Europe Activated Carbon Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
Europe activated carbon market is valued at USD 848.65 million in 2020 and is estimated to register a CAGR of 5% during the forecast period (2021-2026). A major factor driving Europe's activated carbon market is augmenting prominence for air pollution control (especially mercury removal). The UN Economic Commission for Europe Working Group on heavy metals is now preparing protocols on emission reduction for these pollutants. Mercury is considered a priority element in addition to cadmium and lead. This is expected to contribute to the market demand
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Medicine Segment to Drive the Market Growth
Activated carbon is used in hemodialysis and pharmaceutical applications. It is used to remove contaminants, like chlorine and chloramine, which can be harmful to the patients, from the water that is used for dialysis. Activated charcoal is commonly taken by mouth to treat poisonings. It is also used for intestinal gas, high cholesterol, hangovers, upset stomach, and bile flow problems during pregnancy.
In pharmaceutical applications, activated carbon is used to remove color and impurities from the intermediates and the final products. It is used in the purification and recovery of vitamins, steroids, pain killers, active pharmaceutical ingredients, antibiotics, and some other pharmaceutical products.
Germany to Dominate the Market
The German economy is the largest in Europe and the fifth-largest in the world. In 2019, the German economy grew by about 0.6%, which had been its weakest growth rate in the last five years. The economic growth of the country is affected by various factors, such as trade tensions leading to reduced exports, and recent government policies on debts and fiscal adjustments.
The German economy is the largest in Europe and the fifth-largest in the world. In 2019, the German economy grew by about 0.6%, which had been its weakest growth rate in the last five years. The economic growth of the country is affected by various factors, such as trade tensions leading to reduced exports, and recent government policies on debts and fiscal adjustments.
The country is in plans to stop the further downfall of the economy, due to the COVID-19 impact by announcing availability funds (of over USD 600 billion), to ensure growth and smooth functioning in various public sectors in the near future. According to the recent IMF forecasts, due to the outbreak of the COVID-19, the GDP growth of the country has fallen to -6% in 2020 and is projected to register a 4.2% growth in 2021 as a part of recovery.
The German water treatment technology market is the largest in Europe and is still growing at a considerable pace. The increasing water treatment activities, primarily in the northern region of the country, are boosting the demand for activated carbon. Currently, the country’s water supply and wastewater treatment sectors together account for about ~EUR 22 billion annually.
The German water treatment technology market is the largest in Europe and is still growing at a considerable pace. The increasing water treatment activities, primarily in the northern region of the country, are boosting the demand for activated carbon. Currently, the country’s water supply and wastewater treatment sectors together account for about ~EUR 22 billion annually.
Environmental protection and human health are considered extremely important in Germany. Germany has the highest wastewater reprocessing and the recycling rate in Europe with more than 96% of wastewater from private households or public facilities is diverted to sewage processing plants. Moreover, 10.07 billion cubic meters of wastewater is treated in public sewage treatment facilities, annually with just under 10,000 wastewater treatment facilities.
Competitive Landscape
The European activated carbon market is consolidated, with the top seven players accounting for around 70% of the market share. Major players in the market include Kuraray Co. Ltd, Cabot Corporation, Jacobi Carbons Ab (Osaka Gas Chemicals Co. Ltd), Ingevity, Desotec, Donau Chemie AG, and Carbotech AC GmbH, among others.
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