What is the global market size of Activated Carbon Fiber (ACF) Market?

Activated Carbon Fiber (ACF) Market size was valued at USD 1 billion in 2022 and is poised to grow from USD 1.07 billion in 2023 to USD 1.72 billion by 2030, at a CAGR of 7% during the forecast period (2023-2030).

Who are the key vendors in the Global Activated Carbon Fiber (ACF) Market?

The global activated carbon fiber market features intense competition among key players vying for market share. Industry leaders such as Kuraray Co. Ltd., Toyobo Co., Ltd., and Osaka Gas Chemicals Group dominate with their established product portfolios and technological expertise. Innovations, strategic partnerships, and expansion efforts characterize the competitive landscape as companies strive to capitalize on rising demand for water purification, air filtration, and energy storage applications. Market players focus on enhancing product quality, cost-effectiveness, and sustainability to gain a competitive edge, while also addressing environmental concerns. Overall, the market showcases dynamic rivalry driven by advancements in material science and increasing awareness of carbon footprint reduction. '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'.

What is the key driver of Global Activated Carbon Fiber (ACF) Market?

Growing concerns about air and water pollution have led to stricter environmental regulations worldwide. Activated carbon fibers are widely used for air and water purification due to their high adsorption capacity for various pollutants, including volatile organic compounds (VOCs), heavy metals, and other contaminants. As governments and industries increasingly focus on environmental protection and sustainable practices, the demand for activated carbon fibers for pollution control applications has been on the rise.

What is the key market trend for Global Activated Carbon Fiber (ACF) Market?

Rising Demand for Air and Water Purification: Activated carbon fibers have been widely used in air and water purification applications due to their high surface area and adsorption capabilities. One of the key trends was the increasing demand for clean and safe air and water across various industries and regions. This trend was driven by concerns about pollution, industrial emissions, and the need for better indoor air quality. As regulations and awareness about environmental issues continued to grow, the activated carbon fiber market saw increased adoption in sectors such as automotive, manufacturing, and municipal water treatment.

Which region accounted for the largest share in Global Activated Carbon Fiber (ACF) Market?

The largest application segment for activated carbon fibers has historically been air purification. With increasing concerns about indoor air quality and pollution, the demand for air purification systems that utilize activated carbon fibers for effective VOC and odor removal has been on the rise.

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 Insights

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).

The Activated Carbon Fiber (ACF) market is experiencing robust growth driven by increasing demand for efficient filtration and purification solutions across various industries. Activated Carbon Fiber, known for its high surface area and adsorption capacity, is increasingly used in air and water purification, medical applications, and industrial processes. The surge in environmental regulations and growing awareness of pollution control are significant factors propelling market demand. The medical sector, particularly in developing regions, is witnessing heightened adoption of ACF for respiratory masks and other healthcare products, spurred by the global pandemic and ongoing health concerns.

Adsorption of dissolved organic contaminants and the removal of flavors and odor-altering chemicals are the main functions of the product. The use of activated carbon injection (ACI) technology has made the purification process more affordable. To reduce mercury emissions, these techniques are mostly utilized in cement kilns and power plants. Growing pollution as a result of emissions from product manufacturing has been a key market-driving driver in the Global Activated Carbon Fiber Market.

US Activated Carbon Fiber (ACF) Market is poised to grow at a sustainable CAGR for the next forecast year.

Activated Carbon Fiber (ACF) Market Report Snapshots

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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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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 Insights

Activated Carbon Fiber (ACF) Market Report Snapshots

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What is the global market size of Activated Carbon Fiber (ACF) Market?

Who are the key vendors in the Activated Carbon Fiber (ACF) Market?

What is the key driver of Activated Carbon Fiber (ACF) Market?

What is the key market trend for Activated Carbon Fiber (ACF) Market?

Which region accounted for the largest share in Activated Carbon Fiber (ACF) Market?

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