Friday, 7 February 2014
Activated Carbon Market Is Expected to Reach USD 4,180.5 Million by 2019: Transparency Market Research
Transparency Market Research has released a new market study titled "Activated Carbon Market (Powdered, Granular) for Liquid Phase and Gas Phase Applications in Water Treatment, Food & Beverage Processing, Pharmaceutical & Medical, Automotive and Air purification - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019," which observes that global market for activated carbon was valued at USD 1,913.2 million in 2012 and is expected to reach USD 4,180.5 million by 2019, growing at a CAGR of 11.9% from 2013 to 2019. In terms of volumes, activated carbon demand was 1,204.5 kilo tons in 2012 and is expected to grow at a CAGR of 10.2% from 2013 to 2019.
Browse the full report with complete TOC at http://www.transparencymarketresearch.com/activated-carbon-market.html
Increasing use to eliminate heavy metal residues from industrial waste coupled with growing concerns over environmental and the need to meet Mercury and Air Toxics Standard (MATS) issued by Environmental Protection Agency (EPA) aimed to reduce acid gas, mercury, and other metal emissions from oil and coal fired power plants is expected to drive activated carbon demand in the near future. Unreliable raw material availability with regards to coconut shell charcoal and metallurgical coal is expected to hamper the growth of the market. Reactivation of carbon is a key opportunity for manufacturers to reduce the operation cost of process as well as the carbon foot print.
Powdered activated carbon emerged as the largest product segment owing to its extensive use in mercury removal application and accounted for approximately 49% of the market in 2012. Gas phase is expected to be the fastest growing application for activated carbon at a CAGR of 13.0% from 2012 to 2018. Presently, liquid phase applications dominate the market and accounted for over 58% of the total volume consumed in 2012.
Water treatment was the largest end-use segment for activated carbon and accounted for over 40% of the consumption in 2012. The growing awareness of advantages of water treatment is expected to keep this segment largest over the forecast period. Air purification is expected to be the fastest growing market and is expected to grow at a CAGR of 13.9% from 2013 to 2019. Pharmaceutical and medical is also one of the key end-user industries. Increasing demand for activated carbon in this industry is primarily due to increased pharmaceutical output in North America and Asia Pacific.
Asia Pacific dominated the global activated carbon market and accounted for over 41% of the total revenue in 2012. Asia Pacific is also expected to be the fastest growing market for activated carbon, growing at a CAGR of 12.0% from 2013 to 2019. Japan, China, and India are the major activated carbon producing countries in Asia Pacific. The demand in North America and Europe is expected to grow at a CAGR of 12.2% and 7.6% from 2013 to 2019 respectively.
The global activated carbon demand was driven by strong demand from U.S. and Asia Pacific. Strict federal regulations for mercury removal at industrial plants including coal power plants are one of the key driving factors. However, tight raw material supply expected to limit the growth of activated carbon market. The reactivation of spent carbon helps manufacturers to reduce operating costs and environmental footprints hence it is expected to open the future market for activated carbon over the near future.
The report provides a detailed analysis and forecast of the activated carbon market on a global as well as regional level. The demand forecast is given for the period ranging from 2013 to 2019, based on volume (kilo tons) as well as revenue (USD million). The study consists of drivers, restraints and opportunities prevailing in activated carbon market and its implications during the forecast period.