Coal Tar Pitch Market Segmentation:
Grade Segment Analysis
The aluminum segment is projected to account for an 82% share of the coal tar pitch market by 2035. The increasing utilization of aluminum across various sectors, including automotive, aerospace, and building & construction, is a significant factor propelling this segment. In the aluminum industry, coal tar pitch is used as a binder for anodes in the manufacture of aluminum electrolysis. This app is a must for aluminum smelters, as aluminum grade coal tar pitch is what you need. The Aluminum Association represents 70% of North America’s aluminum shipments, driving $228 billion in U.S. economic activity and nearly 700,000 jobs. Over the past decade, aluminum companies invested $10 billion in U.S. manufacturing for future growth. A rise in the production of aluminum, particularly in China and India, is anticipated to continue to accentuate demand for aluminum grade coal tar pitch.
Application Segment Analysis
The graphite electrodes segment are anticipated to hold a 42% share in the market in 2035, primarily used in electric arc furnaces for steel production. The transition from blast to electric arc furnaces, which are more environmentally friendly and energy efficient, is increasing the demand for graphite electrodes. This binder consists of coal tar pitch, which serves as a crucial component in the production of graphite electrodes that are essential for steel manufacturing. Graphite is the dominating material used for tool electrodes in the USA, and approximately 95% of the electrodes are constructed of this material. The increasing adoption of electric arc furnaces globally is expected to propel the graphite electrodes sub-segment.
Type Segment Analysis
The high-temperature coal tar pitch segment is projected to hold a significant share of the coal tar pitch market by 2035. Mainly due to its superior binding properties, thermal stability, and established utilization in the aluminum smelting, graphite electrodes, and refractory industries. High-temperature coal tar pitch continues to be used in industries due to its stability at elevated temperatures in energy-intensive industries allowing for continued demand for the material allowing for a larger market share in those industries than medium and low temperature counterparts.
Our in-depth analysis of the market includes the following segments:
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