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Global Activated Carbon Fiber Market worth $350 million by 2027

Global Activated Carbon Fiber Market worth $350 million by 2027

Activated Carbon Fiber (ACF) is a fiber form of activated carbon. ACF is a new advanced material made of cellulosic, PAN, phenolic, and pitch fibers that differs from traditional granular or powder-activated carbon. Compared with granular activated carbon (grain diameter 500–5000 μm), ACF has a much smaller diameter and a much larger surface area. Because the pore diameter of ACF is approximately 15 to 20Å and most of the pores are micropores, the rate of adsorption and desorption is rapid. Furthermore, it has excellent adsorption in low concentrations. ACF does not fly apart like powder-activated carbon (grain diameter 5–30 μm), and it is simple to produce in a variety of forms such as paper, textile, and felt.

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The global activated carbon fiber market is estimated to be USD 232 million in 2022 and is projected to reach USD 350 million by 2027, at a CAGR of 8.5% between 2022 and 2027. The market's growth is attributed to the expanding chemical industry, water treatment plants in developing nations, and the demand for air purification due to high pollution loads emitted into the atmosphere.

The major drivers for the activated carbon fiber market include Increasing demand for drinking water purification and treatment of wastewater, rising pollution demanding air purification and pollutant-free air, High production cost and fluctuating raw material availability, Adverse environmental impact of ACF production can restrain the market from growing. Some of the opportunities for manufacturers include Increasing demand for storage of natural gas and other energy gases such as methane. The major challenges faced by the manufacturers are cost-effective production and regeneration process and need for environment-favourable process of production. The global activated carbon fiber market is estimated to be USD 232.9 million in 2022 and is projected to reach USD 350.3 million by 2027, at a CAGR of 8.5% between 2022 and 2027.

Companies operating in the activated carbon fiber market have strengthened their position by adopting expansions, partnerships, agreements, new product/technology launches, joint ventures, contracts, and mergers & acquisitions from 2018-2022. For instance, in March 2022, Toyobo Co., Ltd. and Mitsubishi Corporation (MC) signed a joint venture agreement to plan, develop, manufacture, and sell functional materials. The new company will operationalize from 2023 onward.

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Toyobo Co., Ltd. (Japan), Kuraray Co., Ltd. (Japan), Unitika Ltd. (Japan), Daigas Group (Japan), Auro Carbon & Chemicals (India), Hangzhou Nature Technology Co., Ltd. (China), Eurocarb Products Ltd. (UK), China Beihai Fiberglass Co., Ltd. (China), Bio-Medical Carbon Technology Co., Ltd. (Taiwan), CeraMaterials (US), and HPMS Graphite (US) are some of the key players in the activated carbon fiber market.

Toyobo Co., Ltd. is one of the major key players in the activated carbon fiber market. The company primarily designs, manufactures, and distributes air filter products using activated carbon fiber. The company operates through five business segments: Films and Functional Polymers, Mobility, Lifestyle and Environment, Life Science, Real Estate and Other Business. Activated carbon fiber-equipped filters offered by the company are used in a wide range of applications, such as air purification, dust removal, indoor air decontamination, and deodorization. The company has a wide presence in Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. The company provides activated carbon fiber-based products from the Films and Functional Polymers segment.

Kuraray Co., Ltd. Is one of the largest manufacturers of functional resins, chemical products, and activated carbon and high-performance membranes and systems. Kuraray started producing activated carbon fibers in 1980. The company has a presence across Asia Pacific, North America, and Europe owing to which it has become one of the major global suppliers of activated carbon fibers. The company operates primarily through two business segments: Vinyl Acetate, Isoprene, Functional Materials, Fibers and textiles, and Other Business. Under the Fibers and Textiles segment, the company provides activated carbon fiber products. It serves automotive, defense & security, medical, food & agriculture, energy, chemical, electronics, and semiconductor markets.

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Unitika Ltd. is a provider of polymer and performance materials. The company is a prominent player in the performance materials market and is a key supplier of premium quality activated carbon and industrial fibers. AD’All, an activated carbon fiber supplied by Unitika Ltd., is mostly used in air and water purification and deodorization applications. The company functions through four business segments: Polymers, Performance Materials, Fibers & Textiles, and Other. The company’s Performance Materials segment is keen on fulfilling the growing need for activated carbon fibers.

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