Menu ×

CHEMICALS AND ADVANCED MATERIALS

Coal Tar Pitch (CTP) Market Segmentation By Grade Type (Aluminum, Graphite and Others) and By Application (Graphite Electrode, Roofing & Paving, Paint & Coatings, Carbon Electrode and Others) – Global Demand Analysis & Opportunity Outlook 2028

  • Text Size:

Extensive insights into the Growth of Coal Tar Pitch (CTP) Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

Read More
IN THE NEWS
  • January 2017: National Aluminium Company Limited (NALCO) announced that it has signed a Memorandum of Understanding (MoU) with Neelachal Ispat Nigam Limited (NINL) for setting upon a joint venture company for producing coal tar pitch in Kalinga Nagar, Odisha (India).

Introduction to Coal Tar Pitch (CTP)

Coal tar pitch (CTP) is an industrial product derived from the distillation of coal tar. Coal tar is referred to the thick dark liquid which is produced as a by-product during the production of coke and coal gas from coal. CTP is used primarily in the production of aluminium, graphite and other specialty chemicals. CTP is liquid in nature which predominantly contains a mixture of bi- and poly-condensed aromatic hydrocarbons. The tar is also known to have compounds with heteroatoms in rings and phenols. The typical physical properties of coal tar pitch are as follows:

Typical Properties of coal Tar Pitch Graph

Schematic Diagram for the production Graph

Market Size and Forecast

The global coal tar pitch (CTP) market is thriving on the back of growing infrastructural developments around the globe which is raising the demand for products, such as aluminium and steel. Additionally, growing production of aluminium and steel worldwide is also anticipated to promote towards the growth of the global coal tar pitch (CTP) market. According to the International Aluminium Institute, total production of aluminium in the world increased from 42,353 thousand metric tonnes in the year 2010 to 64,336 thousand metric tonnes in the year 2018.

Aluminium Production GraphMoreover, according to the World Steel Association AISBL, total crude steel production around the world increased from 1433 million tonnes in the year 2010 to 1808 million tonnes in the year 2018.CLICK TO DOWNLOAD FREE SAMPLE

Annual Crude Steel Production GraphThe global coal tar pitch (CTP) market is anticipated to record a CAGR of around 6% throughout the forecast period, i.e. 2020-2028. The market is segmented by grade type into aluminium, graphite and others, out of which, aluminium segment is anticipated to hold the largest market share on the back of growing aluminium industry, and thereby the increase in demand for carbon raw materials and products such as petroleum coke, coal tar pitch, anodes and cathodes amongst others. For the production of aluminium in the aluminium industry, merely 80% of coal tar pitch is being used. This can be attributed to factors such as economic feasibility and sustainability of CTPs as a binder over other alternative chemicals.

Global Coal TAR pitch Market image

Growth Drivers

Rising Need for Aluminium from The Growing Automobile Industry

According to the statistics by the International Organization of Motor Vehicle Manufacturers (OICA), total vehicle produced in the world increased from 77.6 million units in the year 2010 to 95.6 million units in the year 2018.

total vehicle production Graph

The demand for automobiles has seen an exponential growth over the years on the back of rising household disposable income along with the increasing need amongst individuals for various means of transport. But, over the years, owing to high vehicular emission, stringent norms have been developed by nations across the globe as a measure to reduce the pollution from vehicles on road. One such important measures taken by the government of nations worldwide is the reduction of the overall curb weight of the vehicle, for which, there is an upsurge in demand for lightweight metals, such as aluminium by the vehicle manufacturers. The steady growth observed in the automobile industry and the increasing production of automobiles around the world is thereby anticipated to drive the demand for aluminium, which in turn will require metal manufacturers to produce aluminium in greater quantity, thereby benefitting the growth of the global coal tar pitch market.

Growing Demand for CTP in the Paints and Coatings Industry

CTP is widely used as a base in the manufacturing of paints and coatings, the market of which is anticipated to grow at a CAGR of 5.3% over the forecast period 2019-2027. This can be attributed to the growing building and construction industry, followed by the expanding automotive and aerospace industry, where paints and coatings are used extensively. Such a factor is anticipated to drive the growth of the global CTP market.

Increasing Demand for CTP for the Manufacturing of Graphite Electrodes in Electric Arc Furnace

Several nations around the world have imposed stringent norms to regulate the process of melting materials, for instance, furnaces that are used in the production of metals, such as steel. As such, manufacturers using furnaces worldwide have shifted to electric arc furnace (EAF), which uses graphite electrodes to melt the materials provided inside the furnace. Graphite electrodes are made by the utilization of a binder-grade coal tar pitch (CTP) and calcined needle coke, followed by impregnation-grade CTP. The upsurge in demand for graphite electrodes worldwide and the rising consumption of CTPs for the manufacturing of graphite electrodes is thereby anticipated to drive the growth of the global coal tar pitch (CTP) market in the upcoming years.

Restraints

Concerns for GHG Emissions

Rising concern amongst nations worldwide for the high emissions of greenhouse gases (GHGs) obtained during the process of manufacturing of CTP along with the health risks associated when exposed to CTP are some of the factors anticipated to hamper the growth of the global coal tar pitch market. Moreover, increasing research for secondary aluminium, which doesn’t require the utilization of coal tar pitch, might impact negatively towards the consumption of CTPs. Such a factor is also anticipated to act as a key restraint factor towards the growth of the global CTG market in the upcoming years.

Market Segmentation

Our in-depth analysis of the global coal tar pitch (CTP) market includes the following segments:

By Grade Type

  • Aluminum
  • Graphite
  • Others

By Application

  • Graphite Electrode
  • Roofing & Paving
  • Paint & Coatings
  • Carbon Electrode
  • Others

By Region

On the basis of regional analysis, the global coal tar pitch (CTP) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.

Asia Pacific is anticipated to hold the largest market share on the back of increasing demand for primary aluminium in the region from end user industries, such as automotive, aerospace, building and construction and several others, along with the presence of several nations in the region, such as China, India and Japan, which are known to be the major steel producers in the world. Additionally, increasing expenditure by the government of the nations in the region to promote the construction of several architectural structures, is raising the demand for greater consumption of steel and aluminium, which is anticipated to further drive the growth of the coal tar pitch (CTP) market in the upcoming years in the region. According to the statistics by the World Steel Association AISBL, China, India and Japan took the top three positions respectively for the production of steel in the year 2018. The three nations produced 928.3, 106.5 and 104.3 million tonnes of crude steel respectively.

The global coal tar pitch (CTP) market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Top Featured Companies Dominating the Market


Related Reports


Disclaimer | Privacy Policy | Terms & Conditions

Copyright © 2020 Research Nester. All Rights Reserved