According to a recent market study published by Growth Market Reports titled, “Global Coal Tar and Coal Tar Pitch Market by Product Type, Grade, Application, and Region: Size, Share, Trends and Opportunity Analysis, 2018-2028”, the market was valued at USD 5,687.1 million in 2019 and is expected to expand at a CAGR of 4.8% by the year 2027.

In terms of volume, the market is projected to expand at a CAGR of 3.3% during the forecast period. The global coal tar and coal tar pitch market is projected to grow owing to the factors such as rising usage coal tar pitch during aluminum production, increasing demand from steel industry, and surging benefits of coal tar for the treatment of various medical conditions such as eczema, psoriasis, and atopic dermatitis.


The global coal tar and coal tar pitch market is fragmented based on product type, grade, application, and region. Based on product type, the global coal tar and coal tar pitch market is segmented into coal tar (50-65% pitch content), partially distilled tar (65-99% pitch content), and pure pitch (100% pitch content). On the basis of grade, the global coal tar and coal tar pitch market is segmented as binder grade and impregnation grade. In terms of application, the global coal tar and coal tar pitch market is segmented into chemicals, pharmaceuticals, consumer goods, construction & roofing, and others.

Based on region, the global coal tar and coal tar pitch market is classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. Europe is further categorized into U.K., France, Germany, Italy, Spain, Romania, Russia, and Rest of Europe, Asia Pacific is further segmented into China, South Korea, Japan, India, Australia, Malaysia, and Rest of Asia Pacific. Latin America is further segmented into Brazil, Mexico, and Rest of Latin America. Middle East & Africa is categorized into Saudi Arabia, South Africa, UAE, and Rest of Middle East & Africa.


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COVID-19 had a negative impact on the overall market. Stringent rules and restrictions during COVID halted the operations of chemical and construction industries. Hence, the demand for coal tar and coal tar pitch reduced in 2020. Moreover, disruptions in supply chains hampered the distribution of coal tar and coal tar pitch across the globe. Furthermore, the complete and partial lockdowns across the country negatively impacted the demand for coal tar and coal tar pitch in 2020.

As per Growth Market Reports’ industry analyst Partha Paul, “The Global Coal Tar and Coal Tar Pitch Market is anticipated to witness significant growth during the forecast period 2020-2027 driven by the high demand for coal tar and coal tar pitch from various end-user industries. Increasing demand for graphite electrodes in electric arc furnace steel production is expected to boost the demand for coal tar pitch in the coming years. According to the American Iron and Steel Institute (AISI), the net raw steel production in the US was around 96.7 million Tons in 2019. Moreover, the US raw steel production capacity utilization rate increased every year since 2015, which in turn, increased the adoption of graphite electrodes. These factors drive the coal tar and coal tar pitch market.

Key Takeaways from the Study

  • The companies such as Rain Industries Limited (Rain Carbon Inc.), C-Chem CO.,Ltd., and Himadri Speciality Chemical Ltd. held approximately one tenth of the share of global coal tar and coal tar pitch market in 2019.
  • Asia Pacific accounts for a major share of the market, followed by Europe. The market in Asia Pacific is projected to expand at the highest CAGR during the forecast period.
  • In North America, the US held the largest market share in 2019 and is expected to continue is dominance during the forecast period, 2020-2027. For instance, according to the recently published news article by the GIE Media, Inc., the EAF-based steelmaking production in the US accounted for 70 percent of the total steel produced in 2019. Thus, the demand for coal tar is expected to increase in the coming years.
  • The trend towards use of high softening point pitches to improve anode quality (high coking value) and reduce polycyclic aromatic hydrocarbon (PAH) emissions is expected to attract various companies involved in anode production thereby, spurring the demand for coal tar pitch.

Report Scope

Report Metric

Details

Market Value in 2019

USD 5,687.1 Million

Market Growth Rate (from 2020 to 2027)

4.8%

Historical Data

2018 & 2019

Base Year

2020

Forecast Period

2021 - 2028

Units Considered

Value (USD Million), Volume ('000 Tons)

Market Segments

Product Type, Grade, and Application

Regional Scope

North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA)

Country Scope

U.S., Canada, Germany, UK, France, Spain, Italy, Romania, Russia, China, Japan, India, Australia, South Korea, Malaysia, Brazil, Mexico, Saudi Arabia, South Africa, UAE

Key Companies Profiled

C-Chem CO.,Ltd., Coopers Creek, Bilbaína de Alquitranes, S.A., Nagreeka Group (Hydrocarbons), Himadri Speciality Chemical Ltd., Koppers, DEZA, Rain Industries Limited (Rain Carbon Inc), Industrial Química, Crowley Chemical Company

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience

  • Supply-side: coal tar and coal tar pitch manufacturers, raw material providers, primary respondents, and distributors.
  • Demand Side: Chemical, pharmaceutical, consumer goods, construction and metallurgy industries
  • Regulatory Side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies.
  • Associations and Industry Bodies: International Tar Association, World Coal Association, American Coal Council, American Exploration & Mining Association, German Coal Association, World Steel Association, The International Aluminum Institute, National Psoriasis Foundation