09-Jan-2023 | Facts and Factors
According to Facts and Factors, the global coal tar pitch market size was worth around USD 3.8 billion in 2021 and is predicted to grow to around USD 5.3 billion by 2030 with a compound annual growth rate (CAGR) of roughly 5.45% between 2022 and 2030.
Coal tar pitch is the by-product of coke ovens, and is one of the most preferred materials to be used in a binder during the production of graphite and carbon electrodes. It is material produced during coal conversion. As per the International Union of Pure and Applied Chemistry, its derived name is ‘Coal Tar Pitch, High Temperature’ while its chemical abstract service (CAS) number is 65996-32-2 with 266-028-2 being its number for the European Inventory of Existing Chemical Substances.
Browse the full “Coal Tar Pitch Market Size, Share, Growth Analysis Report By Grade (Graphite Grade Coal Tar Pitch and Aluminum Grade Coal Tar Pitch), By Form Type (Liquid Coal Tar Pitch and Solid Coal Tar Pitch), By Application (Graphite Electrode, Aluminum Electrode, and Roofing Coating Material), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2030" report at https://www.fnfresearch.com/coal-tar-pitch-market
The physical appearance of coal tar pitch is dark-brown and shiny. In some situations, it may also be pitch black depending on the distillation process of coal tar. The chemical consists of different types of substances. At room temperature, it is in solid form and is made of a mixture of different types of polycyclic aromatic hydrocarbons (PAHs) along with their derivatives in polymethyl and methyl forms. The hydrogen aromaticity displayed by coal tar pitch lies within a range of 0.7 to 0.9. Currently, the only source of coal tar pitch is coal tar produced by its coking at high temperatures during the manufacturing of metallurgical coke. The industrial production of coal tar pitch includes a combination of distillation processes of coal tar generally at a temperature of 400 degrees Celsius.
The global coal tar pitch market is projected to grow owing to the increasing investments in the construction of roadways across developing and developed nations as a means to upgrade regional infrastructure. Roadways are a critical form of transportation for people, goods, or services. The quality of roadway architecture is a defining factor in terms of foreign investments as companies tend to look at the overall infrastructure advantages offered by any country before making large-scale investments.
The Indian government has been pushing the funds involved in developing roadways in the country. It recently allocated USD 1.4 trillion to be spent on infrastructure to be spent by 2025 with USD 350 billion directed especially toward road architecture. Developed countries spend a hefty amount on the construction and maintenance of new roads. Between 2011 and 2022, the US registered a jump of nearly 25% in terms of highway spending.
The global market faces challenges in terms of the growing health concerns amongst the population in circumstances of prolonged exposure to the chemical components of coal tar pitch. This concern is not only limited to the workers working in areas containing the chemical but to the general population as well that can get exposed in forms of environmental contaminants or while using coal tar to treat skin disorders. People who are regularly exposed to the chemical are at a high risk of skin cancer while it is also being linked to other forms like kidney, bladder, and lung cancer.
The Growing research to develop advanced versions may provide growth opportunities while occupational hazards are expected to challenge the market expansion.
Segmental Overview
The global coal tar pitch market is segmented based on grade, form type, application, and region
Based on the form type, the global market divisions are liquid coal tar pitch and solid coal tar pitch with the liquid segment generating the highest revenue in 2021 due to the growing use of the chemical in the road and other construction businesses. The solid form is generally referred to as pencil pitch since they are extruded in small rods and the chemical has applications in the production of electrodes consisting of anthracite coal or petroleum. One of the largest coal tar pitch-producing companies, Himadri valued at INR 16900 million in the fiscal year 2021.
Based on application, the global market divisions are graphite electrode, aluminum electrode, and roofing coating material. The global market witnessed surging growth in the roofing coating material segment due to the growing construction industry and higher demand for roofing sealants. Graphite electrodes are used in the manufacturing of non-ferrous and steel metals. Almost 3 kilograms of graphite electrode is required for the production of 1 ton of steel.
Regional Overview
Asia Pacific is projected to dominate the global coal tar pitch market due to the growing investments in urbanization and modernization of countries like China, India, South Korea, Japan, and others. As per China’s new vision for future development, the government has already started demolishing rural villages and structures to incorporate the growing urban population. The country intends to migrate around 80% of its population which is close to 900 million people in urban cities. Growth in North America could be driven by the rise in the number of roadway projects. By February 2022, the US government had already initiated 5 large projects for road development. For instance, the I-70 widening project with an investment of USD 4000 million is subject to completion by the end of the fourth quarter of 2030
Report Scope
Report Attribute |
Details |
Market Size in 2021 |
USD 3.8 Billion |
Projected Market Size in 2030 |
USD 5.3 Billion |
CAGR Growth Rate |
5.45% CAGR |
Base Year |
2021 |
Forecast Years |
2022-2030 |
Key Market Players |
Hengshui Zehao Chemicals Co. Ltd, Himadri Specialty Chemicals Ltd., Koppers Inc., China Steel Chemical Corporation, Shanxi Coking Company, Shanghai Baosteel Chemical Co. Ltd. , and others. |
Key Segment |
By Grade, Form Type, Application, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
Purchase Options |
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Competitive Landscape
The global coal tar pitch market is dominated by players like Hengshui Zehao Chemicals Co., Ltd, Himadri Specialty Chemicals Ltd., Koppers Inc., China Steel Chemical Corporation, Shanxi Coking Company, and Shanghai Baosteel Chemical Co. Ltd. amongst others.
Recent Developments:
- In May 2019, Showa Denko announced its plan to improve the carbon production facility in Europe
- In October 2022, Graphite India reported its intention to shut down graphite electrode production in Germany
The global coal tar pitch market is segmented as follows:
By Grade
- Graphite Grade Coal Tar Pitch
- Aluminum Grade Coal Tar Pitch
By Form Type
- Liquid Coal Tar Pitch
- Solid Coal Tar Pitch
By Application
- Graphite Electrode
- Aluminum Electrode
- Roofing Coating Material
By Region
- North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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