About this market
Use of coal tar pitch-based needle coke in lithium-ion batteries to drive market growth. Coal tar pitch-based needle coke is derived from coal tar, which is produced as a by-product during coke production. Needle coke is used as a key material for graphite electrodes in an electric arc furnace. As compared to petroleum-based needle coke, coal tar pitch-based needle coke possesses favorable physical characteristics, such as low coefficient of thermal expansion, low electric resistance, less breakage, and less spalling. analysts have predicted that the coal tar pitch market will register a CAGR of almost 5% by 2023.
Market Overview
Diverse use of activated carbon
One of the many applications of coal tar pitch is the preparation of activated carbon, which is available in different forms such as crushed, granulated, powdered, monolithic form, and as fibers. Activated carbon is a carbonaceous, amorphous, highly porous material with complex structure consisting of micro crystallites with a graphite lattice.
Fluctuations in coal prices
The fluctuations in the prices of coal are a significant challenge for investors and other stakeholders who invest in the production of coke. This will affect the production of coal tar, which in turn will affect the global coal tar pitch market adversely, as coal tar pitch is a distilled form of coal tar, which is a by-product of coke production.
For the detailed list of factors that will drive and challenge the growth of the coal tar pitch market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies including JFE Holdings and Koppers the competitive environment is quite intense. Factors such as the diverse use of activated carbon and the use of coal tar pitch-based needle coke in lithium-ion batteries, will provide considerable growth opportunities to coal tar pitch manufactures. Himadri Speciality Chemical, JFE Holdings, Koppers, NIPPON STEEL & SUMITOMO METAL, and Rain Carbon are some of the major companies covered in this report.