Report Code: A08218 | Pages: NA | Mar 2023 | 1173 Views | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Coal Tar Pitch Market
Request Now !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.
The mining sector has been severely impacted by the outbreak of the COVID-19 pandemic. Â 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.
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.Â
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Coal Tar Pitch Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights
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Key Market Players | Rain Industries Limited, Shanghai Baosteel Chemical Co. Ltd, Koppers Inc., Himadri Specialty Chemicals Ltd., Carbochimica, JFE Holdings Inc., Bathco Ltd., Crowley Chemical Company Inc., China Steel Chemical Corporation, Deza, Nippon Steel |
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