Coal Tar Pitch Market

Coal Tar Pitch Market: Increasing Usage in Primary Aluminium Production to Drive Growth: Global Industry Analysis 2013 - 2017 and Opportunity Assessment 2018 - 2028

Coal Tar Pitch Market: Global Industry Trend Analysis and Competition Tracking

The coal tar pitch market report covers comprehensive information about market trends, volume (tons) and value (US$ Mn) projections, market dynamics, competition and recent developments in the global coal tar pitch market for the study period 2018 to 2028.

The global coal tar pitch market is expected to reach a value of over US$ 5,145 Mn by the end of the forecast period, registering a CAGR of 5.4% between 2018 and 2028. The increasing use of primary aluminum across various end-use industries such as automotive, aerospace and construction, amongst others has led to an increase in the demand for primary aluminum production, which in turn drives the demand for coal tar pitch, which is used for the manufacture of electrodes used in the smelting process.

A Brief Overview of the Research Methodology of the Coal Tar Pitch Market Report

FMI uses a modelling-based approach and triangulation methodology, which includes market profiling, hypothesis generation, data collection, forecast development, pricing analysis and competition mapping.

In order to estimate the global volume consumption of coal tar pitch, the amount of coal tar pitch required for each application has been tracked. For instance, 1 ton of aluminum requires 100 kg of coal tar pitch, similar consumption has been tracked for other applications. Thereafter, the production of primary aluminum, graphite electrode production and other such factors have been tracked at a regional level to estimate the global consumption of coal tar pitch.

This is further verified from the supply side wherein coal tar distillation and coal tar pitch production capacities of the major players have been tracked to analyze the global supply and demand scenario for coal tar pitch. The import-export analysis has also been done to further validate the regional diversification in the coal tar pitch consumption.

About the Report

The report on the coal tar pitch market is a syndicated research report, formulated on the basis of a predefined scope. The primary intent of the report is to highlight the volume sales of coal tar pitch across key geographies considered over various segments.

The coal tar pitch market report includes various market analysis frameworks such as BPS analysis, market attractiveness analysis and incremental $ opportunity index. These frameworks provide clients with a thorough understanding of the coal tar pitch market, identifying the relatively greater opportunistic market and also an idea about the latest trends in the coal tar pitch market.

Coal Tar Pitch Market Dynamics

The global market for coal tar pitch is anticipated to expand at a rate of 5.4% over the forecast period. The global aluminum production has witnessed an average growth rate of 4–5% over the past few years. Some of the countries such as China and India have exhibited more than average growth for primary aluminum production. The rising demand for aluminum can be attributed to the stringent regulations regarding vehicle emissions, which has resulted in the use of aluminum for the manufacture of lightweight aluminum components.

The growth in the aluminum industry is expected to drive the demand for carbon raw materials and products, such as petroleum coke, coal tar pitch, anodes and cathodes. More than 80% of coal tar pitch is used for the production of electrodes in the aluminum industry due to its economic feasibility and sustainability as a binder. No other alternative has shown such performance and hence, coal tar pitch continues to be widely used in aluminum production.

Moreover, owing to the increasing concerns regarding environmental conservation, stringent regulations in China regulate the production of steel. Manufacturers have shifted to EAF steel manufacturing from the other alternative conventional methods of steel production.

Graphite electrodes are an obligatory part of EAF steel production. As a result, China’s graphite electrode consumption is anticipated to grow 3x in the coming years. Therefore, there has been an expected undersupply of graphite electrodes across other regions. This is further expected to generate demand for coal tar pitch to increase the production of graphite electrode and cope with the global undersupply scenario.

However, the global coal tar pitch market also faces challenges regarding the emission of harmful greenhouse contributing gases. Thus, there has been research and development in alternative materials for use in the production of aluminum, which is projected to impact the global coal tar pitch market.

Moreover, the increased production of secondary aluminum and use in a number of major end-use industries including transportation and construction, amongst others are anticipated to restrain the demand for coal tar pitch as the production of secondary aluminum (recycled) doesn’t require the use of coal tar pitch for smelting applications.

Key Developments in the Coal Tar Pitch Market

Aluminum production in the U.S. declined by ~40–50% in 2016. This can be attributed to the increasing import of aluminum and aluminum products from China-based players at economic prices, which has severely impacted aluminum smelters in North America. However, the imposed tariff on the U.S. import of aluminum and products is likely to improve the scenario and thus, generate the demand for coal tar pitch.

The coal tar pitch market has been oversupplied in the past and thus, prominent manufacturers such as Koppers Inc. had to shut down their production plants in the U.S., the U.K. and China. This has improved the global scenario and improved the capacity utilization rate for coal tar pitch.

An Overview of the Coal Tar Pitch Market Structure

The global coal tar pitch market is a highly consolidated one with major players such asKoppers Inc., Rain Industries Limited, Shanghai Baosteel Chemical Co. Ltd and JFE Holdings, Inc. accounting for a 50–60% share in the global market.

Some of the other prominent players covered in the global coal tar pitch market study areCoopers Creek Chemical Corporation, Himadri Specialty Chemicals Ltd., Nippon Steel & Sumikin Chemical Co., Ltd., Shanxi Coking Company, Neptune Hydrocarbons, Bathco Ltd., China Steel Chemical Corporation, Hengshui Zehao Chemicals Co., Ltd, Shandong Gude Chemical Co., Ltd and Crowley Chemical Company Inc., among others.

Coal Tar Pitch Market: Segmentation

Form

  • Solid coal tar pitch
  • Liquid coal tar pitch

Grade

  • Aluminium grade coal tar pitch
  • Graphite grade coal tar pitch
  • Special grade coal tar pitch

Application

  • Aluminium Electrode
  • Graphite electrode
  • Roofing coating material
  • Blast Furnace linings
  • Chemical intermediate
  • Sealants

Region

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEC (Asia Pacific Excluding China)
  • China
  • Middle East and Africa

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