VALLEY COTTAGE, New York, November 28, 2018
VALLEY COTTAGE, New York, November 28, 2018 /PRNewswire/ --
Over the years, coal tar pitch demand has registered significant growth. The use of coal tar pitch for the production of electrodes, used in primary aluminum production, accounts for more than 80% share in the global coal tar pitch market demand. The global aluminum production has witnessed an average growth of 4%-5% in the past years. Primary aluminum production in countries, such as China, has witnessed exponential growth in the past decade and is further expected to grow in the coming years. China accounts for 50%-55% share in the global aluminum production. The greater the production of primary aluminum, the more is the demand for coal tar pitch. 1 ton of aluminum requires approximately 100 kgs of coal tar pitch during the smelting process. Therefore, rising demand for aluminum is anticipated to create traction in the global coal tar pitch market during the forecast period.
The Coal Tar Pitch market has been tracked by evaluating aluminum production and graphite electrode production across prominent countries. The average amount of coal tar consumed to produce aluminum or graphite electrode has been tracked to ascertain the global coal tar pitch market volume consumption.
The volume consumption of coal tar pitch has further been validated from supply side wherein coal tar distillation and coal tar pitch production capacities have been tracked to estimate the global coal tar pitch market. The distillation of coal tar yields 50% coal tar pitch. The market dynamics have also been covered in detail and factors expected to create an upsurge in demand have been studied. That apart, major challenges faced by manufacturers have also been covered in this Coal Tar Pitch report.
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Ongoing developments, such as shut down of coal tar pitch production facilities by top manufacturer Koppers Inc., have also been covered in this report. The major trends in the Coal Tar Pitch market have also been studied thoroughly and been validated by industry experts.
Recent market trends, such as development of environmental friendly coal tar pitch and development of Zero QI impregnating pitch to enhance the life and performance of electrodes, have also been covered in detail in the report. The manufacturers are entering into long-term partnerships with coal tar suppliers to ensure backward integrated supply. Moreover, coal tar pitch manufacturers are collaborating with global aluminum smelters and graphite electrode manufacturers to ensure a continuous and reliable supply of coal tar pitch.
Global Coal Tar Pitch Market Analysis by Form
In terms of form, the global coal tar pitch market is anticipated to be dominated by the liquid form throughout the forecast period. Most of the aluminum smelters uses coal tar pitch in liquid form owing to the occupational health and safety concerns.
Global Coal Tar Pitch Market Analysis by Grade
In terms of grade, the global Coal Tar Pitch market is anticipated to be dominated by aluminum grade coal tar pitch. The use of coal tar pitch in the aluminum production industry accounts for ~80% share. The use of coal tar pitch for the manufacturing of graphite electrode is also anticipated to expand significantly. Growing demand for graphite electrodes, majorly in China and other regions, for EAF steel production is projected to further boost the global coal tar pitch market.
The special grade segment accounts for relatively smaller share in the global coal tar pitch market and find usage in roofing, road pavements, lithium ion batteries and as chemical intermediate for the production of carbon black and a number of other applications.
Coal Tar Pitch Market: Segmentation Form - By Solid coal tar pitch, Liquid coal tar pitch ; Grade - Aluminium grade coal tar pitch, Graphite grade coal tar pitch, Special grade coal tar pitch : https://www.futuremarketinsights.com/reports/coal-tar-pitch-market
Global Coal Tar Pitch Market Analysis by Region
From a regional perspective, China is projected to hold leading share in the global market. Aluminum production in China has grown significantly; China now represents more than 50% share in the global aluminum production. China is also the major producer of graphite electrode. Both of these factors are anticipated to fuel the coal tar pitch market in China. Production of aluminum through smelting is an energy intensive process and a shift of production plants to Middle East and Europe is leading to increased demand for coal tar pitch in these regions. APEC, predominantly India, has also witnessed noteworthy growth in aluminum production and thus, is projected to witness significant demand for coal tar pitch. North America has witnessed sluggish growth in coal tar pitch but is projected to recover in the coming years. Latin America, majorly Mexico, has witnessed significant growth in coal tar pitch consumption to cope with growing demand from the aluminum industry.
Key Players Dominating the Global Coal Tar Pitch Market
Examples of some of the key competitors covered in this report are Koppers Inc., Shandong Gude Chemical Co., Ltd, Coopers Creek Chemical Corporation, Himadri Specialty Chemicals Ltd., Rain Industries Limited, ., Shanghai Baosteel Chemical Co. Ltd., 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. and Crowley Chemical Company, Inc, amongst others.
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