Industry/ Innovation/ Related News:
September 27, 2018 – Xiaomi Corporation (China), an electronics company, launched seven new products across five line-ups in India including the Mi Band 3, Mi Home Security Camera 360, Mi Luggage, Mi TV 4 Pro, and the Mi Air Purifier 2S.
The Mi Air Purifier 2S, the successor to the Mi Air Purifier 2, features an OLED display that displays real-time air quality information. The new air purifier comes with a high-precision laser sensor and a 360-degree triple-layer filter with activated carbon that removes particles up to PM2.5. The purifier has greater app integration and working compatibility with Google Assistant and Alexa.
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The Global Activated Carbon Market is demonstrating a positively notable growth. The increasing population which results in increasing the demand for food, clean water, and air alongside the increased urbanization that demands clean and safe water increases usage of activated carbon in water purifiers. The major segment in the global market would be the water purifiers backed by the demand for the drinking water has been increasing tremendously owing to the pharmaceuticals and cosmetics industry.
Acknowledging the traction, the market perceives currently, Market Research Future (MRFR) in its recently published study report confirms that the Global Activated Carbon Market is estimated to demonstrate a voluminous growth by 2023, registering a striking CAGR during the assessment period (2018 – 2023).
Its usages as a reinforcing element have considerably contributed to the boost to the demand in the market. Its vast range of properties has enabled it to be adapted effectively in various sectors and diverse product portfolios.
Activated Carbon is produced from a number of carbon-rich organic materials such as charcoal, coconut shell, wood, coal, peat, and others. Hence, factors such as the price instability of the raw materials may restrict the growth of the Global Activated Carbon Market. Nevertheless, the increasing usages of Activated Carbon in the cosmetic industry are expected to support the market growth.
Global Activated Carbon Market – Segments
The study report is segmented into three key dynamics for the convenience: –
By Forms: Granular, Powdered, Pelletized, and Beads among others.
By Applications : Water Purification, Air Purification, Food & Beverage, Pharmaceuticals, Cosmetics, Mining, Chemical Purification, Soil and Remediation among others.
By Regions: North America, Europe, APAC and the Rest-of-the-World.
Activated Carbon Market – Regional Analysis
The Asia Pacific region holds the major share in the activated carbon market due to the growing demand from end-use industries such as electrical & electronics and others. Also, the rapid industrialization in emerging economies such as China, Japan, and India, provides impetus to the market growth in the region. The growing consumption of Activated Carbon in the region will encourage the manufacturers and investors to shift their production base to these countries during the forecast period.
The Activated Carbon Market in the North American region accounts for the next lucrative market, globally. The significant market growth attributes to the high demand from end-use industries such as food & beverage, chemicals, pharmaceuticals, and cosmetics & personal care. It is projected that the sub-segment granular is set to grow at a higher CAGR due to its superior conductive features such as UV protection, excellent abrasion resistance, and others.
The European region is set to observe a significant growth in the Activated Carbon Market due to increased demand fueled by the stringent regulations imposed on industrial and automotive emissions. Germany, Italy, and the U.K. are projected to lead the market of this region owing to rapid technological advancement and growing usage over the forecast period.
The Latin American regions such as Brazil, Uruguay, and Argentina are predicted to witness a rapid growth due to its increasing use of Activated Carbon in the automotive, aviation, electrical & electronics industries.
The market is projected to observe significant development in the Middle East & Africa region due to its growing consumption of Activated Carbon in batteries, fuel cells, and other sectors. Moreover, due to advancing technology, it is estimated that the Global Activated Carbon Market is to observe a significant growth in the market due to its increasing consumption.
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