Activated Carbon Fiber (ACF) Market Size, Share, Growth Analysis, By Material(Synthetic, and Natural), By Application(Air Purification, Wastewater Treatment, Chemical Separation & Catalysis, Protective Clothing), By Region - Industry Forecast 2024-2031

Activated Carbon Fiber (ACF) Market Drivers

Increasing Demand for Water Treatment Application 

• The demand for the product is expanding along with the demand for clean, safe drinking water. The characteristics of the product, particularly the high surface area accessible for adsorption that readily eliminates contaminants including oils, microorganisms, odor- and taste-giving substances, and chemicals, may be credited for the Global Activated Carbon Fiber Market's expansion. High consumer demand for freshwater is being driven by an exponentially growing population, which has raised the need for water filtration systems. Government officials have been forced to enact strict laws on handling industrial wastewater due to rising levels of water contamination. As a result, the need for charcoal to remove pollutants has increased as several businesses, including paper & pulp, chemicals, and paints & dyes, have been ordered to add water treatment units into their facilities.  

Increasing Public Awareness Regarding Health Risks Associated with Poor IAQ  

• Demand for advanced air filtration systems is also driven by growing public awareness of the health risks associated with poor IAQ. This sort of increase is highly influenced by a set of studies showing that indoor pollutants are connected with such serious diseases or illnesses as respiratory diseases, cardiovascular problems, and even cancer. This increases consumer demand for some kind of robust air filtration solutions in order to reduce the risk; this places ACF as one of the most critical materials in the market. In that sense, application of ACF in air filtration systems showed several advantages owing to the adsorption capacity of ACF according to the deep study carried out by SkyQuest. ACF proves quite effective at removing many types of indoor pollutants, including VOCs such as toluene, benzene, o-xylene, 1-butanol, limonene, undecane, and formaldehyde. These latter indoor pollutants can, as also above-mentioned, independently emanate from sources such as cleaning agents, building materials, and furniture, usually found in many residential buildings and even in commercial buildings. This makes the compounds adsorbed by ACF an imperative constituent of IAQ improvement. 

Restraints 

ACF Faces Competition from Well-established and Cost-effective Alternatives 

• One of the major challenges to ACF is the firmly established, more cost-effective alternatives in existence to ACF, such as the activated carbon powder or beads. To overcome these sunset options, one needs to make a good value proposition to justify their higher costs vis-à-vis the ACF. This competition poses a significant challenge to the global ACF market, which has to prove better performance and cost-effectiveness if it is to capture considerable market share. Furthermore, our research suggests that in many industries, activated carbon powder and beads have been the preference all along due to lower associated costs of production and wide availability. These conventional forms of activated carbon have well-developed supply chains and are very familiar to a large user base; efficacy has already been proven in many applications, making them fiercely competitive to ACF. Decades of experience in the cost-effective solutions to various industries, among them water treatment, air purification, and chemical processing, have created a quite stiff barrier to market entry for many of the newer materials, ACF included. 

Hike in Prices Due to Raw Material Shortage 

• The shortage of certain raw materials utilized in production, such as coconut shell charcoal, is a risk factor in the Global Activated Carbon Fiber Market's growth. 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. The decrease in demand for coconuts has had an impact on producers' operational output, which has prompted manufacturers to expand production capacity by 50% to 60%, leading to a rise in product prices.