Global Coal Tar Market, By Type (Medium Temperature Coal Tar Pitch, High Temperature Coal Tar Pitch, Low Temperature Coal Tar Pitch, Others), Grade (Aluminium Grade, Binder and Impregnating Grade, Special Grade), Applications (Aluminium Smelting, Graphite Electrodes, Roofing, Carbon Fiber, Refractories, Other Applications), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Coal Tar Market
The coal tar market is expected to witness market growth at a rate of 2.70% in the forecast period of 2021 to 2028 and is expected to reach USD 18.40 billion by 2028. Data Bridge Market Research report on coal tar market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The increasing demand for the product from the end user industries are the major factors driving the coal tar market.
Coal tar refers to a black, thick and viscous, black residue which is left after coal tar distillation. This tar includes chemical compounds such as carcinogens and utilized in many applications including paint and coatings, paving roads and asphalt products. The product is known to play an important role in the production of steel and in the production process of aluminium. Coal tar is extensively utilized as a binding agent in the manufacturing of graphite electrodes that are used in electric arc furnaces in steel plants and in carbon anodes utilized in aluminium smelters.
The increasing demand for aluminium from the automotive, aerospace, and space industries owing to its strength and low weight and the implementation of stringent regulations regarding vehicle emissions making manufacturers adopt lightweight aluminium components are the major factors driving the coal tar market. The growth in the manufacturing industries has increased the demand for carbon raw materials and products including petroleum coke, coal tar, anodes and cathodes and the utilization of the product for the production of electrodes in the aluminium industry due to its economic feasibility and sustainability as a binder further accelerates the coal tar market growth. It is being widely used in various applications such as a base for paint and coatings, as a binder in asphalt products and in paving roads among others and its use in the production of graphite electrodes that are further employed in electric arc furnaces in steel plants and in carbon anodes utilized in aluminium smelters also boosts the coal tar market. Additionally, increasing number of infrastructure projects, rise in demand for light-weight automobile components and the growth of aerospace positively affect the coal tar market. The technological advancement in the application and expansion of end use industries extend profitable opportunities to the coal tar market players in the forecast period of 2021 to 2028.
On the other hand, the production of secondary aluminum (recycled aluminum) that does not require coal tar is expected to obstruct the coal tar market growth. The rise in the concerns regarding the emission of harmful greenhouse gases during the production of coal tar is projected to challenge the coal tar market in the forecast period of 2021 to 2028.
This coal tar market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on coal tar market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Coal Tar Market Scope and Market Size
The coal tar market is segmented on the basis of type, grade and applications. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of type, the coal tar market is segmented into medium temperature coal tar pitch, high temperature coal tar pitch, low temperature coal tar pitch and others.
- On the basis of grade, the coal tar market is segmented into aluminium grade, binder and impregnating grade and special grade.
- On the basis of applications, the coal tar market is segmented into aluminium smelting, graphite electrodes, roofing, carbon fiber, refractories and other applications.
Global Coal Tar Market Country Level Analysis
The coal tar market is analyzed and market size, volume information is provided by country, type, grade and applications as referenced above.
The countries covered in the globally coal tar market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the coal tar market during the forecast period of 2021 to 2028 because of the rising demand of aluminum for the growing demand from aerospace, automobile and space industries, the largest automotive sector, industrial development, increasing the demand for the graphite electrodes and growing demand for carbon fiber in automotive applications in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Coal Tar Market Share Analysis
The coal tar market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to coal tar market.
The major players covered in the coal tar market reports are JFE Holdings, Inc., POSCO, voestalpine AG, Himadri Specialty Chemical Ltd., ArcelorMittal, Lone Star Specialities, LLC, NIPPON STEEL Chemical & Material Co., Ltd., «Severstal», Stella-Jones, Tata Steel, Bathco Ltd., Bilbaína de Alquitranes, S.A., Coopers Creek Chemical Corporation, Crowley Chemical Company, Inc., DEZA a. s., Hengshui Zehao Chemicals Co., Ltd., Koppers Inc., Mitsubishi Chemical Corporation, Zauba Technologies & Data Services Private Limited, Rain Carbon Inc., Shandong Weijiao Holding Group Co., Ltd. among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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