Activated Carbon Market Analysis
Activated carbon is usually derived from charcoal. It can be manufactured from any organic material having high carbon content, such as bituminous coal, wood, peat, lignite, and coconut shells. It is used in wide variety of applications which include gas, vapor, and liquid treatment.
Global Activated Carbon Market Share
The Global activated carbon market is expected to reach $3 billion by end of 2016 from the growth recorded at a CAGR of 11.1%. From the chart it is clear that Powdered and Granular segments are the key revenue generators for this market.
Powdered activated carbon (PAC) is the largest product segment. EPA mercury and Air Toxics Standards along with the cement and industrial boiler mercury control standards accompanying it are together expected to drive the activated carbon market.
Granular form (GAC) is expected to grow at CAGR of 12.6% owing to increasing application scope such as absorption of gases and vapors, deodorization and separation of flow system. They are widely preferred due to some properties like hydraulic head, balance of size and surface area.
Other forms like extruded, bead activated, impregnated and polymer coated are expected to grow at CAGR of 7.1% accounting for end-use application such as gas phase fluidized bed, air pollution control etc.
One of the key challenges is the availability of raw materials like coconut shell charcoal. Even in Sri Lanka there is an increment in the prices of coconut shell charcoal. Other major raw materials are,
- Coconut shells