Rising demand for water purification, increasing government subsidies and environmental standards, and rapid industrialization across the world.
PUNE, MAHARASHTRA, INDIA, November 26, 2020 /EINPresswire.com/ — Rising demand for water purification, increasing government subsidies and environmental standards, and rapid industrialization across the world drive the growth of the global activated carbon market. On the other hand, high price of raw materials impede the growth to some extent. However, new product launches that necessitate the use of activated carbon are projected to create multiple opportunities in the industry.
According to the report published by Allied Market Research, the global activated carbon market is expected to hit $5,129 million by 2022, registering a CAGR of 9.3% from 2016 to 2022. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends.
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• The outbreak of the pandemic led to reduced demand for activated carbon from several industry verticals for applications such as purification, medicine, filters and removal of pollutants, fuel storage, metal finishing, decaffeination, etc.
• However, several government bodies are now announcing relaxations on the existing restrictions, and the market is expected to recoup its position soon.
The global activated carbon market is analyzed across product type, end use, application, and geography. Based on product type, the powdered activated carbon segment held the largest share in 2015 and is projected to showcase a CAGR of 9.77% throughout the forecast period. By application, the liquid phase segment accounted for three-fifths share of the total market revenue in 2015 and is anticipated to lead the trail by the end of 2022. Simultaneously, the gaseous phase segment would grow at the fastest CAGR till 2022. Based on end-use, the water treatment segment would register the fastest CAGR of 8.86% till 2022.
By geography, North America generated the highest market share in 2015, garnering more than two-fifths of the global activated carbon market. Asia-Pacific, on the other hand, would portray the fastest CAGR from 2016 to 2022. The other two regions studied in the report include Europe and LAMEA.
The key market players analyzed in the global activated carbon market report include Jacobi Carbons AB, Calgon Carbon Corporation, Siemens Water Technologies Corp, ADA-ES Inc., Carbotech, Carbon Resources LLC, Clarinex Group, Carbon Activated Corporation, Cabot Corporation, and Kureha Corporation. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry.
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Source: EIN Presswire