Honeycomb Activated Carbon Market Size, Share, Growth, and Industry Analysis by Type (Water-resistant Honeycomb Activated Carbon & Ordinary Honeycomb Activated Carbon), By Application (Factory Organic Waste Gas Treatment, Daily Waste Gas Treatment, Air Purification, Organic Solvent Adsorption & Recovery & Others), Regional Insights, and Forecast From 2023 To 2030

Updated On: 20 November 2023

honeycomb activated carbon market REPORT OVERVIEW

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The global honeycomb activated carbon market size was USD 95 million in 2022. As per our research, the market is expected to reach USD 196 million in 2028, exhibiting a CAGR of 12.9% during the forecast period.

The activated carbon industry refers to the global market for honeycomb carbon products, which includes both the manufacturing and sale of honeycomb activated carbon. It is a type of activated carbon that is shaped like a honeycomb or hexagonal lattice structure. It is made by compressing activated carbon into a honeycomb shape, typically using a binder material to hold the particles together. Activated carbon is a highly porous material with a large surface area, which makes it effective at adsorbing impurities from gases and liquids.

The honeycomb structure of honeycomb carbon allows for a larger surface area compared to other activated carbon shapes, which enhances its adsorption capabilities. It is commonly used in industrial applications, such as air and water purification, due to its high adsorption capacity and efficiency. It is also used in automotive emissions control systems, as well as in the production of food and beverages, pharmaceuticals, and cosmetics.

COVID-19 Impact: Industry Shutdown Causes Market Distortion

For chemicals and advance materials, the COVID-19 outbreak resulted in issues like unstable markets, a decline in client confidence, and challenges with import and export business. The global supply chain includes the sourcing of raw materials, packaging, and distribution. Moving commodities, chemicals, and other items has become challenging due to lockdowns. It had a financial impact on the markets for material in addition to having an immediate impact on markets, supply chains, supply and demand, and all of these other things. Producers of chemicals are focusing on protecting their workforce, operations, and supply networks in order to handle this urgent situation. The pandemic impacted the industry dynamics, forcing organizations to revamp their entire operation structures to maintain stability amid the disruptions. Aside from that, the companies' business operations have been affected by the outbreak, which has an effect on the overall chemicals and advanced materials industry. This has partially impacted the honeycomb activated carbon industry. 

LATEST TRENDS

"Air Purification to Boost the Market Growth"

The rising demand for air purification is expected to be one of the major trends driving the growth of the market. It is known for its high adsorption capacity, which makes it effective in removing volatile organic compounds (VOCs), gases, and other air pollutants. With increasing urbanization, industrialization, and growing awareness about the harmful effects of air pollution, there is a rising demand for air purification products such as air purifiers and HVAC systems. It is widely used in these products due to its ability to effectively remove pollutants from the air. It has been shown to be effective in removing airborne viruses and bacteria, making it a valuable component of air purification systems. As a result, the market is expected to see significant growth in the coming years as demand for air purification products continues to rise. Thus, during the forecast period, the aforementioned factors are anticipated to fuel market growth. The global market will benefit from these factors. Thus, a key trend that is opening up potential for the industry to grow is the rising demand for air purification. These new developments are mostly to blame for the market's overall growth.

honeycomb activated carbon market SEGMENTATION

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• By Types 

Based on type, the market is classified into water-resistant honeycomb activated carbon & ordinary honeycomb activated carbon.

• By Application

Based on the market is categorized into factory organic waste gas treatment, daily waste gas treatment, air purification, organic solvent adsorption & recovery & others.

DRIVING FACTORS

"Renewable Energy that Gives the Market Extra Boost"

The increasing demand for renewable energy is another factor boosting the market. It is a type of activated carbon that is widely used in various applications, including air purification, water treatment, and gas adsorption. This material is highly porous, which allows it to effectively capture and remove impurities from the air or water. Renewable energy sources, such as wind and solar power, have gained popularity in recent years due to their low carbon footprint and sustainable nature. However, renewable energy systems also require efficient energy storage systems to address the intermittent nature of these energy sources. This carbon can be used as an energy storage medium for renewable energy systems. It has a high surface area and high porosity, which makes it an ideal material for energy storage. It can be used in batteries and supercapacitors to store electrical energy generated from renewable sources. Additionally, this carbon can be used in fuel cells to convert chemical energy into electrical energy. As a result, the growth, and the increasing demand of renewable energy will boost the industry. It will contribute to the expansion of the chemicals & advanced materials industry and it will improve the honeycomb activated carbon market growth.

"Technological Advancement to Encourage Market Expansion"

Technological advancements in the production processes of honeycomb activated carbon have played a significant role in driving the growth of the market. Impregnation technology is used to enhance the adsorption properties of honeycomb carbon. This process involves the infusion of certain chemicals into the carbon matrix to increase its surface area and adsorption capacity. It is a process that involves treating the carbon material with a chemical agent to create a highly porous structure. This process creates more surface area for adsorption, which increases the effectiveness of honeycomb carbon. Microwave activation is a newer method of producing honeycomb carbon that involves the use of microwaves to heat the carbon material. This method is faster and more energy-efficient than traditional activation methods, resulting in lower production costs. Over the course of the forecast period, the market is anticipated to grow as a result of all these advanced features. As a result, these factors are collectively promoting market expansion, increasing company revenues. As a result, above mentioned factors will help the market to boost.

RESTRAINING FACTORS

"High Cost to Impede Market Expansion"

One of the main restraining factors in the market is the high cost of production. These carbons require specialized equipment and processes to manufacture, which can be expensive. The cost of raw materials, such as coconut shells or coal, can also fluctuate, which affects the overall cost of production. This obstacle prevents the market from growing. This factor is impeding market expansion. This may be a significant issue limiting market expansion. If this problem is fixed, the market will start to grow right away.

honeycomb activated carbon market REGIONAL INSIGHTS

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"North America Dominating the Market Across the Globe"

The market for honeycomb activated carbon is in North America has benefited from the region's expanding industrial development, and various driving factors which has increased the potential sectors as this region is the largest user of the product. The key factor driving the growth of the honeycomb activated carbon market share is the growing demand of product in the factory organic waste gas treatment, daily waste gas treatment, air purification, organic solvent adsorption & recovery is one of the major reasons to drive the market. Rapid urbanization developments will further boost the overall market.

KEY INDUSTRY PLAYERS

"Leading Manufacturers to Boost Product Demand"

Study includes information on the market players and where they stand within the sector. Data is being collected and made available through proper research, mergers, technical advancement, growing production facilities, and cooperation. The study on materials offers details on manufacturers, regions, types, applications, sales channels, distributors, traders, dealers, research findings, and more.

List of Market Players Profiled

• Honeycarb (U.S.)
• Ingevity (U.S.)
• CarboTech GmbH (Germany)
• Kuraray (Japan)    

REPORT COVERAGE

The study goes into great detail about market segmentation by type and application. The study examines a broad range of participants, including existing and potential market leaders. A considerable market expansion is anticipated as a result of several important factors. In order to provide market insights, the research additionally analyses elements that are probably to boost honeycomb activated carbon market share. The report makes forecasts for market expansion during the projected time period. The objective of the regional study is to explain why one region dominates the worldwide market. There are a lot of issues that have all been carefully considered that prevent the industry from growing. The research also contains a market strategic analysis. It includes thorough market information.