Activated Carbon Fiber Market (2023 - 2028)
Overview
The activated Carbon Fiber Market is forecast to reach above USD 4.1 billion by 2028, growing at a CAGR of about 9% during 2023-2028. The market of Activated Carbon Fiber Market will see substantial growth in the coming years, fueled by increased demand from the water treatment industry. Solid materials with excellent properties such as high surface area and absorption power, fast adsorption and desorption rates and ease of manufacturing are activated carbon fiber (ACF). These characteristics make it especially ideal for air purification, water treatment, chemical recovery, and many others. In the coming years, stringent legislation implemented by regional regulatory bodies to facilitate water management practices would have a positive effect on the scale of the activated carbon fiber industry.
COVID-19 Impact
During the COVID-19 pandemic, the usage of activated carbon fiber in the medical industry has increased exponentially, due to its consumption in filter masks. The COVID-19 pandemic was one of the best opportunity factors that have increased consumption. Highly populated country such as India, and China, were the topped rank countries where the pandemic was high, due to this the demand for filter mask have also increased widely. As a result, the consumption of activated carbon fiber was in a balanced condition. This factor has somehow not heavily impacted the growth of activated carbon fiber.
Scope of the Report
The report: “Activated Carbon Fiber Acid Market – Forecast (2023-2028)”, by Vikrantash Group, covers an in-depth analysis of the following segments of the Activated Carbon Fiber Market.
By Raw Material: Synthetic (Pitch-based, PAN-based, Phenolic-based, Viscose-based, and Other Synthetics), and Natural.
By Application: Purification, Chemical Separation and Catalysis, Protective Clothing, Medical, Super Capacitors, and Others.
By Geography: North America (U.S, Canada, and Mexico), Europe (U.K, Germany, Italy, France, Spain, and the Rest of Europe), APAC (China, India, Japan, South Korea, and the Rest of APAC), South America (Brazil, Argentina, and the Rest of South America), and the Middle East and Africa.
Key Takeaways
● Increasing environmental issues linked to air and water emissions, combined with the superior properties of activated carbon fiber compared to powdered activated carbons (PACs) and granular activated carbons (GACs), are expected to fuel consumer demand during the forecast era.
● Business growth is likely to be impacted by issues about its raw materials, such as synthetic fiber, which is non-degradable and appears to bind to molecules of toxic chemical contaminants in wastewater, such as flame retardants and pesticides. Additionally, due to the release of toxic contaminants into the atmosphere, its processing causes permanent damage to the environment. Such a factor would potentially impede the growth of the market.
By Material – Segment Analysis
The activated carbon fiber industry is divided into synthetic-based, which includes pitch-based, pan-based, phenolic-based, viscose-based, and other synthetics, and naturally based on content. To prepare ACFs using chemical induction, natural and regenerated cellulosic fibers are used. C, H, ash and O are the main constituents of the product; however, the amount of C in natural cellulosic fibers is typically higher. The surface morphology and surface area of the substance play the main role in the application of adsorption. Due to their hollow structures, micropores on the surface, and wide surface area, the adsorption potential of ACF is greater. These features make it exceptionally suitable for applications such as water treatment, air purification, chemical recovery, and so on.
By End-Use – Segment Analysis
Activated carbon fiber markets are bifurcated into air purification, water treatment, chemical recycling, and catalyst carrier, depending on the end-user. In the air purification sector, the activated carbon fiber (ACF) industry is expected to produce promising gains in the coming years. Activated carbon fiber is commonly used to trap recognized allergens and impurities such as pollen, mold spores, lint, smoke, pet fur, common household pollutants, benzene, and other VOC compounds in conjunction with high-efficiency particulate matter (HEPA) philters. Water treatment is another key end-user segment of the industry that is expected to fuel the overall growth of the market in the coming years.
Geography – Segment Analysis
The global market was led by North America which accounted for the largest share in 2022. In the world, the United States is the world’s biggest economy. CKD affects more than one in every seven U.S. citizens, accounting for more than 15% of adults in the country. The number of patients has been rising in recent years. In fact, this situation raises the need for activated carbon fiber in dialysis applications. In addition, increasing advancements in the country’s chemical industry are in fact, raising demand for activated carbon fiber. The chemical industry is another major industry that drives the demand for activated carbon fiber. The United States, for instance, is the third-largest polypropylene manufacturer in the world. In addition, increasing investment in the country’s chemical industry is expected to fuel demand for activated carbon fibers further.
Drivers – Activated Carbon Fiber Acid Market
● High Adoption of Activated Carbon Fiber for water treatment activities.
Increasingly, activated carbon fiber is used for water treatment operations as it can achieve better absorption capacities and rates for toxins of low molecular weight. The substance can also be regenerated quickly, which is another additional advantage consistent with its use in multiple applications. Continuously rising demand for fresh water and its constraining demand have prompted wastewater disposal practices around the world. For instance, in the past 20 years, the amount of renewable water per capita has decreased by 22 percent. Quick industrialization and urbanization practices in developing economies have also culminated in the release of wastewater from factories and households into the atmosphere. As the release of water consists of toxic chemicals that seriously impact the atmosphere, these actions have a devastating effect on the climate. These trends will help generate lucrative opportunities for overall market growth in the forecast timeframe.
Restraints – Activated Carbon Fiber Acid Market
● Raw material price fluctuation may hamper the growth of the market.
In the coming years, high carbon fiber costs coupled with fluctuations in the prices of raw materials may impede overall product demand. However, current research in this area indicates that there is a wide variety of advances in the field of ACF in emerging technology to create a high-quality and energy-efficient ecosystem in the near future. These innovations will create sufficient prospects in the projected spell for the overall activated carbon fiber industry size.
Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Activated Carbon Fiber Acid market. In 2021, the market of Activated Carbon Fiber Acid has been consolidated by the top five players globally. Activated Carbon Fiber Acid Market’s top 10 companies are Anshan Sinocarb Carbon Fibers Co. Ltd, Kuraray Co. Ltd, Toyobo Co. Ltd, Hangzhou Nature Technology Co. Ltd, Awa Paper & Technological Company Inc., Evertech Envisafe Ecology Co. Ltd, HP Materials Solutions Inc., Jiangsu Tongkang Activated Carbon Fiber Co. Ltd, Osaka Gas Chemicals Co. Ltd, among others.
Developments
● In December 2022, Under the project “Circular Economy Program for the Automotive Carbon Fiber” (the Project), Asahi Kasei collaborated with the National Institute of Technology, Kitakyushu College, and Tokyo University of Science to develop the core technology for recycling continuous carbon fiber. The Project intends to put into practice a recycling system in which carbon fiber obtained from waste carbon fiber-reinforced plastic (CFRP) or carbon fiber-reinforced thermoplastic (CFRTP) is repurposed as CFRP or CFRTP for automobiles.
● In October 2022, China Petroleum & Chemical Corporation (Sinopec) has successfully created China’s first batch of big tow carbon fiber at its Shanghai production base, making the corporation the first in the country and the fourth in the world to have this technology.