The global coal tar pitch market size stood at a value of around USD 2.66 Billion in 2024. The market is further expected to grow in the forecast period of 2025-2034 at a CAGR of 4.90% to reach USD 4.29 Billion by 2034.
Heightened Application of Downstream Products of Liquid Coal Tar Pitch to Augment the Global Coal Tar Pitch Industry
Liquid coal tar pitch is used as a base for making paints and coatings. In this regard, the heightened demand for paints and coatings in various industrial sectors such as construction, is driving the segment’s growth. It is also used in roofing and paving of a structure. Hence, the thriving commercial construction sector across the emerging economies is further propelling the demand for liquid coal tar pitch.
The anticipated increase in the utilisation of liquid coal tar pitch as a binder in asphalt products is likely to aid the segment’s growth in the coming years. Over the forecast period, the thriving do-it-yourself sector is likely to accelerate the demand for paints and coatings which is anticipated to be another crucial driving factor of the coal tar pitch market.
The growing expansion of the automotive firms in countries like Japan and South Korea is leading to the technological advancements of automobiles. This is likely to generate a high demand for coal tar pitch in the forecast period.
Over the forecast period, the anticipated increase in demand for electric passenger vehicles is likely to propel the application of coal tar pitch, thereby, boosting the market growth. Moreover, the increasing use of coal tar pitch by construction chemical companies to insulate and expand joint fillers and waterproofing systems is further bolstering the demand for coal tar pitch.
Coal tar pitch is also widely used in the production of refractory materials. Therefore, the anticipated rise in demand for refractory materials in the manufacture of casting glass and metals is likely to be a major driving factor of the market in the coming years.
Heightened Application of Downstream Products of Liquid Coal Tar Pitch to Augment the Global Coal Tar Pitch Industry
Liquid coal tar pitch is used as a base for making paints and coatings. In this regard, the heightened demand for paints and coatings in various industrial sectors such as construction, is driving the segment’s growth. It is also used in roofing and paving of a structure. Hence, the thriving commercial construction sector across the emerging economies is further propelling the demand for liquid coal tar pitch.
The anticipated increase in the utilisation of liquid coal tar pitch as a binder in asphalt products is likely to aid the segment’s growth in the coming years. Over the forecast period, the thriving do-it-yourself sector is likely to accelerate the demand for paints and coatings which is anticipated to be another crucial driving factor of the coal tar pitch market.
The Asia Pacific Region Holds a Significant Share in the Market for Coal Tar Pitch
The market in the region is being driven by the strong foothold of major aluminium manufacturers in India and China’s emerging economies which is leading to an increase in the production capacities. In addition to this, the rapid urbanisation and rapid industrialisation across the continent is likely to generate a significant demand for paints and coatings and aluminium, thereby, bolstering the market growth.The growing expansion of the automotive firms in countries like Japan and South Korea is leading to the technological advancements of automobiles. This is likely to generate a high demand for coal tar pitch in the forecast period.
Market Segmentation
Coal tar is defined as a substance which is a derivative of coal and is obtained as a by-product during the production of coke. Further distillation of coal tar leads to the formation of coal tar pitch which is a thick black liquid used as a base for paints and coats.Market Breakup by Form
- Solid
- Liquid
Market Breakup by Grade
- Aluminium
- Binder and Impregnating
- Special Grade
Market Breakup by Application
- Aluminium Electrode
- Graphite Electrode
- Roofing
- Carbon Fibre
- Refractories
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Increasing Demand for Aluminium to Boost the Growth of the Coal Tar Pitch Industry
Coal tar pitch is used as a binder in the production of carbon anodes which are used in the extraction of aluminium. This makes coal tar pitch a crucial component for the production of aluminium. In this regard, the increasing demand for aluminium in the automotive and industrial construction sector, is driving the demand for the coal tar pitch market.Over the forecast period, the anticipated increase in demand for electric passenger vehicles is likely to propel the application of coal tar pitch, thereby, boosting the market growth. Moreover, the increasing use of coal tar pitch by construction chemical companies to insulate and expand joint fillers and waterproofing systems is further bolstering the demand for coal tar pitch.
Coal tar pitch is also widely used in the production of refractory materials. Therefore, the anticipated rise in demand for refractory materials in the manufacture of casting glass and metals is likely to be a major driving factor of the market in the coming years.
Key Players in the Global Market for Coal Tar Pitch
The report gives a detailed analysis of the following key players in the global coal tar pitch market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:- Bilbaína de Alquitranes, S.A. (BASA)
- Mitsubishi Chemical Corporation
- Rain Carbon Inc.
- DEZA a. s.
- Koppers Holdings Inc.
- Halliburton Company
- BP PLC
- China United Coalbed Methane Corp.
- Petroliam Nasional Berhad (PETRONAS)
- Santos Limited
- Others
Table of Contents
1 Executive Summary
2 Market Overview and Stakeholder Insights
3 Economic Summary
4 Country Risk Profiles
5 Global Coal Tar Pitch Market Analysis
6 North America Coal Tar Pitch Market Analysis
7 Europe Coal Tar Pitch Market Analysis
8 Asia Pacific Coal Tar Pitch Market Analysis
9 Latin America Coal Tar Pitch Market Analysis
10 Middle East and Africa Coal Tar Pitch Market Analysis
11 Market Dynamics
13 Trade Data Analysis
15 Competitive Landscape
Companies Mentioned
- Bilbaína de Alquitranes, S.A. (BASA)
- Mitsubishi Chemical Corporation
- Rain Carbon Inc.
- DEZA a. s.
- Koppers Holdings Inc.
- Halliburton Company
- BP PLC
- China United Coalbed Methane Corp.
- Petroliam Nasional Berhad (PETRONAS)
- Santos Limited
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 171 |
| Published | July 2025 |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
