Market Size of Coal Tar Pitch Industry
| 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 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 | |||||||
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Coal Tar Pitch Market Size Summary
The coal tar pitch market is poised for growth, driven by the increasing demand for aluminum across various industries such as automotive, aerospace, and space. This demand is primarily due to aluminum's advantageous properties, including strength and lightweight characteristics, which are essential for enhancing fuel efficiency and reducing emissions. The market experienced a setback during the COVID-19 pandemic due to a slowdown in vehicle production, but the rising interest in lightweight vehicles is expected to bolster coal tar pitch consumption, particularly in aluminum production. However, the market faces challenges from fluctuating crude oil prices, which could impede growth. The Asia-Pacific region, led by China and India, dominates the market, benefiting from substantial industrial development and a robust automotive sector.
Aluminum smelting remains the largest segment within the coal tar pitch market, supported by the metal's widespread use as the second-most consumed metal globally. The demand for aluminum is further fueled by infrastructure development and the automotive industry's shift towards electric and autonomous vehicles. China, as the largest producer and consumer of aluminum, plays a pivotal role in the market's dynamics. The Chinese government's initiatives to promote electric vehicles through subsidies and tax breaks have also positively impacted the coal tar pitch market, particularly in the graphite electrodes segment. The market is characterized by its fragmented nature, with key players including Himadri Speciality Chemicals Ltd, Rain Carbon Inc, and Mitsubishi Chemical Corporation, among others.
Coal Tar Pitch Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Growing Demand for Aluminum from various Industries
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1.1.2 Other Drivers
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1.2 Restraints
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1.2.1 Increase in Crude Oil Prices
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1.2.2 Other Restraints
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Degree of Competition
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1.5 Regulatory Policy Analysis
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1.6 Technological Snapshot
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2. MARKET SEGMENTATION (Market Size in Value)
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2.1 Grade
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2.1.1 Aluminium Grade
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2.1.2 Binder and Impregnating Grade
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2.1.3 Special Grade
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2.2 Application
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2.2.1 Aluminium Smelting
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2.2.2 Graphite Electrodes
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2.2.3 Roofing
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2.2.4 Carbon Fiber
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2.2.5 Refractories
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2.2.6 Other Applications
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 France
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2.3.3.4 Italy
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2.3.3.5 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle-East and Africa
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Coal Tar Pitch Market Size 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.
