July 25, 2018
WELLESLEY, Mass., July 25, 2018 – Due to stricter environmental standards and a growing need to purify water, especially in pharmaceutical and chemicals industries, demand for activated carbon is growing, according to a new report from BCC Research.
The global market for activated carbon was worth $4.9 billion in 2017. As outlined in the report “Activated Carbon: Types and Global Markets,” the global market is expected to reach $5.4 billion in 2018 and $9.7 billion in 2023, indicating a compound annual growth rate (CAGR) of 12.1%.
Regulatory actions are a key driver for activated carbon, particularly in industrialized nations. For instance, in the U.S., the demand for activated carbon in mercury removal applications is likely to witness especially high demand due to the enactment of the U.S. Environmental Protection Agency’s Mercury and Air Toxics Standards. In several developing countries, industrial air treatment applications are witnessing increased demand as urban areas are experiencing significant pollution issues.
“The activated carbon market is witnessing tight supply, and this has compelled manufacturers to increased prices of virgin activated carbon,” the report notes. “This has led to the increased demand for reactivated carbon in several applications such as refineries to reduce VOCs in groundwater remediation, gas phase applications and wastewater treatment applications.”
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Activated Carbon: Types and Global Markets( AVM171A )
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