The Activated Carbon Market will gain value of US$ 7.93 billion by 2031, states TMR Study
WILMINGTON DE / ACCESSWIRE/January 19, 2023 / Transparency Market Research Inc. The global activated carbon market According to Transparency Market Research (TMR), the market for activated carbon is expected to reach US$ 7.93 Bn in 2031. The market for activated Carbon is projected to grow at an 8.1% CAGR over the forecast period 2022-2031, according to the research report by Transparency Market Research (TMR).
In order to keep up with the competition, companies operating in the activated carbon market worldwide use diverse strategies like mergers and acquisitions as well as product portfolio expansions. This aside, players are increasing their R&D activities so as to improve the quality of the products they provide. These initiatives will result in a rapid expansion of global activated carbon markets during the forecast period.
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The Asia Pacific activated carbon market is expected to see notable growth due to increased product use in the region’s food and beverage, automotive, and healthcare markets. Moreover, the region’s growing water consumption and the increased implementation of regulations by regional governments to prevent water pollution are making it a promising market for activated carbon in Asia Pacific.
Market for Activated carbon: Key Findings
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Air pollution has increased due to an increase in coal-fired power stations and industrialization in major developed and emerging nations. According to statistics from the World Health Organization, air pollution is responsible for approximately 4.2 millions deaths each year. A further 91% live in places where the quality of the air is poor for their health. In recent years, there has been an increase in demand for air purification. Air treatment and filtration are done using activated carbon. Hence, the market for activated charcoal is forecast to expand due to growing concerns regarding air quality.
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Undissolved and dissolved substances, persistent organic compounds, salts, metals, and plant nutrients are all part of municipal and industrial wastewater. A TMR study was done on activated carbon markets. This is why sewage treatment works. It removes impurities and restores water’s natural quality. Pre-treatment of contaminations can be done using other processes such as sedimentation, flocculation, or biological treatment. Activated carbon is generally used in the final processing step to remove the most important impurities, including pharmaceutical micro-pollutants.
Activated carbon market: Growth boosters
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Activated carbon market growth will be driven by increased product usage in wastewater and water treatment activities.
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Activated carbon market is expected to see significant growth due to rising product demand for air purification.
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Activated carbon market: Key players
The report profiles some of the most important players:
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KURARAY CO., LTD
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Cabot Corporation
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HAYCARB LTD (PVT)
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Osaka Gas Chemicals Co., Ltd.
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Evoqua Water Technologies Corp.
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KUREHA CORPORATION
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Donau Chemie AG
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Clarimex Group
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General Carbon Corporation
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Carbon Activated Corporation
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Indo German Carbon Limited (IGCL)
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ACURO ORGANICS LIMITED
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CarboTech
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TIGG LLC
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Javaindo Purestar Carbon
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TMK Carbon Sdn Bhd.
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Segmentation of Activated carbon Market
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Raw Material
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Form
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Powdered
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Granular/Crushed
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Extruded/Pelletized
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Others (Spherical, etc.)
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End-use
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Water and Wastewater Treatment
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Air Purification
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Food & Beverages
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Industrial Chemicals
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Pharmaceuticals
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Mining
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Automotive
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Others (Personal Care and etc.
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Region
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North America
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Latin America
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Europe
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Asia Pacific
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Middle East & Africa
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Accesswire.com provides a source version of the article:
https://www.accesswire.com/735894/Activated-Carbon-Market-to-Gain-Value-of-US-793-Bn-by-2031-States-TMR-Study