The report talks about the shift in demands and emerging trends that are expected to drive the growth of the Coal Tar market. The rising demand for the Coal Tar market is expected to drive the demand for Coal Tar market, thereby bolstering the growth of the industry. Moreover, the report also studies the impact of the COVID-19 pandemic on the market.
The global coal tar market size is expected to reach USD 18.64 Billion in 2028 at a steady CAGR, according to latest analysis by Emergen Research. Growth of the coal tar market is driven significantly by need for coal tar pitch in aluminum smelting processes.
Another key factor driving growth of this market is rapidly increasing consumption of coal tar pitch in aluminum smelting due to rising demand for aluminum for a range of industrial manufacturing and construction applications. Coal tar pitch is used in asphalt for blacktop of roads, as a base for paints and coatings, and also as binder in asphalt products, in addition to being widely used in steel and aluminum production. It is one of the significant products of graphite electrodes that are used in electric arc furnaces.
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Some Key Highlights in the Report:
- In February 2020, Epsilon Carbon announced plans to expand its coal tar distillation project and after it received environmental clearance along with other necessary clearance regarding the expansion.
- In March 2018, Gearbulk and Puma Energy created a joint venture in order to operate five coal tar pitch and bitumen tankers as well as perform liquid coal tar pitch, asphalt and bitumen, creosote, and coal tar transportation contracts.
- In March 2020, Epsilon Carbon announced investment of USD 121.6 Million for setting up an integrated carbon black facility, with capacity of 300,000 tons per annum, in Bellary district of Karnataka, India.
- Asia Pacific accounted for largest revenue share in 2020, which can be attributed to factors such as increasing demand for coal tar from industries such as aluminum, paint, dyes, and photographic materials in countries in the region.
The complete regional analysis covers:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The latest report encases an in-depth summary of the intensely competitive landscape of the global Coal Tar market, with systematic profiling of the companies operating across this industry. In this section of the report, experts have listed down the strategic initiatives undertaken by these market rivals for proposed business expansion. Additionally, it highlights the key developments and financial positions of these companies to explain the overall market scenario. The company profiles of the established and new players have also been assessed in the report through effective analytical tools like SWOT analysis.
Key players operating in the market are Himadri Speciality Chemical Ltd., Voestalpine AG, Rain Carbon Inc., Industrial Química del Nalón S.A, DEZA, a. s., Bilbaína de Alquitranes, S.A., Koppers Inc., Nagreeka Hydrocarbons (P) Ltd., Neptune Hydrocarbons Mfg. Pvt. Ltd., and Tar Alliance AM.
For the purpose of this report, Emergen Research has segmented the global coal tar market based on type, application, end-use, marketing channel, and region as follows:
Type Outlook (Revenue: USD Billion; Volume: Million Metric Tons; 2021–-2028)
- Low Temperature Coal Tar
- Medium Temperature Coal Tar
- High Temperature Coal Tar
Application Outlook (Revenue: USD Billion; Volume: Million Metric Tons; 2021-2028)
- Coal Tar Pitch
- Carbon Black Oil
- Specialty Oils
End-use Outlook (Revenue: USD Billion; Volume: Million Metric Tons; 2021–-2028)
- Aluminum Industry
- Tire Industry
- Paint Industry
- Wood Preservation
Marketing Channel Outlook (Revenue: USD Billion; Volume: Million Metric Tons; 2021–-2028)
Valuable Market Insights:
- The report highlights the latest trends observed in the consumption pattern of each regional segment.
- Extensive market segmentation included in the report helps better understand the revenue and estimated growth of the individual regions.
- The report throws light on the historical and current market scenarios and provides a concise year-on-year growth rate of the global Computer-Aided Diagnosis market.
- The report further entails the current market trends, technological advancements, revenue growth, and other aspects affecting market growth.
Questions addressed in the report:
- What is the estimated market growth rate throughout the forecast period?
- Which end-use industry is expected to witness the highest demand for Computer-Aided
- Diagnosis in the near future?
- What is the regulatory framework governing the application of Computer-Aided Diagnosis in the food industry?
- Which manufacturing processes are utilized for the production of Computer-Aided Diagnosis?
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