Activated Carbon Market Report

Market Analysis

• The activated carbon market size was valued at USD 4.8 billion in 2024. The market is expected to reach USD 5.2 billion in 2025, up 8.40% than the value in 2024.
• During the forecast period of 2025-2032, the activated carbon market is expected to grow at a CAGR of 8.20% to reach USD 8.8 billion in 2032.
• During 2025-2032, the activated carbon industry is expected to generate a cumulative sales opportunity of USD 55.8 billion.

Activated Carbon Market Statistics

Have a look at the sales opportunities presented by the activated carbon market in terms of growth, market forecast and segment opportunities.

Market Dynamics

Introduction:

What is Activated Carbon?

Activated carbon is a highly porous form of carbon processed to have a large surface area, making it highly effective for adsorption. It is widely used in air and water purification, chemical processing, and medical applications for removing contaminants, toxins, and impurities at the molecular level.

Market Drivers:

Increasing Automotive Sales Leading to the Need to Control Vehicular Emissions

The sustained growth in global automotive sales is a key driver for the activated carbon market, particularly in emission control applications. Different sources suggest that approximately 88 million units of LCVs were sold in 2024, reflecting a more than 2.5% year-over-year increase globally. This expansion, combined with increasingly stringent emission standards, is accelerating the adoption of activated carbon in vehicle systems for fuel vapor recovery, volatile organic compound (VOC) adsorption, and cabin air purification.

The integration of activated carbon technologies is essential for meeting regulatory compliance, improving environmental performance, and supporting sustainable vehicle design, thereby positioning the automotive sector as a critical catalyst for the market growth of activated carbon.

Market Challenges:

High Operational Costs and Limited Availability in Prime Locations

In spite of the demand rise, there are challenges for activated carbon brought about by high operational expenditures, especially in top city locations. Commercial space leases in top cities such as New York, London, and Tokyo may constitute as much as 30% of a coworking space operator's expenditure. Moreover, the scarcity of high-grade office space in such top locations increases expenditure, making expansion difficult for coworking operators. In other markets, zoning regulations and building codes create regulatory barriers to the growth of coworking facilities, driving them out of sought-after locations.

Market Opportunities:

Cost-Effective and Sustainable Shift Toward Reactivated Carbon

The rising production costs of activated carbon have led manufacturers to shift focus toward reactivated carbon, which is more cost-effective and environmentally sustainable. Reactivated carbon, widely adopted in municipal water treatment, especially in Europe, offers up to 50% cost savings. Its recyclability and reduced environmental impact present a significant opportunity for market players to enhance profitability and operational efficiency.

Market Segments' Analysis

“Powdered Activated Carbon segment is anticipated to experience more growth in the future.”

• The market for powdered activated carbon is expected to grow during the forecast period due in part to the rising demand from a variety of end-use sectors, such as the food and beverage, automotive, pharmaceutical, and medical industries.
• Powdered activated carbon (PAC) is a finely ground black powder produced from carbon-rich sources like wood, coal, coconut shells, or similar carbonaceous materials.

By Application Type

“Gas Phase segment is anticipated to hold the highest CAGR during the forecast period.”

• The segment of the gas phase is expected to grow immensely between 2025 and 2032.
• In gas-phase purification, activated carbon is widely used to clean air and other gases. Because of its high porosity, it can adsorb a wide range of organic and inorganic substances, making it an excellent gas filter material.
• It is essential for controlling emissions from industrial and automotive processes.

Regional Analysis

“The Asia Pacific is estimated to be the largest market during the forecast period.”

• Asia Pacific activated carbon market is anticipated to witness the highest CAGR during 2025-2032.
• The water treatment industries in this area are the main drivers of the demand for activated carbon.
• The demand for purified air and water is rising due to factors like population growth, rising living standards, and increased awareness of environmental pollution.

Key Players

Most of the major players compete in some of the factors, including price, service offerings, regional presence, etc. The following are the key players in the activated carbon market -  

• Kuraray Co., Ltd. (Japan)
• Osaka Gas Chemicals Co., Ltd. (Japan) 
• Haycarb PLC (Sri Lanka) 
• Norit (Netherlands)
• Kureha Corporation (Japan) 
• BASF SE (Germany) 
• Albemarle Corporation (USA) 
• Ingevity Corporation (USA) 
• Iluka Resources Limited (Australia) 
• Tronox Holdings Plc (USA)

Note: The above list does not necessarily include all the top players in the market.

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Recent Developments/Mergers & Acquisitions:

• Regus expanded its offerings in 2024 by launching a new membership plan that combines office space access with virtual office services, which is expected to capture approximately 12% of the market share in the coming years.
• UCOMMUNE rolled out a series of AI-powered office solutions in 2024 that allow users to book workspaces and track usage remotely, making up about 10% of their market growth. 

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept so that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market, covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The global activated carbon market is segmented into the following categories. 

Global Activated Carbon Market, by Type

• Powdered Activated Carbon
• Granular Activated Carbon

Global Activated Carbon Market, by Application Type

• Liquid Phase Application
• Gas Phase Application

Global Activated Carbon Market, by Raw Material Type

• Coal
• Coconut
• Wood
• Peat

Global Activated Carbon Market, by Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, Italy, The UK, and Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s global activated carbon market realities and future market possibilities for the forecast period.

• The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants and investors in identifying the low-hanging fruits available in the market and formulating growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• 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 4.8 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respected clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances

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