Asia: Activated Carbon Market 2024

Activated Carbon Market Size in Asia

After four years of growth, the Asian activated carbon market decreased by -2.2% to $X in 2022. Over the period under review, consumption, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the market value increased by 8.4% against the previous year. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Activated Carbon Production in Asia

In value terms, activated carbon production stood at $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the production volume increased by 21% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Activated Carbon Exports

Exports in Asia

In 2022, shipments abroad of activated carbon increased by 4% to X tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 31%. The volume of export peaked in 2022 and is likely to continue growth in the near future.

In value terms, activated carbon exports soared to $X in 2022. Total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +41.8% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of 29%. The level of export peaked in 2022 and is likely to see steady growth in the near future.

Exports by Country

China represented the main exporting country with an export of around X tons, which recorded 44% of total exports. It was distantly followed by India (X tons), the Philippines (X tons) and Sri Lanka (X tons), together achieving a 43% share of total exports. The following exporters - Indonesia (X tons), Malaysia (X tons) and Vietnam (X tons) - together made up 8.5% of total exports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +9.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and Sri Lanka ($X) were the countries with the highest levels of exports in 2022, with a combined 72% share of total exports.

Among the main exporting countries, India, with a CAGR of +11.4%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, increasing by 11% against the previous year. Over the last decade, it increased at an average annual rate of +2.7%. The pace of growth was the most pronounced in 2018 when the export price increased by 22%. Over the period under review, the export prices hit record highs in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+4.1%), while the other leaders experienced more modest paces of growth.

Activated Carbon Imports

Imports in Asia

In 2022, the amount of activated carbon imported in Asia reduced to X tons, which is down by -8.4% on 2021 figures. The total import volume increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 19% against the previous year. As a result, imports reached the peak of X tons, and then fell in the following year.

In value terms, activated carbon imports reached $X in 2022. Total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +27.1% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 25% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

Imports by Country

The purchases of the twelve major importers of activated carbon, namely Japan, South Korea, China, Taiwan (Chinese), India, Turkey, Sri Lanka, Indonesia, Malaysia, Vietnam, Thailand and the Philippines, represented more than two-thirds of total import.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +21.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest activated carbon importing markets in Asia were China ($X), Japan ($X) and South Korea ($X), with a combined 56% share of total imports. India, Taiwan (Chinese), Turkey, Sri Lanka, Indonesia, Thailand, Malaysia, Vietnam and the Philippines lagged somewhat behind, together comprising a further 34%.

The Philippines, with a CAGR of +15.4%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, increasing by 11% against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2018 when the import price increased by 12% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+5.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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