The United States is anticipated to be a major consumer of coal tar pitch, with the market expected to grow steadily. This growth is driven by its increasing use in blast furnaces, chemical industries, and the construction sector, particularly in the manufacture of paints and coatings. The expanding building and construction industry, along with the rising infrastructure sector, significantly rely on roofing chemicals, further boosting coal tar pitch consumption.
The coal tar pitch industry is projected to experience a CAGR of 6.20%, with a significant increase in value from USD 5,076.30 million in 2024 to USD 9,237.50 million by 2034. Metallic Brown Car Paint
The aluminum industry is the largest consumer of coal tar pitch. It is used as a binder in the production of carbon anodes, which are used in the electrolytic process of producing aluminum. The demand for aluminum is constantly increasing due to its lightweight, excellent conductivity, and corrosion resistance properties. Global aluminum consumption is expected to reach 72 million metric tons by 2030, which will drive the demand for coal tar pitch.
The steel industry is another major consumer of coal tar pitch. It is used as a raw material in the production of electrodes used in electric arc furnaces for steel production. The steel industry is expected to grow due to the increasing demand for steel in the construction and infrastructure sectors. Global steel production is expected to reach 1.9 billion metric tons by 2025, which will drive the demand for coal tar pitch.
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The construction industry is also a significant consumer of coal tar pitch. It is used in the production of asphalt and waterproofing membranes, which are used in roofing, pavement, and other infrastructure projects. The demand for coal tar pitch in the construction industry is expected to increase due to the growing investments in infrastructure development.
The demand for coal tar pitch is also increasing in the graphite electrode industry. Graphite electrodes are used in the production of steel and other metals using electric arc furnaces. The demand for graphite electrodes is increasing due to the growing steel production and the shift towards electric arc furnaces from traditional blast furnaces. Coal tar pitch is used as a binder in the production of graphite electrodes, which will drive the demand for coal tar pitch in the graphite electrode industry.
“The chemical industry is another important consumer of coal tar pitch. It is used as a raw material in the production of various chemicals like naphthalene, phenol, and creosote. The demand for these chemicals is increasing due to their various applications in different industries like construction, automotive, and healthcare. Coal tar pitch is also used in the production of carbon black, which is used in the manufacturing of tires, rubber products, and other industrial applications.” - Says an analyst at FMI.
Key Takeaways from the Coal Tar Pitch Industry
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In recent years, manufacturers have redirected their attention toward emerging countries to cater to the growing demand for various applications. Furthermore, several leading players in the industry are focusing on expanding their manufacturing capacity, launching new products, conducting research and development, and pursuing mergers and acquisitions to strengthen their market position.
In 2023, by exporting liquid coal tar pitch, Epsilon Carbon accomplished a significant feat, becoming the first Indian company to do so. This achievement reflects the company's dedication to innovation, quality, and customer satisfaction. Epsilon Carbon is a top producer of advanced carbon materials and coal tar pitch. The company's modern manufacturing plant, located in Bellary, Karnataka, has a yearly production capacity exceeding 250,000 metric tons. Epsilon Carbon's liquid coal tar pitch is a crucial raw material in the manufacturing of various industrial applications, including aluminum and graphite electrodes.
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