United Kingdom's Activated Carbon Market to See 2.7% CAGR Value Growth Amid Slowing Volume Expansion

IndexBox has just published a new report: United Kingdom - Activated Carbon - Market Analysis, Forecast, Size, Trends And Insights.

The UK activated carbon market saw significant growth in 2024, with consumption reaching 86K tons and market value hitting $311M. Driven by strong demand, the market is forecast to expand at a CAGR of +0.6% in volume and +2.7% in value through 2035, reaching 92K tons and $414M respectively. Domestic production was 63K tons, supplemented by imports of 33K tons, primarily from China. Exports declined to 10K tons. Key trends include rising import volumes from China and France, but falling export volumes, alongside a significant increase in average export prices.

Key Findings

• UK activated carbon market value is forecast to grow at a 2.7% CAGR, reaching $414M by 2035
• Market consumption hit 86K tons in 2024, with volume growth projected to slow to a 0.6% CAGR
• China is the dominant import source, supplying 36% of volume, while the US provides the highest-value imports
• UK exports have declined sharply, falling 23.8% in 2024, but average export price surged 17% to $4,982 per ton
• Domestic production of 63K tons in 2024 fails to meet local demand, creating a consistent import requirement

Market Forecast

Driven by increasing demand for activated carbon in the UK, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.6% for the period from 2024 to 2035, which is projected to bring the market volume to 92K tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.7% for the period from 2024 to 2035, which is projected to bring the market value to $414M (in nominal wholesale prices) by the end of 2035.

Consumption

United Kingdom's Consumption of Activated Carbon

Activated carbon consumption in the UK expanded significantly to 86K tons in 2024, growing by 10% on the previous year. Overall, consumption saw a remarkable increase. Activated carbon consumption peaked in 2024 and is likely to continue growth in the immediate term.

The revenue of the activated carbon market in the UK surged to $311M in 2024, growing by 19% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption enjoyed buoyant growth. Over the period under review, the market reached the peak level in 2024 and is expected to retain growth in the near future.

Production

United Kingdom's Production of Activated Carbon

In 2024, the amount of activated carbon produced in the UK expanded modestly to 63K tons, growing by 3.4% compared with 2023 figures. Over the period under review, production continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2014 with an increase of 176% against the previous year. Over the period under review, production attained the peak volume at 65K tons in 2022; however, from 2023 to 2024, production failed to regain momentum.

In value terms, activated carbon production skyrocketed to $294M in 2024 estimated in export price. Overall, production saw prominent growth. The pace of growth appeared the most rapid in 2014 with an increase of 179%. Activated carbon production peaked in 2024 and is expected to retain growth in the immediate term.

Imports

United Kingdom's Imports of Activated Carbon

In 2024, supplies from abroad of activated carbon increased by 9.2% to 33K tons, rising for the third consecutive year after three years of decline. Over the period under review, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 9.2% against the previous year. Over the period under review, imports reached the maximum in 2024 and are likely to see gradual growth in the immediate term.

In value terms, activated carbon imports shrank modestly to $67M in 2024. In general, total imports indicated pronounced growth from 2013 to 2024: its value increased at an average annual rate of +2.5% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, imports decreased by -5.6% against 2022 indices. The pace of growth appeared the most rapid in 2018 with an increase of 27% against the previous year. Over the period under review, imports reached the peak figure at $71M in 2022; however, from 2023 to 2024, imports remained at a lower figure.

Imports By Country

In 2024, China (12K tons) constituted the largest supplier of activated carbon to the UK, with a 36% share of total imports. Moreover, activated carbon imports from China exceeded the figures recorded by the second-largest supplier, France (5.2K tons), twofold. The United States (3.1K tons) ranked third in terms of total imports with a 9.4% share.

From 2013 to 2024, the average annual rate of growth in terms of volume from China stood at +7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+18.0% per year) and the United States (+11.2% per year).

In value terms, China ($21M) constituted the largest supplier of activated carbon to the UK, comprising 32% of total imports. The second position in the ranking was taken by the United States ($9.5M), with a 14% share of total imports. It was followed by Belgium, with an 11% share.

From 2013 to 2024, the average annual growth rate of value from China stood at +10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+8.4% per year) and Belgium (-6.1% per year).

Import Prices By Country

In 2024, the average activated carbon import price amounted to $2,036 per ton, declining by -9.6% against the previous year. Over the period from 2013 to 2024, it increased at an average annual rate of +1.6%. The pace of growth appeared the most rapid in 2018 an increase of 17%. The import price peaked at $2,527 per ton in 2022; however, from 2023 to 2024, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($3,085 per ton), while the price for France ($779 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Australia (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports

United Kingdom's Exports of Activated Carbon

In 2024, overseas shipments of activated carbon decreased by -23.8% to 10K tons, falling for the fifth year in a row after three years of growth. Over the period under review, exports showed a perceptible descent. The most prominent rate of growth was recorded in 2015 with an increase of 12%. The exports peaked at 20K tons in 2019; however, from 2020 to 2024, the exports failed to regain momentum.

In value terms, activated carbon exports declined to $50M in 2024. In general, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when exports increased by 13%. Over the period under review, the exports attained the peak figure at $61M in 2020; however, from 2021 to 2024, the exports failed to regain momentum.

Exports By Country

France (1.5K tons), Belgium (1.4K tons) and the Netherlands (1.2K tons) were the main destinations of activated carbon exports from the UK, with a combined 41% share of total exports. Ireland, Poland, Germany, Slovenia, Spain, India, Italy, China and the United States lagged somewhat behind, together accounting for a further 45%.

From 2013 to 2024, the biggest increases were recorded for Slovenia (with a CAGR of +47.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for activated carbon exported from the UK were Poland ($8.4M), Belgium ($7.5M) and Slovenia ($6M), together accounting for 44% of total exports.

Among the main countries of destination, Slovenia, with a CAGR of +72.0%, recorded the highest rates of growth with regard to 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 average activated carbon export price stood at $4,982 per ton in 2024, rising by 17% against the previous year. Over the period under review, export price indicated a noticeable expansion from 2013 to 2024: its price increased at an average annual rate of +3.0% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, activated carbon export price increased by +83.5% against 2017 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Slovenia ($13,244 per ton), while the average price for exports to France ($2,084 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for supplies to Slovenia (+16.3%), while the prices for the other major destinations experienced more modest paces of growth.