ALBANY, N.Y., Nov. 4, 2020
- The increasing prevalence of water-borne diseases around the world may bring immense growth prospects for the activated carbon market during 2020-2030
- Based on the growth prospects and the overall analysis of the scenario across 2020-2030, the global activated carbon market may expand at a CAGR of ~8 percent
ALBANY, N.Y., Nov. 4, 2020 /PRNewswire/ -- The escalating demand for water filtration and air purification may serve as a significant growth factor for the global activated carbon market during the assessment period of 2020-2030. As many countries across the globe expand their industrial prospects, the environmental hazards due to consistent air pollution are increasing at a rapid pace. Thus, to control the mercury levels, industries are using activated carbon on a large scale. Hence, this factor may bring good growth opportunities.
Activated carbon is a type of carbon. It has minute, less-volume pores. The greater the number of pores, the higher the adsorption capacity of activated carbon. It is prominently derived from carbonaceous raw material. It is extensively used to eliminate organic and non-biodegradable compounds.
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After a thorough and scrutinized analysis of all the factors related to growth, the Transparency Market Research (TMR) researchers expect the activated carbon market to expand at a healthy CAGR of ~8 percent during the assessment period of 2020-2030. The global activated carbon market is prognosticated to reach a valuation of US$ 7.3 bn by the end of the forecast period.
Strict rules and acts imposed by the government bodies of various countries have magnified the demand for air filtration and water filtration. The overwhelming applicability of activated carbon in pharmaceuticals, personal care, water and wastewater treatment, mining, industrial chemicals, air purification, food and beverages, and others may help in increasing the growth rate of the activated carbon market.
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Activated Carbon Market: Analysts Perspective
The analysts at Transparency Market Research (TMR) link the growth of the activated carbon market to factors like heightening focus on wastewater treatment of local bodies across various cities, utilization for ubiquitous applications, and the overwhelming demand for carbon filter masks amidst the COVID-19 pandemic. The analysts advise manufacturers in the activated carbon market to focus on the healthcare sector for increasing their revenue.
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Activated Carbon Market: Vital Findings
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Activated Carbon Market: Growth Propellers
Activated Carbon Market: Growth Dampeners
The frequent trade conflicts across the globe have created a strain on the business landscape. This is leading to constant increase in the prices of raw materials. Thus, this aspect may prove as a growth restraint for the activated carbon market during the forecast period. The utilization of activated carbon in food products may lead to decreased vitamin absorption and gastrointestinal side effects. This aspect may dampen the growth prospects of the activated carbon market to a certain extent.
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