In the dynamic and evolving world of business, understanding the latest trends and developments in your sector is a must. Our comprehensive market research report provides indispensable insight into the global coal tar pitch market, a dynamic sector witnessing significant growth and innovation. In this fast-paced market, keeping your business ahead of the curve means being equipped with the most accurate and up-to-date information.
Our report highlights key trends transforming the market, including the rising demand for lightweight vehicles and electric and autonomous cars, and the consequent increase in aluminum production, where coal tar pitch plays a pivotal role. We delve into regional market dynamics, with a special focus on the Asia-Pacific region, assessing its dominant position due to increased demand in various industries. Stay informed and armed with key insights to leverage emerging opportunities in the global coal tar pitch market.
Importantly, our report also provides insightful competitor analysis, enabling your business to strategize effectively and get a competitive edge. Purchase our report today and empower your business with valuable, actionable insights into the global coal tar pitch market.
COVID-19 highly impacted the coal tar pitch market due to a slowdown in vehicle production. However, the rising demand for lightweight vehicles will likely boost the consumption of coal tar pitch for aluminum production.
- The major factor driving the market studied is the surging demand for aluminum in the automotive, aerospace, and space industries owing to its strength and low weight.
- On the flip side, increasing crude oil prices may hamper the overall industry growth.
- The rising demand for electric and autonomous vehicles will offer new growth opportunities to the industry.
- Asia-Pacific dominates the market with the majority of the demand coming from countries such as China and India
Coal Tar Pitch Market Trends
Aluminum Smelting to Dominate the Market
- Aluminum smelting is the largest segment of the coal tar pitch market owing to the demand for aluminum from various industries.
- Globally, aluminum is the second-most-used metal after steel, with an annual consumption of 88 million tons (including scrap). The rise in infrastructure development and automotive production is encouraging development in the metals and mining sector.
- China is the largest producer and consumer of aluminum. In 2021, the production volume of primary aluminum in China was 38.5 million tons, an increase of 3.8 percent compared to 2020.
- The automotive, aerospace, and space industries are the largest consumers of aluminum because of its strength and lightweight.
- In addition, the growing environmental regulations across the globe over the pollution from automobiles also create a huge prospect for the demand for aluminum. Manufacturers have thus begun to switch to aluminum for the weight reduction of automobiles, aircraft, and more. This development has increased the demand for the product during the forecast period.
Asia-Pacific to Dominate the Market
- The Asia-Pacific is expected to dominate the global coal tar pitch market owing to the rising demand for aluminum from the aerospace, automobile, and space industries. The Asia-Pacific also constitutes the largest automotive sector and holds the largest aluminum market share owing to substantial industrial development.
- China is the largest manufacturer of automobiles in the world. The country’s automotive sector has been shaping up for product evolution, with the country focusing on manufacturing products to ensure fuel economy and minimize emissions, owing to the growing environmental concerns due to mounting pollution in the country. However, the market witnessed a shrink in 2018 and 2019, as production decreased by about 4.2% and 7.5%, respectively.
- The country is focusing on the electric vehicles segment to overcome environmental concerns. In April 2020, the central government of China stated that it would extend subsidies and tax breaks for NEV buyers, which include all-electric cars, plug-in hybrids, and fuel cell vehicles, for two more years to stimulate consumption, as these subsidies were previously scheduled to be phased out by the end of 2020.
- The Chinese government currently offers a maximum subsidy of CNY 25,000 (USD 3576) for EVs with a range of over 400 kilometers (250 miles), down by half from CNY 50,000 (USD 7153) after the latest round of reductions in June 2020. This has boosted demand for the graphite electrodes segment of the coal tar pitch market in the country.
- Furthermore, the growing demand for carbon fiber in automotive applications has also caused the demand for the coal tar pitch market in the region to surge.
Coal Tar Pitch Market Competitor AnalysisThe global coal tar pitch market is fragmented in nature. Some of the major companies are Himadri Speciality Chemicals Ltd, Rain Carbon Inc, Bilbaína de Alquitranes, S.A., DEZA a. s, and Mitsubishi Chemical Corporation, among others (not in any particular order).
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Table of Contents1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Growing Demand for Aluminum from various Industries
4.1.2 Other Drivers
4.2.1 Increase in Crude Oil Prices
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Degree of Competition
4.5 Regulatory Policy Analysis
4.6 Technological Snapshot
5 MARKET SEGMENTATION (Market Size in Value)
5.1.1 Aluminium Grade
5.1.2 Binder and Impregnating Grade
5.1.3 Special Grade
5.2.1 Aluminium Smelting
5.2.2 Graphite Electrodes
5.2.4 Carbon Fiber
5.2.6 Other Applications
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
5.3.2 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
5.3.4 South America
126.96.36.199 Rest of South America
5.3.5 Middle-East and Africa
188.8.131.52 Saudi Arabia
184.108.40.206 South Africa
220.127.116.11 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Bathco Ltd
6.4.2 Bilbaina de Alquitranes, S.A.
6.4.3 Coopers Creek chemical corporation
6.4.4 Crowley Chemical Company, Inc.
6.4.5 DEZA a. s
6.4.6 Hengshui Zehao Chemicals Co. Ltd.
6.4.7 Himadri Speciality Chemicals Ltd
6.4.8 JFE Chemical Corporation
6.4.9 Koppers Inc.
6.4.10 Mitsubishi Chemical Corporation.
6.4.11 Neptune Hydrocarbons Mfg. Pvt. Ltd.
6.4.12 Rain Carbon Inc
6.4.13 Shandong Jiefuyi
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Rising Demand for Electric and Autonomous Vehicles
A selection of companies mentioned in this report includes:
- Bathco Ltd
- Bilbaina de Alquitranes, S.A.
- Coopers Creek chemical corporation
- Crowley Chemical Company, Inc.
- DEZA a. s
- Hengshui Zehao Chemicals Co., Ltd.
- Himadri Speciality Chemicals Ltd
- JFE Chemical Corporation
- Koppers Inc.
- Mitsubishi Chemical Corporation.
- Neptune Hydrocarbons Mfg. Pvt. Ltd.
- Rain Carbon Inc
- Shandong Jiefuyi