Global wood activated carbon market is expected to witness major expansion due to its increasing application in water treatment and food & beverage processing industries. Manufacturers of wood activated carbon are concentrated in the Asia Pacific region due to the large number of wood processing units in countries such as India, China and Malaysia. Several mandates such as U.S. Environment Protection Act and E.U.’s REACH require industries to properly treat waste water before releasing it into the environment.
Seattle, WA -- (SBWIRE) -- 11/13/2019 -- According to a new report titled 'Wood Activated Carbon Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2027,' published by Worldwide Market Report (WMR), the global wood activated carbon market was valued at US$ 785.80 Mn in 2017 and is anticipated to expand at a CAGR of 8.1% from 2018 to 2027. The global wood activated carbon market is driven by stringent regulations on mercury emission from power plants. Asia Pacific accounts for a major share of the global wood activated carbon market, due to rigid government regulations regarding atmospheric emission of hazardous substances, particulate matter, and greenhouse gases in various industries in the region.
Environmental Regulations on Mercury Emission from Power Plants to Drive Market:
Mercury is a toxic and corrosive material that is present in small amount in various gas and liquid streams. Power generation sources emit more than 70% of mercury in the air across the globe. Thermal and coal-fired power plants are key sources responsible for producing these hazardous gases. Wood activated carbon adsorption process is a suitable processes for removing mercury. It is an excellent carrier for various impregnates, as it physically reacts with the mercury and holds it within the adsorbent particles.
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Increase in governmental pressure to maintain the air quality and reduce mercury level is anticipated to boost the demand for wood activated carbon in the near future. Developed and developing economies, such as the U.S. and China, are implementing control strategies to reduce mercury emissions. For instance, the U.S. is estimated to reduce mercury emission to 18.2 tons by 2020, while China is likely to reduce emission by 77.5 tons by 2020.
Expansion of End-user Industries in Developing Economies to Create Opportunities:
Economic growth in countries in Asia Pacific and Middle East & Africa is creating lucrative opportunities for wood activated carbon manufacturers. The market in developing nations is expanding due to significant expansion of chemical, automotive, and pharmaceutical industries. Thus, manufacturers are shifting their focus away from developed economies.
Water pollution has become a major global concern, as industrial effluents, sewage waste, and agrochemicals are being discharged into water bodies. Advancements in chemical processing industries and drinking water technologies, especially in India, Brazil, GCC, and China, is likely to boost the demand for wood activated carbon. Wood activated carbon is a highly effective water filtration media that is used to remove contaminants from industrial and municipal wastewater and groundwater.
Volatility in Raw Material Prices to Hamper Wood Activated Carbon Market:
The global wood activated carbon market is prone to fluctuations in prices of raw materials such as saw dust, wood pellets, wood flour, and other pretreatment chemicals such as calcium chloride. Constant volatility in prices of raw materials is adversely affecting the wood activated carbon market. Additionally, these raw materials are consumed in other end-user industries.
The global wood activated carbon market has been segmented based on application and region. Based on application, the market can be divided into gas adsorption, removal of impurities, decolonisation, and others. Removal of impurities accounts for a dominant share of the market. Rise in demand for water treatment, which includes drinking water treatment, groundwater rehabilitation, treatment of service water, and wastewater treatment, to remove contaminants is expected to propel the demand for wood activated carbon during the forecast period.
Key Players profiled in the report include Cabot Corporation, Calgon Carbon Corporation, Carbon Activated Corporation, CarboTech AC GmbH, CECA SA, Donau Chemie AG, Fujian Zhixing Activated Carbon Co., Ltd., Ingevity Corporation, Kuraray Chemical Corporation Ltd., Osaka Gas Chemicals Co. Ltd., Oxbow Activated Carbon LLC, and Zhejiang Xingda Activated Carbon Co., Ltd. The top players (Kuraray Chemicals Co Ltd., Cabot Corporation, Ingevity Corporation, and Osaka Gas Chemicals Co. Ltd.) cumulatively accounted for more than 50% share of the market in 2017.
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