Global Coal Tar Pitch Market Report and Forecast 2024-2032

Global Coal Tar Pitch Market Outlook

The global coal tar pitch market size stood at a value of around USD 2.66 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 4.90% to reach USD 4.09 billion by 2032.

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Heightened Application of Downstream Products of Liquid Coal Tar Pitch to Augment the Global Coal Tar Pitch Industry

Liquid coal tar pitch is used as a base for making paints and coatings. In this regard, the heightened demand for paints and coatings in various industrial sectors such as construction, is driving the segment’s growth. It is also used in roofing and paving of a structure. Hence, the thriving commercial construction sector across the emerging economies is further propelling the demand for liquid coal tar pitch.

The anticipated increase in the utilisation of liquid coal tar pitch as a binder in asphalt products is likely to aid the segment’s growth in the coming years. Over the forecast period, the thriving do-it-yourself sector is likely to accelerate the demand for paints and coatings which is anticipated to be another crucial driving factor of the coal tar pitch market.

The Asia Pacific Region Holds a Significant Share in the Market for Coal Tar Pitch

The market in the region is being driven by the strong foothold of major aluminium manufacturers in India and China’s emerging economies which is leading to an increase in the production capacities. In addition to this, the rapid urbanisation and rapid industrialisation across the continent is likely to generate a significant demand for paints and coatings and aluminium, thereby, bolstering the market growth.

The growing expansion of the automotive firms in countries like Japan and South Korea is leading to the technological advancements of automobiles. This is likely to generate a high demand for coal tar pitch in the forecast period.

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Market Segmentation

Coal tar is defined as a substance which is a derivative of coal and is obtained as a by-product during the production of coke. Further distillation of coal tar leads to the formation of coal tar pitch which is a thick black liquid used as a base for paints and coats.

Based on form, the market can be bifurcated into:

• Solid

• Liquid

By grade, the coal tar pitch market has been divided into:

• Aluminium

• Binder and Impregnating

• Special Grade

The significant applications of the product include:

• Aluminium Electrode

• Graphite Electrode

• Roofing

• Carbon Fibre

• Refractories

• Others

The regional markets for the product include the Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa.

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Increasing Demand for Aluminium to Boost the Growth of the Coal Tar Pitch Industry

Coal tar pitch is used as a binder in the production of carbon anodes which are used in the extraction of aluminium. This makes coal tar pitch a crucial component for the production of aluminium. In this regard, the increasing demand for aluminium in the automotive and industrial construction sector, is driving the demand for the coal tar pitch market.

Over the forecast period, the anticipated increase in demand for electric passenger vehicles is likely to propel the application of coal tar pitch, thereby, boosting the market growth. Moreover, the increasing use of coal tar pitch by construction chemical companies to insulate and expand joint fillers and waterproofing systems is further bolstering the demand for coal tar pitch.

Coal tar pitch is also widely used in the production of refractory materials. Therefore, the anticipated rise in demand for refractory materials in the manufacture of casting glass and metals is likely to be a major driving factor of the market in the coming years.

Key Players in the Global Market for Coal Tar Pitch

The report gives a detailed analysis of the following key players in the global coal tar pitch market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Bilbaína de Alquitranes, S.A. (BASA)

• Mitsubishi Chemical Corporation 

• Rain Carbon Inc.

• DEZA a. s.

• Koppers Holdings Inc.

• Halliburton Company

• BP PLC

• China United Coalbed Methane Corp.

• Petroliam Nasional Berhad (PETRONAS)

• Santos Limited

• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report