Coal tar has been prevalent in the global industries for a couple of centuries and was predominantly invented for use in the pharmaceutical industry. Coal tar is listed in the World Health Organization’s “List of Essential Medicines” for usage in the health industry. It gradually found its applications in the construction industry and was used with seal coats products. Today, coal tar has found its application areas in various end-use industries such as aluminum industry, steel industry, and tire industry. With the growth and development of these end-use industries, the coal-tar industry is continuously honing its footprint in the global market.
Coal tar is a thick/brown liquid, which has a high viscosity and is a byproduct of carbonized coal. Coal tar is a complex mixture of various substances such as phenol, metro cyclic compounds, and polycyclic aromatic hydrocarbons. Over several years, coal tar has developed its importance in different product formulation processes. It is used as an insulating agent in paints, synthetic dyes, photographic material, and in boiler systems to create heat that can be directed to duct systems that are being installed in the homes. The U.S. was the first country that built coal chemical recovery ovens in the late 18th century.
Coal tar has found its application-areas in the formulation of various materials such as coal tar pitch, carbon black oil, and specialty oils. These materials are vastly used in the production of carbon electrodes, graphite electrodes, roofing applications, tire industry, and wood preservation, among others. The aluminum industry, steel industry, and tire industry are the significant consumers of coal tar. It is used as a binder for producing carbon electrodes, which are used in the aluminum industry. The growth of the steel industry is also responsible for the growing demand of coal tar. Graphite electrodes used in the steelmaking process are obtained from coal tar pitch, which is used in EAF. EAF method is gaining attention in the steel industry due to various regulations imposed by governments and regulatory bodies to curb growing pollution. The tire industry is the largest and most significant consumer of carbon black, which is derived from coal tar. Therefore, the growth of the automotive industry is significantly propelling the demand for tire production. The demand for tires in the automotive industry is expected to drive the growth of the coal tar market globally.
Coal tar also finds significant applications in the medical industry for treating skin conditions such as psoriasis or seborrheic dermatitis. Additionally, the material is also widely used in the manufacturing of skin products, but it must be used under protection guidelines, as it might enhance sensitivity to sunlight, irritating the skin. All coal-tar products have their pros and cons; therefore, they are required to be used with proper safety and handling measures.
Obtain the Sample Report at: https://bisresearch.com/requestsample?id=865&type=download
Some of the key contributors operating in the global coal tar market are POSCO, Himadri Specialty Chemicals Ltd, and ArcelorMittal. These players have an active presence in their domestic locations, which helps the companies to get a stronger hold in the local market.
Coal tar pitch is derived from coal tar after the distillation of coal tar and is one of the most prominent applications of coal tar. Coal tar pitch is mainly used as the base for roofing, coating and paints, paving, and as a binder in asphalt products. Coal tar pitch also finds its significant application in the aluminum and steel industry. The growing demand for aluminum across various end-use applications such as the automotive industry and packaging industry is propelling the growth for the demand from the aluminum industry as coal tar pitch (CTP) is one of the key raw for production of carbon anodes that are used during electrolytic chemical reaction for aluminum smelting. Thus, the increasing demand in the aluminum sector is anticipated to directly impact the growth of the coal tar pitch market.
UPCOMING INDUSTRY TRENDS 