Activated Carbon Fiber Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The market is segmented by Raw Material (Natural and Synthetic), Application (Purification, Chemical Separation and Catalysis, Protective Clothing, Medical, Super Capacitors, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East & Africa). The report offers the market size and forecasts for the Activated Carbon Fiber Market in revenue (USD million) for all the above segments.

Activated Carbon Fiber Industry Overview

Activated Carbon Fiber Market Summary
Study Period: 2018 - 2028
Fastest Growing Market: North America
Largest Market: North America
CAGR: > 3 %

Major Players

Activated Carbon Fiber Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Activated Carbon Fiber Market Analysis

The Activated Carbon Fiber market is expected to reach USD 385.04 million by the end of this year and is projected to register a CAGR of over 3% during the forecast period.

During the COVID-19 pandemic in 2020, the market experienced a sharp decline in growth in output, sales, marketing, and distribution. The global shutdown has resulted in a series of market closures that have resulted in significant losses to many key industries. However, the market has recovered in the two years to post strong growth.

  • Increasing environmental concerns related to air and water pollution, coupled with activated carbon fiber’s superior properties in comparison to that of powdered activated carbons (PAC) and granular activated carbons (GAC), are expected to drive the demand for the market during the forecast period.
  • Concerns related to its raw materials, such as that synthetic fiber, which is non-degradable and tends to bind with molecules of harmful chemical pollutants in wastewater, such as flame retardants and pesticides, are likely to hinder the market’s growth.
  • Rising demand from the protective clothing industry is projected to act as an opportunity for the market in the future.
  • The North American region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period.

Activated Carbon Fiber Industry Segments

Activated carbon fiber is commonly produced from carbon fiber by the pyrolysis of carbonaceous materials, such as polyacrylonitrile (PAN), coal tar pitch and petrol pitch, rayon, and biomass, among others. It has applications in purification, chemical separation, catalysis, protective clothing, medical, and supercapacitors, among others. The Activated Carbon Fiber Market is segmented by Raw Material (Natural and Synthetic), Application (Purification, Chemical Separation and Catalysis, Protective Clothing, Medical, Super Capacitors, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East & Africa). The report also covers the market size and forecasts for the activated carbon fiber market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).

Raw Material
Natural
Synthetic
Pitch-based
Pan-based
Phenolic-based
Viscose-based
Other Materials
Application
Purification
Chemical Separation and Catalysis
Protective Clothing
Medical
Super Capacitors
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Mexico
Canada
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Activated Carbon Fiber Market Trends

This section covers the major market trends shaping the Activated Carbon Fiber Market according to our research experts:

Increasing Demand from the Purification Industry

  • One of the major applications of activated carbon fiber includes purification. Gas and water purification involve the major usage of activated carbon fibers owing to their properties.
  • High-purity gases are required in various industries and laboratories. The presence of impurities, such as moisture, hydrocarbons, oxygen, or sulfur compounds, can lead to interference or inefficient use of the gases. This creates a need for the purification of industrial gases.
  • Gas purification is required for automotive emission control, aircraft cabin air purification, emission and odor control, gas masks, and maintaining indoor air quality. Moreover, gas purification requirements are increasing in numerous industries, with the diversifying application of gases and growing concerns about air pollution.
  • According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), around 80.15 million vehicles were produced across the world last year, witnessing a growth rate of 3% compared to ~77.71 million vehicles in 2020, thereby enhancing the demand for activated carbon fibers for automotive emission control.
  • Water purification in India is expected to register a decent increase during the forecast period, owing to various government initiatives. The Council on Energy, Environment, and Water (CEEW), in association with the 2030 Water Resources Group, is planning to improve wastewater management in India, along with increasing private investments to build wastewater treatment plants.
  • All the aforementioned factors are expected to drive the global market during the forecast period.
Activated Carbon Fiber Market, Revenue CAGR(%), By Application, Global, 2022-2027

North America to Dominate the Market

  • North America is expected to dominate the activated carbon fiber market due to increasing demand from purification, chemicals, and the medical industry in countries such as the United States and Canada.
  • The United States is a major industrialized nation that houses multiple industries in heavy-scale, medium-scale, and small-scale categories. The country is known for its booming commercial activities. Moreover, the United States is one of the highest consumers of water in the world. Approximately 80% of the US water and wastewater treatment industry is owned and managed publicly.
  • However, the rural part of the country has significantly lower access to water treatment infrastructure and facilitates in comparison to the urban areas. Since 2003, the United States Department of Agriculture (USDA) has funded around USD 10 billion for the construction and maintenance of 7,500 rural water and wastewater systems and is planning to further increase its investment in the coming years. This growing investment in water treatment in the country is likely to boost the demand for activated carbon fiber.
  • According to the American Chemistry Council, the value of United States chemical shipments accounted for USD 768.9 billion last year, compared to USD 696 billion in 2020, thereby supporting the demand for activated carbon fiber-based filters from the chemical industry.
  • The increasing geriatric population and the growing requirement for medical facilities for the treatment of chronic diseases have been supporting the growth of the healthcare sector, as well as the consumption of activated carbon fibers for various applications in the country.
  • In the healthcare industry in Canada, the medical device sector is a highly diversified and export-oriented industry that manufactures equipment and supplies. The sector is driven by product innovation. The industry can draw on world-class innovative research being conducted in Canadian universities, research institutes, and hospitals, some of which have been spun off into Canadian medical device companies.
  • Thus, rising demands from the above-mentioned factors are expected to drive growth in the North American region.
Activated Carbon Fiber Market - Growth Rate by Region, 2022-2027

Activated Carbon Fiber Market Competitor Analysis

The activated carbon fiber market is fragmented in nature. Key players in the activated carbon fiber market include (not in any particular order) Osaka Gas Chemicals Co. Ltd, Kuraray Co. Ltd, Unitika Ltd, Anshan Sinocarb Carbon Fibers Co. Ltd, Kuraray Co. Ltd, and Toyobo Co. Ltd.

Activated Carbon Fiber Market Top Players

  1. Osaka Gas Chemicals Co. Ltd

  2. Kuraray Co. Ltd

  3. Unitika Ltd

  4. Anshan Sinocarb Carbon Fibers Co. Ltd

  5. Toyobo Co. Ltd

*Disclaimer: Major Players sorted in no particular order

Activated Carbon Fiber Market Concentration

Activated Carbon Fiber Market Recent Developments

In March 2022, Toyobo Co. Ltd and Mitsubishi Corporation signed an agreement to establish a new joint venture company (Toyobo Co. Ltd, 51%, and Mitsubishi Corporation, 49%) for the planning, development, manufacturing, and sales of functional materials, which is expected to commence operations in January 2023. The new JV will deal in operations related to photo functional materials, fine chemicals, engineering plastics, water treatment membranes, environment solution devices, activated carbon products, activated carbon filters, spun-bond nonwoven fabrics, lifestyle materials, and high-performance fibers.

Activated Carbon Fiber Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Environmental Concerns Related to Air and Water Pollution

      2. 4.1.2 Superior Properties of Activated Carbon Fiber

    2. 4.2 Restraints

      1. 4.2.1 Concerns Related to Raw Materials

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size in Value)

    1. 5.1 Raw Material

      1. 5.1.1 Natural

      2. 5.1.2 Synthetic

        1. 5.1.2.1 Pitch-based

        2. 5.1.2.2 Pan-based

        3. 5.1.2.3 Phenolic-based

        4. 5.1.2.4 Viscose-based

        5. 5.1.2.5 Other Materials

    2. 5.2 Application

      1. 5.2.1 Purification

      2. 5.2.2 Chemical Separation and Catalysis

      3. 5.2.3 Protective Clothing

      4. 5.2.4 Medical

      5. 5.2.5 Super Capacitors

      6. 5.2.6 Other Applications

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Mexico

        3. 5.3.2.3 Canada

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 France

        4. 5.3.3.4 Italy

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 Middle East & Africa

        1. 5.3.4.1 Saudi Arabia

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share(%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Anshan Sinocarb Carbon Fibers Co. Ltd

      2. 6.4.2 China Beihai Fiberglass Co. Ltd

      3. 6.4.3 Evertech Envisafe Ecology Co. Ltd

      4. 6.4.4 Hangzhou Nature Technology Co. Ltd (Nature Carbon)

      5. 6.4.5 HPMS Graphite

      6. 6.4.6 Jiangsu Tongkang Activated Carbon Fiber Co. Ltd

      7. 6.4.7 Kuraray Co. Ltd

      8. 6.4.8 Nantong Yongtong Environmental Technology Co. Ltd

      9. 6.4.9 Osaka Gas Chemicals Co. Ltd

      10. 6.4.10 Toyobo Co. Ltd

      11. 6.4.11 Unitika LTD

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Increasing Application in Protective Clothing

**Subject to Availability
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Activated Carbon Fiber Market Research FAQs

The Activated Carbon Fiber Market is studied from 2018 - 2028.

The Activated Carbon Fiber Market is growing at a CAGR of >3% over the next 5 years.

North America is growing at the highest CAGR over 2018 - 2028.

North America holds highest share in 2021.

Osaka Gas Chemicals Co. Ltd, Kuraray Co. Ltd, Unitika Ltd, Anshan Sinocarb Carbon Fibers Co. Ltd, Toyobo Co. Ltd are the major companies operating in Activated Carbon Fiber Market.

Activated Carbon Fiber Industry Reports

In-depth industry statistics and market share insights of the Activated Carbon Fiber sector for 2020, 2021, and 2022. The Activated Carbon Fiber research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Activated Carbon Fiber report PDF.

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