DUBLIN–(BUSINESS WIRE)–The “Asia-Pacific Activated Carbon Market Forecast to 2028 – COVID-19 Impact and Regional Analysis By Type and Application” report has been added to ResearchAndMarkets.com’s offering.
Asia-Pacific activated carbon market is projected to reach US$ 4307.9 million by 2028 from US$ 2192.1 million in 2021; it is expected to grow at a CAGR of 10.1% from 2021 to 2028.
Activated carbon is an adsorptive material used majorly in water treatment, air & gas purification, and automotive applications. The material is highly versatile and can be customized as per specific application requirements by changing porosity and particle size.
Thus, the growing investments in the research and development activities in the activated carbon market to expand their application range are driving their demand in various industries in Asia-Pacific.
Based on application, the Asia-Pacific activated carbon market is segmented into water treatment, food and beverages, pharmaceuticals, automotive, and others.
The water treatment segment accounted for the largest market share in 2020, and the automotive segment is expected to register the highest CAGR in the market during the forecast period. Activated carbon has been in use as a water filtration material for many years.
Due to its high adsorption capacity resulting from its porosity and large surface area, it is widely used for the removal of contaminants in water. Water is a huge part of the manufacturing sector, and the water used in this sector gets contaminated and requires treatment before releasing back into the environment. Many countries have strict regulations regarding water treatment and release of contaminated water. Surging industrialization in the developing economies of Asia-Pacific has led to the proliferation of the activated carbon market in the region.
By country, the Asia-Pacific activated carbon market is segmented into Australia, China, India, Japan, South Korea, Indonesia, Malaysia, Thailand, the Philippines, Vietnam, and New Zealand.
In 2020, China held the largest share of the market in this region. China has reinforced its efforts to prevent and reduce mercury pollution through a number of guidelines, laws, and other measures. The Ministry of Environmental Protection of the People’s Republic of China (MEP) revised and developed standards, Best Available Technology (BAT) guidelines, and technical policies associated with the prevention of heavy metal pollution, specifically mercury emission. The increased regulations on mercury emissions in China is one of the prime factors contributing to the country’s dominance in the activated carbon market in Asia-Pacific.
Key Market Dynamics
Market Drivers
- Growing Demand for Wastewater Treatment
- Increasing Regulations on Mercury Emissions
Market Restraints
- Price Fluctuation of Raw Materials
Market Opportunities
- Activated Carbon Usage in Acoustic Applications
Future Trends
- Inexpensive Alternatives to Commercial Activated Carbon
Companies Mentioned
- Osaka Gas Chemical Co Ltd
- Kuraray Co., Ltd.
- Haycarb (Pvt) Ltd.
- Cabot Corporation
- Kureha Corporation
- Activated Carbon Technologies Pty Ltd
- Albemarle Corporation
- Cpl Activated Carbons
- Jacobi Carbons Group
- Calgon Carbon Corporation
- James Cumming And Sons Pty Ltd
For more information about this report visit https://www.researchandmarkets.com/r/qus15m
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