Albany - NY, Sept. 29, 2016 (GLOBE NEWSWIRE) -- Global Wood Activated Carbon Market: Snapshot
The current state of air quality and growing climate control concerns are the key factors driving the demand for wood activated carbon across the world. Over 70% of the overall mercury emissions in the world come from power generation sources. The removal of mercury particles from power plant emissions is one of the core requirements of wood activated carbon. The regulatory norms surrounding mercury emission have also solidified considerably in the recent past, especially in the U.S. and China, two strong production economies in the world. The growing level of emission control points to the extensive use of wood activated carbon as one of the cleaner and safer ways to remove gaseous impurities.
Similar uses of wood activated carbon are found in water purification. The removal of pollutants including sewage wastes, effluents and industrial wastes, and agrochemicals are the core chemicals that need to be removed from water before domestic consumption. The growing need for wood activated carbon to control the amount of water pollution has sparked a very demand for it in emerging economies.
The revenue generated in the global market for wood activated carbon is expected to reach US$224.7 mn by the end of 2016 and US$456.0 mn by the end of 2024. This revenue is expected to progress at a CAGR of 9.2% from 2016 to 2024.
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Massive APAC Demand for Wood Activated Carbon
A massive proportion of the global demand for wood activated carbon comes from Asia Pacific. By the end of 2024, it is expected that Asia Pacific will account for 44.1% of the total volume of wood activated carbon consumed in the world. The primary reason for this is the strengthening push to secure cleaner air and water quality in the region’s top emerging nations. Apart from the removal of impurities, Asia Pacific is also showing a high demand for wood activated carbon in decolorization. The region also benefits massively from the strong presence of several key wood activated carbon producers, thereby gaining a higher level of supply and demand.
North America and Europe are expected to generate most of their demand for from the need to remove gaseous impurities. Although both regions are showing a high demand for wood activated carbon, Europe is expected to lose share percentage by 2024 to the booming demand shown by Asia Pacific.
Impurity Removal Remains Top Concern for Wood Activated Carbon Use
By the end of 2024, 30.3% of the total wood activated carbon consumed is expected to go into the removal of impurities. Environment protection and emission control are being taken very seriously in all regions of the world today. Additional measures such as the use of wood activated carbon are therefore being taken, especially in regions that are showing a high rate of industrial growth. This application segment is expected to continue leading the demand for wood activated carbon over the coming years as pollution control norms are only expected to become stricter.
The second-largest use of wood activated carbon comes from decolorization. This application segment caters to the use of wood activated carbon in the industries of sugar, food, pharmaceuticals, and wastewater management. In wastewater management, wood activated carbon is used to decolor cleaning solvents.
The top providers of wood activated carbon in the world include Calgon Carbon Corporation, Cabot Corporation, Ingevity Corporation, and Osaka Gas Chemicals Co. Ltd.
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- Removal of impurities expected to generate US$141.8 mn for wood activated carbon players by 2024.
- Asia Pacific wood activated carbon consumption expected to generate revenue of US$197.18 mn by the end of 2024.
- Total revenue earned by wood activated carbon players on a global level is expected to reach US$456.0 mn by 2024.
Key segments of the Global Wood Activated Carbon Market
Global Wood Activated Carbon Market, by Application
- Gas adsorption
- Removal of impurities
- Others (recovery of organic solvents, etc.)
Global Wood Activated Carbon Market, by Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Source:Transparency Market Research