Global Pitch Coke Market Report and Forecast 2024-2032

Global Pitch Coke Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the global pitch coke market attained a value of 9.17 billion in 2023. The market is estimated to grow at a CAGR of 1.43% during 2024-2032 to reach a value of 7.86 billion by 2032.

Pitch coke, a type of carbonaceous material, is derived from the distillation of coal tar pitch. Distinguished by its lustrous appearance, pitch coke boasts of an elevated carbon purity which renders it a preferred raw material in various high-end applications. Notably, it's extensively utilised in the production of graphite electrodes, which play a pivotal role in steel and aluminium production through electric arc furnace and smelting methods respectively. Additionally, its low thermal expansion property makes it a sought-after component in brake pads and other friction materials.

A significant driver for the pitch coke market growth is its indispensable role in the metallurgical industry, especially in the production of steel and aluminium. As developing economies engage in infrastructural developments and urbanisation initiatives, the consumption of metals like steel and aluminium has seen an upswing. Given pitch coke's role in the production of graphite electrodes used in steel manufacturing, the demand for this carbonaceous material is inevitably linked to the growth of the metallurgical sector.

Moreover, the automotive industry's continual expansion, particularly in emerging markets, is increasing the pitch coke market size. Its utilisation in the manufacture of brake linings and clutch plates, vital components ensuring vehicular safety, underpins its significance in this sector.

Furthermore, innovations are on the horizon. Research endeavours are focused on producing pitch coke with even higher carbon purity, making it suitable for more specialised applications in the electronics and aerospace industries. Furthermore, sustainable and green production methods are under exploration, aiming to reduce the environmental footprint of pitch coke manufacturing. In geographical terms, the Asia Pacific accounts for a significant portion of the pitch coke market share, owing to the increasing demand for the product in carbon specialty applications.

Market Segmentation

The market can be divided based on application, end-use, and region.

Market Breakup by Application

• Aluminium Smelters
• Graphite Electrodes
• Others

Market Breakup by End-Use

• Aluminium Anode
• Artificial Graphite Electrode
• Decarburised
• Carbon Speciality
• Carbon Additive
• Crucibles for Semiconductors
• Equipment for Solar Array Panel
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global pitch coke market. Some of the major players explored in the report by Expert Market Research are as follows:

• C-Chem Co. Ltd.
• Mitsubishi Chemical Corporation.
• Shanghai Baosteel Chemical Co. Ltd.
• Sojitz Corporation
• Asbury Carbons Inc.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.