NEW
YORK, Aug. 9, 2024 /PRNewswire/ -- The
global coal tar pitch market size is estimated to grow by
USD 618.2 million from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of over 2.19% during the forecast period. Increasing use of
aluminum across various industries is driving market growth, with a
trend towards increasing use of advanced types of coal tar pitch.
However, restrictions on using coal tar pitch poses a challenge.
Key market players include Aparna Carbons Pvt. Ltd., Bilbaína
de Alquitranes SA, China Risun Group Ltd., China Steel Chemical
Corp., Coopers Creek Chemical Corp., DEZA AS, Himadri Speciality
Chemical Ltd., JFE Holdings Inc., Jining Carbon Group Co. Ltd.,
Konark Tar Products Pvt. Ltd., Koppers Holdings Inc., Lone Star
Specialties LLC, Mitsubishi Chemical Corp., Nippon Steel Corp.,
NLMK Group, Quimica del Nalon SA, Rain Carbon Inc., Shree Shyam
Chemicals, Sumitomo Corp., and Vanajaa Enterprises.
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Coal Tar Pitch Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
2.19%
|
Market growth
2024-2028
|
USD 618.2
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
2.12
|
Regional
analysis
|
APAC, Europe, North
America, Middle East and Africa, and South America
|
Performing market
contribution
|
APAC at 43%
|
Key
countries
|
China, India, Russia,
US, and United Arab Emirates
|
Key companies
profiled
|
Aparna Carbons Pvt.
Ltd., Bilbaína de Alquitranes SA, China Risun Group Ltd., China
Steel Chemical Corp., Coopers Creek Chemical Corp., DEZA AS,
Himadri Speciality Chemical Ltd., JFE Holdings Inc., Jining Carbon
Group Co. Ltd., Konark Tar Products Pvt. Ltd., Koppers Holdings
Inc., Lone Star Specialties LLC, Mitsubishi Chemical Corp., Nippon
Steel Corp., NLMK Group, Quimica del Nalon SA, Rain Carbon Inc.,
Shree Shyam Chemicals, Sumitomo Corp., and Vanajaa
Enterprises
|
Market Driver
The coal tar pitch market has experienced steady growth due to
the increasing demand for electrodes in primary aluminum
production. Each 100 lbs. Of aluminum requires approximately 10
lbs. Of coal tar pitch. In May 2021,
global primary aluminum production reached 5,744 thousand metric
tons, with China accounting for
the largest share at 3,344 thousand metric tons. The demand for
coal tar pitch is directly linked to aluminum production. Advanced
coal tar pitches, such as Zero QI impregnation pitch, are gaining
popularity due to their enhanced properties. This black solid
material, derived from high-temperature coal tar, increases
electrode density, strength, and electrical conductance. Zero QI
impregnation pitch's use in advanced applications, like direct
methanol fuel cells, further boosts the coal tar pitch market
growth. The growing demand for aluminum in various sectors and the
development of advanced coal tar pitches are key factors driving
market expansion.
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Market Challenges
- The coal tar pitch market may face challenges due to increasing
regulations on the use of coal tar pitch-based products. Coal tar
pitch contains harmful chemicals, particularly polycyclic aromatic
hydrocarbons (PAHs), which are carcinogenic. Human exposure to coal
tar pitch can occur through inhalation, ingestion, and skin
absorption during coke production, aluminum production, coal
gasification, and use of tar roofing, pavement tar, refractory
carbon bricks, or other coal-tar coatings. The presence of PAHs in
coal tar pitch makes it toxic to aquatic organisms, leading to
restrictions on the use of coal tar-based seal coats. For instance,
the city of East Lansing,
Michigan, US, banned the use of coal tar-based sealants in
April 2021 due to their toxicity.
These regulations can negatively impact the growth of the global
coal tar pitch market during the forecast period.
- The Coal Tar Pitch market faces several challenges in various
industries. In the automotive sector, concerns include energy
consumption during production, noise, and comfort levels. Alloy
composition, formability, and strength are crucial factors for car
body sheets. Age-hardening properties are essential for engine
components. In the electrical industry, challenges include the
melting temperature and density of Coal Tar Pitch products. Its
conductivity as a heat sink and conductor of electricity is vital
for power transmission lines, heat sinks, LED lights, and computer
motherboards. Environmental regulations pose challenges due to the
carbon footprint of Coal Tar Pitch production. The use of raw
materials, production runs, and modern aircraft manufacturing
require continuous improvement to meet sustainability targets. In
the electric vehicle industry, Coal Tar Pitch is used in the
production of batteries, where its high melting temperature and
ductility in the molten state are essential. However, challenges
include increasing driving range requirements, environmental
regulations, and competition from alternative materials like
aluminum foil, which is impermeable, non-toxic, odorless, and
recycled. Competition from copper wires, tubes, rods, and aluminum
wires also exists. The melting temperature and density of Coal Tar
Pitch products must be carefully controlled to maintain their
competitive edge. Additionally, the bake-on method used in the
production of paint requires careful consideration for energy
efficiency and environmental impact.
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Segment Overview
This coal tar pitch market report extensively covers market
segmentation by
- Application
- 1.1 Aluminum production
- 1.2 Graphite electrodes and specialty graphite
- 1.3 Carbon processing
- 1.4 Others
- Type
- 2.1 Solid coal tar pitch
- 2.2 Liquid coal tar pitch
- Geography
- 3.1 APAC
- 3.2 Europe
- 3.3 North America
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Aluminum production- The coal tar pitch market is set
for substantial growth during the forecast period, primarily driven
by its essential role in the aluminum industry. In aluminum
production, coal tar pitch functions as a binder in the creation of
carbon anodes for the electrolytic Hall-Heroult process. The
quality of these anodes relies heavily on the quality of the coal
tar pitch and calcined pitch coke (CPC) used. Smelters establish
stringent quality parameters for sulfur and trace metal impurities,
such as nickel, vanadium, iron, calcium, sodium, and silicon, in
the CPC to ensure optimal anode performance. The automotive sector,
which is the major consumer of aluminum due to the trend towards
manufacturing lightweight vehicles, will fuel the demand for coal
tar pitch. However, the growth of the coal tar pitch market will be
solely dependent on primary aluminum production and not secondary
production. Consequently, the diverse applications of aluminum
across various industries will significantly boost the demand for
coal tar pitch, thereby fueling its growth in the aluminum smelting
sector.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Research Analysis
The Coal Tar Pitch market is driven by the increasing production
of aluminum, a key component in various industries including the
space industry due to its low weight and high strength properties.
The aluminum industry's growth is fueled by stringent regulations
on vehicle emissions, leading to the demand for lightweight
aluminum components in the automotive sector. The production of
electric and autonomous vehicles further boosts the market, as
their batteries and other components require large amounts of
aluminum. Coal tar pitch, a byproduct of coal tar during aluminum
smelting, finds applications in the production of chemicals such as
phenols and aromatics through fractional distillations. It is also
used as fuel, electrodes, and other industrial process
applications.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Aluminum Production
- Graphite Electrodes And Specialty Graphite
- Carbon Processing
- Others
- Type
-
- Solid Coal Tar Pitch
- Liquid Coal Tar Pitch
- Geography
-
- APAC
- Europe
- North America
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research
and advisory company. Their research and analysis focuses on
emerging market trends and provides actionable insights to help
businesses identify market opportunities and develop effective
strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio