Activated Carbon Price Trend Report and Forecast 2026-2027

Introduction: Understanding the Activated Carbon Market

Activated carbon is a highly porous adsorbent material processed from carbonaceous sources such as coconut shells, coal, wood, and peat to create an extensive internal surface area exceeding 1,000 m²/g. The activated carbon price trend in FY25 was characterised by a predominantly bullish trajectory across most regions, driven by tightening raw material supply, stringent environmental regulations, and accelerating demand from water treatment and industrial processing sectors.

Produced in powdered (PAC), granular (GAC), and extruded forms, this commodity’s pricing is influenced by feedstock availability, energy costs, regulatory mandates, and downstream demand intensity. Key applications include:

• Water Treatment – the largest end-use segment, consuming over 42% of global volume for municipal and industrial purification, including PFAS remediation
• Air and Gas Purification – mercury emission control and VOC removal under U.S. EPA MATS and EU emission standards
• Food and Beverage Processing – decolourisation of sugar, purification of edible oils, and beverage filtration
• Mining and Gold Recovery – carbon-in-pulp and carbon-in-leach processes for gold extraction

Sources: Expert Market Research, Activated Carbon Market Report 2025; Procurement Resource; Activated Carbon Producers Association

Global Activated Carbon Market Overview

The global activated carbon market reached approximately USD 5.61 billion in 2025, according to Expert Market Research, projected to grow at 8.10% CAGR to USD 12.22 billion by 2035. Asia-Pacific dominated with approximately 40% of global consumption, led by China and India. PAC accounted for roughly 48% of market volume, while GAC is advancing at a faster growth rate as utilities invest in reactivation infrastructure.

Coal-based feedstock held approximately 42% of raw material share, followed by coconut shell at roughly 30%. Coconut shell prices surged through 2025, with Jacobi Carbons implementing a 15–20% price increase effective July 2025 due to limited coconut availability across Southeast Asia following the 2024 drought. Key producers include Kuraray Co. Ltd., Cabot Corporation, Calgon Carbon Corporation, and Haycarb PLC.

Sources: Expert Market Research, 2025; Jacobi Carbons (July 2025); Calgon Carbon Corporation

Global Activated Carbon Price Trend FY25

The activated carbon price trend in FY25 was predominantly bullish, with five of seven tracked regions recording net positive full-year movements. India and Australia posted the strongest gains at +24.0% and +24.7% respectively. The primary drivers included:

• Coconut Shell Feedstock Crisis: Southeast Asia’s 2024 drought severely reduced coconut harvests. Jacobi Carbons implemented two price increases in 2025 (April and July), totalling 25–30% cumulatively.
• Regulatory-Driven Demand: PFAS remediation mandates in North America and mercury emission controls in Europe and China accelerated consumption beyond normal growth trajectories.
• Rising Energy and Logistics Costs: Coal and energy price inflation increased the activated carbon cost of production, particularly in China and North America. Red Sea freight disruptions elevated import costs.
• Gold Mining Expansion: Record gold prices boosted carbon-in-pulp demand in Australia and South America, creating additional procurement pressure.

Sources: Expert Market Research; Procurement Resource; Jacobi Carbons; Goldman Sachs Commodity Research

China: Regional Price Analysis FY25

China’s activated carbon price rose from USD 1,630/MT in Q1 to USD 1,793/MT by Q3, a gain of approximately 10.0%, before plateauing in Q4 at USD 1,793/MT. The Q3 surge of +6.3% reflected rising coal feedstock costs and strong demand from industrial air filtration and chemical manufacturing sectors. Chinese producers operated at high capacity utilisation, with the activated carbon cost environment further elevated by energy price inflation in coal-intensive provinces.

Sources: Procurement Resource; Expert Market Research; China Petroleum and Chemical Industry Federation

South America: Regional Price Analysis FY25

South American prices exhibited the highest volatility, surging +22.5% in Q2 to USD 3.84/KG before correcting -8.8% in Q4 to USD 3.61/KG. The Q2 spike was driven by intensified gold mining procurement in Brazil and Peru, coinciding with coconut shell charcoal supply constraints. Q4’s decline reflected seasonal mining slowdowns and a depreciating Brazilian real. The activated carbon forecast for this region suggests stabilisation near USD 3.60–3.70/KG in early FY26 before gradual softening through mid-year.

Sources: Procurement Resource; Expert Market Research; Trading Economics

Northeast Asia: Regional Price Analysis FY25

Northeast Asia recorded a steady price increase from USD 1.617/KG in Q1 to USD 1.761/KG by Q4, a full-year rise of approximately 8.9%. Japan and South Korea drove demand through mercury-control carbon procurement and battery-grade applications. Q3’s +6.0% gain was the strongest quarterly movement, supported by tightened coconut shell imports from Southeast Asia. In September 2025, Kuraray opened its Asia Pacific Technical Center in Singapore, signalling long-term commitment to regional innovation.

Sources: Expert Market Research; Procurement Resource; Kuraray Co. Ltd. (September 2025)

North America: Regional Price Analysis FY25

North American activated carbon prices surged +13.6% in Q2 to USD 2.15/KG, driven by PFAS remediation demand and U.S. EPA MATS compliance requirements. The activated carbon price peaked at USD 2.20/KG in Q3 before correcting -6.3% in Q4 to USD 2.06/KG as Arq’s new Louisiana production line eased supply constraints. Calgon Carbon expanded Gulf Coast reactivation capacity and launched “Operation Bedrock” to secure long-term utility supply contracts.

Sources: Procurement Resource; Expert Market Research; U.S. EPA; Calgon Carbon (2025); Arq Inc. (2025)

India: Regional Price Analysis FY25

India recorded the second-strongest full-year price increase at +24.0%, rising from USD 1.93/KG in Q1 to USD 2.39/KG by Q4. After an initial Q2 decline of -4.2% driven by competitive import offers, prices surged +15.4% in Q3 and +12.2% in Q4 as domestic water treatment projects and pharmaceutical purification demand intensified. Indian coconut shell-based producers leveraged the country’s feedstock advantage, maintaining strong export volumes to the U.S. and Europe.

Sources: Procurement Resource; Expert Market Research; Government of India, Ministry of Commerce Export Data

Europe: Regional Price Analysis FY25

European activated carbon prices rose consistently from USD 2.16/KG in Q1 to USD 2.52/KG by Q4, a full-year increase of approximately 16.8%. Q2’s +10.4% gain was the strongest quarterly movement, driven by mercury emission regulation enforcement and PFAS compliance across Germany, France, and the UK. The activated carbon market in Europe saw cross-border investment growth as Nanping Yuanli and Italy’s Carbonitalia formed a joint venture in August 2025 to develop sustainable production capacity.

Sources: Procurement Resource; Expert Market Research; European Commission; Nanping Yuanli/Carbonitalia JV (August 2025)

Australia: Regional Price Analysis FY25

Australia recorded the strongest full-year gain at +24.7%, rising from USD 1.96/KG in Q1 to USD 2.44/KG by Q4. After a modest Q2 dip of -1.7%, prices surged +11.0% in Q3 and +14.1% in Q4, driven by record gold prices fuelling carbon-in-pulp processing demand and intensified PFAS remediation at defence and industrial sites. Reliance on imported coconut shell carbon from Southeast Asia amplified the impact of the 2024 drought on domestic cost structures.

Sources: Procurement Resource; Expert Market Research; World Gold Council; Australian Government, PFAS Remediation Programme

Activated Carbon Market Outlook: FY26

The activated carbon forecast for FY26 points toward a stabilising market after FY25’s broad-based rally. Early indicators suggest modest firmness in Q1, followed by gradual softening through Q2–Q3 as supply chains normalise and new capacity comes online:

• Feedstock Recovery: Coconut shell supply is expected to recover partially as Southeast Asian harvests improve, though Jacobi’s repeated 2025 price increases suggest structural tightness may persist into H1 FY26.
• New Capacity: Arq’s Louisiana facility, Calgon Carbon’s expanded reactivation assets, and the Nanping-Carbonitalia European JV will ease regional supply constraints by mid-FY26.
• PFAS Compliance Acceleration: U.S. EPA enforcement timelines for PFAS drinking water standards will sustain structural GAC demand, providing a price floor in North America.
• Gold Price Sensitivity: Any correction in gold prices could soften Australian and South American demand, while sustained strength would maintain elevated procurement volumes.

Across most regions, prices are anticipated to ease by 2–5% through mid-FY26 before stabilising toward year-end, reflecting gradual rebalancing between supply recovery and sustained regulatory-driven demand.

Sources: Expert Market Research; Procurement Resource; Goldman Sachs Commodity Research

Key Takeaways for Buyers and Manufacturers

For Procurement and Sourcing Professionals

• Lock in Q1 FY26 contracts: Prices are expected to ease through mid-FY26; securing contracts early captures favourable terms before full supply recovery.
• Diversify feedstock sourcing: Coconut shell supply remains structurally tight. Blending coal-based and coconut-based grades reduces single-source vulnerability.
• Monitor PFAS regulation timelines: U.S. and European PFAS compliance deadlines will create demand surges; forward purchasing mitigates price spikes.
• Evaluate reactivated carbon: Reactivated GAC offers 40–60% cost savings versus virgin carbon with comparable performance for many applications.

For Manufacturers and Producers

• Invest in reactivation capacity: Calgon Carbon’s expansion signals reactivation as a strategic growth segment aligned with ESG mandates.
• Secure coconut shell supply chains: Jacobi’s dual 2025 price increases underscore feedstock risk. Long-term agreements with Asian charcoal suppliers are essential.
• Target high-purity specialty grades: Pharmaceutical, semiconductor, and PFAS-specific carbons command premium margins with less price competition.
• Expand PFAS-specific products: Purpose-engineered GAC for sub-nanogram PFAS capture represents the fastest-growing product category in the market.

Sources: Expert Market Research; Procurement Resource; Calgon Carbon; Jacobi Carbons

Analyst Insights

The activated carbon price trend in FY25 reflected a market in structural transition. Unlike cyclical commodity chemicals where overcapacity drives prices down, this sector benefited from a convergence of tightening environmental regulations, feedstock supply disruptions, and expanding end-use applications that collectively supported sustained price appreciation. India’s +24.0% and Australia’s +24.7% gains were driven by application-specific demand surges rather than broad industrial consumption. FY26 is expected to bring a moderation phase as new capacity and recovering feedstock supply ease the imbalance, though regulatory demand floors will prevent material price correction.

Sources: Expert Market Research; Goldman Sachs Commodity Research; Procurement Resource

Sources and References

1. Expert Market Research, Activated Carbon Market Report 2025
2. Expert Market Research, Pricing Data FY25
3. Procurement Resource, Activated Carbon Price Trends and Forecast
4. Goldman Sachs Commodity Research
5. U.S. EPA, PFAS National Primary Drinking Water Regulation (April 2024)
6. U.S. EPA, Mercury and Air Toxics Standards (MATS)
7. Jacobi Carbons, Price Increase Announcements (April/July 2025)
8. Calgon Carbon Corporation, Reactivation Expansion and Operation Bedrock (2025)
9. Arq Inc., Louisiana Production Line Commissioning (2025)
10. Kuraray Co. Ltd., Asia Pacific Technical Center, Singapore (September 2025)
11. Nanping Yuanli / Carbonitalia S.r.l., Joint Venture (August 2025)
12. Cabot Corporation, EVERSORB™ Product Launch
13. World Gold Council, Gold Demand Trends 2025
14. Activated Carbon Producers Association
15. European Commission, Mercury Emission Regulations
16. Australian Government, PFAS Remediation Programme
17. Government of India, Ministry of Commerce, Export Data
18. Trading Economics, Commodity Data, February 2026