Wood Activated Carbon Market to Perceive Substantial Growth During 2025
Although
regional players are many and currently occupy over a quarter of the
global volume share for wood activated carbon, this market is
primarily consolidated. The top three players in 2017 – Calgon
Carbon Corporation, Cabot Corporation, and Ingevity Corporation –
collectively held nearly half of the market’s total value at the
time.
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Owing
to this high concentration of market shares held by a few prominent
players, the competitive intensity is very high between them. Their
rivalry is also likely to affect the growing number of small and
medium scale companies coming up in countries such as China.
According
to a new research report released by Transparency Market Research,
the overall threat of new entrants in the global market for wood
activated carbon is expected to remain medium to high over the coming
years. Product differentiation is low and the demand for wood
activated carbon is escalating quickly, thus allowing a positive room
for new entrants to procure distribution contracts in.
Armed
with a CAGR of 9.5% in revenue within a forecast period from 2017 to
2024, the global market for wood activated carbon is expected to
generate US$245.6 million by 2017, which is expected to reach
US$463.6 million by the end of 2024.
The
strong ability of wood activated carbon to separate particulate
matter, lead, and other harmful elements from both liquids and gases
makes it exceptionally useful in the removal of impurities from
substances. This application segment is expected to generate US$141.8
million for wood activated carbon manufacturers by the end of 2024.
APAC
Likely to Retain Leading Rate of Wood Activated Carbon Consumption
By
the end of 2024, Asia Pacific is expected to generate US$197.18
million in revenue from the consumption of wood activated carbon.
This region is going very big on the use of wood activated carbon for
removal of impurities and decolorization. At the same time, this
region is also showing a very high demand for wood activated carbon
for the purpose of gas absorption. The share in volume used up by
Asia Pacific is expected to increase quite a bit over the coming
years.
North
America holds the second place in terms of demand for wood activated
carbon. The demand by this region is expected to increase
significantly over the coming years due to a growing use of impurity
removal methods that are effective and not harmful to the
environment. This region is focusing heavily on the implementation of
gas absorption techniques to reduce the emission of vehicles.
Environmental
Regulations Bear Down on Mercury Emissions, Spur Wood Activated
Carbon Demand
“Over
70% of the mercury emissions globally come from power plants, with
coal-fired and thermal power plants being the key culprits. Almost
all governments are now cracking down on the emission of mercury and
other harmful particles by power plants and the manufacturing
industry. This increasing pressure to maintain cleaner air quality
has pushed wood activated carbon into favor with most industries,”
states a TMR analyst.
Both
the U.S. and China are two major countries responsible mercury
emissions. Both nations have agreed to adhere to strict emission
norms and significantly reduce mercury levels in the atmosphere by
2020. This puts both countries at the top of the charts for wood
activated carbon consumption.
Saw
Dust Prices Surge Affects Wood Activated Carbon Production
The
key raw materials for producing wood activated carbon include a slew
of pre-treatment chemicals, wood flour, wood pellets, and saw dust.
Of these, saw dust, wood pellets, and wood flour are usually derived
as byproducts of wood processing.
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The
complication lies in the demand for these raw materials being equally
high in other industries such as fuel generation and the
manufacturing of synthetic resins and wood pulp. With a large number
of companies holding a high demand for saw dust and other wood
processing byproducts, the dependency of wood activated carbon
manufacturers on saw dust becomes increasingly precarious, hindering
this market’s growth rate.
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Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com
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