Wood Activated Carbon growth outlook with industry review and forecasts 2017-2024
Wood Activated Carbon
Market to
surpass USD 500 million by 2024; according to a new research report by Global Market
Insights, Inc.
The
changes in regulatory norms regarding the control of harmful gas emission is
the key factor for industry growth in forecast timeframe. Nearly 80% of mercury
and other harmful gas emission comes from the manufacturing units, mines, and
other thermal power plants and almost all regional governments are cracking
down on this issue. Increasing pressure from the government for maintaining the
air quality and reducing the mercury level will spur the wood activated carbon
market demand in the near future.
This
is due to the superior features which include low cost, ease of availability,
extreme purity, and high filtration strength. As compared to other regions,
Asia Pacific led by China and India, and Europe are on the top of the list for
significant product consumption owing to presence of myriad manufacturing units.
Strict
norms regarding the cutting down of trees for the production of wood activated
carbon will be a major restraining factor for the industry growth in coming
years. Regulatory bodies include United Nations Framework Convention on Climate
Change (UNFCCC), Institute for Rural Settlement and Agrarian Reform (INCRA),
Institute of Man and Environment of Amazonia (IMAZON), National Institute for
Space Research (INPE), etc. in Latin America and Europe will restrict the
industry growth by implementing various rules to save the flora and fauna.
Wood activated carbon market has been segregated based on
product, application, end-user and region. The product segment comprises powdered
and granular wood activated carbon. Among these, powdered form will hold over
two-thirds of the entire wood activated carbon industry in 2024. Powdered form
of the product is cheaper than granular one and find its usage for water and
air purification as it has superior adsorption, high filtration and
purification strength.
Wood activated carbon market applications are segmented
based on product usage which include fluid adsorption, decolorization,
purification, and others. Other applications comprise deodorizing, solvent
recycling, etc. Among these, fluid adsorption and purification will have a
combined share of over 55% in this segment in 2024.
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The major end-user segments include air treatment, water
treatment, food & beverage, and pharmaceutical. Minor industries include
automotive, chemical, gold mining, etc. and have been considered in the others
segment. In terms of revenue, water treatment is likely to generate more than
USD 200 million in 2024. This is due to the excessive usage of the product in
water treatment plants owing to the superior intrinsic properties.
Latin America and Asia Pacific’s wood activated carbon
market will be a largest with over 45% of the entire industry in coming years.
Latin America will account for over USD 30 million growing with a noteworthy
CAGR over the forecast period. High production and abundant availability of raw
materials in these regions will promote the regional industry growth by 2024,
which will positively influence the overall wood activated carbon market growth.
The major producers in the wood activated carbon industry
include Kuraray, Haycarb, Ingevity Corporation, Chemtex, D&R Corporation,
PT. Rodaniaga Kokoh Nusantara and others.
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reports offer clients with penetrative insights and actionable market data
specially designed and presented to aid strategic decision making. These
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Global Market Insights, Inc.
Phone:1-302-846-7766
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Wood Activated Carbon growth outlook with industry review and forecasts 2017-2024
Reviewed by Pradip Varpe
on
February 12, 2018
Rating:
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