Activated carbon prices rose quarter after quarter through Q1 2026, then flattened in Q2. According to ChemAnalyst's activated carbon price index, the index held stable in North America and Europe in Q2 2026 and was stable to slightly lower in Asia. Spot prices then eased in June in all three regions. For water utilities, food processors and emission-control buyers, that June dip is the best buying window in a year.
Key numbers
- Q2 2026: stable in North America and Europe, stable to soft in APAC, with June spot prices lower everywhere
- Q1 2026: up in the US, China and Germany, driven by energy costs and coconut-shell supply problems
- Q4 2025: up in the US, down in China and Germany
- Q3 2025: up in the US and Germany, down in China
Why did prices climb into early 2026?
Two costs drove the increases. The first was energy. Activated carbon is made by heating carbon-rich material at very high temperatures, which uses a lot of energy. In the US, natural gas costs for that heating rose during the extreme winter weather of January 2026. In Germany, LNG prices surged the same month and raised costs further.
The second was feedstock, specifically coconut shell. In January 2026, natural disasters in Southeast Asia raised import costs for coconut-shell feedstock into China. Transport and storage costs for coconut-shell charcoal surged, and regional raw material stocks tightened. Coconut-shell carbon is the preferred grade for drinking water and gold recovery, so that disruption reached premium grades first.
Demand added to the pressure. In Q1, US demand from municipal water treatment strengthened because of ongoing regulatory compliance. In Germany, rising car production lifted demand for emission filters in March.
What changed in Q2?
Supply caught up. In North America, domestic production and imports covered demand comfortably, and stable feedstock and energy costs removed producers' justification for raising prices. Asian producers ran at normal rates, coal and coconut-shell supplies settled, and freight conditions improved. Buyers in all three regions then purchased only what they needed immediately, which made June spot prices soft.
Not all activated carbon is the same product
Price indices cover grades that buyers should not treat as interchangeable. Coal-based, coconut-shell and wood-based carbons differ in pore structure, hardness and best use. Powdered and granular forms are priced differently, and reactivated carbon is cheaper again. A quote is only comparable with a series for the same feedstock and form. When coconut shell gets tight, as it did in January, the gap between coconut-based and coal-based grades can widen quickly.
What buyers should do before the next contract
- Use the June softness. Comfortable stocks and buyers purchasing only for immediate needs give you room to negotiate that you didn't have in Q1.
- Name the feedstock in the contract. Specifying coal, coconut or wood stops a supplier substituting grades when one raw material tightens.
- Avoid fixing on energy-driven prices. The Q1 increase was caused by an energy spike that has since eased. Index-linked terms protect you if winter repeats the pattern.
Outlook
ChemAnalyst expects a steady near-term trend in North America, with consistent demand from environmental and industrial uses. Asia looks balanced, with possible support from water treatment demand. In Europe, any recovery depends on stronger municipal water and industrial filtration demand. Over the longer term, demand is driven by regulation: emission limits, water standards and mercury control, which grow steadily even when short-term buying pauses.
Track regional activated carbon prices, drivers and forecasts on the ChemAnalyst activated carbon price page.
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