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Global Coal Tar Market Report (2020-2025)

The global Coal Tar market accounted for USD 13.65 billion by value in 2020. The global coal tar market, by application, is segmented into coal tar pitch, carbon black oil, and specialty oils. Carbon black oil market has the dominating market share in 2019 and is expected to maintain its dominance through the end of the 2025

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Market Snapshot

Coal Tar Market by Growth Rates, %

Market Overview

Coal tar is black, thick and viscous, black residue that remains after coal tar distillation. Coal tar is used as in many applications, such as a base for paint and coatings, such as in paving roads, , and as a binder in asphalt products. Coal tars consists of many chemical compounds, including carcinogens such as benzene. Coal tar is proven to be a significant material used in the production of steel and in the production process of aluminium. In the manufacturing of graphite electrodes that are used in electric arc furnaces in steel plants and in carbon anodes utilised in aluminium smelters, coal tar   is used as a binding agent.

Market Dynamics

The global aluminium production observed an average growth rate of 3–5% over the past few years. Few countries such as India and China have exhibited more than average growth for aluminium production. The rising demand for aluminium can be attributed to the stringent regulations regarding vehicle emissions, which has resulted in the use of aluminium for manufacture of lightweight aluminium components. The growth in the industry is expected to drive the demand for carbon raw materials and products, such as petroleum coke, coal tar, anodes and cathodes. More than 81% of coal tar   is used for the production of electrodes in the aluminium industry due to its economic feasibility and sustainability as a binder. No other alternative has shown such performance and hence, coal tar continues to be widely used in aluminium production.

A key factor driving the growth of the market is the use of coal tar in aluminium smelting. Coal tar is used in many applications, such as in paving roads, as a base for paint and coatings, and as a binder in asphalt products. Coal tar consists of various chemical compounds, including carcinogens such as benzene. Coal tar   proves to be a significant material used in the production of steel and in the production process of aluminium. In the production of graphite electrodes that are used in electric arc furnaces in steel plants and in carbon anodes utilised in aluminium smelters, coal tar   is used as a binding agent.

Infrastructure projects are increasing year by year, especially in developing economies and at the same time, stringent regulations on vehicle emissions have paved way for light-weight automobile components. Aluminium with its light weight property is considered as one of the best materials for automobile components. The same property is regulated aluminium in demand in the aerospace industry. The affordability of travelling through Air has risen over the years, resulting in demand for more aircrafts. This is expected to support growth of the global coal tar market in the Increasing terms.

Steel is also an important material required in infrastructure projects. Manufacturers across the global have shifted from conventional method to EAF steel manufacturing that requires graphite electrodes. And, graphite electrodes are made out of coal tar.

Segmentation by Product

Based on the product type the coal Tar is segmented into High Temperature Coal Tar, Medium Temperature Coal Tar, Low Temperature Coal Tar and Others. Coal Tar is expected to lead the coal Tar sealants market over the forecast period to 2025. In order to estimate the global volume consumption of coal tar pitch, the amount of coal tar pitch required for each application has been tracked. For instance, 1 ton of aluminum requires 100 kg of coal tar pitch, similar consumption has been tracked for other applications. Thereafter, the production of primary aluminum, graphite electrode production and other such factors have been tracked at a regional level to estimate the global consumption of coal tar pitch.

Segmentation by Geography

Aluminum production in the U.S. declined by ~40–50% in 2016. This can be attributed to the increasing import of aluminum and aluminum products from China-based players at economic prices, which has severely impacted aluminum smelters in North America. However, the imposed tariff on the U.S. import of aluminum and products is likely to improve the scenario and thus, generate the demand for coal tar. The coal tar market has been oversupplied in the past and thus, prominent manufacturers such as Koppers Inc. had to shut down their production plants in the U.S., the U.K. and China. This has improved the global scenario and improved the capacity utilization rate for coal tar

Competitive Landscape

The recent developments in the coal tar market is mainly due to growing urbanization and industrialization. Various business activities are followed by market players to establish themselves and create a vast customer base across the globe.

Product launches, business expansions, mergers and acquisitions and partnerships/ collaborations/ joint-ventures among established players as well as new entrants are some of the key strategies followed in the caol tar market. Key competitors in the industry are  Koppers Inc., Rain Industries Limited, Shanghai Baosteel Chemical Co. Ltd, Himadri Specialty Chemicals Ltd, Nippon Steel, Baowu Steel Group, JFE Chemical, OCI, Baoshun and Huanghua Xinnuo Lixing.

Moreover, owing to the increasing concerns regarding environmental conservation, stringent regulations in China regulate the production of steel. Manufacturers have shifted to EAF steel manufacturing from the other alternative conventional methods of steel production. Graphite electrodes are an obligatory part of EAF steel production. As a result, China’s graphite electrode consumption is anticipated to grow 3x in the coming years. Therefore, there has been an expected undersupply of graphite electrodes across other regions. This is further expected to generate demand for coal tar   to increase the production of graphite electrode and cope with the global undersupply scenario.

Major Players

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Table of Contents

1. Research Methodology and Scope

2. Executive Summary

3. Impact of COVID-19 on Coal Tar Market

4. Market Dynamics

        4.1 Drivers

        4.2 Restraints

5. Competitive Landscape

        5.1 Key Strategies Adopted by Major Companies

        5.2 Company Share Analysis

6. Coal Tar Market Segmentation by Product (USD Million and Million Tons)

        6.1 Carbon Black Oil

        6.2 Coal Tar Pitch

        6.3 Specialty Oil

7. Coal Tar Testing Market by Geography

        7.1 United States

        7.2 Europe

                 7.2.1 Russia

                 7.2.2 Rest of Europe

        7.3 Asia-Pacific

                 7.3.1 China

                 7.3.2 Japan

                 7.3.3 Rest of Asia-Pacific

        7.4 South America

        7.5 Middle East and Africa

8. Company Profiles

        8.1 JFE Holdings

        8.2 POSCO

        8.3 Voestalpine AG

        8.4 Himadri Specialty Chemical Ltd

        8.5 ArcelorMittal

        8.6 Lone Star Specialties

        8.7 Nippon Steel Chemical and Material

        8.8 Severstal

        8.9 Stella-Jones

        8.10 Tata Steel

9. Appendix

Research Methodology

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Global Coal Tar Market Report (2020-2025)
Global Coal Tar Market Report (2020-2025)
Included in this report
Industry Financial Ratios
Revenue Forecasts
Historical & Forecast Growth
Industry Market Size
Industry Major Players
Profitability analysis
SWOT Analysis
Industry Trends
Industry Operating Conditions
Porter's 5 Forces Analysis
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