Coal Tar Pitch Market Report 2025

The coal tar pitch market size has grown strongly in recent years. It will grow from $4.53 billion in 2024 to $4.83 billion in 2025 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to the increasing demand from the aluminum industry, rising use in carbon electrode production, expanding applications in graphite manufacturing, growth in the steel sector, and growing awareness of coal tar pitch properties.

The coal tar pitch market size is expected to see strong growth in the next few years. It will grow to $6.16 billion in 2029 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to rising demand for advanced battery technologies, increasing use in carbon fiber production, expansion of the aluminum smelting industry, growing adoption of aerospace composites, and rising investments in electric vehicle manufacturing. Key trends during this period include advancements in eco-friendly coal tar pitch formulations, innovations in high-performance carbon materials, integration of coal tar pitch in renewable energy applications, advanced processing technologies to enhance pitch quality, and innovations in sustainable sourcing and production methods.

The expansion of aluminum production is expected to drive the growth of the coal-tar-pitch market going forward. Aluminum production involves the industrial extraction and refining of aluminum from raw materials to create usable metal products. This growth is fueled by rising demand from industries such as automotive and construction, which require lightweight and durable materials. Coal tar pitch plays a critical role as a binder and carbon source in aluminum production, aiding in the manufacture of anodes used during the electrolytic smelting process. For example, in January 2025, the United States Geological Survey (USGS), a US-based scientific agency, reported that aluminum production from secondary sources (new scrap) increased to 1.92 million metric tons in 2022 from 1.78 million metric tons in 2021. Therefore, the growth of aluminum production is driving the coal-tar-pitch market.

Leading companies in the coal tar pitch market are expanding domestic production capacities to meet growing industrial demand and reduce reliance on imports. This expansion ensures a stable supply for key sectors such as aluminum, graphite, and infrastructure, while improving cost efficiency and supporting national self-reliance. For instance, in February 2024, VCI Chemicals Ltd., an India-based industrial chemical company, commenced construction of a new 1.1 lakh tonnes per annum (LTPA) coal tar pitch (CTP) plant after obtaining all necessary permits. This facility will significantly enhance domestic coal tar pitch availability, a vital raw material for electrode production and aluminum smelting. The project underscores India’s strategic focus on domestic sourcing amid rising global demand.

In July 2023, Epsilon Carbon Pvt. Ltd., an India-based coal tar pitch manufacturer, partnered with South32 to export liquid coal tar pitch to South32’s operations in South Africa and Mozambique. This collaboration makes Epsilon Carbon the first Indian company to export liquid coal tar pitch internationally. South32 is an Australia-based diversified mining and metals company.

Major players in the coal tar pitch market are Agrofert a.s., Nippon Steel & Sumikin Chemical Co. Ltd., JFE Chemical Corporation, Mitsubishi Chemical Corporation, Koppers Inc., Nagreeka Hydrocarbons Private Limited, Himadri Speciality Chemical Limited, Konark Tar Products Private Limited, Jining Carbon Group Co. Ltd., China Steel Chemical Corporation, Balaji Hydrocarbons Private Limited, Rain Carbon Inc., Epsilon Carbon Private Limited, Industrial Química del Nalón S.A., Porwal Tar Products Private Limited, Lone Star Specialties LLC, Bilbaína de Alquitranes S.A., Jalan Carbons & Chemicals Limited, Xinnuolixing Chemical Co. Ltd., and Coopers Creek Chemical Corporation.

Asia-Pacific was the largest region in the coal tar pitch market in 2024. The regions covered in coal tar pitch report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the coal tar pitch market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s recommendations and conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The intensifying U.S. tariffs and escalating trade tensions in spring 2025 are expected to have a significant impact on the chemicals sector, which is bearing a disproportionate burden, particularly from tariffs on petrochemicals and intermediates, where affordable domestic substitutes are often unavailable. Producers of specialty chemicals, heavily dependent on Chinese raw materials, are experiencing production disruptions. At the same time, fertilizer manufacturers are seeing profit margins eroded due to tariffs on phosphate imports. In response, companies are ramping up R&D into bio-based alternatives, forming procurement alliances to consolidate buying power, and shifting production to tariff-neutral nations such as Saudi Arabia.

Coal tar pitch is a thick, black, viscous substance obtained from the distillation of coal tar. It is mainly used as a binder and raw material in the manufacturing of carbon electrodes, aluminum smelting, and a variety of industrial applications. Its distinct chemical and physical characteristics make it vital for high-temperature processes and advanced material production.

The primary types of coal tar pitch include high-temperature, medium-temperature, and low-temperature coal tar pitch. High-temperature coal tar pitch serves as a carbonaceous binder chiefly used in producing anodes, graphite electrodes, and other high-performance carbon products that require thermal stability above 250°C. The grades include aluminum grade, graphite grade, and special grade, available in multiple forms such as solid and liquid. Applications range from graphite electrodes and carbon electrodes to roofing and paving, paints and coatings, among others. Key end users include the aluminum and steel industries, electric vehicle battery manufacturing, construction, and more.

The coal tar pitch market research report is one of a series of new reports that provides coal tar pitch market statistics, including the coal tar pitch industry global market size, regional shares, competitors with the coal tar pitch market share, detailed coal tar pitch market segments, market trends, and opportunities, and any further data you may need to thrive in the coal tar pitch industry. This coal tar pitch market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The coal tar pitch market consists of sales of mesophase pitch, coal tar pitch modified with additives, and vacuum-distilled coal tar pitch. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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