Gulf Cooperation Council Activated Carbon Market 2022
GCC activated carbon market is poised to be worth US$ 400 Mn by the year 2031. GCC activated carbon market is slated to witness a CAGR of 8.5% between 2021 and 2031. The ongoing trend is that of key players inking agreements with various entities all across the US for supplying their DARCO Hg products, so as to do away with mercury from coal-fired power plants’ flue gas.
The activated carbon market in GCC (Gulf Cooperation Council) regional union is set for a robust growth outlook at 7.8% CAGR during 2019 – 2029. As suggested by a new Persistence Market Research (PMR) study, widening application base in air and water purification projects will primarily drive the GCC activated carbon market.
With rising concerns over public health, the governing bodies have implemented stringent regulations on environmental purification procedures. This remains a massive opportunity for activated carbon manufacturers.
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Key Companies-
- Cabot Corporation
- Donau Carbon GmbH
- JACOBI CARBONS GROUP
- Calgon Carbon Corporation
- Fujairah Chemical
- NTC Dubai
- DUBI CHEM Marine International
- Veolia Water SA
- Carbon Activated Corporation
Stringent Regulations Propelling Demand for Activated Carbon Across GCC
Owing to rising environmental hazards, governing bodies have imposed strict norms on mercury and other toxic gas-emitting power plants. Furthermore, a majority of countries in the Middle East are taking necessary measures to control mercury emissions. Moreover, petroleum, manufacturing, and chemical plants are in need of air treatment processes. All these factors combined are fueling the demand for activated carbon, which plays a vital role in air purification.
The need for water purification is equally higher, thus further escalating the demand for activated carbon in various industries. Owing to rising demand for usage in these environmental procedures, the GCC activated carbon market is projected to witness healthy growth during the forecast period.
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Key Takeaways from the Detailed Activated Carbon Market Study:
- Granular activated carbon will account for a market share of 45% by 2029, with extensive applications in mining industry.
- Demand for liquid phase activated carbon is projected to grow at a CAGR of 7.6% through 2029, with a majority of adoption in water treatment and food & beverages industries.
- Owing to the significant presence of water treatment industry, KSA (the Kingdom of Saudi Arabia) represents nearly 1/3rd of the overall GCC market. UAE (United Arab Emirates) will also prevail as a lucrative market for activated carbon manufacturers.
- Key players are emphasizing new product developments and strategic collaborations.
- Water treatment sector will remain the top end-use application area.
“Rising exploration in purification methodologies revolving around diverse chemical and material industries boost the growth of activated carbon market. Seeking effective and economic activated carbon solutions would contribute to environmental sustainability, thereby benefiting the future industrial and commercial aspects,” says a PMR Analyst.
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Key Questions Answered in Report
- How much is the GCC activated carbon market worth?
- What will be the demand outlook?
- What was the last 5 year market CAGR?
- What are the key trends for GCC activated carbon market?
- What is driving the demand for GCC activated carbon?
- What is the market share of top 5 players?
- What are the top 2 countries driving demand?
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