Coal Tar Pitch Market 2020 Global Analysis by Size, Revenue, Company Profile and Forecast 2027
Coal tar pitch is thick black liquid which remains after the distillation of coal tar. Basically coal tar pitch is used as base for paints and coatings. Coal tar pitch contains various chemical compounds like benzene. These are widely applied for roofing, paving, and others. Also, they are categorized into various types such as Low-Temperature Coal-Tar Pitch, Medium-Temperature Coal-Tar Pitch, and High Temperature Coal Tar-Pitch.
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Market Drivers
Growing industrialization in developing countries is the key driving factor which is expected to boost the growth of global coal tar pitch market. Furthermore, continuous advancements in several industries including aerospace, automotive, and construction which is expected to propel the coal tar pitch market growth globally. Moreover, various strategies are adopted by key competitors will have the positive impact on coal tar pitch market growth. For instance, in March 2018, Gearbulk and Puma Energy had entered into memorandum for establishment of liquid coal tar pitch and Bitumen transportation joint venture Company. Joint Venture is mainly designed to provide better service to consumers.
Market Restraints
However, increase in environmental concerns including emission of greenhouse gases during coal tar pitch production is the major restraining factor which is expected to hamper the global coal tar pitch market growth.
Market Segmentation
Global Coal Tar Pitch Market is segmented into type such as Low-Temperature Coal-Tar Pitch, Medium-Temperature Coal-Tar Pitch, and High Temperature Coal Tar-Pitch. Further, market is segmented into application such as Roofing, Paving, and Others.
Also, Global Coal Tar Pitch Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
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Market Taxonomy
By Type
- Low-Temperature Coal-Tar Pitch
- Medium-Temperature Coal-Tar Pitch
- High Temperature Coal Tar-Pitch
By Application
- Roofing
- Paving
- Others
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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