Porous Carbon Market Report Overview
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global porous carbon market size was USD 4179.8 million in 2022 and market is projected to touch USD 6484.2 Million By 2031, exhibiting a CAGR of 5% during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with the porous carbon market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels.
There are a variety of applications for carbon in its dense and porous solid forms. Carbonaceous natural and synthetic precursors are pyrolyzed and activated to form activated porous carbons. During the last few years, these carbons have grown rapidly in popularity as a class of porous materials. This type of material is characterized by a tunable pore structure, good chemical and physical stability, variable specific surfaces, and the possibility of easy functionalization. Micropores are essential for the adsorption of small molecules on porous carbons, which have highly developed micro- and mesopore structures. It is important to study the mechanical properties of PCs in order to ensure their durability. A great deal of effort has been made to study the compressive brittleness of porous carbon materials.
Porous carbons can be grouped into two categories, the one’s foams that can be used as templates for ceramics; recently, they have been used as structural and thermal templates, and the carbons that have been activated by adding active chemical groups to the surface. There have been thousands of years of use of porous carbons, especially activated porous carbons, in industrial applications.
COVID-19 Impact: Halt on Chemicals and Advanced Materials to Hamper Market
Most businesses have been affected by the COVID-19 pandemic. A business shutdown mandate, limited state, and local government office activities, and social distancing norms affected porous carbon manufacturers in 2020. Various end-use industries also decreased their demand for porous carbon. As a result of the outbreak of the pandemic, global investments in the water sector have also been reduced. The porous carbon market is also growing due to the increasing demand for activated carbon for the manufacture of activated carbon filter masks. As a result of the ongoing COVID-19 pandemic, the demand for personal protective equipment has increased exponentially. There are therefore many opportunities for participants in the porous carbon market growth as the demand for activated carbon filter masks is growing.
Latest Trends
"Increase in the Use of Pollution Controlling Activated Carbon to Drive the Market"
As mercury control technology becomes increasingly important for various industrial air purification applications, the demand for activated carbon is expected to grow. Mercury and other hazardous air pollutants will be subject to stricter emission standards across the US and Europe in the next few years. Plants that manufacture cement clinker, power plants that burn coal, and boilers operating in industrial facilities fall into this category. The best performing facilities are required to meet specific emissions limits based on their own emissions levels. Maximum Achievable Control Technology (MACT) standards are set by the Environmental Protection Agency (EPA).
Porous Carbon Market Segmentations
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- By Type
The market is classified into activated carbon, activated carbon fiber, carbon molecular sieves, and others based on type. The activated carbon segment will lead the porous carbon market share throughout the forecast period.
- By Application
The market is classified into water treatment, air purification, mercury control, food & beverages, industrial processes, and others on the basis of application. The water treatment segment will lead the porous carbon market share throughout the forecast period.
Driving Factors
Rise in Water Treatment and the Usage of Porous Carbon in the Same to Drive the Market
As the demand for clean and safe potable water increases, product demand will increase as well. Market growth is attributed to the product's high surface area for adsorption that easily removes impurities such as oils, microbes, odor and taste imparting substances, and chemicals. A rapidly growing population also creates a high consumer demand for freshwater, which has led to an increase in water purification needs.
"Increase in the Usage of Activated Carbon in the Purification of Air & Gas to Drive the Market"
Due to its high adsorption potential, activated carbon is an excellent choice for air & gas purification due to its ability to bind odorous compounds and carcinogenic impurities. By removing harmful impurities from air streams, it delivers clean, non-hazardous air for home air purification and personal safety applications. Hydrogen separation and biogas treatment are also possible with the product. By shielding downstream equipment from corrosive silicon dioxide, it reduces manufacturing costs and increases output yields. Air emissions from most processing plants are expected to be reduced. Both organic and inorganic compounds can be purified using activated charcoal air-treatment systems. There is a major health risk associated with exposure to volatile organic compounds at home and at work.
Restraining Factors
"Limited Availability of Raw Materials and Thereby Increase in Price to Restrain the Market"
Activated carbon producers are dependent on coconut shells as raw materials, which is a constraint. As a result of natural disasters, the value chain of activated carbon is hindered. As a result, raw materials such as coconut shells have increased in price. As a result, the availability of suitable grades of coal required for the production of activated carbon is affected by the demands of various industries, such as power, iron and steel, and cement plants.
Porous Carbon Market Regional Insights
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"Asia Pacific to Lead the Market Owing to the Rise in Population"
Over the past few years, Asia Pacific has dominated the market. As China and India are two of the major consuming countries, mainly for water treatment applications, it is expected to remain dominant throughout the forecast period. There has been an exponential rise in population in Asia Pacific region, resulting in a greater demand for potable water and activated charcoal. Further, raw materials are easily available and cost-effective, supporting market growth.
Key Industry Players
"Leading Players Adopt Acquisition Strategies to Stay Competitive "
Several players in the market are using acquisition strategies to build their business portfolios 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 porous carbon market.
List of Market Players Profiled
- Kuraray (Japan)
- Osaka Gas Chemicals (Japan)
- Fujian Yuanli (China)
- Cabot (U.S.)
- Ingevity (U.S.)
- Haycarb (Sri Lanka)
- Jinding Activated Carbon (China)
- ADA-ES (U.S.)
- Fujian Xinsen Carbon (China)
- MuLinSen Activated Carbon (China)
- Boyce Carbon (India)
- Active Char Products (India)
- Silcarbon Aktivkohle (Europe)
- Shanxi Xinhua Chemical (China)
- CarboTech AC (Europe)
REPORT COVERAGE
In the report, factors affecting the market from both demand and supply are evaluated and market dynamics during the forecast period are also forecasted. Also included in the report is a comprehensive PEST analysis of countries, which assesses the governmental, financial, and shared factors influencing their markets. Apart from all of these, the report also provides drivers, restraints, opportunities, and future trends.
Frequently Asked Questions
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1. What value is the porous carbon market expected to touch by 2031?
The porous carbon market is expected to reach a value of USD 6484.2 Million By 2031.
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2. What CAGR is the porous carbon market expected to exhibit by 2031?
The porous carbon market is expected to exhibit a CAGR of 5.0% by 2031.
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3. Which are the driving factors of the porous carbon market?
Rise in water treatment and the usage of porous carbon in the same, and increase in the usage of activated carbon in the purification of air & gas are some of the major driving factors of the porous carbon market.
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4. Which are the top companies in the porous carbon market?
The top companies in the porous carbon market include Kuraray, Osaka Gas Chemicals, Fujian Yuanli, Cabot and Ingevity, etc.