Europe Wood Activated Carbon Market In-Depth Analysis and Forecast report By 2028

Posted on 2022-09-13 by researchinsights in Industrial // 0 Comments

Europe Wood Activated Carbon Industry Overview

The Europe wood activated carbon market size was valued at USD 36.3 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.1% from 2021 to 2028.

The market is anticipated to be driven by the high efficacy of the wood activated carbon in removing impurities due to its superior adsorbing properties. The market is anticipated to be driven by the high demand from water and air filtration applications and the food and beverages industry. The product is used as a water and air purifier filter and a decolorizing agent in the food and beverage industry. The increased demand for air purifiers due to increasing awareness regarding health concerns can exponentially drive the product demand over the forecast period.

Gather more insights about the market drivers, restrains and growth of the Europe Wood Activated Carbon Market

In Germany, the market for wood activated carbon is expected to witness a CAGR of 7.1% from 2021 to 2028. The rising use of powdered activated carbon is in water treatment operations is likely to fuel the growth over the forecast period. Powdered activated wood carbon is a non-toxic fine black powder. It is a tasteless compound with a robust adsorption ability compared to granular activated wood carbon; it poses a greater capacity to remove contaminants and exhibit faster kinetics.

The rising level of air and water pollution has resulted in the implementation of strict waste treatment and pollution control norms by governments across the world. These norms and regulations mandate the industries to adopt environmental-friendly, efficient water treatment, and disposable methods. In Europe, the Wood Activated Carbon Producer Association has been established to represent major producers and monitor compliance with government norms and regulations.

The companies involved in the manufacturing of wood-activated carbon are using raw materials such as waste and agriculture by products to produce activated carbon owing to stringent environmental protection regulations. Furthermore, rebates on taxation policy, multiple subsidies, and government expenditure on wastewater treatment are expected to support the market in the coming years.

The market was moderately impacted by the COVID-19 in 2020, owing to the supply-demand restrain in key economies. Furthermore, the pandemic has impacted several end-use industries, which, in turn, has influenced the market growth. However, key end-use applications including water and air filtration, food and beverage, cosmetics, animal nutrition, and automotive are anticipated to fuel the product demand on account of the stability of these industries. Lack of ability to procure raw materials and ingredients from third parties has imposed major challenges and is likely to affect both operational and financial performance of the company.

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