As per Future Market Insights, the Activated Carbon Filter market is anticipated to attain a value pool of US$ 75 Billion by 2023-end. Global demand for Activated Carbon Filter is expected to rise at a CAGR of 7.2% to US$ 150 Billion in 2033.
Increasing Demand for Clean and Safe Drinking Water Boosts Activated Carbon Filter Market
Emergence of New Applications Expanding Activated Carbon Filter Market
IoT and AI Integration Revolutionizing Activated Carbon Filter Systems
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 75 Billion |
| Projected Market Value in 2033 | US$ 150 Billion |
| Growth Rate (2023 to 2033) | 7.2% CAGR |
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According to the latest research, The Activated carbon filter market size is projected to expand between 6.0% and 8.0% CAGR during the 2021-2031 assessment period.
The growth of the market can be attributed due to stringent governmental regulations on water purification and regulations implemented by environmental agencies on industrial discharge. The growing demand for improved properties and quality is expected to provide growth opportunities for the activated carbon filter market.
Major factors driving the market are the growing demand from the Water treatment technology which is gaining prominence all over the world.
Companies are striving to adopt environment-friendly and efficient water disposal techniques. This has boosted the demand for activated carbon. In 2019, consumption of activated carbon in water treatment application reached more than 40% of the total volume manufactured in the world.
High economic growth and increase in population are expected to drive the industrial sector, thereby propelling the demand for activated carbon filters in industrial water pollution treatment and water purification applications.
In the food and beverages sector, these filters are employed in processes such as removal of contaminants or impurities such as color and odor from sweeteners, food liquids, syrups, beverages, glycerin, and amino and organic acids.
Growth in demand for processed foods and beverages is a major factor estimated to drive the market in the near future.
Principal Consultant
Increasing demand from the Steel industries is one of the major factors driving the world’s activated carbon filters market. Stainless steel shell was the largest segment of the products markets globally in 2019 in terms of value. The stainless steel shell is anticipated to account for the biggest share of the overall market during the forecast period.
The growth of stainless steel shell is attributed to its durability and less-corrosive properties. Carbon steel shell activated carbon filters are less durable because of its corrosive nature.
The industrial water pollution treatment application is also expected to be the largest, and the drinking water purification application is expected to be the fastest-growing segment in the overall market.
The global activated carbon filter market is mainly driven by the implementation of stringent regulations by regional governments and environmental agencies to control water pollution. Also, they are used to treat industrial discharge to re-use it in the manufacturing process again.
Re-use of industrial discharge water and water pollution control are the two major making industrial water pollution treatment the largest application in the market.
APAC is estimated to be the largest market for activated carbon filters in forecasted period. The market for this region is segmented into China, India, Japan, Malaysia, Indonesia, and the Rest of APAC.
According to the World Bank, APAC is the fastest-growing region in terms of both population and economy. The region has witnessed significant growth in the past decade, accounting for over one-third of the world’s GDP.
High economic growth, coupled with the increasing population, is expected to drive the region’s industrial sector. This is expected to increase the demand for the product in water pollution treatment and water purification applications.
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North America is also expected to witness significant activated carbon filter market growth of this compound on account of rising production in the food and steel industries over the forecast period.
However, Demand in this region is supposed to grow at a moderate pace due to the slowdown in production in end-use industries. The capacity additions in the region of the USA and Canada are predicted to increase the market call over the outlook period.
Some of the leading manufacturers and suppliers include
Several key market participants are focusing on new & innovative product development to cater to the growing demand from the end-use sector. Key players are investing an enormous amount in research and development to introduce new products and they are also investing to manufacture products in a sustainable way, to decrease the carbon emission.
Key players are also focusing on acquisitions of small and medium-size players and collaborations with other market participants either for R&D or to manufacture the product at a large scale. The report is a compilation of first-hand information, qualitative and quantitative assessments by industry analysts, and inputs from industry experts and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Activated Carbon Filter Market
