Activated Carbon Market Expected to Reach USD 15.18 billion by 2032, to grow at CAGR 9.32% from 2025-2032

Activated Carbon Market is expected to reach USD 15.18 billion by 2032. The industry is undergoing a transformation driven by increasing demand for durable, high-performance industrial components across various sectors.

Market to Hit USD 15.18 Bn by 2032

Activated Carbon Market was valued at USD 7.44 billion in 2024 and expected to expand at a compound annual growth rate (CAGR) of 9.32% from 2025-2032, reaching USD 15.18 billion by 2032. In North America Activated Carbon Market was valued at approximately USD 3.62 billion in 2023. North America is about 27.5% of market share. In Europe held a market share of 18.8% in the same year, equating to revenues of USD 3.61 billion in 2023. The companies contribute approximately 35% to 40% of total revenue of North America. Osaka Gas Co Ltd leading with 24% of market share of Japan’s Activated Carbon Market.

Leading market Players Fueling Industry Evolution

In 2023, Osaka Gas Co., Ltd. generated a revenue of approximately USD 14.5 billion, holding a market share of about 24% in the global market. This significant market share is largely attributed to the company’s diverse energy services, including natural gas distribution and energy solutions across Japan and other regions. Additionally, Kuraray Co., Ltd. reported a revenue of USD 5.4 billion in 2023, marking a 6% increase compared to the previous year. Kuraray’s growth is attributed to its strong presence in the chemical, synthetic fiber, and activated carbon industries. Meanwhile, Jacobi Carbons AB, a Swedish company specializing in activated carbon products, saw its market value reach USD 6.6 billion in 2024.

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Powder-activated carbon (PAC) apparel is dominated the largest by Type segment in the overall Activated Carbon Market in terms of value, in 2024

The global Activated Carbon Market was dominated by Powder-activated carbon in 2024. This market segment share is between 45%-50%. In 2024, the Powder-Activated Carbon (PAC) segment is expected to generate approximately USD 2.0 to 2.2 billion in revenue. This segment’s dominance is driven by its widespread applications in water treatment, air purification, food and beverage processing, and various industrial processes.

Water Treatment apparel is dominated the largest by Application segment in the overall Activated Carbon Market in terms of value, in 2024

Water treatment has the highest demand for activated carbon due to its essential role in removing impurities, contaminants, and toxins from drinking water, wastewater, and industrial effluents. The total revenue generated by the Water Treatment segment is estimated to be around USD 1.8 to 2.0 billion with market share at 42% in 2024.

North America is estimated to be the second-largest dominating the Activated Carbon market in terms of value, during the forecast period

the second-largest dominant region in the Activated Carbon Market. In 2023, Activated Carbon Market was valued at approximately USD 3.62 billion with a significant market share of 27.5%. the presence of key activated carbon manufacturers like Calgon Carbon Corporation (a subsidiary of Kuraray), as well as other industry players such as Cabot Corporation and Carbon Activated Group, contribute to North America’s significant market share.

Asia Pacific is estimated to be the largest dominating the Activated Carbon market in terms of value, during the forecast period

The Asia Pacific region dominated in terms of revenue in 2023, accounting for more than 39.26% of the total market.  Countries in the APAC region, such as China and India, are undergoing rapid industrialization, leading to increased demand for activated carbon in industries such as chemicals, pharmaceuticals, and mining.

Activated Carbon Market Competitive Landscape

Osaka Gas Co., Ltd: Company’s generated a revenue of approximately USD 14.5 billion, holding a market share of about 24% in the global market. In February 2025, Osaka Gas signed a 15-year sales and purchase agreement with the Abu Dhabi National Oil Company (ADNOC) to supply liquefied natural gas (LNG) from ADNOC’s Ruwais project.

Kuraray Co., Ltd.: Company’s revenue of USD 5.4 billion in 2023 and it operates globally, producing activated carbon through subsidiaries such as Kuraray Chemical Co., Ltd. in Japan, Cenapro Chemical Corporation in China, and Kuraray Chemical (Ningxia) Environmental Industry Co., Ltd. in the Philippines. On January 22, 2025, Kuraray America, Inc. signed a trademark agreement for Vectran fiber, expanding its intellectual property portfolio.

Jacobi Carbons AB: Company specializing in activated carbon products, saw its market value reach USD 6.6 billion in 2024. Effective April 1, 2025, Jacobi will implement a 15-20% price increase across all coconut shell-based activated carbons, responding to market dynamics and operational costs.

To know the most attractive segments, click here for a free sample of the report: https://www.stellarmr.com/report/req_sample/Activated-Carbon-Market/298 

Emerging Trends in the Activated Carbon Market

• The activated carbon market is experiencing key emerging trends, particularly driven by sustainability and technological innovation. Companies like Kuraray, Jacobi Carbons, and Osaka Gas are increasingly focusing on sustainable production methods, such as Jacobi’s investment in sustainable coconut shell charcoal production and Kuraray’s commitment to science-based emissions targets.
• There is a growing demand for carbon-neutral solutions in water purification, air filtration, and industrial processes. Additionally, companies are expanding their service offerings, such as Jacobi Carbons establishing its first Reactivation Service Center in Spain. These businesses are also adjusting prices in response to rising operational costs.
• Overall, with the increasing emphasis on green technologies and customer-centric services, these companies are positioning themselves to lead in the global activated carbon market.

Conclusion

• The global Activated Carbon Market is projected to grow significantly, with an estimated Compound Annual Growth Rate (CAGR) of 9.32%, reaching USD 15.18 billion by 2032. North America and Asia Pacific will remain key contributors, holding substantial market shares, with North America at 27.5% and Asia Pacific dominating with over 39% in 2023.
• The Powder-Activated Carbon (PAC) segment leads the market, generating approximately USD 2.0 to 2.2 billion in revenue, with water treatment being the primary application driving demand.
• Companies like Osaka Gas Co., Ltd., Kuraray Co., Ltd., and Jacobi Carbons AB are significantly influencing market dynamics, contributing to sustainability efforts and expanding service offerings. These companies are poised to lead the market with their innovative technologies, robust revenues, and growing focus on environmentally friendly solutions.

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