According to Future Market Insights (FMI), the coal tar pitch market will increase by 5.5% year on year in 2022, reaching a value of around US$ 3,749.6 Million by the end of 2022. The global business is expected to grow at a significant 5.4% CAGR between 2022 and 2028.

Tier-1 companies in coal tar manufacturing represent 60-70% share of the total market revenue. With massive coal tar distillation capacities across the globe, these players in the coal tar pitch landscape maintain their focus on both, standard grade and special grade coal tar pitch (CTP) production.

Tier 2 players have a strong presence over restricted regions, whereas that of Tier 3 competitors is limited to regional sales. Standard-grade coal tar pitch is the key focus area for the latter two, according to Future Market Insight’s study on the global coal tar pitch landscape.

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Coal Tar Pitch Market Market by Category

By Form:

• Solid
• Liquid

By Grade:

• Aluminum Grade
• Graphite Grade
• Special Grade

By Application:

• Aluminum Electrode
• Graphite Electrode
• Roofing Coating Material
• Blast Furnance Linings
• Chemical Intermediates
• Sealants

China Commands over Global Coal Tar Pitch Landscape, India Leads Asia Pacific’s CTP Scenario

China, India, Russia, and Western Europe have a significant aluminum production base, whereas MEA is demonstrating promising growth in the coal tar pitch landscape in recent years. North America, however, is observing passive growth over the recent past, post-decline in aluminum production levels.

According to the FMI’s report, China is the global leader in the coal tar pitch ecosystem owing to significant Aluminum production and thriving production levels of Graphite electrodes. China is projected for a 6% year-on-year revenue growth by this year’s end, reflecting ample growth opportunities for coal tar pitch manufacturers.

On the other side, APAC’s market for coal tar pitch is witnessing growth concentration in India that has been attributed to an impressive rate of Aluminum production in the country.