GAC) is expected to be the fastest growing segment due to its high demand in various end-user industries such as air gas purification and water treatment. Growing demand for GAC is due to its easy reusability and regeneration which is expected to increase the market share of the segment.
Powdered Activated Carbon (PAC) is also anticipated to have a considerable growth due to its major application in water treatment.
Water Treatment Segment to Dominate Owing to its Ability to Adsorb Various Compounds
On the basis of application, the market is segmented into water treatment, air gas purification, food beverage, pharmaceutical healthcare treatment, and others. The water treatment segment will lead the market due to its ability to adsorb organic compounds, oils, toxic substances, and odor taste compounds. It is widely used owing to its high porosity. The food and beverage segment is also expected to have a considerable growth owing to increasing attention of consumers toward food safety and quality.
Regionally, the market is grouped into North America, Europe, Latin America, and the Middle East Africa.
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Browse Detailed Summary:
https://www.fortunebusinessinsights.com/activated-carbon-market-102175
