According to a new report published by Polaris Market Research the Activated Carbon market is anticipated to reach over USD 13,385.6 million by 2026.
NEW YORK, NEW YORK, UNITED STATES, September 6, 2018 /EINPresswire.com/ — According to a new report published by Polaris Market Research the Activated Carbon market is anticipated to reach over USD 13,385.6 million by 2026. In 2017, the powdered activated carbon segment dominated the global market, in terms of revenue. Asia-Pacific is expected to be the leading contributor to the global market revenue during the forecast period.
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The increasing use of activated carbon in water purification applications, and initiatives and funding by governments primarily drive the growth of this market. Other driving factors include increasing industrialization, growing demand of activated carbon in mercury removal plants and increasing awareness regarding environmental protection. Introduction of stringent air pollution regulations, and growing concerns regarding water purification further promote the growth of activated carbon market. Emerging applications in medical and pharmaceutical sectors, and growing adoption of reactivated carbon are expected provide numerous growth opportunities during the forecast period.
Asia-Pacific generated the highest revenue in the market in 2017, and is expected to lead the global market throughout the forecast period. The growing industrialization, urbanization, and growing environmental concerns drive the market growth in the region. Government initiatives for environmental protection, and increasing need for air and water purification further increase the adoption of activated carbon in the region.
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The different types of activated carbon in the market include powdered activated carbon, granular activated carbon, and other activated carbon. In 2017, powdered activated carbon accounted for the highest market share. Powdered activated carbon dominated the market owing to its lower costs and high efficiency. Increasing concerns regarding water purification and recycling of waste water coupled with government initiatives and support are expected to support market growth. Powdered activated carbon is used in various applications in industries such as food and beverage, chemical, and petrochemical among others.
The well-known companies profiled in the report include Calgon Carbon Corporation, Oxbow Activated Carbon LLC, Donau Carbon GmbH, Osaka Gas Co., Ltd., Kureha Corporation, ADA-ES Inc., Siemens Water Technologies Corporation, MeadWestvaco Corp., Veolia Water SA, Cabot Norit Activated Carbon, Jacobi Carbons AB, and Carbon Resources LLC among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
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