Activated Carbon Fiber (ACF) Market to exceed $1.4bn by 2027
Published Date: February 19, 2021 Authors: Kiran Pulidindi, Sayan Mukherjee
According to a new research report by Global Market Insights, Inc., the Activated Carbon Fiber (ACF) Market size is estimated to surpass USD 1.4 billion by 2027. Rising air pollution and stringent regulations adopted by several governments across the globe to limit air pollution is expected to drive ACF industry during forecast period.
Activated carbon fibers are porous carbons in fiber shape with aspect ratio higher than 10 and contain a well-defined porous structure with high adsorption capacity. These are usually produced from carbon fibers by heat treatment to achieve high porosity to fulfill the requirements of specific applications. The applications of activated carbon fiber in water treatment, air purification, chemical recovery sectors are the primary drivers of the global activated carbon fiber market. ACFs exhibit excellent properties such as high surface area, absorption capacity, rapid adsorption & desorption rates, and ease of fabrication.
Ongoing research on developments of ACFs are reshaping industry
The growing number of research projects in the field of ACF and its usage in several applications are expected to offer lucrative opportunities for activated carbon fiber market expansion. According to ScienceDirect publication the number of research articles published on the website are continuously rising with 237 research articles in 2015 to 417 research articles in 2020.
Several research organizations are actively involved in development of new processes and precursor materials for manufacturing ACF. Further, several industry participants, such as Jiangsu Kejing Carbon Fiber Co., Ltd. and others, are engaged in collaboration with universities to develop new carbon fiber technologies.
High processing costs of the ACF product is the key restraining factor for activated carbon fiber market. ACF processing involves multiple impregnation–carbonization cycles and techniques, such as chemical vapor infiltration for achieving appropriate densification and acceptable mechanical performances. The processing costs of ACF are a combination of fiber processing cost and activation cost, which is relatively higher compared other activated carbon. However, to reduce the cost of processing, manufacturers and researchers are using agricultural by-products in biomass form as raw materials to produce cost-effective activated carbon fiber.
Browse key industry insights spread across 188 pages with 163 market data tables & 31 figures & charts from the report, “Activated Carbon Fiber (ACF) Market By Material (Cellulose Based, Polyacrylonitrile (PAN) Based, Phenolic Resin Based, Pitch Based), By Application (Air Purification, Water Treatment, Chemical Recovery, Catalyst Carrier), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Pitch based ACF shall witness moderate growth owing to usage in water treatment applications
Pitch based ACF held around 24% share by volume in 2020 and expected to witness 5.6% CAGR from 2021 to 2027. The segment is showing good opportunities in the near future owing to the growing demand for this precursor based ACF in water treatment and removal of SOx and NOx from air.
The rising concern for environment protection across the globe along with growing awareness about water purification is expected to drive the material demand. Additionally, ongoing development of pilot R&D projects, such as development of high-rigid low-cost pitch-based carbon fibers by Yusung Telecom Co., Ltd., will further drive its usage in the activated carbon industry and support activated carbon fiber market growth.
Air purification application is showcasing considerable growth in the activated carbon fiber (ACF) market and expected generate over USD 420 million revenue by 2027, owing to stringent air pollution regulations adopted by several economies across the globe. The usage of ACF filters in passenger cars, roadside units, and other devices has resulted into excellent NOx and other pollutant adsorption. The usage of TOYOBO K Filter as air purifying filters in passenger cars and launch of pilot air filtration projects in emerging economies, such as Indonesia, among others, are driving the segment growth.
Asia Pacific activated carbon fiber (ACF) market will showcase significant growth owing to growing population, rising per capita income, and adoption of stringent wastewater regulations by several economies such as China, India, and others. The region expected to generate around USD 380 million revenue by 2027. The presence of several industry participants including MC Evolve Technologies Corporation, Kuraray Co., Ltd., Toyobo Co., Ltd., among others is driving the industry growth.
North America and Europe are among major consumers of ACF products across the globe. North America activated carbon fiber (ACF) market expected to generate over USD 530 million revenue. Stringent environment protection regulations along with a positive outlook for automotive and chemical industries are driving the activated carbon fiber market share.
Some of the key players in global activated carbon fiber (ACF) industry are Awa Paper & Technological Company, Inc., HP Materials Solutions, Inc., Jiangsu Tongkang Activated Carbon Fiber Ltd., Osaka Gas Chemical Co., etc. Collaboration with several environment saving projects, distribution network expansion, and R&D are among key strategies adopted by players to enhance their competitiveness in the activated carbon fiber (ACF) market.