Market Size of Coal Tar Pitch Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Coal Tar Pitch Market Analysis
The global coal tar pitch market is expected to register a CAGR of more than 4.5% during the forecast period.
COVID-19 highly impacted the coal tar pitch market due to a slowdown in vehicle production. However, the rising demand for lightweight vehicles will likely boost the consumption of coal tar pitch for aluminum production.
- The major factor driving the market studied is the surging demand for aluminum in the automotive, aerospace, and space industries owing to its strength and low weight.
- On the flip side, increasing crude oil prices may hamper the overall industry growth.
- The rising demand for electric and autonomous vehicles will offer new growth opportunities to the industry.
- Asia-Pacific dominates the market with the majority of the demand coming from countries such as China and India
