Asia-Pacific Activated Carbon Market - Segmented by Product Type, Application and Geography - Growth, Trends and Forecast (2018 - 2023)
The Asia-Pacific activated carbon market was valued at USD 1,214.08 million in 2017, and is projected to record a CAGR of approximately 7% by 2023. China is projected to continue dominating the market during the forecast period (2018 - 2023), followed by Japan and South Korea. Increasing government regulations and concerns related to environment pollution are driving the demand for activated carbon in the region.
Increasing Environmental Concerns Driving the Market
In Asia-Pacific, mercury emissions are increasing, primarily, owing to rising power generation in developing nations, such as China and India. Coal is the major source of electricity in these countries, which, in turn, is boosting the demand for activated carbon to curb the mercury emissions. Besides this, the rising environmental regulations, due to increasing emissions from automotive industries and rising industrial need for water treatment, the demand for activated carbon has been increasing in the region.
Powered Activated Carbon serves as a Major Product Type
Among various product types, powered activated carbon is the most widely used form, which accounts for nearly 50% of the total activated carbon usage. A majority of powdered activated carbon is used for water treatment applications. The demand for activated carbon is also increasing from the petrochemical industry to substitute conventional treatment techniques, such as activated sludge, which is usually affected by the presence of recalcitrant organic compounds in the process. Furthermore, activated carbon also finds application in air purification, chemical purification & catalysts, food and beverages, pharmaceuticals, and energy storage.
China to Dominate the Market
China is projected to continue dominating the activated carbon market during the forecast period. The country is also likely to witness the highest growth during this period, owing to favorable government regulations toward curbing environmental pollution. In 2012, China announced RMB 3.7 trillion for pollution control and half of this amount was allotted for treating water pollution. The country had also published the Water Pollution Prevention and Control Action Plan in 2015. Moreover, the country has also come up with the final rule of Stage 6 Limits and Measurement Methods for Emissions from Lightduty Vehicles1, which will be effective from July 2020. Hence, all such initiatives of the government to curb pollution are projected to drive the demand for activated carbon in the country during the forecast period.
Key Developments in the Market
September 2017: Kuraray had signed a definitive merger agreement to acquire Calgon Carbon for an equity value of USD 1.1 billion.
October 2017: CPL Carbon Link had acquired GalaQuim Protección Medioambiente
Major Players: Calgon Carbon Corporation, Cabot Corporation, Ingevity, Osaka Gas Chemicals Co. Ltd, and Kuraray Co. Ltd, amongst others.
Reasons to Purchase the Report
To understand the favorable impact of environmental regulations on the Asia-Pacific activated carbon market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating end-user application in the Asia-Pacific activated carbon market
Regions and countries expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in excel)
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