According to Future Market Insights (FMI), the coal tar pitch market will increase by 5.5% year on year in 2022, reaching a value of around US$ 3,749.6 Million by the end of 2022. The global business is expected to grow at a significant 5.4% CAGR between 2022 and 2028.
Tier-1 companies in coal tar manufacturing represent 60-70% share of the total market revenue. With massive coal tar distillation capacities across the globe, these players in the coal tar pitch landscape maintain their focus on both, standard grade and special grade coal tar pitch (CTP) production.
Tier 2 players have a strong presence over restricted regions, whereas that of Tier 3 competitors is limited to regional sales. Standard-grade coal tar pitch is the key focus area for the latter two, according to Future Market Insight’s study on the global coal tar pitch landscape.
Download a Sample to Obtain Additional Highlights and Key Points on Various Market Segments and Their Impact in the Coming Years! https://www.futuremarketinsights.com/reports/sample/rep-gb-7186
“Production facility expansion, strategic acquisitions, and CTP product innovation will remain the key developmental strategies trending among leading players,” says a senior research analyst at FMI.
The analyst adds further, “Massive Aluminum demand from automotive and transportation sectors has been pushing the Aluminum production levels 4-5% (yearly) since the recent past. Growing demand for lightweight vehicles is among the most impactful factors driving the consumption of Aluminum, subsequently contributing to sales of coal tar pitch”.
Long-term Contractual Partnerships & Backward Integrated Supply Rule Strategic Minds of Coal Tar Pitch Manufacturers
While manufacturers of coal tar pitch are preferring long-term supply contracts with leading coal tar manufacturers, FMI has also identified these players entering strategic partnerships with steel manufacturers, where coal tar is often the byproduct of coke processing ovens.
A few other activities that make this landscape dynamic include long-term contracts between manufacturers of coal tar pitch and those of primary aluminum and graphite electrode, with the sole objective to sustain the coal tar pitch supply to end markets.
Aluminum Grade CTP Holds a Winning Revenue Share in Coal Tar Pitch Market
Application-wise, around 80% revenue share belongs to the aluminum electrode, according to the study. As coal tar pitch is increasingly being consumed by aluminum smelters lowing to higher sustainability and economic feasibility, the mushrooming Aluminum production is constantly driving the growth of the coal tar pitch landscape.
In 2019, the revenue of Aluminum grade coal tar pitch is pegged for over 5% Y-o-Y growth. Besides, Graphite electrode is also slated for promising performance and the application base of coal tar pitch as a chemical intermediate in carbon black manufacturing is visibly growing.
Expand Operations in the Future – To Get Requisite Details, Ask for a Custom Report@ https://www.futuremarketinsights.com/customization-available/rep-gb-7186
Competitive Landscape
Over the past few years, manufacturers are shifting their focus toward emerging regions to cater to the growing demand from the application segments. Several key players are also focusing on expanding their production capacities, product launches, R & D, and are also focusing on mergers & acquisitions.
For Instance,
- In 2017, Koppers Inc., a wholly-owned subsidiary of Koppers Holdings Inc., announced its new long-term coal tar supply agreement with leading steelmaker ArcelorMittal.
- In 2018, Himadri Specialty Chemicals Ltd announced its plan to expand its production facility at Singur in West Bengal by making a planned investment of Rs 1,000 crore over the next five years.
China Commands over Global Coal Tar Pitch Landscape, India Leads Asia Pacific’s CTP Scenario
China, India, Russia, and Western Europe have a significant aluminum production base, whereas MEA is demonstrating promising growth in the coal tar pitch landscape in recent years. North America, however, is observing passive growth over the recent past, post-decline in aluminum production levels.
According to the FMI’s report, China is the global leader in the coal tar pitch ecosystem owing to significant Aluminum production and thriving production levels of Graphite electrodes. China is projected for a 6% year-on-year revenue growth by this year’s end, reflecting ample growth opportunities for coal tar pitch manufacturers.
On the other side, APAC’s market for coal tar pitch is witnessing growth concentration in India that has been attributed to an impressive rate of Aluminum production in the country.
Contact Sales for Further Assistance in Purchasing this Report@
https://www.futuremarketinsights.com/checkout/7186
Coal Tar Pitch Market Market by Category
By Form:
- Solid
- Liquid
By Grade:
- Aluminum Grade
- Graphite Grade
- Special Grade
By Application:
- Aluminum Electrode
- Graphite Electrode
- Roofing Coating Material
- Blast Furnance Linings
- Chemical Intermediates
- Sealants
Request a Complete TOC of this Report@
https://www.futuremarketinsights.com/toc/rep-gb-7186
Development of Specialized ‘Zero QI Impregnating’ Coal Tar Pitch Expands Applicability
A specialized ‘impregnating’ pitch obtained by processing coal tar at a high temperature is widely used in the Graphite industry during the electrode manufacturing process. The resultant technological advancements in the life of electrodes push CTP applications in roofing, coating, electrode, refractory, and others.
Explore FMI’s Extensive ongoing Coverage in the Chemicals & Materials Domain
Coal Briquettes Market: The global coal briquettes market is expected to hold a value worth US$ 2,273.8 Million in 2022. During the forecast period of 2022-2032, the market is expected to experience a CAGR of 4.2%, garnering US$ 3,431.2 Million.
Wood Charcoal Market: Future Market Insights (FMI) has estimated the market of wood charcoal to witness a year-over-year growth of 2.3% in 2022 reaching a value of about US$ 21,014.6 million by the end of 2022.
Pitch Coke Market: Coke is a synthetic raw material used for the production of carbon in combination with binding agents (or binders). There are various types of coke, such as petroleum coke, needle coke, pitch coke, carbon black coke, and metallurgical black coke.
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com
Browse the latest Market Chemicals & Materials Reports: https://www.futuremarketinsights.com/category/chemicals-and-materials
