Coal Tar Pitch Market Research Report—Global Forecast till 2030

Coal Tar Pitch Market Research Report Information by Aluminum Grade, Graphite Grade, Special Grade) By End-User (Aluminum Smelting, Graphite Electrodes, Roofing, Carbon Fiber, Refractories, Other Applications), And by Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa ) - Forecast Till 2030

ID: MRFR/CnM/9980-HCR | 128 Pages | Author: Garvit Vyas | May 2023         

Global Coal Tar Pitch Market Overview


Coal Tar Pitch Market Size was valued at USD 3.80 billion in 2021. The coal tar pitch market industry is projected to grow from USD 3.91 billion in 2022 to  USD 5.97 billion by 2030, exhibiting a compound annual growth rate (CAGR) 5.45% during the forecast period (2022 - 2030). Increase in production of aluminum in industry drives the market growth of coal tar pitch.
Coal Tar Pitch Market Overview
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Coal Tar Pitch Market Trends


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 to boost market growth


The aluminum industry demands for the largest use of coal tar pitch due to its good binding property with aluminum. With a specific weight of 2.7 g/cm3, aluminum is a light metal and is one-third of the weight of steel which results in less manufacture expensive, its application in automobiles is to lower the dead weight so that the energy consumption is lowered while boosting the engines. Moreover, this also decrease the noise and raises comfort levels, by altering the alloy composition, it is possible to adjust its strength to fit the needs of the application. Aluminum-magnesium-manganese alloys offer the best balance of formability and strength, whereas aluminum-magnesium-silicon alloys are perfect for car body sheets because they exhibit good age-hardening when painted using the bake-on method. Aluminum is about twice as good a conductor of heat and electricity as copper is in relation to its weight, due to this, aluminum is now the material of choice for important power transmission lines also it makes a great heat sink for a variety of applications where quick heat dissipation is necessary such as LED lights and computer motherboards, moreover of its low melting temperature and density, aluminum is ductile in nature, in molten state it can be treated in a number of different ways, by which it can be casted into sheets, foil, tubes, rods, and wires, among other shapes, although the aluminum foil is 0.007 mm thick, it is strong and entirely impermeable, protecting whatever food it is wrapped in from any flavors or odors from the outside world. Moreover, it blocks out UV radiation. Additionally, the metal itself is non-toxic and odorless, making it perfect for packaging delicate goods like food or medicines. The utilization of recycled aluminum lowers the carbon footprint for producers of food and beverages at this level as well. Metal is completely recyclable, and recycled aluminum is interchangeable with new aluminum. It becomes a considerably more affordable raw material for production runs as a result. According to report by All Aluminum Application it states that 70-80% of the modern aircraft are made up from aluminum to reduce the weight of the aircraft to reduce the fuel consumption and to make travel cheaper.


Figure 1: Aluminum production by region in Metric Tons, 2021
Aluminum production by region in Metric Tons, 2021
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


China is the largest producer and consumer of aluminum. In 2021, the production volume of primary aluminum in China was 38.5 million tons, an increase of 3.8 percent compared to 2020. The automotive, aerospace, and space industries are the largest consumers of aluminum because of its strength and lightweight.

In addition, the growing environmental regulations across the globe over the pollution from automobiles also create a huge prospect for the demand for aluminum. Manufacturers have thus begun to switch to aluminum for the weight reduction of automobiles, aircraft, and more. This development has increased the demand for the product during the forecast period.

19 January 2021 Aluminium as a metal can revolutionise electric vehicle industry. Emphasising aluminium edge over other metals, that every kilogram of aluminium used in a car reduces the overall weight by one kg. Increase in the driving range which means 100 kg saved on any electric vehicle could generate an additional 10-15% increase in range.

Coal Tar Pitch Market Segment Insights


Coal Tar Pitch by Grade Insights


The global coal tar pitch has been categorized by its grade, Aluminum Grade, Graphite Grade, Special Grade. The Aluminum Grade segment held the majority share in 2021 contribution to around ~75-80% in respect to the Coal Tar Pitch Market revenue. This is primarily owing to the rising growth in the manufacturing industries has increased the demand for carbon raw materials and products including petroleum coke, coal tar, anodes and cathodes and the utilization of the product to produce electrodes in the aluminum industry due to its economic feasibility and sustainability as a binder further accelerates demand for coal tar pitch market.
Coal Tar Pitch by Grade Insights
Coal Tar Pitch Application Insights


Based on End Users application, the global Coal Tar Pitch industry has been segmented into Aluminum Smelting, Graphite Electrodes, Roofing, Carbon Fiber, Refractories, and Other Applications.


Aluminum Smelting held the largest segment share in 2021, owing to the increase in aluminum production from various industries like HINDALCO, Jindal Aluminum, and many others. The Graphite Electrodes segment is expected to bolster at a 4.86% CAGR during the assessed timeline.
Coal Tar Pitch Application Insights
Coal Tar Pitch Regional Insights


By Region, the study segments the market into North America, Europe, Asia-Pacific Latin America, and Middle East & Africa.


Asia-Pacific has the largest growth of the Coal Tar Pitch Market. The Asia-Pacific market is expected to grow at 4.72%. China and India are the leading markets for coal tar in the region. Aluminum production in China and India is growing at a significant rate, owing to the growth in the construction industry. The industrialization in these countries has increased in rapid this is expected to increase the production of coal tar pitch and, in turn drive the growth of the segment during the forecast period of 2022-2030.


North America is expected to grow at steady pace owing to the increased consumption of coal tar pitch from, chemical industries and construction industry. Coal Tar Pitch is widely used as a base in the production of paints and coatings, and the market is anticipated to rise at a rate of considerable pace between 2022 and 2030.


Further, the major countries studied are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, Argentina, Brazil, Mexico, South Africa and GCC Countries.
Coal Tar Pitch Regional Insights
Coal Tar Pitch Key Market Players & Competitive Insights


Major market players are spending a lot of money on R&D to increase their product lines, which will help the coal tar pitch market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the coal tar pitch market must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.


One of the primary business strategies adopted by manufacturers in the global coal tar pitch to benefit clients and expand the coal tar pitch market sector is to manufacture locally to reduce operating costs. In recent years, coal tar pitch has provided products with some of the most significant benefits.


Himadri Speciality Chemical Ltd (India) is one of the largest Coal Tar Pitch manufacturers in India, accounting for over 70% market share. The detail quality processes ensure that it is the preferred material which is basically used for the binder in the manufacture of aluminum anode and graphite electrode. Himadri has developed and supplied a special grade of coal tar pitch to DRDO. Himadri has requisite approvals from the major global and India Aluminum and graphite manufactures. These are customized product made specially to suit customer requirement and desired quality specifications.


Rain Carbon Inc.’s (USA) R&D teams thrives at improving the properties of the product to maximize performance. Company anticipates future needs and develops sustainable solution to improve their business performance. This can take the form of reducing the consumption of energy or raw material by decreasing the impact on the workplace and environment or by improving the product.


 Key Companies in the coal tar pitch market includes



  • 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), and others.


Coal Tar Pitch Grade Outlook



  • Aluminum Grade

  • Graphite Grade

  • Special Grade


Coal Tar Pitch by Application Outlook



  • Aluminum Smelting

  • Graphite Electrodes

  • Roofing

  • Carbon Fiber

  • Refractories

  • Other Applications


Coal Tar Pitch Regional Outlook



  • North America

    • US

    • Canada



  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe



  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • Rest of Asia-Pacific



  • Latin America

    • Argentina

    • Brazil

    • Mexico



  • Middle East & Africa

    • South Africa

    • GCC Countries

    • Rest of Middle East & Africa





Report Scope:

Report Attribute/Metric Details
Market Size 2021 USD 3.80 Billion
Market Size 2030 USD 3.91 Billion
Market Size USD 5.97 Billion
Compound Annual Growth Rate (CAGR) 5.45% (2022-2030)
Base Year 2021
Forecast Period 2022-2030
Historical Data 2019 & 2020
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Grade, Application.
Geographies Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa
Countries Covered The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, Argentina, Brazil, Mexico, South Africa and GCC Countries.
Key Companies Profiled 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).
Key Market Opportunities Increase in aluminum production and road construction are the major key market opportunities of coal tar pitch market. 
Key Market Dynamics The increase in use of aluminum in automobile, aerospace, electrical industry. And increase in road construction are the key market dynamics of coal tar pitch.  
 

Frequently Asked Questions (FAQ) :

The coal tar pitch market is 3.80 billion in 2021 and expected to grow at 5.45% in 2030.

The CAGR of coal tar pitch market is 5.45%

Asia-Pacific holds up the largest market in coal tar pitch.

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).

Key Questions Answered

  • ✅ Global Market Outlook
  • ✅ In-depth analysis of global and regional trends
  • ✅ Analyze and identify the major players in the market, their market share, key developments, etc.
  • ✅ To understand the capability of the major players based on products offered, financials, and strategies.
  • ✅ Identify disrupting products, companies, and trends.
  • ✅ To identify opportunities in the market.
  • ✅ Analyze the key challenges in the market.
  • ✅ Analyze the regional penetration of players, products, and services in the market.
  • ✅ Comparison of major players’ financial performance.
  • ✅ Evaluate strategies adopted by major players.
  • ✅ Recommendations
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