Turkey's Activated Carbon Market Set for Robust 8.95% CAGR Growth from 2024 to 2030

The Turkey Activated Carbon Market size was valued at USD 39.88 thousand in 2023 & is expected to reach USD 73.81 thousand by 2030. Along with this, the market is estimated to grow at a CAGR of around 8.95% during the forecast period, i.e., 2024-30, cites MarkNtel Advisors in the recent research report. In Turkey, one of the major drivers for the growth of the market has been the increasing requirement of water & wastewater treatment in the country. The recent increment in demand for freshwater and the rising discharge of wastewater from different industrial & commercial sectors has been driving the requirement for activated carbon for water treatment purposes.

Also, currently, there has been a substantial rise in mining activities across Turkey, which has been intensifying the discharge of wastewater from these facilities. Moreover, the mining sector requires freshwater for a variety of procedures, owing to which, they often treat & purify incoming water as well to their facilities. Nonetheless, this increment in wastewater production across the mining sector coupled with growing demand for freshwater, has been driving the need for activated carbon across Turkey in a few years.

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Furthermore, the growth of coal mining in Turkey to fuel power plants has become a prominent trend for the Activated Carbon Market expansion. This is primarily due to coal being a cost-effective energy source compared to alternatives like natural gas or renewable energy in the short term. Also, Turkey's geographic position & industrial growth necessitate reliable and abundant energy sources, making coal a pragmatic choice despite global shifts towards cleaner energy solutions.

Hence, as coal consumption rises to fuel new and existing power plants, the need for activated carbon becomes crucial, and would grow further in the coming years as well, as they are used primarily for flue gas treatment, further states the research report, “Turkey Activated Carbon Market Analysis, 2024.”

Turkey Activated Carbon Market Segmentation Analysis

Water Treatment Gaining Prominent Market Share in the Market

Based on the application segment, the market is further bifurcated into, Water Treatment, Air & Gas Purification, Food & Beverage, Metal Extraction, Medical & Pharmaceutical, and Others (Solvent Recovery, etc.). Out of these, Water Treatment has gained a prominent market share during the past few years. The major factor besides the growth of the water treatment facility was the growing number of residential unit construction in the country that was improving the demand for freshwater.

Also, the country has witnessed rapid urbanization leading to a prominent shift of population from rural to urban areas. Hence, this shift has resulted in an increasing need for freshwater in urban cities, which has prompted municipal corporations to establish new water treatment facilities. Hence, as water treatment capacity is rising in the country, the demand for activated carbon has also been improving.

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Coal has become a Prominent Source of Activated Carbon Production

Based on the source segment, the market is segmented into Coconut, Wood, Coal, and Others (Peat, Nutshell, etc.). Among them, Coal has been one of the prominent and cost-effective sources for the manufacturing of activated charcoal. Their affordability has made them a preferred option for activated carbon among a large number of end users. Moreover, the performance of activated carbon produced from coal is quite high for water & wastewater treatment, as they have a high surface area needed for the removal of odor and impurities from the water.

Also, coal-derived activated carbon has been much more efficient in air purification and helps considerably in removing pollutants and impurities from the air. Hence, they are actively installed across industrial facilities near emission sources for the purification of discharged gas at these sites. In addition, these coal-derived activated carbon are projected to continue dominating the market owing to their higher efficiency, and cost-effectiveness.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Haycarb Plc, CarboTech, Chemviron, Donau Carbon, Jacobi Carbons, Carbon Activated Corporation, Western Carbon & Chemicals, Pame Carbon, Aktif Karbon Turkiye, Huamei Activated Carbon Co., Ltd., and Others, are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the Turkey Activated Carbon Market?
3. What key factors would propel and impede the industry across the country?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping across various regions?
6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

 

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