PUNE, India, January 25, 2017 /PRNewswire/ --
The global activated carbon market is projected to reach USD 8.12 billion by 2021 at a CAGR of 9.4% while in terms of volume the overall market is projected to grow at a CAGR of 8.4% and reach 3,857.9 KT by 2021 led by powdered activated carbon.
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The growing use of activated carbon in industrial applications has led to an increase in its share in the gaseous phase applications, which is expected to drive the activated carbon market in the Asia-Pacific region. Moreover, the growing use of activated carbon for soil remediation applications, as well as in pharmaceutical applications have witnessed high growth during the last five years, and is further expected to boost the growth of the activated carbon market. However, the scarcity of raw material, especially in the Asia-Pacific region is a major factor restraining the growth of the activated carbon market globally.
Powdered activated carbon was the fastest-growing segment in the activated carbon market in 2015. Demand for powdered activated carbon in industrial applications such as the pharmaceutical industry for decolonization and deodorization operations is expected to drive demand during the forecast period. Industrial growth in emerging clusters across the globe such as, the ASEAN countries, North African Countries, and Central & Eastern European countries is expected to drive the demand for activated carbon.
The gaseous phase application is the fastest growing application segment in the global activated carbon market. The use of activated carbon for air purification applications, removal of mercury, hydrogen sulfide, and chlorine is expected to drive the global activated carbon market. Moreover, the growing use of hybrid and electronic cars is also expected to drive the demand in the automotive application of the market.
The report also provides company profiles and competitive strategies adopted by the major market players such as, Calgon Carbon Corporation (U.S), Osaka Gas Co. Ltd (Japan), Cabot Corporation (U.S), Haycarb PLC (Sri Lanka), Kuraray Chemical Co. Ltd (Japan), KUREHA CORPORATION (Japan), Donau Carbon GmbH (Germany), Silcarbon Akilotonivkohle GmbH (Germany), and Oxbow Activated Carbon LLC (U.S), among others. Order a copy of Activated Carbon Market by Type (Powdered, Granular, Others (Pelletized, Bead)), Application (Liquid Phase (Water Treatment, Foods & Beverages, Pharmaceutical & Medical), Gaseous Phase (Industrial, Automotive)), Region - Global Forecast to 2021 research report at http://www.reportsnreports.com/purchase.aspx?name=825121.
The Asia-Pacific region is the fastest-growing market for activated carbon, in terms of value and volume. Increasing investments by companies, especially in the automotive sector, the growing shift of production facilities to the emerging economies of the region; the strong industrial base, are the major factors contributing to the growth of the activated carbon market in this region.
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