Coal Tar Pitch Market is predicted to reach USD 5.97 billion at a CAGR of 5.45% during the forecast period 2022 to 2030.

Market Research Future (MRFR) has published a half cooked research report on the “global Coal Tar Pitch Market”that contains the information from 2022 to 2030.

Global Coal Tar Pitch Market Synopsis

The global Coal Tar Pitch market is projected to witness significant growth during the forecast period 2022–2030. In 2021, the global market was valued at USD 3.8 billion in 2021. This number is expected to reach USD  5.97 billion, with a 5.45% CAGR by the end of 2030. The Increasing demand for aluminum from the automotive, aerospace, and space industries owing to its strength and low weight and the implementation of stringent regulations regarding vehicle emissions making manufacturers adopt lightweight aluminum components is primarily driving the global Coal Tar Pitch market.

A huge amount of the coal tar pitch produced across the world is used to create carbon electrodes. Its economic feasibility and sustainability as a binder make it an ideal raw material for carbon electrodes that are used to produce aluminum. Rise in demand for aluminum is the major driver of the global coal tar pitch market.  

Moreover, implementation of stringent regulations on vehicle emissions has made way for lightweight automobile components, and aluminum with its lightweight property is considered as one of the best materials for automobile components. The same property keeps aluminum in demand in the aerospace industry. Asia-Pacific is likely to dominate the global Coal Tar Pitch market.

Competitive Landscape

The key players in the global market have large production bases and advanced manufacturing facilities at the domestic and international levels. This helps them supply the product to various end users across the globe within lesser time than the small-scale manufacturers, providing a competitive edge in the global market. Prominent players account for most of the global market share due to their global revenue base, advanced production technologies, brand identity, vast industry experience, integrated production facilities, available raw materials at competitive prices, and wide distribution network. Furthermore, these players compete globally and strive to achieve a strong position in the market. Rain carbon Inc. (USA), Mitsubishi Chemical Carbon Fiber and Composites(USA), Himadri Speciality Chemical Ltd (India), Neptune Hydrocarbons (India), Shandong Gude Chemical Co.Ltd (China), DEZA A.S. (CZECH REPUBLIC), Nippon Steel & Sumikin Chemical Co (Japan), Hengshui Zehao Chemicals Co (China), China Steel Chemical Corporation. (China). are the major shareholders in the global Coal Tar Pitch market.

Segmentation

By Grade

• Aluminum Grade: It is unique in its properties to act as an improved Binder having excellent Compatibility with carbonaceous aggregates of different origin & nature to provide superior grades of electrodes either in situ or in Soderberg type. This product helps to impart technical properties and produce top class anode quality.


• Graphite Grade: Improved chemical compatibility between carbonaceous aggregate (CPC) and the pitch - it is possible to manufacture long durable and best performing graphite electrodes. Manufactured electrodes can be used in high-capacity electric arc furnaces in hassle free operation.


• Special Grade: This product is used in manufacturing of industrial silicon carbide blocks, crucible and as a binder for casted material.

By Application

• Aluminum Smelting: Coal tar pitch is a main raw material for binding carbon anodes used for aluminum production by smelting flux electrolysis. Electrode pitch is manufactured by continuous distillation of crude coal tar and subsequent thermal treatment of the primarily produced pitch.


• Graphite Electrodes: Coal tar pitch is used as a binder and an impregnating agent in the production of graphite electrodes, and a medium-temperature or medium-temperature modified coal tar pitch having a moderate softening point and a high coking value is generally used.


• Roofing: A Coal Tar roofing system represents the industry's premier built-up roof membrane assembly. Coal tar's unique molecular structure provides a system that resists water and vapor penetration, insect damage, chemical attack, UV exposure and most elements considered common enemies to other roof membrane systems.


• Carbon Fiber: Coal-tar pitch, which is a by-product of the coke oven, is frequently used as a binder and impregnator in the manufacture of electrodes in the aluminum and steel industries. Coal-tar pitch can be also used as a matrix precursor for carbon/carbon composite due to high carbon yield.


• Refractories: It is also used to impregnate and strengthen refractory brick (for lining industrial furnaces), and in surface coatings, such as pipe-coating enamels and black varnishes used as protective coatings for industrial steelwork and as antifouling paints for boats.


• Others: Solid coal tar pitch is extruded into small rods and, for this reason, is often referred to as ‘pencil pitch’. In the aluminum industry, coal tar pitch is used as a binder in the manufacture of electrodes which primarily consist of petroleum or anthracite coal. As these electrodes are heated at high temperatures over a period of weeks, the ingredients in the electrodes are converted to C Pitch.

By Region:

• North America: North America is expected to show upward trend the Coal Tar Pitch market with a high growth rate over the forecast period, driven by the increase in demand from the aerospace & defense industry.


• Latin America: Latin America is expected to show healthy growth with advancement in automobiles.


• Europe: The Coal Tar Pitch market is predicted to increase steadily in Europe due to the expansion of the automotive.


• Asia-Pacific: Asia-Pacific is expected to dominate market with a high demand for Coal Tar Pitch’s attributed to the growing increasing demand for aluminum from the automotive, aerospace, and space industries owing to its strength and low weight and the implementation of stringent regulations regarding vehicle emissions making manufacturers adopt lightweight aluminum components. Additionally, it is anticipated that the Asia-Pacific region's Coal Tar Pitch market will grow as more countries, like China and India, increase their investments in developing and bolstering their automotive.


• The Middle East & Africa: The Middle East & Africa is expected to show sustainable growth in the Coal Tar Pitch market due to advancements infrastructure.