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According to a study published by Insure Insights, the global coal tar pitch market is estimated to grow at a CAGR of 5.7% during the forecast period. Coal tar pitch (CTP) is derived from the distillation of coal tar and is used as an industrial product. Coal tar is referred to as the thick dark liquid produced as a by-product during coke and coal gas production from coal. CTP is typically used in the production of aluminum, graphite, and other specialty chemicals. CTP is liquid, which primarily contains a mixture of bi- and poly-condensed aromatic hydrocarbons. The tar also has compounds with heteroatoms in rings and phenols.
Top Driver: Surging Demand for Aluminum and Light Weight Vehicle
Due to the economic feasibility and sustainability of coal tar as a binder, it is widely used as a raw material for carbon electrodes used to produce aluminum. Thus, the surging demand for aluminum is the primary driver of the global coal tar pitch market. The increasing number of infrastructure projects in recent years, especially in developing countries and stringent regulations on vehicle emissions, have resulted in aluminum usage in light-weight automobile components. This, in turn, has driven the coal tar pitch market. In addition, the shift of the manufacturer’s focus on EAF steel made from graphite electrodes is consecutively propelling the coal tar pitch market.
Aluminum Smelting Accounts for the Largest Market Share
The global coal tar pitch market has been segmented into aluminum smelting, graphite electrode, roofing, and others based on the application. The aluminum smelting holds the largest market share due to the surging demand for aluminum from various industries. Sectors such as the automotive, aerospace, and space industries are the largest consumers for the aluminum due to its strength and lightweight. Besides, the stringent environmental regulations worldwide over the pollution from automobiles also create a huge demand for the demand for aluminum. Based on the grade, the market is segmented into aluminum grade, binder and impregnating grade, and special grade.
Rising Demand for Aluminum and Infrastructure Development to Benefit Asia Pacific
The Asia Pacific is estimated to hold the largest market share due to increasing demand for aluminum in the region from end-user industries, such as automotive, construction, aerospace, building, and others. Besides, countries such as China, India, and Japan are known to be the major steel producers globally, thereby primary end-user of coal tar. Also, increasing expenditure by the government to promote the construction of several architectural structures is driving the demand for steel and aluminum consumption, is expected to further fuel the growth of the coal tar pitch (CTP) market in the coming years.
Players to Focus on Coal Tar Pitch Market
The global coal tar pitch market is estimated to stay fragmented during the forecast period owing to the possible new entrants. The major players operating in the global coal tar pitch market are Coopers Creek Chemical Corporation, Himadri Specialty Chemicals Ltd., Nippon Steel & Sumikin Chemical Co., Ltd., Shanxi Coking Company, Neptune Hydrocarbons, Bathco Ltd., China Steel Chemical Corporation, Hengshui Zehao Chemicals Co., Ltd
Koppers Holdings Inc.: In December 2019, Koppers Holdings Inc. announced that it has entered into a joint venture agreement with two Chinese companies to construct a state-of-the-art tar distillation facility in the Hebei Province near the Jingtang Port. The plant will be capable of distilling approximately 300,000 metric tons of tar into various products including carbon pitch, carbon black oils, and naphthalene.
Scope of the Report
By Grade
By Application
By Region
Key Reasons to Purchase this Report
Table of Content
Chapter 2 Our Research Practice
Chapter 4 Covid-19 Impact Analysis
4.3 Key Factor Impact Analysis
Chapter 5 Global Smart Greenhouse Market Forces
5.2 Porter’s Five Forces Analysis
5.2.2 Threats From New Entrants
5.2.4 Threat From Substitute Product
Chapter 6 Global Smart Greenhouse Market -Industry Snapshots
6.1.1 Global Smart Greenhouse Market Value, 2019 – 2028, (US$ Bn)
6.2.2 Restraint/Challenges analysis
6.3 Supply Chain/Value Chain Analysis
Chapter 7 Global Smart Greenhouse Market Analysis, by Type
7.2 Key Findings for Smart Greenhouse Market- By Type
7.2.1 Smart Greenhouse Market- Hydroponics
7.2.2 Smart Greenhouse Market- Non-hydroponics
Chapter 8 Global Smart Greenhouse Market Analysis, by Component
8.2 Key Findings for Smart Greenhouse Market- By Component
8.2.1 Smart Greenhouse Market- HVAC Systems
8.2.2 Smart Greenhouse Market- LED Grow Lights
8.2.3 Smart Greenhouse Market- Control Systems & Sensors
Chapter 9 Global Smart Greenhouse Market Analysis, by End User
9.2 Key Findings for Smart Greenhouse Market- By End User
9.2.1 Smart Greenhouse Market- Retail Gardens
9.2.2 Smart Greenhouse Market- Commercial Growers
9.2.3 Smart Greenhouse Market- Research & Educational Institutes
9.2.4 Smart Greenhouse Market- Others
Chapter 10 Smart Greenhouse Market Analysis by Region
10.1 Key Findings for Smart Greenhouse Market- By region
10.2.1 Global Smart Greenhouse Market Analysis, By Type, 2019 – 2028
10.2.2 Global Smart Greenhouse Market Analysis, By Component, 2019 – 2028
10.2.3 Global Smart Greenhouse Market Analysis, By End User, 2019 – 2028
10.3 Smart Greenhouse Market – North America
10.3.5 North America Market, By Type
10.3.6 North America Market, By Component
10.3.7 North America Market, By End User
10.4 Smart Greenhouse Market – Europe
10.4.8 Europe Market, By Component
10.4.9 Europe market by, End User
10.5 Smart Greenhouse Market – Asia Pacific
10.5.6 Asia Pacific Market, By Type
10.5.7 Asia Pacific Market, By Component
10.5.8 Asia Pacific Market, By End User
10.6 Smart Greenhouse Market – SAMEA
10.6.2 Middle East & Africa (MEA)
10.6.5 South America, Middle East and Africa Market, By Type
10.6.6 South America, Middle East and Africa Market, By Component
10.6.7 South America, Middle East and Africa Market, By End User
Chapter 11 Market Competition Analysis
11.1 Market Share/Positioning Analysis
11.1.1 Market Positioning of Key Vendors, 2019
11.1.2 Key Strategies Adopted by the Leading Players
Chapter 12 Company Profiles- Snapshot
12.2 Argus Control Systems Limited
*More than 10 Companies are profiled in this Research Report*
*Financials would be provided on a best efforts basis for private companies”
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