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According to a new report published by K D Market Insights, titled, “Activated Carbon Fiber Insights, Trends, Opportunity & Forecast, 2022–2032,” the global activated carbon fiber market size is anticipated to witness single-digit growth during the forecast period i.e. 2022-2032. North America accounted for a large share of the market, owing to the increasing demand for the product from several end-user industries, such as the chemical industry, medical industry and the purification industry among others.
Growing need for potable water, surge in the number of water treatment plants, escalating chemical industry, expanding concern for air pollution, and increasing advancements in manufacturing technology are the major factors that are propelling the growth of the market. Owing to the surge in the population worldwide, the demand for potable water is increasing, which in turn, is raising the need for water purification systems. This, as a result, is driving the demand for ACFs as these filters are used widely in the water purification systems.
The market in North America is projected to register the largest market share over the forecast period. On the contrary, the market in the Asia Pacific is poised to grow with the highest CAGR during the forecast period owing to the growing concern for air pollution across several countries in the region. ACFs are widely used in air pollution removal equipment, which is projected to boost the demand for these products.
The powdered activated carbon fiber segment is projected to register the highest share under the type segment. These powdered filters are used widely in the purification of wine on the back of its properties to be able to remove odor, haze and for decolorizing wine. These filters are also known for being able to modify the taste of beer and for the purification of gelatin. Backed by its wide utilization in the alcoholic beverages industry, the demand for powdered ACFs are projected to multiply in the coming years.
The global activated carbon fiber market is segmented into type, application, end-user, and region. By type, the market is segmented into powdered, granular, and others. By application, the market is segmented into liquid, and gas phase. Further, by end-user, the market is segmented into water treatment, food & beverage processing, pharmaceutical & medical, automotive, air purification, and others.
The global activated carbon fiber market is analyzed across North America (U.S. & Canada), Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Australia, New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of Latin America) and Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of the Middle East & Africa). Asia Pacific market is expected to witness lucrative growth during the forecast period. China, India, Japan, and Korea are key contributors to the growth of activated carbon fiber market in the Asia Pacific.
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Key Insights of the Activated Carbon Fiber Market
Some of the major activated carbon fiber companies profiled in the report include CarbPure Technologies, Boyce Carbon, Cabot Corporation, Kuraray Co., CarboTech AC GmbH, Donau Chemie AG, Haycarb (Pvt) Ltd., Jacobi Carbons Group, Kureha Corporation, and Osaka Gas Chemicals Co., Ltd. among others.
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