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Coal Tar and Coal Tar Pitch Market Size, Share & Trends 2030

Global Coal Tar and Coal Tar Pitch Market

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Segments - By Product Type (Coal Tar (50-65% Pitch Content), Partially Distilled Tar (65-99% Pitch Content), and Pure Pitch (100% Pitch Content)), Grade (Binder Grade, Impregnation Grade), Application (Chemicals, Pharmaceuticals, Consumer Goods, Construction & Roofing, and Others), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020 – 2027

Report ID: MC-1311
Author: Growth Market Reports

Rating: 4.3
Total Reviews: 78

No. Of Pages: 241
Format:

Pub. Date: 17-05-2021
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Report Description

Coal Tar and Coal Tar Pitch Market Outlook

The global coal tar and coal tar pitch market size was valued at USD 5,687.1 Mn in 2019 and is projected to reach USD 6,231.1 Mn by 2027, expanding at a CAGR of 4.8% during the forecast period, 2020-2027. In terms of volume, the market is expected to expand at a CAGR of 3.3% during the forecast period. Coal tar is derived from coal and is also referred to as crude tar. It is a mixture of hydrocarbons and is produced by the process called pyrolysis of coal.

It is a byproduct of the production of coke. Coal tar pitch is solid at room temperature. Coal tar pitch is a viscous black residue that is left after heat treatment or distillation of coal tar. It has a wide softening range rather than a defined melting temperature. Both coal tar and coal tar pitch are carbon precursors essential for scientific research for the development of new carbon materials as well as for carbon industries.

Coal Tar and Coal Tar Pitch Market Dynamics

The market growth is attributed to the factors such as the increasing use of coal tar pitch for aluminum smelting, growing applications of coal tar pitch in the coatings & paint industry, and rising use of coal tar pitch for the manufacturing of graphite electrodes, as well as in healthcare industry.

Aluminum is produced with the help of anodes in the aluminum smelter. Key components of anodes are petroleum coke and coal tar pitch. The aluminum industry uses carbon pitch for binding purposes in the production of carbon anodes for aluminum smelters. Aluminum smelting is used to extract aluminum from alumina and its oxides. Coal tar pitch is a key raw material for binding carbon anodes during aluminum production. Increasing global aluminum production is expected to drive the market in the projected years.

According to the survey by The Aluminum Association, Inc., the estimated annual rate of primary aluminum production was 1,132.3 thousand metric tons (kmt) in the US in March 2020. Additionally, according to the India Brand Equity Foundation (IBEF), the combined aluminum production in India stood at 3.6 million Tons (MT) in 2020. India is the third largest producer of coal with a production of 729.10 million Tons (MT) in 2020. These factors are expected to increase the demand for coal tar pitch in the aluminum industry during the forecast period.

Additionally, according to the USGS (U.S. Geological Survey) Mineral Commodity Statistics, in 2019, aluminum smelter production in China and Russia stood at 36,000 thousand metric Tons and 3,600 thousand metric tons respectively. Moreover, the worldwide production capacity for smelter production is estimated to be around 77,900 thousand metric Tons in 2019. Thus, the above-mentioned factors are driving the demand for coal tar pitch across the globe.

Coal tar belongs to a class of drugs called keratoplastics. It is used for the treatment of skin conditions including eczema, psoriasis, seborrheic dermatitis, and other skin disorders. Coal tar is only available with a doctor's prescription for some of these medical conditions.

However, it is purchased over the counter in shampoos, lotions, creams, or foam for use in various applications. It functions by causing the skin's top layer to shed dead cells, thereby, slowing the growth of cells in the skin. As a result, the dryness and scaling of the skin are reduced. Coal tar decreases itchiness in skin conditions. Thus, the demand for coal tar from the healthcare industry is expected to increase in the forthcoming years.

Moreover, the increasing focus of manufacturers on providing coal tar in various forms such as shampoo, foam, ointment, liquid, solution, lotion, and gel/jelly is expected to attract a large customer base across the world. For instance, Lake Consumer Products, Inc. (a US-based company) manufactures and distributes a ‘Non-Drying Multi-Symptom Coal Tar Gel’ that helps to relieve itching, scaling, and redness, thereby reducing inflammation and irritation.

However, side effects associated with coal tar exposure is expected to hinder the market growth during the forecast period. Coal tar pitch volatiles (CTPVs) are generated when coal tar or coal tar pitch is heated. When workers are exposed to these airborne CTPVs, it has a negative impact on their health. According to the National Cancer Institute, work-related exposure to coal tar or coal tar pitch increases the threat of skin cancer.

Moreover, several other types of cancer such as digestive tract, bladder, lung, and kidney cancers are linked to exposure to coal tar pitch. Additional health effects associated with short-term exposure to coal tar pitch include eye & respiratory tract irritation, convulsions, and severe burns. Such health hazards associated with exposure of coal tar during the production process hamper the market.

Coal Tar and Coal Tar Pitch Market Segmental Outlook

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). The coal tar (50-65% pitch content) segment held a considerable share of the market in 2019 and is anticipated to expand at a significant CAGR during the forecast period.

The large share of the coal tar (50-65% pitch content) segment is attributed to the increasing production of aluminum across the globe. For instance, according to the US Geological Survey’s 2020 report on aluminum, countries such as China, Russia, India, Canada, UAE, and Australia are considered as the top aluminum-producing countries worldwide. These countries are expected to significantly contribute to the segmental growth during the forecast period.

On the basis of grade, the global coal tar and coal tar pitch market is segmented as binder grade and impregnation grade. The binder grade segment held the largest share of the market in 2019 and is anticipated to expand at a higher CAGR during the forecast period. The large share of the binder grade segment is attributed to the increasing need of binder grade of coal tar pitch for aluminum and steel industries. Moreover, the high quinoline insoluble content in this grade as compared to the impregnation grade is expected to drive the segment in the upcoming years.

In terms of application, the global coal tar and coal tar pitch market is segmented into chemicals, pharmaceuticals, consumer goods, construction & roofing, and others. The construction & roofing segment is projected to expand at a highest CAGR during the forecast period. The growth is attributed to the waterproofing nature of the coal tar and its self-healing properties that repair small deformities created by surface punctures. Additionally, the long-lasting properties of coal tar are expected to increase its use in construction and roofing activities during the forecast period.

Regional Outlook

Based on regions, the global coal tar and coal tar pitch market is segmented as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific accounted for a significant market share in 2019 and is expected to expand at the highest CAGR during the forecast period, 2020-2027. Large market share of Asia Pacific is attributed to the strong presence of countries producing primary aluminum in the region.

For instance, according to the statistics from the Government of Canada, in 2019, the production of primary aluminum in China, India, and Australia stood at 36,000, 3,700, and 1,600 thousand tonnes. Primary aluminum production in these countries accounted for around 64% of the total primary aluminum production worldwide. Coal tar pitch is a key raw material used in the production of aluminum; hence its demand is expected to increase in this region during the forecast period.

Key Benefits for Industry Participants & Stakeholders

In-depth Analysis of the Global Coal Tar and Coal Tar Pitch Market
Historical, Current, and Projected Market Size in terms of Value and Volume
Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
Industry Drivers, Restraints and Opportunities Covered in the Study
Recent Industry Trends and Developments
Competitive Landscape & Strategies of Key Players
Neutral Perspective on Global Coal Tar and Coal Tar Pitch Market Performance

Segments

Product Type

Coal Tar (50-65% Pitch Content)
Partially Distilled Tar (65-99% Pitch Content)
Pure Pitch (100% Pitch Content)

Grade

Binder Grade
Impregnation Grade

Application

Chemicals
Pharmaceuticals
Consumer Goods
Construction & Roofing
Others

Region

North America
- U.S.
- Canada
Europe
- Germany
- France
- Italy
- U.K.
- Spain
- Romania
- Russia
- Rest of the Europe
Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Malaysia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- South Africa
- UAE
- Rest of Middle East & Africa

Key Market Players Profiled in the Report

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

Competitive Landscape

Key players in the market include Rain Industries Limited (Rain Carbon Inc.), Himadri Speciality Chemical Ltd, Koppers, C-Chem CO.,Ltd., and Bilbaína de Alquitranes, S.A. These companies are considered as key manufacturers of coal tar and coal tar pitch based on their revenue, research & development (R&D) activities, and regional presence. The players are adopting key strategies such as merger, acquisition, and geographical expansion in order to strengthen their market position.

C-Chem Co., Ltd, and Fangda Carbon New Material Co., entered into a conclusive agreement to with Ltd. Koppers Holdings Inc. (NYSE: KOP) to buy Koppers (Jiangsu) Carbon Chemical Company Limited (KJCC), to in order to focus on its portfolio. KJCC is a tar distillation facility situated in Pizhou City, China.

Coal Tar And Coal Tar Pitch Market Key Players

Table Of Content

Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Coal Tar and Coal Tar Pitch Market Overview
   4.1 Introduction
      4.1.1 Market Taxonomy
      4.1.2 Market Definition
      4.1.3 Macro-Economic Factors Impacting the Market Growth
   4.2 Coal Tar and Coal Tar Pitch Market Dynamics
      4.2.1 Market Drivers
      4.2.2 Market Restraints
      4.2.3 Market Opportunity
   4.3 Coal Tar and Coal Tar Pitch Market - Supply Chain Analysis
      4.3.1 List of Key Suppliers
      4.3.2 List of Key Distributors
      4.3.3 List of Key Consumers
   4.4 Key Forces Shaping the Coal Tar and Coal Tar Pitch Market
      4.4.1 Bargaining Power of Suppliers
      4.4.2 Bargaining Power of Buyers
      4.4.3 Threat of Substitution
      4.4.4 Threat of New Entrants
      4.4.5 Competitive Rivalry
   4.5 Global Coal Tar and Coal Tar Pitch Market Size & Forecast, 2017-2027
      4.5.1 Coal Tar and Coal Tar Pitch Market Size and Y-o-Y Growth
      4.5.2 Coal Tar and Coal Tar Pitch Market Absolute $ Opportunity
   4.6 Pricing Analysis & Forecast, By Product Type & Region, 2017-2027
   4.7 Global Coal Tar and Coal Tar Pitch Market: Impact Of Key Regulations
   4.8 Coal Tar and Coal Tar Pitch: Technical Specifications
Chapter 5 Global Coal Tar and Coal Tar Pitch Market Analysis and Forecast By Product Type
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities By Product Type
      5.1.2 Basis Point Share (BPS) Analysis By Product Type
      5.1.3 Absolute $ Opportunity Assessment By Product Type
   5.2 Coal Tar and Coal Tar Pitch Market Size & Volume Forecast By Product Type
      5.2.1 Coal Tar (50-65% Pitch Content)
      5.2.2 Partially Distilled Tar (65-99% Pitch Content)
      5.2.3 Pure Pitch (100% Pitch Content)
   5.3 Market Attractiveness Analysis By Product Type
Chapter 6 Global Coal Tar and Coal Tar Pitch Market Analysis and Forecast By Grade
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities By Grade
      6.1.2 Basis Point Share (BPS) Analysis By Grade
      6.1.3 Absolute $ Opportunity Assessment By Grade
   6.2 Coal Tar and Coal Tar Pitch Market Size & Volume Forecast By Grade
      6.2.1 Binder Grade
      6.2.2 Impregnation Grade
   6.3 Market Attractiveness Analysis By Grade
Chapter 7 Global Coal Tar and Coal Tar Pitch Market Analysis and Forecast By Application
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities By Application
      7.1.2 Basis Point Share (BPS) Analysis By Application
      7.1.3 Absolute $ Opportunity Assessment By Application
   7.2 Coal Tar and Coal Tar Pitch Market Size & Volume Forecast By Application
      7.2.1 Chemicals
      7.2.2 Pharmaceuticals
      7.2.3 Consumer Goods
      7.2.4 Construction & Roofing
      7.2.5 Others
   7.3 Market Attractiveness Analysis By Application
Chapter 8 Global Coal Tar and Coal Tar Pitch Market Analysis and Forecast by Region
   8.1 Introduction
      8.1.1 Key Market Trends & Growth Opportunities by Region
      8.1.2 Basis Point Share (BPS) Analysis by Region
      8.1.3 Absolute $ Opportunity Assessment by Region
   8.2 Coal Tar and Coal Tar Pitch Market Size & Volume Forecast by Region
      8.2.1 North America
      8.2.2 Europe
      8.2.3 Asia Pacific
      8.2.4 Latin America
      8.2.5 Middle East & Africa (MEA)
   8.3 Market Attractiveness Analysis by Region
Chapter 9 Coronavirus Disease (COVID-19) Impact
9.1 Introduction
   9.2 Current & Future Impact Analysis
   9.3 Economic Impact Analysis
   9.4 Government Policies
   9.5 Investment Scenario
Chapter 10 North America Coal Tar and Coal Tar Pitch Analysis and Forecast
   10.1 Introduction
   10.2 North America Coal Tar and Coal Tar Pitch Market Size & Volume Forecast by Country
      10.2.1 U.S.
      10.2.2 Canada
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 North America Coal Tar and Coal Tar Pitch Market Size & Volume Forecast By Product Type
      10.6.1 Coal Tar (50-65% Pitch Content)
      10.6.2 Partially Distilled Tar (65-99% Pitch Content)
      10.6.3 Pure Pitch (100% Pitch Content)
   10.7 Basis Point Share (BPS) Analysis By Product Type
   10.8 Absolute $ Opportunity Assessment By Product Type
   10.9 Market Attractiveness Analysis By Product Type
   10.10 North America Coal Tar and Coal Tar Pitch Market Size & Volume Forecast By Grade
      10.10.1 Binder Grade
      10.10.2 Impregnation Grade
   10.11 Basis Point Share (BPS) Analysis By Grade
   10.12 Absolute $ Opportunity Assessment By Grade
   10.13 Market Attractiveness Analysis By Grade
   10.14 North America Coal Tar and Coal Tar Pitch Market Size & Volume Forecast By Application
      10.14.1 Chemicals
      10.14.2 Pharmaceuticals
      10.14.3 Consumer Goods
      10.14.4 Construction & Roofing
      10.14.5 Others
   10.15 Basis Point Share (BPS) Analysis By Application
   10.16 Absolute $ Opportunity Assessment By Application
   10.17 Market Attractiveness Analysis By Application
Chapter 11 Europe Coal Tar and Coal Tar Pitch Analysis and Forecast
   11.1 Introduction
   11.2 Europe Coal Tar and Coal Tar Pitch Market Size & Volume Forecast by Country
      11.2.1 Germany
      11.2.2 France
      11.2.3 Italy
      11.2.4 U.K.
      11.2.5 Spain
      11.2.6 Romania
      11.2.7 Russia
      11.2.8 Rest of Europe
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Europe Coal Tar and Coal Tar Pitch Market Size & Volume Forecast By Product Type
      11.6.1 Coal Tar (50-65% Pitch Content)
      11.6.2 Partially Distilled Tar (65-99% Pitch Content)
      11.6.3 Pure Pitch (100% Pitch Content)
   11.7 Basis Point Share (BPS) Analysis By Product Type
   11.8 Absolute $ Opportunity Assessment By Product Type
   11.9 Market Attractiveness Analysis By Product Type
   11.10 Europe Coal Tar and Coal Tar Pitch Market Size & Volume Forecast By Grade
      11.10.1 Binder Grade
      11.10.2 Impregnation Grade
   11.11 Basis Point Share (BPS) Analysis By Grade
   11.12 Absolute $ Opportunity Assessment By Grade
   11.13 Market Attractiveness Analysis By Grade
   11.14 Europe Coal Tar and Coal Tar Pitch Market Size & Volume Forecast By Application
      11.14.1 Chemicals
      11.14.2 Pharmaceuticals
      11.14.3 Consumer Goods
      11.14.4 Construction & Roofing
      11.14.5 Others
   11.15 Basis Point Share (BPS) Analysis By Application
   11.16 Absolute $ Opportunity Assessment By Application
   11.17 Market Attractiveness Analysis By Application
Chapter 12 Asia Pacific Coal Tar and Coal Tar Pitch Analysis and Forecast
   12.1 Introduction
   12.2 Asia Pacific Coal Tar and Coal Tar Pitch Market Size & Volume Forecast by Country
      12.2.1 China
      12.2.2 Japan
      12.2.3 South Korea
      12.2.4 India
      12.2.5 Australia
      12.2.6 Malaysia
      12.2.7 Rest of Asia Pacific (APAC)
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Asia Pacific Coal Tar and Coal Tar Pitch Market Size & Volume Forecast By Product Type
      12.6.1 Coal Tar (50-65% Pitch Content)
      12.6.2 Partially Distilled Tar (65-99% Pitch Content)
      12.6.3 Pure Pitch (100% Pitch Content)
   12.7 Basis Point Share (BPS) Analysis By Product Type
   12.8 Absolute $ Opportunity Assessment By Product Type
   12.9 Market Attractiveness Analysis By Product Type
   12.10 Asia Pacific Coal Tar and Coal Tar Pitch Market Size & Volume Forecast By Grade
      12.10.1 Binder Grade
      12.10.2 Impregnation Grade
   12.11 Basis Point Share (BPS) Analysis By Grade
   12.12 Absolute $ Opportunity Assessment By Grade
   12.13 Market Attractiveness Analysis By Grade
   12.14 Asia Pacific Coal Tar and Coal Tar Pitch Market Size & Volume Forecast By Application
      12.14.1 Chemicals
      12.14.2 Pharmaceuticals
      12.14.3 Consumer Goods
      12.14.4 Construction & Roofing
      12.14.5 Others
   12.15 Basis Point Share (BPS) Analysis By Application
   12.16 Absolute $ Opportunity Assessment By Application
   12.17 Market Attractiveness Analysis By Application
Chapter 13 Latin America Coal Tar and Coal Tar Pitch Analysis and Forecast
   13.1 Introduction
   13.2 Latin America Coal Tar and Coal Tar Pitch Market Size & Volume Forecast by Country
      13.2.1 Brazil
      13.2.2 Mexico
      13.2.3 Rest of Latin America (LATAM)
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Latin America Coal Tar and Coal Tar Pitch Market Size & Volume Forecast By Product Type
      13.6.1 Coal Tar (50-65% Pitch Content)
      13.6.2 Partially Distilled Tar (65-99% Pitch Content)
      13.6.3 Pure Pitch (100% Pitch Content)
   13.7 Basis Point Share (BPS) Analysis By Product Type
   13.8 Absolute $ Opportunity Assessment By Product Type
   13.9 Market Attractiveness Analysis By Product Type
   13.10 Latin America Coal Tar and Coal Tar Pitch Market Size & Volume Forecast By Grade
      13.10.1 Binder Grade
      13.10.2 Impregnation Grade
   13.11 Basis Point Share (BPS) Analysis By Grade
   13.12 Absolute $ Opportunity Assessment By Grade
   13.13 Market Attractiveness Analysis By Grade
   13.14 Latin America Coal Tar and Coal Tar Pitch Market Size & Volume Forecast By Application
      13.14.1 Chemicals
      13.14.2 Pharmaceuticals
      13.14.3 Consumer Goods
      13.14.4 Construction & Roofing
      13.14.5 Others
   13.15 Basis Point Share (BPS) Analysis By Application
   13.16 Absolute $ Opportunity Assessment By Application
   13.17 Market Attractiveness Analysis By Application
Chapter 14 Middle East & Africa (MEA) Coal Tar and Coal Tar Pitch Analysis and Forecast
   14.1 Introduction
   14.2 Middle East & Africa (MEA) Coal Tar and Coal Tar Pitch Market Size & Volume Forecast by Country
      14.2.1 Saudi Arabia
      14.2.2 South Africa
      14.2.3 UAE
      14.2.4 Rest of Middle East & Africa (MEA)
   14.3 Basis Point Share (BPS) Analysis by Country
   14.4 Absolute $ Opportunity Assessment by Country
   14.5 Market Attractiveness Analysis by Country
   14.6 Middle East & Africa (MEA) Coal Tar and Coal Tar Pitch Market Size & Volume Forecast By Product Type
      14.6.1 Coal Tar (50-65% Pitch Content)
      14.6.2 Partially Distilled Tar (65-99% Pitch Content)
      14.6.3 Pure Pitch (100% Pitch Content)
   14.7 Basis Point Share (BPS) Analysis By Product Type
   14.8 Absolute $ Opportunity Assessment By Product Type
   14.9 Market Attractiveness Analysis By Product Type
   14.10 Middle East & Africa (MEA) Coal Tar and Coal Tar Pitch Market Size & Volume Forecast By Grade
      14.10.1 Binder Grade
      14.10.2 Impregnation Grade
   14.11 Basis Point Share (BPS) Analysis By Grade
   14.12 Absolute $ Opportunity Assessment By Grade
   14.13 Market Attractiveness Analysis By Grade
   14.14 Middle East & Africa (MEA) Coal Tar and Coal Tar Pitch Market Size & Volume Forecast By Application
      14.14.1 Chemicals
      14.14.2 Pharmaceuticals
      14.14.3 Consumer Goods
      14.14.4 Construction & Roofing
      14.14.5 Others
   14.15 Basis Point Share (BPS) Analysis By Application
   14.16 Absolute $ Opportunity Assessment By Application
   14.17 Market Attractiveness Analysis By Application
Chapter 15 Competition Landscape
   15.1 Coal Tar and Coal Tar Pitch Market: Competitive Dashboard
   15.2 Global Coal Tar and Coal Tar Pitch Market: Market Share Analysis, 2019
   15.3 Company Profiles (Details - Overview, Financials, Developments, Strategy)
      15.3.1 C-Chem CO.,Ltd.
      15.3.2 Coopers Creek
      15.3.3 Bilbaína de Alquitranes, S.A.
      15.3.4 Nagreeka Group (Hydrocarbons)
      15.3.5 Himadri Speciality Chemical Ltd.
      15.3.6 Koppers
      15.3.7 DEZA
      15.3.8 Rain Industries Limited (Rain Carbon Inc)
      15.3.9 Industrial Química
      15.3.10 Crowley Chemical Company

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FAQ Section

Some frequently asked quetions about this report!

1. Who are the major players operating in the market?

Major players include Rain Industries Limited (Rain Carbon Inc.), Himadri Speciality Chemical Ltd, Koppers, C-Chem CO.,Ltd., and Bilbaína de Alquitranes, S.A.

2. Who are the key end-users driving the market growth?

The key end users of coal tar and coal tar pitch are the industries such as chemical, construction & roofing, metallurgy, pharmaceutical, and consumer goods.

3. Which is the base year calculated in the global coal tar and coal tar pitch market report and what is analysis period?

The base year considered for the global coal tar and coal tar pitch market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years and the forecast is provided from 2020 to 2027.

4. What is the impact of COVID-19 on the overall market during year 2019 -2020?

The market is expected to witness a decline of 21.2% in 2020 as compared to 2019 owing to the negative impact of COVID-19.

5. What is the criteria used for selecting company profile?

Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.

6. What are the factors driving the growth of coal tar and coal tar pitch market?

The growth of coal tar and coal tar pitch market is driven by the factors such as increasing use of coal tar pitch for aluminum smelting, growing applications of coal tar pitch in coatings & paint industry, and rising use of coal tar pitch for the manufacturing of graphite electrodes, as well as in healthcare industry.