Coal Tar Pitch Market Analysis :
Coal tar pitch is a thick black liquid, which is derived from coal. It is used as a base for coatings and paint, in roofing and paving, and as a binder in asphalt products. Coal tar and coal tar pitch contain many chemical compounds, including carcinogens such as benzene. Coal tar pitch is used to produce graphite electrodes used in steel arc furnaces and to manufacture carbon electrodes, which are used in smelting aluminum. The global coal tar pitch market has been growing progressively, and is expected to remain steady in the future.
Coal tar is a by-product produced during the production of coke, a solid fuel that contains mostly carbon and coal gas. It is used primarily for the production of refined chemicals and coal-tar products, such as creosote and coal-tar pitch. Certain preparations of coal tar have long been used to treat various skin conditions, such as eczema, psoriasis, and dandruff.
Impact of COVID-19 analysis
The mining sector has been severely impacted by the outbreak of the COVID-19 pandemic. Mining companies in India are among those being hit by weakened demand, as the COVID-19 pandemic impacts the global economy. The pandemic has affected the entire value chain, as organizations limit access to offices, mine sites, and manufacturing facilities, alongside restrictions on transportation and shipping increase. This has significantly reduces the production activities of coal tar, thereby disturbing supply demand balance. Thus, due to restrictions on imports and exports, raw material replenishment took longer than usual, which further reduced the production volume.
Top impacting factors: market scenario analysis, trends, and drivers
A huge amount of the coal tar pitch produced across the world is used to create carbon electrodes. Its economic feasibility and sustainability as a binder make it an ideal raw material for carbon electrodes that are used to produce aluminum. Rise in demand for aluminum is the major driver of the global coal tar pitch market.
Moreover, implementation of stringent regulations on vehicle emissions has made way for lightweight automobile components, and aluminum with its lightweight property is considered as one of the best materials for automobile components. The same property keeps aluminum in demand in the aerospace industry.
However, harmful greenhouse gas emission during the production of coal tar pitch is emerging as a concern. Research activities have been carried out to develop alternative methods to manufacture aluminum.
Key benefits of the report
- This study presents the analytical depiction of the global coal tar pitch market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global coal tar pitch market share.
- The current market is quantitatively analyzed to highlight the global coal tar pitch market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the global coal tar pitch market research report:
- Which are the leading players active in the global coal tar pitch market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Coal Tar Pitch Market, by Form Report Highlights
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