Saudi Arabia Activated Carbon Market Trends, Share, Report 2023-2030
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Saudi Arabia Activated Carbon Market size at USD 59.72 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects Saudi Arabia Activated Carbon Market size to expand at a CAGR of 6.01% reaching a value of USD 89.87 million by 2030. Major growth factors for Saudi Arabia Activated Carbon Market include the product's wide range of applications in industries such as chemicals, food and beverages, and pharmaceuticals, as well as the Kingdom's water scarcity and the high demand for activated carbon in water treatment.
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Opportunity - Rapid Industrialization and Stringent Government Regulations
Saudi Arabia is witnessing rapid industrialization under its Vision 2030 and has been significantly focusing on the growth of non-oil sectors, including automotive, pharmaceutical & healthcare, and food & beverages. With the expansion of these sectors, the demand for activated carbon is projected to surge because of its use in the purification processes. Activated carbon is used for many purposes in industrial settings, such as chemical processing, air and water filtration, and recovery of solvents. In addition, stringent government regulations and standards surrounding air and water quality, waste management, and emission reduction are further anticipated to drive Saudi Arabia Activated Carbon Market over the forecast period.
Impact of Escalating Geopolitical Tensions on Saudi Arabia Activated Carbon Market
Intensifying geopolitical tensions could disrupt the growth of Saudi Arabia Activated Carbon Market. The Kingdom may witness supply chain disruption for essential raw materials required in the manufacturing of activated carbon due to escalating tensions, especially in the areas around Saudi Arabia. This might result in shortages and price increases for producers. Due to the energy-intensive nature of activated carbon synthesis, volatility in oil prices brought on by shifts in international energy markets may directly raise the cost of manufacturing this product. The cost of producing activated carbon may increase if oil prices rise as a result of geopolitical concerns, which would raise prices for customers in industries that depend on it.
Powdered Segment to Record Fastest CAGR
The powdered segment holds the largest share of Saudi Arabia Activated Carbon Market. The smaller particle size of powdered activated carbon leads to a better surface-to-volume ratio and a higher absorption capacity. However, the granular activated carbon sector also has a sizable market share due to its application as a filter and absorbent in water treatment procedures. Granular activated carbon is also the subject of intensive research and development by industry participants, which is anticipated to provide the market attractive growth prospects.
Competitive Landscape
The major industry players of Saudi Arabia Activated Carbon Market include Cabot Corp., Kuraray Co. Ltd, Kureha Corp., Osaka Gas Co. Ltd, Evoqua Water Technologies, Carbios SA, Saudi Carbonate Company, and Al-Jazeera Factory. The presence of leading industry players intensify the market competition, as these companies focus on gaining a significant market share.
These companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches to further enhance their market share.
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