According to the research report titled ‘Asia Pacific Activated Carbon Fiber Market Forecast 2027 By Material Based, By Application, Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, Asia Pacific activated carbon fiber market is expected to exceed a valuation of USD 381.4 million by the end of forecast timespan 2021-2027.
 

As per the report findings, surging investments in various water purification projects coupled with growing need for potable water among residential customers are majorly driving the Asia Pacific activated carbon fiber market growth.
 

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Moreover, rising environmental concerns due to a significant amount of wastewater being dumped by several industries into freshwater bodies, consequently limiting people's access to safe & drinkable water, is slated to increase the product demand in both industrial and residential sectors of the region.
 

For the uninitiated, activated carbon fiber (ACFs) are well-known for removing pollutants and other poisonous substances from commercial water & air, thereby maintaining a healthy ecosystem. It can also be utilized in-home water storage systems.
 

Based on application, the market is fragmented into air purification, water treatment, chemical recovery, catalyst carrier, and others. Among these, air purification segment will develop at a promising CAGR of 7.3% through 2027, owing to expanding manufacturing sector as a result of increasing number of corporations entering the market to establish their factories.
 

Meanwhile, catalyst carrier segment will witness substantial growth owing to ACF’s advantageous characteristics such as higher capacity & adsorption rate, as opposed to granular activated carbon.
 

With respect to material, in 2020, polyacrylonitrile (PAN) segment held 30.4% of Asia Pacific activated carbon fiber market share and will grow considerably in the ensuing years, attributable to superior properties such as low density, excellent thermal stability, high modulus of elasticity, and increased strength, making it the preferred material for generating ACF.
 

From a regional perspective, India, Japan, and China will contribute significantly to the overall growth as these countries are investing extensively in sophisticated technology to produce high-quality ACF filters that will significantly lower air pollution levels.
 

Considering the competitive landscape, Unitika Ltd., Toyobo Co. Ltd., Kuraray Co. Ltd., Osaka Gas Chemical Co. Ltd., MC Evolve Technologies Corp., Jiangsu Sutong Carbon Fiber Co. Ltd., Hangzhou Nature Technology Co. Ltd.,  Jiangsu Tongkang Activated Carbon Fiber Ltd., and Gun Ei Chemical Industry Co. Ltd. are among the major competitors in the Asia Pacific activated carbon fiber industry sphere.