Granular Activated Carbon Market Size, Share, Growth and Industry Analysis by Type (Coal Based, Wood Based, Coconut Shell Based, And, Others) By Application (Water Treatment, Industrial Processes, Food & Beverage, Pharma, And, Others) Regional Forecast By 2031

Granular Activated Carbon Market Report Overview

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The global granular activated carbon market size is anticipated to be worth USD 1575.48 million in 2021 & the market is projected to touch USD 2957.39 million by 2031 with a CAGR of 6.5% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over

Granular activated carbon is a highly porous material that is incorporated in several industries mainly for absorption process. It has a unique structure with small granular particles. The surface area of this substance is very large and hence it allows the quick and easy removal of contaminants from both liquids as well as gases.

Integration of technologies like automation and analytics. This is considered as the latest trend in the market. GAC is used for both municipal as well as industrial application. Rising awareness regarding the dangerous side effects of volatile organic compounds will increase the scope of the market.  All of these can be considered as the factors driving the granular activated carbon market share.

COVID-19 impact: Reduction in Water Treatment Services During Pandemic Decreased Market Growth

COVID-19 was one of the biggest pandemics that affected the man-kind. All the industries had to face similar problems which included disruption in supply chain, fluctuations in the price of raw materials, unavailability of skilled workforce, and change in consumer preference. The same problems were faced by the granular activated carbon market as well.

Some of the major customers include water treatment industries, air purification sectors, and odor control service providers. However, due to the unfavorable market conditions that were created during the pandemic demand for all the above-mentioned sectors reduced bringing down the market growth.

LATEST TRENDS

"High Demand for Renewable and biodegradable GAC Products to Fuel Market Growth"

An important trend that is being witnessed in the market recently is the high demand for GAC products that are biodegradable and renewable. Such GAC products are considered to be a very eco-friendlier option for manufacturers who aim to reduce the carbon footprints.

Granular activated carbon products are made up of natural materials such as wood waste, and coconut shells. This is not only sustainable but also highly cost-efficient. Along with this advanced manufacturing techniques have been introduced in the market which is prone to improve the efficiency of GAC materials. Integration of technologies like automation and analytics has made monitoring GAC much easier. All of these are considered as the latest trend in the market.

Granular Activated Carbon Market Segmentation

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• By Type:

The market can be divided on the basis of type into the following segments:

Coal based, wood based, coconut shell based, and, others. The coal-based segment is anticipated to dominate the market during the forecast period.

• By Application:

Classification based on application into the following segment:

Water treatment, industrial processes, food & beverage, pharma, and, others. The water treatment segment is predicted to dominate the market during the research period.

DRIVING FACTORS

"Growing Rate of Air and Water Pollution to Accelerate Market Growth"

Industrialization, and urbanization has caused severe damage to the environment. Usage of non-renewable sources of energies as fuel has increased air pollution. Discharge of industrial waste into water bodies is causing water pollution. Increasing prevalence of air and water pollution has created many growth opportunities for the market.

Granular activated carbon is one of the most widely substance in water purification and water treatment. They are also used for air purification and odor control. Government authorities have imposed numerous stringent rules and regulations regarding maintain proper air and water quality. In order to abide by these regulations, a lot factories are adopting GAC. Granular activated carbon is used for both municipal as well as industrial application. All of these factors are accelerating the market growth and development. 

"Increasing Cases of Water-borne Diseases to Propel Market Growth "

Water pollution is a major source for several deadly infectious diseases. Increasing prevalence of water contamination has increased the cases of water-borne diseases. This has given rise to an increased demand for activate carbon as it has the property of quickly removing the impurities. They provide effective treatment for water which lasts for a long period of time.

Many developing economies are witnessing a very quick expansion in their industrial sectors. Some of the fast-developing industries that have incorporated GAC include food, and, beverages, pharmaceutical, and chemical. Growing awareness regarding the dangerous side effects of volatile organic compounds will stimulate demand for GAC-based odor control systems. All of these factors will enable a rapid development of granular activated carbon market growth. 

RESTRAINING FACTOR

"Expensiveness of Installing GAC Systems to Decrease Market Growth"

While the granular activate carbon market exhibits great growth potential there are certain factors that can hamper the growth and development of the market. Both the installation as well as production of GAC-based products is very expensive and hence cannot be afforded by small industries in a price sensitive market. This can deter many potential buyers especially in developing economies. Availability and sourcing of raw materials for the market is yet another challenge that can have a negative impact on the market share.

Raw materials such as wood waste and coconut shells are not readily available for use. This can lead to a major disruption in supply chain posing many problems to the manufacturers. Many alternative air purification and water purification techniques have emerged in the market. If there are cheaper and effective alternatives consumers prefer to choose them over GAC. These factors can deteriorate market development.

Granular Activated Carbon Market Regional Insights

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"Asia Pacific to Dominate Market Share in Upcoming Years"

Asia Pacific is one of the fastest developing regions in the market. This region dominates the market due to many factors that have favored its growth. APAC is subject to rapid urbanization and faster population development. Asia Pacific has two of the most populated countries which include India and China.

Infections, contaminations, and water-borne diseases are always a problem in high populated regions. In order to prevent such happenings, there is a need to adopt effective water and air quality management techniques. Usage of granular activated carbon is considered as one of the most effective and cost-effective solution. These factors have propelled market growth in Asia Pacific.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

LIST OF TOP GRANULAR ACTIVATED CARBON COMPANIES

• Haycarb PLC (Sri Lanka)
• Silcarbon Aktivkohle (Germany)
• Sorbent (U.S.)
• KURARAY (Japan)
• Euroquarz GmbH (Germany)
• Jinding Activated Carbon (China)
• Fujian Yuanli Active Carbon Co.,Ltd. (China)
• Carbo tech (Germany)
• Donau Chemie Group (Austria)
• HUAHUI ENVIRONMENTAL TECHNOLOGY CO., LTD. (China)
• Norit (Netherlands)
• Jacobi Carbons (OSAKA GAS) (Sweden)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations.