Wood Activated Carbon Market to Undertake Strapping Growth During 2024
According
to a new report titled ‘Wood Activated Carbon Market: Global
Industry Analysis, Size, Share, Growth, Trends, and Forecast,
2018–2026,’ published by Transparency Market Research (TMR), 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
2026. 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.
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Report Overview @
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. 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. Control targets set by these countries
and characteristic properties, such as high surface area, fine
particle size, and open pore structure, are expected to boost the
demand for wood activated carbon in the removal process of flue gas
contaminants during the forecast period. Activated carbon injection
system is an effective technology which is gaining momentum in
controlling gaseous emissions. This technology is anticipated to
create significant opportunities for wood activated carbon
manufacturers in the near future. In 2011, Standard Carbon LLC
developed Stratocarb, a powdered activated carbon (PAC) manufactured
from wood, especially for flue gas mercury removal applications.
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. Usage of new technologies,
such as plasma processing for surface enhancement of wood activated
carbon, is gaining momentum. Surface medication with this technology
entails exposure of wood activated carbon to plasma under vacuum,
thus altering its textural properties. Regeneration of wood activated
carbon from industrial effluents is another technology that is likely
to reduce the dependency on virgin raw material sources in the next
few years. These factors are expected to create lucrative
opportunities to manufacturers in the near future.
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, such as fuel generation, wood
pulp, and synthetic resins, thereby affecting the supply and demand
of raw materials and overall production of wood activated carbon.
Stiff competition from substitutes, such as coconut shell, and
implementation of stringent regulations regarding deforestation are
key factors that are estimated to restrain the market during the
forecast period.
Removal
of Impurities Segment to Dominate Global Wood Activated Carbon Market
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, decolorization,
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.
Asia
Pacific Dominates Global Wood Activated Carbon Market
In
terms of region, Asia Pacific accounted for a major share of the
global wood activated carbon market in 2017. China, India, and ASEAN
are expected to create lucrative opportunities for manufacturers of
wood activated carbon in the near future due to rapid
industrialization and economic growth. Increase in the number of
water treatment plants installed to remove organic chemicals in water
and improve the taste and odor of potable water is boosting the
market in Asia Pacific. Implementation of stringent regulations on
mercury emission, by Environmental Protection Agency, and rise in
demand for efficient canisters for the automotive industry,
especially in the U.S. and Germany, are propelling the demand for
wood activated carbon in North America and Europe. The market in
Latin America and Middle East & Africa is expanding at a sluggish
pace; however, rise in industrialization in Brazil and increase in
government funding to provide better water technologies and
energy-efficient desalination, especially in GCC, are expected to
boost the market in these regions. These factors are driving the
global wood activated carbon market.
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High
Degree of Competition among Established Players
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. These companies consistently engage in
strategies, such as mergers & acquisitions, to expand their
capacity and product portfolios. For instance, in 2018, Kuraray
Chemicals Co Ltd. acquired Calgon Carbon Corporation, a leading
player in the wood activated carbon market.
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