Coal Tar Pitch Market Size to grow by USD 618.2 million between 2024-2028
According to a research report “ Coal Tar Pitch Market” by Application (Aluminum production, Graphite electrodes and specialty graphite, Carbon processing, Others) Type (Solid coal tar pitch, Liquid coal tar pitch) Geography (APAC, Europe, North America, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 618.2 million, at a CAGR of over 2.19% during the forecast period. Coal tar pitch is a valuable byproduct of coal tar distillation, characterized by its viscous, thick, and black nature. This residue holds significant industrial applications, including its utilization as a binder in asphalt products for road construction, a base for paint and coatings, and a crucial ingredient in the production of aluminum. In aluminum manufacturing, coal tar pitch serves as a binding agent in the fabrication of graphite electrodes for electric arc furnaces in steel plants, and as a component in carbon anodes employed in aluminum smelters. The aluminum smelting process involves the combination of alumina, electricity, and molten cryolite in a reduction cell, with coal tar pitch playing a pivotal role in the production process.
Browse market data tables, figures, and in-depth TOC on “Coal Tar Pitch Market” by Application (Aluminum production, Graphite electrodes and specialty graphite, Carbon processing, Others) Type (Solid coal tar pitch, Liquid coal tar pitch) Geography (APAC, Europe, North America, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample
By Application, the Aluminum production segment is projected to dominate the market size in 2024
Coal tar pitch is a complex mixture of chemicals, primarily consisting of heterocyclic, methyl, and polymethyl derivatives of polycyclic aromatic hydrocarbons (PAHs). This material, which is solid at room temperature, is characterized by a broad softening range rather than a specific melting point. In the aluminum industry, coal tar pitch serves as a crucial binder for the production of electrodes, predominantly made from anthracite coal or petroleum. During the electrode manufacturing process, the components undergo a prolonged heating at high temperatures, resulting in the transformation of these materials into carbon (C). Coal tar pitch's unique properties make it an essential ingredient in the production of high-performance aluminum electrodes.
By Type, Solid coal tar pitch segment is expected to hold the largest market size for the year 2024
The coal tar pitch market is poised for substantial expansion during the forecast period, driven primarily by its integral role in the aluminum industry. In aluminum production, the electrolytic Hall-Heroult process is employed, which necessitates the use of coal tar pitch in the manufacture of cryolite, a sodium-aluminum fluoride bath. During this process, electrical current is passed between a carbon cathode and carbon anode in a cell, resulting in the reduction of alumina to aluminum metal, which deposits on the cathode. Concurrently, carbon anodes are consumed, releasing carbon dioxide (CO2) as a byproduct. Coal tar pitch plays a crucial function in the aluminum production process, making it an essential component for this industry.
APAC is forecasted to hold the largest market size by region in 2024
The Coal Tar Pitch market represents a significant business opportunity for manufacturers and suppliers. This product, derived from coal tar, is widely utilized in various industries, including roofing, paving, and waterproofing. Its unique properties, such as high viscosity and water resistance, make it an indispensable component in these applications. Market growth is driven by infrastructure development and increasing construction activities worldwide. Companies in this sector must focus on innovation, efficiency, and sustainability to remain competitive.
The Coal Tar Pitch Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
Coal tar pitch, a byproduct of coal tar obtained during the coal refining process, plays a significant role in various industries due to its unique properties. One of its primary uses is in the production of electrodes for aluminum smelting. The pitch undergoes fractional distillations to extract aromatics and phenols, which are further processed into chemicals used in electrode manufacturing. The demand for aluminum is surging due to its extensive use in the automotive industry, particularly in the production of lightweight vehicles, autonomous and electric vehicles. Aluminum's low weight and high strength make it an ideal material for vehicle components, contributing to reduced vehicle emissions and improved fuel efficiency. Stringent regulations on vehicle emissions have further boosted demand. In the aluminum industry, coal tar pitch is also used in the production of aluminum, with the pitch serving as a binder in the anode material. The space industry also utilizes coal tar pitch in the production of aluminum for aerospace applications. Overall, the versatility of coal tar pitch in industrial processes continues to make it a valuable commodity.
Market Research Overview
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