Coal Tar Pitch Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Coal Tar Pitch Market Analysis
The global coal tar pitch market is expected to register a CAGR of more than 4.5% during the forecast period.
COVID-19 highly impacted the coal tar pitch market due to a slowdown in vehicle production. However, the rising demand for lightweight vehicles will likely boost the consumption of coal tar pitch for aluminum production.
- The major factor driving the market studied is the surging demand for aluminum in the automotive, aerospace, and space industries owing to its strength and low weight.
- On the flip side, increasing crude oil prices may hamper the overall industry growth.
- The rising demand for electric and autonomous vehicles will offer new growth opportunities to the industry.
- Asia-Pacific dominates the market with the majority of the demand coming from countries such as China and India
Coal Tar Pitch Market Trends
This section covers the major market trends shaping the Coal Tar Pitch Market according to our research experts:
Aluminum Smelting to Dominate the Market
- Aluminum smelting is the largest segment of the coal tar pitch market owing to the demand for aluminum from various industries.
- Globally, aluminum is the second-most-used metal after steel, with an annual consumption of 88 million tons (including scrap). The rise in infrastructure development and automotive production is encouraging development in the metals and mining sector.
- 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.
Asia-Pacific to Dominate the Market
- The Asia-Pacific is expected to dominate the global coal tar pitch market owing to the rising demand for aluminum from the aerospace, automobile, and space industries. The Asia-Pacific also constitutes the largest automotive sector and holds the largest aluminum market share owing to substantial industrial development.
- China is the largest manufacturer of automobiles in the world. The country's automotive sector has been shaping up for product evolution, with the country focusing on manufacturing products to ensure fuel economy and minimize emissions, owing to the growing environmental concerns due to mounting pollution in the country. However, the market witnessed a shrink in 2018 and 2019, as production decreased by about 4.2% and 7.5%, respectively.
- The country is focusing on the electric vehicles segment to overcome environmental concerns. In April 2020, the central government of China stated that it would extend subsidies and tax breaks for NEV buyers, which include all-electric cars, plug-in hybrids, and fuel cell vehicles, for two more years to stimulate consumption, as these subsidies were previously scheduled to be phased out by the end of 2020.
- The Chinese government currently offers a maximum subsidy of CNY 25,000 (USD 3576) for EVs with a range of over 400 kilometers (250 miles), down by half from CNY 50,000 (USD 7153) after the latest round of reductions in June 2020. This has boosted demand for the graphite electrodes segment of the coal tar pitch market in the country.
- Furthermore, the growing demand for carbon fiber in automotive applications has also caused the demand for the coal tar pitch market in the region to surge.
Coal Tar Pitch Industry Overview
The global coal tar pitch market is fragmented in nature. Some of the major companies are Himadri Speciality Chemicals Ltd, Rain Carbon Inc, Bilbaína de Alquitranes, S.A., DEZA a. s, and Mitsubishi Chemical Corporation, among others (not in any particular order).
Coal Tar Pitch Market Leaders
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Rain Carbon Inc.
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Mitsubishi Chemical Corporation
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Bilbaína de Alquitranes, S.A
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Himadri Speciality Chemical Ltd
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DEZA a. s.
*Disclaimer: Major Players sorted in no particular order
Coal Tar Pitch Market News
Recent developments pertaining to the market studied will be covered in the final report.
Coal Tar Pitch Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Growing Demand for Aluminum from various Industries
- 4.1.2 Other Drivers
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4.2 Restraints
- 4.2.1 Increase in Crude Oil Prices
- 4.2.2 Other Restraints
- 4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Degree of Competition
- 4.5 Regulatory Policy Analysis
- 4.6 Technological Snapshot
5. MARKET SEGMENTATION (Market Size in Value)
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5.1 Grade
- 5.1.1 Aluminium Grade
- 5.1.2 Binder and Impregnating Grade
- 5.1.3 Special Grade
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5.2 Application
- 5.2.1 Aluminium Smelting
- 5.2.2 Graphite Electrodes
- 5.2.3 Roofing
- 5.2.4 Carbon Fiber
- 5.2.5 Refractories
- 5.2.6 Other Applications
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5.3 Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 India
- 5.3.1.3 Japan
- 5.3.1.4 South Korea
- 5.3.1.5 Rest of Asia-Pacific
- 5.3.2 North America
- 5.3.2.1 United States
- 5.3.2.2 Canada
- 5.3.2.3 Mexico
- 5.3.3 Europe
- 5.3.3.1 Germany
- 5.3.3.2 United Kingdom
- 5.3.3.3 France
- 5.3.3.4 Italy
- 5.3.3.5 Rest of Europe
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
- 5.3.5 Middle-East and Africa
- 5.3.5.1 Saudi Arabia
- 5.3.5.2 South Africa
- 5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%)**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 Bathco Ltd
- 6.4.2 Bilbaina de Alquitranes, S.A.
- 6.4.3 Coopers Creek chemical corporation
- 6.4.4 Crowley Chemical Company, Inc.
- 6.4.5 DEZA a. s
- 6.4.6 Hengshui Zehao Chemicals Co., Ltd.
- 6.4.7 Himadri Speciality Chemicals Ltd
- 6.4.8 JFE Chemical Corporation
- 6.4.9 Koppers Inc.
- 6.4.10 Mitsubishi Chemical Corporation.
- 6.4.11 Neptune Hydrocarbons Mfg. Pvt. Ltd.
- 6.4.12 Rain Carbon Inc
- 6.4.13 Shandong Jiefuyi
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Rising Demand for Electric and Autonomous Vehicles
Coal Tar Pitch Industry Segmentation
Coal tar pitch is a byproduct of the distillation of coal tars obtained from the high-temperature pyrolysis of coal. Coal tar pitch is a hard and brittle substance mainly containing aromatic, resinous compounds and other hydrocarbons and their derivatives. The market is segmented into grade, application, and geography. By grade, the market is segmented into aluminum grade, binder and impregnating grade, and special grade. By application, the market is segmented into aluminum smelting, graphite electrodes, roofing, carbon fiber, refractories, and other applications. The report also covers the market size and forecasts for the coal tar pitch market in 15 countries across major regions. The market sizing and forecasts for each segment have been done based on revenue (USD million).
| Grade | Aluminium Grade | |
| Binder and Impregnating Grade | ||
| Special Grade | ||
| Application | Aluminium Smelting | |
| Graphite Electrodes | ||
| Roofing | ||
| Carbon Fiber | ||
| Refractories | ||
| Other Applications | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle-East and Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle-East and Africa |
Coal Tar Pitch Market Research FAQs
What is the current Coal Tar Pitch Market size?
The Coal Tar Pitch Market is projected to register a CAGR of greater than 4.5% during the forecast period (2024-2029)
Who are the key players in Coal Tar Pitch Market?
Rain Carbon Inc. , Mitsubishi Chemical Corporation, Bilbaína de Alquitranes, S.A, Himadri Speciality Chemical Ltd and DEZA a. s. are the major companies operating in the Coal Tar Pitch Market.
Which is the fastest growing region in Coal Tar Pitch Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Coal Tar Pitch Market?
In 2024, the Asia Pacific accounts for the largest market share in Coal Tar Pitch Market.
What years does this Coal Tar Pitch Market cover?
The report covers the Coal Tar Pitch Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Coal Tar Pitch Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Coal Tar Pitch Industry Report
Statistics for the 2024 Coal Tar Pitch market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Coal Tar Pitch analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
