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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