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The global activated carbon market is projected to be worth more than $8 billion and grow at a compounded annual growth rate of 9.4% by 2021, says Research and Markets.
The growing use of activated carbon in industrial applications has led to that spike, the research firm says. Basically, the activated carbon is used to remove a wide range of contaminants from liquids and gases used by industry. It can also be applied to absorb a product that could possibly be used again later.