Coal Tar Pitch Market Report 2026

The coal tar pitch market size has grown strongly in recent years. It will grow from $4.83 billion in 2025 to $5.14 billion in 2026 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to growth in steel production, expansion of aluminum smelting, availability of coal tar byproducts, demand for carbon electrodes, industrial roofing applications.

The coal tar pitch market size is expected to see strong growth in the next few years. It will grow to $6.54 billion in 2030 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to growth in electric vehicle batteries, rising demand for graphite electrodes, expansion of renewable energy storage, infrastructure development projects, advancements in carbon material processing. Major trends in the forecast period include rising demand for graphite electrodes, growing use in aluminum smelting, expansion of carbon based materials, increasing application in ev battery manufacturing, focus on high temperature performance materials.

The growth of aluminum production is expected to drive the expansion of the coal-tar-pitch market in the coming years. Aluminum production involves the industrial extraction and refining of aluminum from raw materials to produce usable metal products. The increase in aluminum production is fueled by rising demand from sectors such as automotive and construction, which require lightweight and durable materials. Coal-tar pitch serves as a critical binder and carbon source in aluminum manufacturing, supporting the production of anodes used in the electrolytic smelting process. For instance, in January 2025, according to the United States Geological Survey (USGS), a US-based government scientific agency, secondary aluminum production from scrap (new and old scrap) increased, with 2024 data showing a 5% rise compared to 2023, reflecting a rebound in aluminum output and scrap-based aluminum supply. Therefore, the expansion of aluminum production is contributing to the growth of 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 companies operating in the coal tar pitch market are Koppers Inc., Rain Carbon Inc., Himadri Speciality Chemical Limited, Epsilon Carbon Private Limited, Mitsubishi Chemical Corporation, JFE Chemical Corporation, Nippon Steel & Sumikin Chemical Co. Ltd., China Steel Chemical Corporation, Bilbaína de Alquitranes S.A., Industrial Química del Nalón S.A., Jalan Carbons & Chemicals Limited, Jining Carbon Group Co. Ltd., Konark Tar Products Private Limited, Nagreeka Hydrocarbons Private Limited, Balaji Hydrocarbons Private Limited, Porwal Tar Products Private Limited, Xinnuolixing Chemical Co. Ltd., Coopers Creek Chemical Corporation, Agrofert a.s., Lone Star Specialties LLC, ENEOS Corporation.

Asia-Pacific was the largest region in the coal tar pitch market in 2025. The regions covered in the coal tar pitch market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the coal tar pitch market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

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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