From 2013 to 2023, the import of activated carbon to India has shown variability with periods of significant growth and occasional declines. The value stood at 21.819 million kg in 2023. Over the last two years, the year-on-year variations were 9.82% in 2022 and 4.06% in 2023. The Compound Annual Growth Rate (CAGR) over the last five years was 3.75%.
Key Trends:
- 2013-2015: Consistent growth with double-digit year-on-year increases.
- 2016: Slight decline in imports.
- 2017-2018: Strong recovery with significant growth rates.
- 2019-2020: Stabilization followed by a notable drop in imports in 2020.
- 2021-2023: Recovery and moderate growth stabilizing just above 21 million kg by 2023.
Looking ahead to 2024-2028, the import of activated carbon is forecasted to continue its steady growth with a forecasted 5-year CAGR of 2.93%, indicating a relatively stable rise in demand. This results in an overall 15.55% growth over the forecast period up to 2028.
Future Trends to Watch:
- Technological advancements in activated carbon production could impact import volumes.
- Environmental regulations and policies may drive demand for higher imports.
- Global market dynamics, such as trade policies and supply chain disruptions.
