Rise in Demand from Aluminum and Steel Industries Expected to Drive Global Coal-Tar Pitch Market: Ken Research

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Coal-tar pitch is a black thick liquid that remains after the purification of coal tar. It contains many chemical compounds; including carcinogens such as benzene. It is an industrial product that is usually sold in bulk to customers as either a solid or a liquid. It is often supplied to customers by rail in either hopper cars (solid pitch) or tanker cars (liquid pitch). Its primary use is as a binder in the manufacture of graphite electrodes for steel arc furnaces and in the manufacture of carbon electrodes for the aluminum industry. It is also used for roofing and as a constituent in the manufacture of stimulated carbon, carbon refractory blast furnace linings, and clay targets. It is used for roofing due to its low maintenance, low life-cycle cost, and long-term durability. Coal-tar built-up roofing systems are a leading application of the market.

According to the study, “Global Coal-Tar Pitch Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use” the key companies operating in the global coal-tar pitch market are, RuTGERS, Shanghai Baosteel Chemical Co. Ltd, JFE, Yenakiieve Coke and Chemicals, Koppers Industries, Shandong Gude Chemical, Jining Carbon, Himadri Specialty Chemicals Ltd., Coopers Creek, Rain Industries Limited, Shandong Weijiao, Nippon Steel, Tangent Rail, Xinnuolixing, Shanxi Coking, Baoshun, Wugang Coking, Risun, Jining Carbon, Zhongyi, Jinneng. The key players are focusing on special grade and standard grade coal tar pitch production to maintain their dominance in the market. This factor has led to the demand in this market. Moreover, manufacturers are getting in long-term contracts with primary graphite and aluminum electrode to establish themselves strongly in the market.

Based on type, the coal-tar pitch market is segmented into high-temperature coal-tar pitch, medium temperature coal-tar pitch and low-temperature coal-tar pitch. Based on the form type, the market is segmented into liquid type, solid type, and semi-solid type. In addition, based on application, the market is segmented into aluminum smelting electrodes, surface coatings, roofing materials, pavement sealants, and others.

The coal-tar pitch market is driven by a rise in demand for aluminum & steel, followed by an increase in infrastructure development, rise in use in roofing and growth in aerospace, automotive and construction industry. However, the coal tar pitch could be harmful to the environment, particularly for aquatic organisms, which may impact the market. Moreover, the rise in advancements in technologies is a key opportunity for the market. Furthermore, the increase in the use of coal tar pitch-based needle coke in lithium-ion batteries is a major trend for the market.

Based on geography, the Asian-pacific is a leading region in the global coal-tar pitch market owing to growth in the economy coupled with an increase in the application of aluminum by industries such as construction, automotive and packaging in the region. Whereas, the European and North-American regions are likely to exhibit substantial growth rate due to a rise in disposable income and the presence of key manufacturers over the forecast period. In upcoming years, it is expected that the future of the market will be optimistic because of growth in awareness and penetration of end-use products during the forecast period.

For More Information, Click On The Link Below:-

Global Coal-Tar Pitch Market Outlook

Related Report:-

Global Coal-Tar Pitch Market Status and Future Forecast 2015-2024

Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

Ankur@kenresearch.com

+91-9015378249

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