Rockville, May 04, 2023 (GLOBE NEWSWIRE) — Fact.MR – A Market Research and Competitive Intelligence Provider: According to our analysts, the activated carbon filter market is to be worth US$ 75 billion by 2023. The global activated carbon filter size is predicted to expand at a 7.2% CAGR to US$ 150 billion by 2033.
The market’s expansion can be ascribed to severe governmental rules on water purification and environmental authorities’ implementation of industrial discharge laws. The growing need for better characteristics and quality is projected to accelerate the activated carbon filter industry forward.
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New Market Strategies
- Announcing the purchase of a solar farm in Chiba, Japan is CABOT Corporation.
On April 20, 2023, Cabot Corporation purchased the Chiba solar farm from Shoko Co., Ltd. The solar farm, which is next to Cabot’s carbon black production facility in Chiba, Japan, allows Cabot to export solar energy as a renewable energy source to the local electrical grid.
- H2O Engineering, Inc. is purchased by Newterra.
The San Luis Obispo, California-based supplier H2O Engineering Inc., which specializes in customized water treatment solutions to fit the unique demands of its clients, was bought, according to Newterra Inc., on December 20, 2022.
- AquaWorks DBO – Colorado Wastewater Partnership
Newterra established a deal with Denver-based professional engineering firm AquaWorks DBO in January 2021 to supply Colorado with entire wastewater treatment plants with a capacity of 5,000 to 75,000 GPD.
Factors Giving a Shot in the Arm to the Market
Governmental restrictions on water purification are becoming stringent, which is a key element surging activated carbon filter market expansion and high levels of demand for the water and wastewater processing industries.
Growing environmental concerns are increasing demand for purification and filter media, which in turn drives the market’s expansion. The amount of research and innovation in carbon production has increased, which has further boosted sales.
The market is driven by the expanding uses in various sectors, the element’s enhanced adsorption capability, and rising recent technological breakthroughs in manufacturing. Increased gas separation in new applications of activated carbon filters and rising research and development activities open up new opportunities for the activated carbon filter business.
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Essential Market Insights
- The drinking water purification treatment segment to be the leading segment in the global activated carbon filter industry from 2023 to 2033, by application outlook.
- According to type forecasts, the motor stainless-steel shell sector commands a significant activated carbon filter market share.
- According to market analysis, the region with the accelerated growth rate is Asia Pacific.
- Throughout the projected period (from 2023 to 2033), the North America region holds the dominant activated carbon filters market share.
Competitive Landscape
The activated carbon filter industry is extremely fragmented. High competition is there in the market due to the presence of global firms. To establish product distinction, many businesses eagerly anticipate investing in research and development.
The removal of pollutants from water is a key function of activated carbon in water treatment applications. Activated carbon filter manufacturers are looking to work with all kinds of international governments.
Market Titans
- TIGG LLC (The United States)
- Puragen Activated Carbons (The United States)
- Cabot Corporation (The United States)
- Westech Engineering (The United States)
- Kuraray Co. Ltd. (Japan)
- Lenntech B.V. (The Netherlands)
- Donau Carbon Corporation (Germany)
- General Carbon Corporation (The United States)
- Sereco S.R.L. (Italy)
- Carbtrol Corp (The United States)
Factors Making it an Uphill Struggle for the Market
The key elements functioning as restrictions include a lack of raw materials for the product’s manufacture, resulting in great production costs, and the increasing presence of certain alternative product offerings.
Weak economic growth and limited investment potential in different industries as a result of COVID-19 hamper activated carbon filter market growth throughout the projection period.
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Regional Outlook
Asia-Pacific controls the activated carbon filter market due to rigorous government rules on water purification and growing demand for the water and wastewater processing industries in the region. Growing environmental concerns have increased demand for purification and filter media as well as research and development in the carbon production process has boosted sales in the Asia Pacific.
Rising applications in sectors surge the demand because of the increased environmental regulations on industrial discharge. Increased adsorption capacity and growing technological advancements escalate North America manufacturing. North America is the second-leading region in terms of market growth for activated carbon filters.
Europe activated carbon filter market may expand owing to growing government attempts to protect the environment in Europe and growing environmental concerns.
Industry Research Report
- By Shell Type:
- Stainless Steel Shell
- Carbon Steel Shell
- Others
- By Application:
- Industrial Water Treatment
- Drinking Water Treatment
- Food and Beverages
- Pharmaceutical
- Others
- By Region:
- North America Market
- Latin America Market
- Europe Market
- Asia Pacific Market
- East Asia Market
- The Middle East & Africa (MEA) Market
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