Coal Tar Pitch Market Growth, COVID Impact, Trends Analysis Report Forecast to 2028

 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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Competitive Landscape

Over the past few years, manufacturers are shifting their focus toward emerging regions to cater to the growing demand from the application segments. Several key players are also focusing on expanding their production capacities, product launches, R & D, and are also focusing on mergers & acquisitions.

For Instance,

  • In 2017, Koppers Inc., a wholly-owned subsidiary of Koppers Holdings Inc., announced its new long-term coal tar supply agreement with leading steelmaker ArcelorMittal.
  • In 2018, Himadri Specialty Chemicals Ltd announced its plan to expand its production facility at Singur in West Bengal by making a planned investment of Rs 1,000 crore over the next five years.

Key Companies Profiled

  • Koppers Inc.
  • Coopers Creek Chemical Corporation
  • Himadri Specialty Chemicals Ltd.
  • Rain Industries Limited
  • JFE Holdings, Inc.
  • Nippon Steel & Sumikin Chemical Co., Ltd.
  • Shanxi Coking Company
  • Neptune Hydrocarbons
  • Bathco Ltd.
  • China Steel Chemical Corporation
  • Hengshui Zehao Chemicals Co., Ltd
  • Shandong Gude Chemical Co., Ltd
  • Crowley Chemical Company, Inc.
  • Shanghai Baosteel Chemical Co. Ltd.

Long-term Contractual Partnerships & Backward Integrated Supply Rule Strategic Minds of Coal Tar Pitch Manufacturers

While manufacturers of coal tar pitch are preferring long-term supply contracts with leading coal tar manufacturers, FMI has also identified these players entering strategic partnerships with steel manufacturers, where coal tar is often the byproduct of coke processing ovens.

A few other activities that make this landscape dynamic include long-term contracts between manufacturers of coal tar pitch and those of primary aluminum and graphite electrode, with the sole objective to sustain the coal tar pitch supply to end markets.

 

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