Coal Tar Pitch Market to Progress at a CAGR of over 4% | Rising Usage of Aluminum Likely to Emerge as Key Driver | Technavio

The global coal tar pitch market size is poised to grow by USD 1.11 billion during 2020-2024, progressing at a CAGR of over 4% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

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Technavio has announced its latest market research report titled Global Coal Tar Pitch Market 2020-2024 (Graphic: Business Wire)

Coal tar pitch has many applications. It is used in paving roads, as a binder in asphalt products, and as a base for paint and coatings. Coal tar pitch is also an important material in the production of aluminum, which is used as a binding agent in the production of graphite electrodes, used in electric arc furnaces in steel plants, and in carbon anodes used in aluminum smelters. Thus, the increasing use of aluminum across various industries will drive the coal tar pitch market growth during the forecast period.

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Report Highlights:

• The major coal tar pitch market growth came from the aluminum smelters segment in 2019, and is expected to witness the fastest growth during the next five years.
• APAC was the largest coal tar pitch market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to the high steel production owing to the growth in the construction industry.
• The global coal tar pitch market is fragmented. C-Chem Co. Ltd., China Steel Chemical Corp., Coopers Creek Chemical Corp., Himadri Speciality Chemical Ltd., Industrial Quimica del Nalon SA, JFE Holdings Inc., Koppers Inc., NLMK Group, Rain Carbon Inc., and Sumitomo Corp. are some of the major market participants. To help clients improve their market position, this coal tar pitch market forecast report provides a detailed analysis of the market leaders.
• As the business impact of COVID-19 spreads, the global coal tar pitch market 2020-2024 is expected to have neutral growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.

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Increasing Use of Coal Tar Pitch in Roofing will be a Key Market Trend

Coal tar pitch is increasingly being used in roofing as it is resistant to harsh chemicals, ultraviolet (UV) rays, and water that may have an adverse impact on the roofing in buildings. No other roofing product can provide the same cold flow/self-healing property as coal tar. Coal tar's self-healing properties and resistance to harmful elements also contribute to making low maintenance roofs. Such beneficial characteristics of coal tar pitch for roofing are promoting their use over alternatives such as TPO.

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Coal Tar Pitch Market 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist coal tar pitch market growth during the next five years
• Estimation of the coal tar pitch market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the coal tar pitch market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of coal tar pitch market vendors

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Executive Summary

Market Landscape

• Market ecosystem
• Market characteristics
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

• Five forces summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Application

• Market segments
• Comparison by Application
• Aluminum smelters - Market size and forecast 2019-2024
• Graphite electrodes - Market size and forecast 2019-2024
• Others - Market size and forecast 2019-2024
• Market opportunity by Application

Customer landscape

• Customer landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• APAC - Market size and forecast 2019-2024
• Europe - Market size and forecast 2019-2024
• North America - Market size and forecast 2019-2024
• MEA - Market size and forecast 2019-2024
• South America - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Vendor landscape
• Landscape disruption
• Competitive scenario

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• C-Chem Co. Ltd.
• China Steel Chemical Corp.
• Coopers Creek Chemical Corp.
• Himadri Speciality Chemical Ltd.
• Industrial Quimica del Nalon SA
• JFE Holdings Inc.
• Koppers Inc.
• NLMK Group
• Rain Carbon Inc.
• Sumitomo Corp.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

About Us

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View source version on businesswire.com: https://www.businesswire.com/news/home/20201020005941/en/