Coal Tar Pitch Market Growth, Trends, Key Players, Competitive Methods and Forecasts to 2028
Global Coal Tar Pitch Market: Snapshot
The global coal tar pitch market is experiencing a steady growth and is estimated to grow steadily over the forecast period, all thanks to the stable rise in requirement for steel and aluminum. The fast-paced development of infrastructure in the developing nations has shot up the need for both these metals.
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Coal-tar pitch is nothing but a thick black liquid that stays following the distillation of coal tar. Coal-tar pitch is a byproduct in the making of solid fuel, coke that comprise mostly coal gas and carbon. It is utilized as a binder in asphalt products, in roofing and paving, and as a base for coatings and paint. Both coal-tar pitch and coal tar have many different chemical compounds, inclusive of carcinogens such as benzene. However, coal tar pitch could be hazardous to the environment, particularly for aquatic organisms, and might result in long- term effects.
Coal Tar Built-up Roofing Systems is one of the leading applications of the global coal tar pitch market. It is a quite well known usage of the product. Coal tar pitch is sued for roofing owing to their low life-cycle cost, low maintenance, and long-term durability.
Industry players of the global coal tar pitch market are relentlessly entering into strategic collaborations, mergers and acquisitions with the expectation of diversifying their existing product portfolio. Many new innovative products are coming up in the market to help the businesses thrive during the timeframe of forecst.
Shanghai Baosteel Chemical Co. Ltd, Nippon Steel., Himadri Specialty Chemicals Ltd, Rain Industries Limited, Koppers Inc., are some of the noted players of the global coal tar pitch market.
Global Coal Tar Pitch Market: Overview
The demand for coal tar pitch is high in the tier 1 companies as they represent 60% to 70% share in the overall market. Players are majorly focusing on standard grade and special grade coal tar pitch production to maintain their dominance in the market. These factors have led the demand in this market. Moreover, manufacturers in this market are getting in long-term contracts with primary aluminum and graphite electrode to establish themselves strongly in the market.
Information provided in the report gives out in-depth insight on the global coal tar pitch market. The analysts have exercised both primary and secondary research techniques and have referred various other sources to provide complete knowledge about the market. It is categorized based on the key parameters including segmentation, vendor landscape, and geographic analysis. All information given in the report is based on the factual knowledge.
Global Coal Tar Pitch Market: Trends and Opportunities
The technological advancements in the life of electrodes drives CTP applications in coating, roofing, refractory, and others are likely to provide a fillip in this market. Moreover, when coal tar is processed at a high temperature, a specialized impregnating pitch is obtained that is extensively used in the graphite industry while manufacturing electrode. Therefore, growing demand for these products will boosted the demand for coal tar pitch in the coming years.
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Global Coal Tar Pitch Market: Market Potential:
Strategic partnership among the leading players is expected to create lucrative growth potential in this market. Vendors are further offering innovative features in the product in order to gain market traction. This is expected to be a key trend in the global coal tar pitch market in the coming years.
Global Coal Tar Pitch Market: Geographic Analysis
From regional point of view, the global coal tar pitch market covers Latin America, the Middle East and Africa, Asia Pacific, North America, and Europe. Among these regions, Asia pacific is expected to hold maximum share in this market due to the presence of significant aluminum production base in countries like China, Russia, and India. Moreover, thriving production level of graphite electrode in China has also made this region the leading region in this market. Western Europe is also expected to offer high growth opportunities for the manufacturers working in the coal tar pitch market. As compared to these regions, North America is expected to rise at a passive rate, after the decline in the aluminum production.
Global Coal Tar Pitch Market: Competitive Landscape
Vendors in the coal tar pitch market are focusing on different business development strategies such as innovation, partnerships, collaboration, mergers and acquisitions, and expansion. By using these strategies will help the players to strengthen their position in the regional and globe market. Vendors are also involved in product development by using advanced technology that will help them in getting competitive edge in over their competitors. The report gives brief description about the key market players and the major strategies used by them. Some of the key players operating in the global coal tar pitch market are Gautam Zen International, Elkem, The Garland Company, Himadri, Durapax, Rain Carbon, and Konark Tar Products.
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