Market Dynamics The global market for activated charcoal demonstrated robust growth in 2021 and is projected to maintain a steady revenue compound annual growth rate (CAGR) throughout the forecast period. Activated carbon finds application in the treatment of oral poisonings, needing prompt usage typically within an hour of poisoning occurrence to maximize effectiveness. However, it is ineffective against certain substances such as cyanide, corrosive materials, iron, lithium, alcohol, or malathion when exposed to humans. Administration can be done through a nasogastric tube or orally, with additional uses including the interior of hemoperfusion equipment. Its primary functions include the absorption of soluble organic impurities and the removal of flavors and odor-altering substances. Market growth is expected to be driven by increasing pollution due to emissions from production processes and a shift towards more environmentally sustainable alternatives.
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One of the industrial applications of activated charcoal is in gas and air cleaning, involving reusable recovery processes. The escalating environmental concerns and sensitivity have led to stricter emission regulations, prompting several manufacturers to invest in advanced concepts and technologies for cleaning and air treatment applications. Additionally, there's a rising trend in the treatment of groundwater, potable water, and sewage using activated charcoal. Techniques such as Activated Carbon Injection (ACI) devices have significantly improved the purification process, making it more cost-effective, particularly in reducing mercury emissions from blast furnaces and power plants.
Major Factors Driving Revenue Growth of the Global Activated Charcoal Market:
- Increasing demand for safe and clean freshwater resources is propelling the need for activated charcoal, owing to its properties facilitating efficient pollutant removal, including oils, microbes, odor, and chemicals. For instance, Carbon Activated Corp. offers various industrial solutions such as municipal water supply filtration systems in the U.S. and VOC/siloxane removal systems in biogas engines across Europe.
- The exponentially growing population is leading to heightened demands for freshwater, thereby increasing the usage of purified water. Strict regulations on industrial wastewater treatment have further spurred the adoption of water purification units across various industries like paper and pulp, chemicals, paints, and dyes, consequently driving charcoal consumption for contaminant removal.
Factors Restraining Revenue Growth of the Global Activated Charcoal Market:
- Limited availability of raw materials such as coconut shell charcoal poses a potential constraint on industry growth, resulting in increased raw material prices. This is particularly notable for coconut shell charcoal, while coal-based products also experience price hikes due to increased energy demand.
- The high demand for coal in primary application areas like power generation, concrete, steel, and iron plants in China has led to shortages in sufficient coal grades for activated charcoal manufacturing. This scarcity, coupled with a declining trend in coconut demand, has prompted producers to increase production levels by 50% - 60%, consequently raising product prices.
Global Activated Charcoal Market Revenue Growth Driven by Type Segment:
- The global market is segmented into powdered, granulated, and palletized types. The Granulated Activated Carbon (GAC) segment dominated the market in 2021, primarily due to high demand from end-use sectors such as water, air, and gas purification. GAC's larger particle size makes it effective for removing pollutants from fluids, air, and gases. In the food and beverage industry, GAC is utilized to eliminate impurities such as odor and color from food additives, beverages, proteins, and organic acids, as well as in wastewater treatment to extract oil, pollutants, toxic metals, and agrochemicals.
Global Activated Charcoal Market Leading Application Segment:
- The water treatment segment accounted for the largest revenue share in 2021 and is expected to maintain its dominance throughout the forecast period. The frequent adsorption of chemical molecules, odor and taste compounds, toxic substances, and oils in water treatment processes drives the demand for activated charcoal. Growing global concerns about water pollution and decreasing natural resources have led to increased adoption of activated charcoal for water purification. Additionally, stringent regulations for cleaning industrial wastewater further bolster industry expansion.
Asia Pacific Region to Account for Largest Revenue Share in the Global Activated Charcoal Market:
- Asia Pacific held the largest revenue share in 2021, driven by countries like China and India where there is a significant demand for water purification processes due to population growth. The region benefits from the availability of raw materials at low costs, further contributing to market growth.
Global Activated Charcoal Market Regional Overview:
- North America is expected to register the highest revenue CAGR, driven by increasing demand for air and water purification applications, particularly in the U.S. Europe is witnessing a rise in demand due to stringent environmental regulations, leading to increased usage in domains like wastewater treatment, mercury extraction, and air purification. Latin America, especially Mexico, is projected to witness significant growth in the future, driven by increased usage in pharmaceutical sectors for deodorization and bleaching.
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