Wood activated carbon market to witness a double digit CAGR of 10% over 2017-2024, Europe to stand as a major growth ground

Sellbyville, DE -- (SBWire) -- 10/23/2018 --GMI presents a most up-to-date research on "Wood Activated Carbon Market – Global Industry Analysis, Size, Share, Product (Powdered, Granular), Growth Potential, Trends Statistics, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, South Africa, GCC) and Forecast 2018 – 2024".

Wood Activated Carbon Market Size will surpass USD 500 million by 2024; according to a new research report by Global Market Insights, Inc.

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The changes in regulatory norms regarding the control of harmful gas emission is the key factor for industry growth in forecast timeframe. Nearly 80% of mercury and other harmful gas emission comes from the manufacturing units, mines, and other thermal power plants and almost all regional governments are cracking down on this issue.

Increasing pressure from the government for maintaining the air quality and reducing the mercury level will spur the wood activated carbon market demand in the near future. This is due to the superior features which include low cost, ease of availability, extreme purity, and high filtration strength. As compared to other regions, Asia Pacific led by China and India, and Europe are on the top of the list for significant product consumption owing to presence of myriad manufacturing units.

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The European Union Biocidal Products Regulation (EU BPR 528/2012), for instance, has recently revised its norms where it has mandated activated carbon manufacturers to supply silver impregnated activated carbon that is in compliance with the improvised regulations. Allegedly, the European government has taken this initiative in a bid to ensure that downstream operators make authentic anti-microbial and anti-bacterial claims about their commercialized products.

Not to mention, these kinds of regulatory improvisations and standardizations have played a pivotal role in shaping the regional wood activated carbon market dynamics. Add to it, the growing number of manufacturing units across the European belt has further upscaled the product demand for recycling, decolorization, adsorption and purification purposes. Having said that, it is prudent to mention that decolorization and purification are claimed to be the fastest growing application domains of wood activated carbon industry and are slated to continue their percentage of authority over the ensuing years.

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The major producers in the wood activated carbon industry include Kuraray, Haycarb, Ingevity Corporation, Chemtex, D&R Corporation, PT. Rodaniaga Kokoh Nusantara and others.

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.