The chemicals and materials vertical would be witnessing an eco-friendly transformation in the upcoming period. Plastic waste recycling would be one amongst these green initiatives. This would also be an era of materials informatics, i.e. machine learning would be employed to the materials’ development, which would, apart from improving on the cost of R&D, also provide better agility.
Synthetic biology would be another trend ruling the roost, as it would facilitate more flexible distribution of the chemicals and also help in exploration of novel markets, that too, at lower costs. Persistence Market Research is into tabling of these details of the chemicals and materials vertical through its team of riveting analysts and consultants.
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.
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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.
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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