According to the research report titled ‘Asia Pacific Activated Carbon Fiber Market Forecast 2027 By Material Based, By Application, Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with Market Study Report LLC, Asia Pacific activated carbon fiber market is expected to accumulate a valuation of USD 381.4 million by the end of the forecast period 2021-2027.
As per the findings of the report, escalating investments by authorities for water and air treatment projects, increasing environmental concerns such as water and air pollution, along with rising requirement of potable water among consumers in the residential sector are catalyzing Asia Pacific activated carbon fiber market growth.
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Further, rise in the number of manufacturing plants across various industry verticals like electronics, chemical, and pharmaceutical coupled with stringent government directives aimed at bringing down carbon emission levels are supporting the market development.
For the unversed, activated carbon fibers (ACFs) remove impurities from commercial and industrial waters, and can even be used in residential water storage systems. They can also create a better uniform pore structure than any other type of activated carbons.
In terms of material type, polyacrylonitrile (PAN) based segment held approximately 30.4% of market share in 2020 and is slated to grow considerably in the upcoming years. This can be ascribed to the unique features of PAN that makes it an ideal for producing ACF. PAN-based ACF is utilized in various wastewater treatment projects and has applications as catalyst carrier, capacitor, and refrigeration system.
With respect to application scope, air purification segment of Asia Pacific activated carbon fiber market is poised to record 7.3% CAGR through 2027, accreditable to proliferating number of companies establishing their factories in the region.
Parallelly, catalyst carrier segment is slated to grow momentously in the ensuing years. This can be attributed to ACF acting as a better catalyst than granular activated carbon as it comparatively has a greater adsorption rate and larger capacity.
Awa Paper & Technological Company Inc., Gun Ei Chemical Industry Co., Ltd., Jiangsu Sutong Carbon Fiber Co. Ltd., Kuraray Co., Ltd., Osaka Gas Chemicals Co., Ltd., Unitika Ltd, Toyobo Co., Ltd., MC Evolve Technologies Corporation, Anshan Sinocarb Carbon Fibers Co., Ltd., and Hangzhou Nature Technology Co., Ltd. are among the leading companies in Asia Pacific activated carbon fiber market sphere.
Questions and Answers: Asia Pacific Activated Carbon Fiber Market
1: What are the growth stimulants of Asia Pacific activated carbon fiber industry?
Answer: Escalating investments by authorities for various water and air treatment projects, increasing environmental concerns such as water and air pollution, and rising requirement of potable water among consumers in the residential sector are catalyzing the industry growth.
2: How is air purification application contributing towards Asia Pacific activated carbon fiber market remuneration?
Answer: Proliferating number of companies establishing their factories in APAC has boosted demand for air purification and subsequently enhanced the industry remuneration scope.
3: Which are the major contenders in Asia Pacific activated carbon fiber market sphere?
Answer: Major companies in the marketplace are Awa Paper & Technological Company Inc., Gun Ei Chemical Industry Co. Ltd., Jiangsu Sutong Carbon Fiber Co. Ltd., Kuraray Co. Ltd., Osaka Gas Chemicals Co. Ltd., Unitika Ltd., Toyobo Co. Ltd., MC Evolve Technologies Corporation, Anshan Sinocarb Carbon Fibers Co. Ltd., and Hangzhou Nature Technology Co. Ltd. among others.
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