Global Activated Carbon Fiber (ACF) Market

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

Report ID: SQMIG15E2382 | Region: Global | Published Date: March, 2024
Pages: 184 | Tables: 64 | Figures: 75

Activated Carbon Fiber (ACF) Market News

  • In January 2023, Whirlpool Corporation acquired Insignia Products. Insignia is a leading brand of smart home appliances, including ovens.
  • In February 2023, Samsung Electronics acquired ChefSteps. ChefSteps is a leading provider of online cooking courses and recipes.
  • In March 2023, Haier Group acquired Mealthy. Mealthy is a leading brand of connected kitchen appliances, including ovens.
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Global Activated Carbon Market size was valued at around USD 352.08 Million in 2022 and is expected to rise from USD 383.68 Million in 2023 to reach a value of USD 762.85 million by 2031, at a CAGR of 8.91% over the forecast period (2024–2031).  

High levels of competition are a result of the market's large number of multinational players. These businesses eagerly anticipate spending money on R&D to differentiate their products. Governments and businesses are working to promote the product's use in the main end-use industries. Activated carbon market growth is anticipated to be aided by all of these factors over the upcoming forecast period.  'Kuraray Co., Ltd. - Japan', 'Toyobo Co., Ltd. - Japan', 'Osaka Gas Chemicals Group - Japan', 'Teijin Limited - Japan', 'Kureha Corporation - Japan', 'Awa Paper Mfg. Co., Ltd. - Japan', 'Hayleys Group - Sri Lanka', 'Solvay S.A. - Belgium', 'Spintek Filtration Inc. - USA', 'Unitika Ltd. - Japan', 'Nippon Kynol, Inc. - Japan', 'Anshan Sinocarb Carbon Fibers Co., Ltd. - China', 'Neenah Gessner GmbH - Germany', 'Mitsubishi Chemical Corporation - Japan', 'SGL Carbon SE - Germany', 'Murata Manufacturing Co., Ltd. - Japan', 'Cabot Corporation - USA', 'Takeda Pharmaceutical Company Limited - Japan (Takeda Carbon Fiber)', 'Wacker Chemie AG - Germany', 'Nantong Senyou Fiber Products Co., Ltd. - China'

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.  

Increased Usage in Air and Gas Cleaning: Activated carbon has a strong adsorption potential for a range of molecules, including odorous chemicals and carcinogenic contaminants, making it a great choice for air and gas cleaning. It delivers clean, non-hazardous air by removing dangerous contaminants from the air streams in applications including personal safety and residential air purification. The product is also used to separate hydrogen from biogas and treat biogas. By protecting downstream machineries like engines, catalysts, and fuel cells from corrosive silicon dioxide and enhancing production yields, reduces manufacturing costs.

The Asia-Pacific dominating as well as fastest growing region in this market with a share of 57.5%, driven by rapid industrialization and stringent environmental regulations, coupled with growing demand for clean water and air. It is also considered one of the fastest-growing regions in the activated charcoal market globally. Growth in this region is driven by investments in high-end filtration technologies such as activated carbon fiber, with robust manufacturing capabilities and rapidly expanding consumer markets. It can steal the lead in the forecast period, also, due to China and India being two of the major consumers, particularly for applications involving water treatment. China is projected to account for USD 297.43 million, followed by India, which is expected to contribute USD 48.89 million by 2031. Exponential growth in population in the Asia-Pacific region has boosted demand for pure and safe drinkable water. Due to the low cost and easy availability of raw materials, the market will grow. 

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Global Activated Carbon Fiber (ACF) Market

Report ID: SQMIG15E2382

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