Activated Carbon for Mercury Control Market in Flue Gas
Activated Carbon for Mercury Control Market in Flue Gas: Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2023-2028 See less
Activated Carbon for Mercury Control Market in Flue Gas: Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2023-2028
Activated Carbon for Mercury Control Market in Flue Gas Is Segmented by Application (Coal Burning, Gold Mining, Cement Production, Ferrous & Non-Ferrous Metals, Oil & Gas Burning, Oil Refining, and Others), and by Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Russia, and Rest of Europe], Asia-Pacific [China, Japan, South Korea, India, and Rest of Asia-Pacific], and Rest of the World [Brazil, Saudi Arabia, and Others]).
Activated carbon is a major source of curbing pollution being released in the form of flue gas from coal-based applications. Coal-based power plants remain one of the major sources of flue gas globally, along with emissions from coal-fired generators, cement kilns, industrial boilers, natural gas burning, waste incinerators, and steel mills. These emissions pose serious environmental concerns due to the toxicity and persistence of mercury, which creates air pollution and accumulates in waterways. In response to these concerns, the government is imposing various stringent regulations for pollution control across the world, which is expected to be the key growth driver for the activated carbon for mercury control market during the forecast period.
Due to the COVID-19 outbreak, the activated carbon for mercury control end-use industries faced issues such as delays in receiving raw materials, especially from China. Also, the shipments' orders were heavily affected due to the non-availability of vessels, blank sailing, and import restrictions. The global pandemic of Coronavirus 2019 (Covid-19) not only caused infections and deaths but also wreaked havoc on the global economy. The slowdown in the mining sector, along with shut-down production, brought additional future capital costs for re-opening mine sites. This had a negative impact on the overall market. Activated carbon for mercury control in the flue gas market could not escape these challenges and witnessed a decline in 2020. This compelled all major industry players to realign their strategies in order to maintain liquidity to face current market challenges and meet future demand.
The industry registered a steep recovery from 2022 onward. The market for activated carbon for mercury control in flue gas is likely to grow at a healthy 16.25% CAGR over the next five years to reach an estimated value of US$ 14.2 billion in 2028.
List of Sub-Segments
Dominant and Fastest-Growing Segments
Coal Burning, Gold Mining, Cement Production, Ferrous & Non-Ferrous Metals, Oil & Gas Burning, Oil Refining, and Others
Gold mining is anticipated to dominate the market for activated carbon for mercury control in flue gas.
North America, Europe, Asia-Pacific, and The Rest of the World
Asia Pacific is expected to dominate the activated carbon for mercury control market in flue gas, owing to the increasing demand for well-activated carbon for mercury control from the flourishing mine industries in the region.
The activated carbon for mercury control market is segmented into coal burning, gold mining, cement production, ferrous & non-ferrous metals, oil & gas burning, oil refining, and others. The gold mining segment is expected to remain the largest and dominate the market during the forecast period as gold mining operations often involve the use of mercury in the extraction process, especially in small-scale or artisanal mining. Mercury is used to separate gold from ore, but it poses significant environmental and health risks. Activated carbon is commonly employed to capture and remove mercury from mining wastewater or emissions. As gold mining continues to be a significant industry globally, the demand for activated carbon for mercury control in this segment remains high. Growth in the economies is further expected to drive market growth during the forecast period.
Asia-Pacific is expected to remain the largest market for activated carbon for mercury control in flue gas during the forecast period. Countries like China, India, Japan, and South Korea have witnessed rapid industrialization, leading to increased coal-fired power generation and industrial emissions. These emissions contain mercury, making the region a major market for activated carbon for mercury control in flue gas.
The activated carbon for mercury control market in the flue gas market is segmented into the following categories:
By Application Type
The market is highly populated, with the presence of several local, regional, and global players. Most of the major players compete on some of the governing factors, including price, product offerings, regional presence, etc. The following are the key players in the activated carbon for mercury control market in flue gas market:
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s activated carbon for mercury control market in flue gas realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
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More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
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The activated carbon for mercury control market in flue gas is estimated to grow at a CAGR of 16.25% by 2028, driven by increasing coal and oil & gas production, where mercury emissions from coal- and oil and gas boilers are a serious environmental concern due to the toxicity and persistence of mercury that creates air pollution and accumulates in waterways, due to which the coal and oil & gas industries are extensively using activated carbon for mercury control.
Advanced Emissions Solutions, Inc., American Resources Corporation, Alstom SA, Carbotech GmbH, Evoqua Water Technologies, and Haycarb Plc. are the leading players in the activated carbon for mercury control market in flue gas.
Asia Pacific is estimated to remain dominant in the activated carbon for mercury control market in the flue gas market in the foreseeable future. Asia Pacific is the largest consumer of coal globally, with many countries relying heavily on coal for electricity generation. Coal combustion releases mercury into the atmosphere, and to comply with environmental regulations, power plants, and industries require effective mercury control technologies such as activated carbon. The high coal consumption in the region drives the demand for activated carbon for mercury control.
Asia-Pacific is estimated to remain the fastest-growing market for activated carbon for mercury control market in flue gas market in the foreseeable future as governments in the Asia-Pacific region have implemented stringent environmental regulations to combat air pollution and protect public health. These regulations often include limits on mercury emissions from industrial sources. To meet these regulations, industries must invest in technologies like activated carbon injection systems, which use activated carbon to adsorb and remove mercury from flue gas.
The gold mining segment of the activated carbon for mercury control market is expected to remain the largest and dominate the market as environmental regulations and concerns have led to stricter regulations on mercury emissions from gold mining operations. Many countries have implemented laws and standards to control and minimize mercury pollution. Compliance with these regulations often requires the use of activated carbon for effective mercury control. Therefore, the gold mining industry is compelled to invest in activated carbon technologies to meet the regulatory requirements, further driving market dominance in this segment.
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