Advancement: Will Activated Carbon Market Ever Rule the Industry?
Pune, New York, USA, November 18 2020 (Wiredrelease) Research Dive –:According to a recent report by Research Dive, the global activated carbon market is forecasted to reach $9,055.1 million by the end of 2026, from $4573.1 million in 2018.
The comprehensive report provides a brief overview of the current and pre-pandemic scenario of the market, including other aspects such as dynamics of the market, growth and restraining factors, challenges, and opportunities during the forecast period. The report also offers the market figures, which makes it easier and more beneficial for the new participants to understand the real-time market.
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Factors Impacting the CAGR Figures
The report reveals the real-time CAGR garnered by the market during the pandemic. According to the report, the activated carbon market has recorded a CAGR of 8.9% during the last few months, while it was expected to be 9.5% as per the pre-COVID-19 analysis. The reason behind this downfall is the temporary or permanent shutting down of activated carbon end-user companies and the decline of the demand.
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Factors Impacting the Market Size in the Pre-COVID and Real-time Scenario
According to the report, the real-time market size has been decreased compared to the pre-COVID-19 estimations. The real-time market size has reached a revenue of $3,535.8 million, while it was estimated to reach $5,439.7 million in a previous analysis. In order to prevent the spread of the coronavirus, governments across countries imposed severe lockdown regulations, which led to temporary to permanent shutting down of all the end-user industries of the activated carbon.
As per the report, the global activated carbon market is expected to recover from the loss in the 3rd or 4th quarter of 2022. The leading market players are emphasizing strategic tie-ups with other players, R&D, innovation, product launches, and mergers and acquisitions to restore the demand as well as the growth of the market post the pandemic.
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