DUBAI, United Arab Emirates, Feb. 09, 2022 (GLOBE NEWSWIRE) -- 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 coal tar pitch landscape maintain their focus on both, standard grade and special grade coal tar pitch (CTP) production.
The coal tar pitch market to grow with a year on year growth of 5.5% in 2022 reaching a value of about US$ 3,749.6 Mn by 2022 end. The global business is anticipated to witness a considerable CAGR of 5.4% during the period of 2022 and 2028.
| Coal Tar Pitch Market Size (2021) | US$ 3,553.5 Mn | |
| Coal Tar Pitch Sales (2022) | US$ 3,749.6 Mn | |
| Projected Coal Tar Pitch Market (2028) | US$ 5,145.5 Mn | |
| Value CAGR (2022-2028) | 5.4% | |
| Collective Value Share: Top 3 Countries (2022) | 69.3% | |
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.
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“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 a 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 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.
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Scope Of Report
| Attribute | Details |
| Forecast Period | 2022-2028 |
| Historical Data Available for | 2013-2021 |
| Market Analysis | USD Million for Value and Tons for Volume |
| Key Regions Covered | North America, Latin America, Western Europe, Eastern Europe, APEC (Asia Pacific Excluding China), China, Middle East & Africa. |
| Key Countries Covered | U.S.,Canada,Brazil, Mexico, Rest of LA, Germany, Italy, France, U.K., Spain, BENELUX, Russia, Rest of Western Europe, Russia, Poland, Rest of Eastern Europe, India, ASEAN, ANZ, Japan, Rest of APEC, GCC Countries, South Africa, Rest of MEA. |
| Key Segments Covered | Form, Grade, Application, and Region |
| Key Companies Profiled | • Koppers Inc. • Coopers Creek Chemical Corporation • Himadri Specialty Chemicals Ltd. • Rain Industries Limited • JFE Holdings, Inc. • 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 • Crowley Chemical Company, Inc. • Shanghai Baosteel Chemical Co. Ltd. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
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 pushes CTP applications in roofing, coating, electrode, refractory, and others.
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 coal tar pitch landscape in recent years. North America, however, is observing passive growth over the recent past, post decline in the aluminum production levels.
According to the FMI’s report, China is the global leader in coal tar pitch ecosystem owing to significant Aluminum production and thriving production levels of Graphite electrode. 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.
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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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