REPORT OVERVIEW
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The global Spherical Active Carbon Market size was worth USD 108.8 million in 2022. 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. As per our research, the market is expected to reach USD 140.9 million by 2028, exhibiting a CAGR of 4.4 % during the forecast period. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
Spherical activated carbon is a substance with distinct properties and uses. It can be utilized to filter out poisons and hazardous compounds from water, air, or soil thanks to its larger surface areas and improved mechanical qualities. It has been demonstrated to kill specific species of bacteria in both water and oil spills. Pretzel odors and tastes can be eliminated with spherical activated carbon. Granulated carbon that has been prepared through grinding and heating is known as spherical activated carbon (SAC). SAC is the most effective adsorbent for removing heavy metals from wastewater in mechanical and catalytic processes, such as acid-washed coal washing.
COVID-19 Impact: Supply Chain Concerns Led to Downfall Over Brief Period
Global productivity has decreased as a result of the current coronavirus outbreak, which has also had an impact on various different economies throughout the world. The output rate has decreased as a result of the stagnating state of the industrial units. The supply of activated charcoal has decreased as a result worldwide. In the industrial, commercial, and residential sectors, it is mostly utilized for the purification of water. Regional industrial operations have been impacted by the strict restrictions implemented to stop the disease's spread. The product's use in the treatment of industrial wastewater has decreased due to temporary stoppage of production facilities.
LATEST TRENDS
"Expanding Application Scope Propels Market Forward"
Due to its strong adsorption ability for a variety of molecules ranging from odorous chemicals to carcinogenic pollutants, activated charcoal is a great choice for air and gas filtration. In applications like residential air purification and personal safety, it removes dangerous contaminants from the air streams to produce clean, non-hazardous air. The product is also used to separate hydrogen from biogas. By protecting downstream machinery like engines, catalysts, and fuel cells from corrosive silicon dioxide and enhancing production yields, it reduces manufacturing costs. The majority of processing facilities are projected to decrease air emissions of dangerous or offensive substances. One of the most efficient methods for the filtration of both organic and inorganic compounds is activated charcoal air treatment systems.
Segmentation
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- By Type Analysis
The global market is divided into powdered, granular, and other types based on type. The powdered segment will gain momentum in the coming years.
- By Application Analysis
The market is divided into categories like Gas and Waste Water Recovery, Clean Room Air and Chemical Filters, Polysilicon Production Process, Water Treatment, Medicine, Others. the gas and wastewater recovery segment captures major market share.
DRIVING FACTORS
"Advanced Features of Spherical Active Carbon Market to Facilitate Market Development"
Demand for the product increases along with the demand for clean, safe drinking water. The market is growing as a result of the product's high accessible surface area for adsorption, which removes pollutants such oils, bacteria, compounds that impart flavor and odor, and chemicals. Examples include the provision of VOC/siloxane removal systems in biogas engines in Europe and the provision of industrial solutions by Carbon Activated Corp. In the United States. Due to increasing levels of water contamination, governmental authorities have been obliged to implement tough restrictions on handling industrial effluent. This has led many businesses, including those in the paper and pulp, chemical, and paint and dye industries, to install water treatment systems in their buildings, which has raised the demand for charcoal to remove pollutants.
"Growing Application in Water Treatment to Foster Development of Market"
As the need for clean, safe drinking water rises, so does the product demand. The product's large accessible surface area for adsorption, which eliminates contaminants such oils, microorganisms, compounds that impart flavor and odor, and chemicals, is responsible for the market's expansion. For instance, in the United States, Carbon Activated Corp. offers industrial solutions; in Europe, VOC/siloxane removal systems in biogas engines are provided. A strong consumer demand for freshwater is being driven by an exponentially growing population, and this has raised the need for water filtration.
Government officials have been forced to enact strict laws on handling industrial wastewater due to rising levels of water contamination. This has influenced a variety of sectors, including paints & dyes, chemicals, and paper & pulp.
RESTRAINING FACTORS
"Lack of Raw Material Unavailability Hampers Market Expansion "
One danger to the market's expansion is the unavailability of different raw materials required in manufacturing, such as charcoal made from coconut shells. As a result, the price of raw materials has increased, with coconut shell charcoal seeing the biggest increase. Prices of products made from coal have gone up as a result of rising energy demands. Coal is widely employed in China's major industrial sectors, including those that produce steel, cement, and electricity. As a result, there aren't enough of certain coal grades available to make the product. Although the production output of producers has been impacted by the fall in demand for coconuts, this has led manufacturers to raise production capacity by 50% to 60%, which has led to a rise in product prices.
REGIONAL INSIGHTS
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"Presence of Prominent Players in different regions"
Asia Pacific leads the global market growth due to the fact that China and India are two of the top consumer nations, particularly for water treatment applications, it is anticipated to maintain its dominance during the projection period. The Asia Pacific region's exponential population growth has raised the need for activated charcoal as a result of the region's rising requirement for clean, safe drinking water. Raw resources are also anticipated to be readily available and inexpensive, supporting the market's expansion.
Due to a rise in the demand for applications involving water and air purification, the U.S. dominated the market in North America. Government rules governing the treatment of industrial effluent and gas emissions have resulted in regional growth.
KEY INDUSTRY PLAYERS
"Market Players Focus on New Product Launches to Strengthen Market Position"
Leading players in the market are adopting various strategies to expand their presence in the market. These include R&D investments and launch of new, technologically-advanced products in the market. Some companies are also adopting strategies such as partnerships, mergers, and acquisitions to strengthen their market position.
List of Market Players Profiled
- Kureha Corporation
- Kuraray
- Osaka Gas Chemical Group
- Seachem
- Aolin Filter Co., Ltd.
- Jiangsu Sensen Carbon Technology Co., Ltd.
REPORT COVERAGE
The report delivers information about the list of market players and their working in the industry. The information is collected and reported with proper research, technological developments, acquisitions, mergers, expanding production lines, and partnerships. Other aspects examined for the global acrylic yarn market include companies producing and introducing new products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.
| REPORT COVERAGE | DETAILS |
|---|---|
| Market Size Value In | US$ 108.8 Million in 2022 |
| Market Size Value By | US$ 140.9 Million by 2028 |
| Growth Rate | CAGR of 4.4% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
| Historical Data Available | Yes |
| Segments Covered | Type and Application |
| Regional Scope | Global |
Frequently Asked Questions
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What value is the global Spherical Active Carbon Market expected to touch by 2028?
The global Spherical Active Carbon market is expected to touch USD 140.9 million by 2028 .
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What CAGR is the Spherical Active Carbon market expected to exhibit during 2022-2028?
The Spherical Active Carbon market is expected to exhibit a CAGR of 4.4 % over 2022-2028.
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Which are the driving factors of the Spherical Active Carbon market?
Along with the rise in demand for clean, safe drinking water, so does the need for the commodity. The products large accessible surface area for adsorption, which eliminates contaminants such oils, germs, compounds that impart flavor and odor, and chemicals, is driving Spherical Active Carbon market growth.
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Which are the top companies operating in the Spherical Active Carbon market?
Kureha Corporation, Kuraray, Osaka Gas Chemical Group, Seachem , Aolin Filter Co. Ltd., Jiangsu Sensen Carbon Technology Co., Ltd.are the top companies operating in the Spherical Active Carbon market.
