Coal Tar Pitch Market Segmentation, Status and Supply Chain Analysis till 2022
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.
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.
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Asia-Pacific accounted for the major share of the coal tar pitch market in 2017 <strong>and</strong> will continue to lead in the forecast<br />
period. The factors that could be attributed to the growth include increasing aluminum production that needs coal tar for<br />
the production of electrodes for the smelting procedure, the surge in use of coal tar pitch in the steel industry, <strong>and</strong> a<br />
substantial increase in the dem<strong>and</strong> for coal tar pitch. Asia-Pacific is followed by North America <strong>and</strong> Asia-Pacific region.<br />
Some of the key players that fuel the growth of the coal tar pitch market comprise NGP Industries Ltd, Koppers Inc.,<br />
Himadri Specialty Chemicals Ltd., Neptune Hydrocarbons, National Aluminum Company Limited (Nalco), Neelachal<br />
Ispat Nigam limited, Crowley Chemical Company, Inc., Bathco Ltd., Heng Shui Zehao Chemicals Co., Ltd. <strong>and</strong> China<br />
Steel Chemical Corporation. The leading companies are taking up partnerships, mergers <strong>and</strong> acquisitions, <strong>and</strong> joint<br />
ventures in order to boost the inorganic growth of the industry.<br />
Get a Sample Copy of This Report @<br />
https://www.millioninsights.com/industry-reports/coal-tar-pitch-market-outlook/request-sample<br />
<strong>Market</strong> Segment:<br />
Key Applications<br />
• Aluminum Industry<br />
• Graphite Electrode<br />
Key Regions<br />
• North America<br />
• Europe<br />
• Asia Pacific<br />
• Middle East <strong>and</strong> Africa<br />
• South America<br />
See More Reports of This Category by Million Insights @<br />
https://www.millioninsights.com/industry/chemicals-<strong>and</strong>-materials<br />
Key Vendors<br />
• Himadri<br />
• JFE<br />
• Koppers
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