Global Coal Tar Market is likely to grow at a CAGR of 5% in the forecast years 2021-2026

According to MarkNtel Advisors' research report, "Global Coal Tar Market Analysis, 2021," the market is likely to grow at a CAGR of 5% in the forecast period of 2021-26. It owes to the propelling demand for coal tar that is likely to continue increasing because of its wide application in multiple industrial processes like graphite electrodes, tire production, roofing, and specialty oils.

Moreover, coal tar is used for medicinal purposes like its topical application to treat skin issues like psoriasis, seborrheic dermatitis, or dandruff. Besides, it helps extend the longevity of roads & decreases the cost for maintenance of pavements & car parking spaces, manufacture of paints, and synthetic & photographic materials. Hence, the market is expanding widely and is likely to witness robust growth in the forecast period.

Get a sample copy of the market report: https://www.marknteladvisors.com/query/request-sample/global-coal-tar-market.html

Key questions answered in the study
1. What are the current and future trends in the Global Coal Tar Market?
2. How has the industry been evolving in terms of geography and services adoption?
3. How has the competition been shaping across the countries, followed by their comparative factorial indexing?
4. What are the key growth drivers & challenges for the Global Coal Tar Market?
5. What is the customer orientation, purchase behavior, and expectations from the Global Coal Tar Market service providers across various regions?

Aluminum Industry Leading the Market with the Fastest Growth

Based on the End-User, the market segments into Aluminum Industry, Graphite Electrodes, Roofing, Ink and Paint Industry, Tire Industry, Others (Carbon Fiber, Paving, Refractories). The Aluminum industry is leading the market with the fastest market growth, owing to the significant demand for aluminum from various sectors. Across the market, industries like aerospace, automotive, and space are among the highest consumers for aluminum due to its robust strength and lightweight.

Besides, the increasing environmental concerns due to the automobiles generating pollution create a prospect for the demand for aluminum. Thus, it is directing numerous manufacturers to shift toward aluminum for benefits like weight reduction of aircraft, automobiles, etc. Hence, the segment is likely to attain the fastest market growth in the forecast period.

Carbon Black to Dominate with the Largest Market Share

Based on the Application, the Global Coal Tar Market Segments Carbon Black, Pitch (Aluminum Grade, Binder and Impregnating Grade, Special Grade), Wash Oil, Others (Anthracene Oil Fraction, Tar Oil). Of all, Carbon Black is likely to dominate the Global Coal Tar Market in the forecast period with the largest market share. It owes primarily to the production process through the incomplete combustion of coal tar, which propels its demand in various industries dealing with coal, printing, rubber, etc.

Furthermore, Carbon black oil is prominently used as a filler in rubber for manufacturing tires and in the printing industry to pigment in inks. These end-users are exponentially dealing with the market for the supply of Carbon Black. Hence, the segment is likely to dominate the market in the coming years.

For detailed analysis: https://www.marknteladvisors.com/research-library/global-coal-tar-market.html

"Global Coal Tar Market Analysis, 2021" provides comprehensive, qualitative, and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for Coal Tar providers across the globe. Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.

According to MarkNtel Advisors, the leading players in the Global Coal Tar Market are Bathco Ltd., Bilbaina de Alquitranes, S.A., Coopers Creek chemical corporation, Crowley Chemical Company, Inc., DEZA a. S, Hengshui Zehao Chemicals Co., Ltd., Himadri Speciality Chemicals Ltd, JFE Chemical Corporation, Koppers Inc., Mitsubishi Chemical Corporation, Neptune Hydrocarbons Mfg. Pvt. Ltd., Rain Carbon Inc., Shandong Jiefuyi.

Market Segmentation:
1. By Type (High-Temperature Coal Tar, Medium Temperature Coal Tar, Low-Temperature Coal Tar)
2. By End-User (Aluminum Industry, Graphite Electrodes, Roofing, Ink and Paint Industry, Tire Industry, Others (Carbon Fiber, Paving, Refractories))
3. By Application (Carbon Black, Pitch (Aluminum Grade, Binder and Impregnating Grade, Special Grade), Wash Oil, Others (Anthracene Oil Fraction, Tar Oil))
4. By Region (North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa)
5. By Competitors (Bathco Ltd., Bilbaina de Alquitranes, S.A., Coopers Creek chemical corporation, Crowley Chemical Company, Inc., DEZA a. S, Hengshui Zehao Chemicals Co., Ltd., Himadri Speciality Chemicals Ltd, JFE Chemical Corporation, Koppers Inc., Mitsubishi Chemical Corporation, Neptune Hydrocarbons Mfg. Pvt. Ltd., Rain Carbon Inc., Shandong Jiefuyi)

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MarkNtel Advisors is a leading research, consulting and data analytics firm that provides a wide range of strategic reports on diverse industry verticals to a substantial and varied client base that includes multinational corporations, financial institutions, governments, and individuals.

We specialize in niche industries and emerging geographies to support our clients in the formulation of strategies viz. Go to Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, trend analysis, etc. in around 15 industry verticals to enable our clients in identifying attractive investment opportunities and maximizing ROI through an early mover advantage.

This release was published on openPR.