Market Growth of Global Coal Tar Market Remain Sluggish through 2022 - 2028

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., 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.
Growth of the coal tar market is driven significantly by need for coal tar pitch in aluminum smelting processes.
The insightful data and information in the report have been gathered from a wide range of primary and secondary sources. The extensive overview of the market is also inclusive of an in-depth summary of the competitive landscape of the market on both regional and global levels.

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.

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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.

The need for energy security has been resulting in rising focus on development of alternative energy resources such as shale oil, bio-oil, and coal-derived fuels. Coal liquefaction entails a process of converting coal into liquid hydrocarbons, including liquid fuels and petrochemicals.

Some Key Highlights From 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.
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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)
o Low Temperature Coal Tar
o Medium Temperature Coal Tar
o High Temperature Coal Tar
• Application Outlook (Revenue: USD Billion; Volume: Million Metric Tons; 2021-2028)
o Coal Tar Pitch
o Carbon Black Oil
o Specialty Oils
• End-use Outlook (Revenue: USD Billion; Volume: Million Metric Tons; 2021–-2028)
o Aluminum Industry
o Roofing
o Tire Industry
o Paint Industry
o Wood Preservation
o Others
• Marketing Channel Outlook (Revenue: USD Billion; Volume: Million Metric Tons; 2021–-2028)
o Online
o Offline
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