Coal Tar Pitch Market Key Current and Future Trends, Regional Forecast 2032
The coal tar pitch market is a diverse and complex global ecosystem, serving a multitude of industries. Coal tar pitch, a residue produced during the distillation of coal tar, is an essential ingredient in the manufacturing of aluminum and steel, contributing significantly to the market's growth. This report provides an overview of the current state of the coal tar pitch market as of 2023. With increasing industrialization, the demand for coal tar pitch is expected to rise significantly. This growth is primarily driven by the aluminum pigments industry, which heavily relies on coal tar pitch as an anode material. This black, sticky residue is mixed with calcined petroleum coke to produce anodes used in the electrolysis process that creates aluminum. The steel industry also has a substantial impact on the coal tar pitch market. Coal tar pitch is used to manufacture refractories, substances resistant to heat, which are essential in the production of steel. Furthermore, the rece