Global Coal Tar Market Share, Size And Trends Report By Radiant Insights, Inc

This report provides a professional and in-depth study on the current state of the Coal Tar market in the world.

The production of tar is generally done with the help of a wide range of natural materials via the process of destructive distillation. The mining of tar can be done from petroleum, coal, peat and wood. It is generally a combination of free carbons as well as hydrocarbons. Products that resemble the tar can be extracted from hydrocarbons.

It is deployed in carbon black and deep processing. The tar sand deposits comprise blending of heavy crude and mixture of sand. The Coal tar is usually manufactured when the process of coal carbonization is carried out that is why it is recognized as a by-product of coke production. In general, it appears as a highly sticky liquid in black or brown color.

It is basically a variable and composite blend of phenols, heterocyclic compounds as well as polycyclic aromatic hydrocarbon. One of the prominent factors that is contributing significantly in raising the market share include augmented demand for tar in the industrial, medical sectors and sealing of roads. The only thing that is becoming a major hurdle in the overall growth of the coal tar market is that tar cannot be employed in the extracted and mined state, as it is usually in solid form. In order to make it more apposite for further utilization, it is normally heated and given enough warmth at high temperature.

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Other key restraint for the market growth is the cost of heating furnace that ultimately lays additional load on the consumer side. Nevertheless, rise in the applications of various industries including manufacturing of diesel and gasoline oil through high pressure hydrogenation and power generation for heating boilers is estimated to keep the level of demand balanced for tar till the next couple of years. It is known that coal tar deep-processed products play a very major part as raw materials for pharmaceuticals, agricultural chemicals, dyes, and synthetic fibers.

They possess strong profitability that propels many leading manufacturers to put in more money in coal tar deep-processing projects. Market size on the basis of product type spans birch tar, coal tar, pine tar and pitch among others. Market size on the basis of end-user application spans pavement sealcoats, industries and medical sector. Market size on the basis of geographical region spans China, Japan, Southeast Asia, and India.

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As far as the geography is concerned, North America is currently leading the market and it is considered as a key market for the tar industry, the reason being increase in the domestic production that has eventually augmented the level of demand from the aluminum, graphite and other coal tar pitch end-use sectors. Canada is the one which is mainly contributing in raising the share of the tar market in North American.

On the contrary, Asia Pacific is also coming up as one of the promising regions. China is significantly contributing in boosting the share of the market in Asia Pacific and it is believed to be the key producer of tar possessing a capacity of 11 million tons of tar. Major companies operating in the global coal tar market include BOC Sciences, Rain CII, Himadri, Rutgers Group GmbH, HIMADRI, KOP, CABOT, Elkem, Tokai Carbon, NIPPON STEEL & SUMIKIN CHEMICAL CO., LTD., Koks, Black Cat Coking Co., Coking Co., Ltd., Antai Group Co., Ltd., Jinlong Machinery Co, Ltd, and Jinshenglong Chemical Plant.

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