Increasing demand for activated carbon in water treatment and air purification procedures is enabling the activated carbon market to proliferate in the Gulf Corporation Council (GCC) region. Activated carbon possesses higher benefits over the existing products for water and air filtration. Its highly porous elemental characteristics make it a highly preferred choice in the oil & gas industry for applications such as spill clean-up, pilot testing, and groundwater remediation.
Increasing Demand in Water Filtration and Air Purification Applications to Boost Market Growth
Water filtration processes across GCC are expected to take advantage of activated carbon’s natural characteristics and employ it to eliminate volatile organic compounds (VOCs) and chlorine from drinking water. Favorable government initiatives regarding awareness about health hazards of impure water are significantly contributing towards market growth.
Additionally, stringent regulations are demanding more efficient air filtration processes. Activated carbon, being a competent element in removing VOCs, is gaining traction in air filtration procedures, thereby driving the market during the forecast period.
KSA and UAE to Dominate the Activated Carbon Market
Kingdom of Saudi Arabia (KSA) and United Arab Emirates (UAE) collectively hold over 60% revenue share in the GCC activated carbon market. Stringent regulations regarding pollution are increasing demand for activated carbon in medical & pharmaceuticals applications in UAE, and carbon emission regulations are fueling demand in the KSA’s automotive industry.
Invigorated by this necessity, KSA and UAE are projected to witness a rise in market value at robust CAGRs throughout the projection period. Backed by surging applications in automotive & transportation industry, Kuwait is projected to remain a highly lucrative regional market for activated carbon manufacturers.
Liquid Phase Accounts for 2/3rd of Applications
Activated carbon in liquid phase accounts for 2/3rd of the activated carbon applications. While water filtration persists being a significant end-use area, activated carbon is finding applications in food & beverages, and pharmaceuticals as well. In food & beverage industry, activated carbon is being used for processes ranging from de-coloration of liquid syrups to purification of edible oils.
Likewise, in pharmaceuticals industry, the liquid phase activated carbon will witness growth owing to incorporation in pharmaceuticals preparations, and purifying feed water. Whereas, activated carbon in gas phase is finding applications in automotive & transportation, solvent recovery, and industrial air purification.
Competitive Landscape of Activated Carbon Market
The GCC activated carbon market is fairly fragmented with all the leading, prominent, and emerging players sharing the market in near-to-equal proportions. While the top nine players collectively account for 38% of the market value, other domestic players have captured the remaining market. To sustain the positive growth trajectory of market, players are striving to provide high-quality products in collaboration with other industries.
In March 2020, Fujairah Chemical, a leading player has initiated manufacturing and supply of highly porous and adsorptive activated alumina balls. On the merger front, Donau Carbon GmbH, acquired Standard Purification, a producer of activated carbon products for its U.S. activities.
Growing concern over environmental purification procedures is playing a catalyst in increasing the demand for activated carbon and driving the associated industries to seek economic and effective methodologies. Exploring various effective and low-cost activated carbon variants may contribute to environmental sustainability and offer benefits for commercial as well as industrial applications in future.
GCC Activated Carbon Market – Report Scope
Persistence Market Research (PMR) recently published a study report on the GCC activated carbon market. The report provides detailed valuation of key market dynamics such as drivers, trends, opportunities, and restraints, along with detailed information about the GCC activated carbon market structure. This market research report presents exclusive facts and figures about how the GCC activated carbon market which is expected to expand over the forecast period.
Key indicators of market growth, such as value chain analysis, compounded annual growth rate (CAGR), and year-on-year (Y-o-Y) growth of the market are explained in PMR’s study in a comprehensive manner. This information can help readers to understand the quantitative development projections of the GCC activated carbon market over the forecast period.
The study is relevant for stakeholders in the GCC activated carbon market, as well as manufacturers, distributors, suppliers, and investors, as it can help them understand applicable strategies to grow in the market. Stakeholders, investors, industry experts, researchers, and journalists, as well as business researchers in the GCC activated carbon market can leverage the information and statistics presented in PMR’s research report.
The report includes facts & figures related to the macroeconomic factors that are impacting the growth of the GCC activated carbon market. The study also offers actionable insights based on the future trends in the GCC activated carbon market. Furthermore, country level players and new entrants in the GCC activated carbon market can also use the information presented in this report to make business decisions and gain momentum in the market.
Key Segments of GCC Activated Carbon Market
PMR’s study on the GCC activated carbon market is divided into four significant segments- form, application and country. This report offers comprehensive data and information about the important market dynamics and growth parameters related to these categories.
Key Questions Answered in PMR’s GCC Activated Carbon Market Report
GCC Activated Carbon Market: Research Methodology
In PMR’s research report, exclusive research methodology is utilized to conduct comprehensive research on the development of the GCC activated carbon market and reach conclusions on the future growth factors of the market. In this research methodology, secondary and primary research is utilized by assistant analysts to ensure precision and reliability of the conclusions.
Secondary resources are referred by analysts during the evaluation of the GCC activated carbon market study, and comprise of the facts and figures from the World Bank, OEM websites, government websites, white papers, trade journals, and external and internal databases. Analysts have thoroughly interviewed several industry experts, such as sales supervisors, sales operation managers, product portfolio managers, senior managers, market intelligence managers, marketing/product managers, and production managers to provide insightful information.
Comprehensive information acquired from primary resources and secondary resources is validated from companies operating in the market to make PMR’s projection on growth prospects of the GCC activated carbon market more accurate and reliable.