Market Size of Activated Carbon Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 4.32 Billion |
| Market Size (2029) | USD 5.77 Billion |
| CAGR (2024 - 2029) | 5.95 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Activated Carbon Market Analysis
The Activated Carbon Market size is estimated at USD 4.32 billion in 2024, and is expected to reach USD 5.77 billion by 2029, growing at a CAGR of 5.95% during the forecast period (2024-2029).
The market was negatively impacted by the COVID-19 pandemic as the demand was reduced, considering the temporary halt of activities in various end-user industries, such as metal extraction and others. However, since the end of the pandemic, the demand for the market studied has picked up the pace and is likely to grow at a significant rate in the coming years.
- In the medium term, major factors driving the market are conformance to stringent environmental regulations in water treatment applications in the United States and the increasing prominence of air pollution control (especially mercury removal).
- Narrower markets, due to the increased costs of some grades of activated carbon, the threat of substitutes like silica gel, and the development of better alternatives, are expected to hinder the growth of the market.
- Emerging applications in the medical and pharmaceutical sectors is likely to act as an opportunity for the market.
- Asia-Pacific accounted for the highest market share, and the region is likely to dominate the market during the forecast period.
