LONDON--(BUSINESS WIRE)--The global coal tar market size is poised to grow by USD 1.17 billion during 2019-2023, according to a new report by Technavio. The market is expected to decelerate at a CAGR of close to 2% during the forecast period.
Read the 120-page research report with TOC on "Coal Tar Market Analysis Report by application (coal tar processing and carbon black) and geography (the Americas, APAC, and EMEA).
The market is driven by the increasing use of coal tar pitch in aluminum smelting. Also, the global growth in liquid fuel consumption is anticipated to further boost the growth of the market during the forecast period.
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A key factor driving the growth of the market is the use of coal tar pitch in aluminum smelting. Coal tar pitch is a thick, viscous, black residue that remains after coal tar distillation. Coal tar pitch is used in many applications, such as for paving roads, as a base for paint and coatings, and as a binder in asphalt products. Coal tar pitch is also used in the production of steel and aluminum. It is used as a binding agent in the production of graphite electrodes that are used in electric arc furnaces in steel plants and in carbon anodes utilized in aluminum smelters.
The need to ensure energy security has led to the development of alternative new energy sources such as shale oil, bio-oil, and coal-derived liquids. Coal tar is considered as an ideal raw material to produce clean fuels. Coal tar can also be converted into gasoline and diesel through the optimized catalytic hydrogeneration process. Thus, the growth in liquid fuel consumption will drive the growth of the market.
To find out more about Coal Tar Market Research 2019-2023, https://www.technavio.com/talk-to-us?report=IRTNTR30507
The report includes detailed profiles of the leading companies & prominent vendors of the market:
- Tata Steel
Market Segmentation by Application:
The Coal tar Market can be broadly categorized into the following application segment:
- Coal tar processing
- Carbon black
Key Regions for the Coal Tar Market:
Featuring a breakdown of region-wise market shares until 2019.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Related Reports on Energy are:
Coal Tar Pitch Market – Global Coal Tar Pitch Market by application (aluminum smelters, graphite electrodes, and others) and geography (the Americas, APAC, and EMEA).
Coal Gasification Market – Global Coal Gasification Market by application (chemicals, fuels, and power) and geography (APAC, EMEA, and the Americas).
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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