Market Review of Coconut Shell Activated Carbon

Global activated carbon imports reached 1,019,804 tons in 2024, marking a 3.8% increase from 2023. This modest recovery follows a sharp decline after the exceptional 2022 peak of 1,078,708 tons, driven by post-pandemic demand surges. While 2024 imports didn't return to the 2022 high, they represent the second-highest level in the past decade, indicating stable global trade and sustained demand from key industries.

 

Figure 1 Global Activated Carbon Import Volume, 2015-2024

 

The long-term trend since 2015 shows an overall upward trajectory, with brief setbacks during the 2020 pandemic and a 2023 correction. The 2024 rebound reflects renewed activity in industrial, environmental, and purification applications, demonstrating the market's resilience and the gradual normalization of global supply chains. In 2024, the US imported 48,498 tons of coconut shell-based activated carbon valued at $104.4 million. Compared to 2023 (46,663 tons, $99.7 million), this shows modest growth in both volume and value, signaling recovery. However, these figures remain well below the 2022 peaks of 66,432 tons and $164.7 million, suggesting ongoing inventory and price adjustments. Overall, the relatively stable growth in quantity and value points to market normalization and price stabilization.

 

Figure 2 U.S. Coconut Shell Activated Carbon Import Data, 2015-2024

 

India achieved robust export growth in 2024, with activated carbon exports surging 25.4% year-on-year to 177,940 tons. Export value rose 28.4% to $310.96 million. This strong performance highlights India's enhanced competitiveness and growing global demand for its products, particularly in applications like air purification and water treatment. Key markets like the US, Sri Lanka, and Belgium saw significant expansion, while Turkey and Germany showed signs of saturation or heightened competition.

 

Figure 3 Top 10 Indian Activated Carbon Export Destinations, 2024

 

Sri Lanka's activated carbon exports grew 13.3% to 58,381 tons in 2024, with export value increasing 21.9% to $151.21 million. December was particularly strong, setting record highs of 5,285 tons and $14.34 million, indicating robust year-end demand. Monthly data also consistently outperformed 2023 levels, potentially reflecting higher unit prices or increased exports of higher-value-added products. This solid growth reinforces Sri Lanka's strategic market position.

 

Indonesia's coconut shell-based activated carbon exports fell 9% to 17,097 tons in 2024. Export value dropped more sharply by 18% to $23.4 million. This significant decline in value points to lower unit prices and weak market demand. Despite a late-year recovery, overall performance remained below 2023 levels, likely due to intensified competition and shifting demand patterns.

 

The Philippines saw a marginal 0.5% decline in activated carbon exports to 58,692 tons in 2024. Export value dipped slightly by 0.8% to $97.4 million. While the first half was weak, strong shipments in July and October helped stabilize the annual figures. Relatively stable prices per ton suggest that export volume changes were the primary driver of the annual results.

 

Figure 4 Monthly Prices of Coconut Shell Charcoal in Sri Lanka, Indonesia, and India, 2021-2025

 

Tight supply and recovering demand drove significant price increases for coconut shell charcoal in major producing countries during 2024 and early 2025. Indonesia's prices climbed from $461 per ton in January 2024 to $729 per ton by March 2025. India followed a similar trend, rising from $329 to $722 per ton. Activated carbon prices also increased, with Sri Lanka's rising from $2,346 per ton in December 2023 to $2,713 per ton in December 2024. In contrast, Indonesia's export prices remained relatively stable.

 

Figure 5 Activated Carbon Export Prices in Sri Lanka and Indonesia, 2022-2024

 

Overall, Indonesia's market outlook remains cautiously optimistic. Sustained demand growth in sectors like water treatment, air purification, food processing, and energy storage – driven by coconut shell activated carbon's renewable nature and high adsorption capacity – continues to favor the industry. The Asia-Pacific region is expected to maintain growth momentum, while developed markets sustain premium pricing for high-end products under stringent environmental regulations. However, trade risks persist. Tariff barriers established in the US during the Trump administration continue to impact global trade flows, particularly affecting Asian exporters. While some companies benefit from trade diversion, others face pressure on profit margins and must explore new markets. Consequently, despite favorable fundamentals, trade policies and price volatility will significantly shape the industry landscape in 2025.