Selbyville, Delaware, February 22, 2021 (GLOBE NEWSWIRE) – Based on Global Market Insights Inc., report, universe Activated Carbon Fiber Market (ACF) size was estimated at $ 922 million in 2020 and there is a slate to surpass it $ 1.4 billion by 2027, recording a CAGR of 6.8% from 2021 to 2027. The report provides a complete analysis of the key winning strategies, business trends, drivers & opportunities, key investment paths, competitive conditions, market estimates & size.
Strict government regulations relating to the global distribution of vehicles and the development of ACF filters drive the market demand of activated carbon fiber in air purification applications. The car sector is showing significant growth in emerging economies. The establishment of additional passenger car production facilities in the Asia Pacific region coupled with rising consumption capacity and improved quality of life in this region supports the demand for passenger car air purifier filters.
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A fast-growing industry and declining groundwater levels have encouraged water treatment. Contaminated water from industries and households contains a variety of pollutants, semisolid, liquids or gases, which, if released without treatment, can have a detrimental effect on the environment. ACF acts as an excellent medium for water purification. It can produce better adsorption capacities and levels for low molecular weight pollutants compared to currently used filter materials.
ACF based on phenolic resin was expected to generate more than USD 280 million in revenue by 2027. It has good thermal insulation, corrosion resistance, and high thermal stability compared to pitch and other precursor products. The phenolic resins are widely used due to lower costs, readily available, low toxicity, and ease of processing. Novolak and resole are among two main phenolic resins used in the manufacture of ACF.
Chemical recovery applications were expected to exhibit a moderate growth rate with a CAGR of approximately 6.8% from 2021 to 2027 in the activated carbon fiber (ACF) market segment. Overcoming chemicals and solving are some of the major concerns in chemical industry. Strict government regulations and the development of several solution recovery equipment in recent years have fueled the demand for ACF products. Several organic solutions, such as lipid, ketone, benzene, alcohol, and others, can be absorbed and recycled.
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The European ACF industry is showing a high growth rate with a CAGR of around 6.2% from 2021 to 2027. Strict regulations on chemical and air pollution along with a number of passenger car manufacturing facilities across the region are driving demand. for ACF results. Health issues are rising and growth requirements for water treatment equipment are further supporting the growth of the activated carbon fiber market.
Market share is very fragmented and key players in the activated carbon fiber industry including manufacturers such as MC Evolve Technologies Corporation, Kuraray Co., Ltd., Toyobo Co., Ltd., Hangzhou Nature Technology Co., Ltd., Awa Paper & Technological Company, Inc., HP Materials Solutions , Inc., Jiangsu Tongkang Activated Carbon Fiber Ltd., Osaka Gas Chemical Co., Ltd., OJSC – Open Joint Stock Company, Unitika Limited, Anshan Sinocarb Carbon Fibers Co., Ltd., Evertech Envisafe Ecology Co., Ltd, Gun Ei Chemical Industry Co. , Ltd., Jiangsu Kejing Carbon Fiber Co., Ltd., Jiangsu Sutong Carbon Fiber Co., Ltd.
Business players focus on geographic expansion, unions & benefits, strategic collaboration with water management and air pollution control projects, and long-term cost optimization strategies.
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