The global activated carbon fiber (ACF) market is poised to register lucrative proceeds through the coming years, owing to the rising requirement for various types of masks amid the COVID-19 pandemic. Various research studies related to the use of carbon fibers in facemasks have been instrumental in propelling industry growth.
Numerous industry manufacturers are formulating product launch strategies for the enhancement of product penetration. In this regard, a health technology firm, Philips’ global brand partner, AquaShield, was in news in April 2021 for the launch of filtration water bottles, dubbed Philips GoZero Everyday Insulated and Tritan Plastic.
The product has been designed with the help of an ACF filter, which affects the instant transformation of tap water into clean drinking water. This is done by the effective reduction of chlorine and other particles that might be present in tap water.
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Such steps are touted to drive the demand for activated carbon filter sheets through the projected period. On that account, the global activated carbon fiber (ACF) market share is anticipated to surpass USD 1.4 billion by 2027, cites the latest research by Global Market Insights Inc.
This rise is majorly attributed to the observance and formulation of stringent regulatory norms with regards to vehicle emissions at the global level. These norms have propelled the development of ACF filters, boosting product requirements across various air purification applications.
The setting up of new passenger car production units in the Asia Pacific, in addition to enhanced standard of living and increasing spending capacity are expected to drive the popularity of air purifying filters in passenger cars through the coming years.
Considering the latest market trends, the activated carbon fiber (ACF) market is witnessing an increase in product adoption for chemical recovery applications. Major concerns in the chemical industry comprise chemical and solvent recovery. The development of various solvent recovery equipment and strict government regulations have been instrumental in driving the demand for ACF products and carbon water filters over the analysis period.
By using ACF products, several organic solvents, comprising ketone, lipid, alcohol, benzene, and others, can be recycled and absorbed. Owing to these factors, chemical recovery applications are set to record a substantial CAGR of 6.8% between 2021 and 2027.
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Another prominent trend in the activated carbon fiber (ACF) market is the surging demand for phenolic resin based ACF products. The segment is estimated to produce a revenue of more than USD 280 million through 2027. These products are extensively utilized due to easy availability, ease of processing, lower costs, and low toxicity. When compared to pitch and other precursor products, phenolic resins have high thermal stability, good thermal insulation, and corrosion resistance. Resole and Novolak are among two prominent phenolic resins that are deployed in the production of ACF.
Speaking of the prospects of regional expansion, the activated carbon fiber (ACF) industry across Europe is expected to grow at a remarkable CAGR of nearly 6.2% between 2021 and 2027. The region is characterized by strict regulatory norms on air and chemical pollution and the presence of numerous passenger car manufacturing units. These factors are expected to impel the requirement for activated carbon fiber cloth and other products in the near future.
In a nutshell, rapidly increasing industrialization and the rising demand for water treatment owing to decreasing water level on the earth will positively influence activated carbon fiber (ACF) market growth through the estimated span.
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