Coal Tar Pitch Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Coal Tar Pitch Market grew at a CAGR of 4.2% between 2017-2021 and is estimated to be US$ 3,127.2 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 4.9% and is expected to reach a valuation of US$ 5,045.6 Mn by 2032 end.
The Coal Tar Pitch market is rapidly expanding due to the growing demand for Coal Tar Pitch in Aluminium Smelting. Due to its strength and lightweight, the aerospace, automotive, and space industries are the biggest consumers of aluminum. A great opportunity for the demand for aluminum is also presented by the expanding environmental restrictions against automotive emissions that are being implemented all over the world.
ChemView Consulting has analyzed that Coal Tar Pitch seeks significant demand from the Construction industry, positively influencing the market growth. Increasing automobile production in regions such as the Middle East, Asia Pacific, and Latin America has risen dramatically in Coal Tar Pitch demand.
More infrastructure projects are completed every year, particularly in emerging nations. Simultaneously, strict pollution control laws have opened the door for lightweight automobile parts. Aluminum is regarded as one of the greatest materials for car parts due to its lightweight. The aircraft sector continues to require aluminum due to the same feature.
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Segments Covered in Report
By Form:
- Solid
- Liquid
By Grade:
- Aluminum Grade
- Graphite Grade
- Special Grade
By Application:
- Aluminum Electrode
- Graphite Electrode
- Roofing Coating Material
- Blast Furnace Linings
- Chemical Intermediates
- Sealants
By End-Use:
- Automotive
- Power and Energy
- Construction
- Chemical & Petroleum
- Oil and Gas Connections
- Others
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
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Key Takeaways from the Coal Tar Pitch Market
- Based on the Application, the Aluminum Electrode segment will dominate at a significant CAGR from 2022 to 2032. This segment accounted for 40.0% of revenue share in 2021.
- Based on the Grade, the Graphite Electrode is expected to increase the Coal Tar Pitch demand worldwide significantly. Increasing order from the electric arc Furnace, Steel industries, and the building and infrastructure sectors will boost Coal Tar Pitch tubular goods.
- Asia-Pacific is projected to dominate the Coal Tar Pitch market with a market share of 53.7% during the forecast period due to high consumption from the region’s stringent end-use industries and enormous Coal Tar Pitch production rate, particularly in India & China.
Competition Summary
Key companies covered in the market study are Koppers Inc., Coopers Creek Chemical Corporation, Himadri Specialty Chemicals Ltd., Rain Industries Limited, JFE Holdings, Inc., Nippon Steel & Sumikin Chemical Co., Ltd., Shanxi Coking Company, Neptune Hydrocarbons, Bathco Ltd., China Steel Chemical Corporation, Hengshui Zehao Chemicals Co., Ltd, Shandong Gude Chemical Co., Ltd, Crowley Chemical Company, Inc., Shanghai Baosteel Chemical Co. Ltd.
Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
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