Global coal
tar pitch market is anticipated to witness an exponential
growth in the forecast period. Coal-tar pitch is the residue of distillation of
the coal tar, which is thick black liquid in color. It is mainly used as a base
for the paving, roofing, and for the base of coatings and paints and as a
binder in asphalt products.
The factors that propel the growth of the
market include growing demand for aluminum across numerous end-use industries
such as packaging, automotive and others, increasing demand, technological
advancement, and coal tar pitch is also progressively being used as a roofing
material. On the other hand, there are factors that may hamper the growth of
the market including the use of substitute materials such as thermoplastic
olefin (TPO). The market is anticipated to expand at a significant CAGR in the
upcoming period as the scope, product types, and its applications are
increasing across the globe.
Get Sample Copy of this Report @
The new trend in the coal tar pitch
market is emphasis on research and developmental process to drive the
effectiveness of the pitch. Manufacturers are concentrating on the reduction of
toxicity and improving the durability and longevity of the material. The market
could be explored by form, grade, application, and geography. Market could be
explored by form as Liquid and Solid. Based on grade, the market could span
Special grade, Aluminum grade, and Graphite grade. The key applications that
could be explored in the market include Lining of the blast furnace, Graphite
electrodes, Chemical intermediate, Carbon electrodes, and Roofing.
Asia-Pacific accounted for the major
share of the coal tar pitch market in 2017 and will continue to lead in the
forecast period. The factors that could be attributed to the growth include
increasing aluminum production that needs coal tar for the production of
electrodes for the smelting procedure, the surge in use of coal tar pitch in
the steel industry, and a substantial increase in the demand for coal tar
pitch. Asia-Pacific is followed by North America and Asia-Pacific region.
Some of the key players that fuel the
growth of the coal tar pitch market comprise NGP Industries Ltd, Koppers Inc.,
Himadri Specialty Chemicals Ltd., Neptune Hydrocarbons, National Aluminum
Company Limited (Nalco), Neelachal Ispat Nigam limited, Crowley Chemical Company,
Inc., Bathco Ltd., Heng Shui Zehao Chemicals Co., Ltd. and China Steel Chemical
Corporation. The leading companies are taking up partnerships, mergers and
acquisitions, and joint ventures in order to boost the inorganic growth of the
industry.
Browse Related Category Market
Reports @
No comments:
Post a Comment