Coal Tar Pitch (CTP) Market Share

On the basis of regional analysis, the global coal tar pitch market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.

Asia Pacific industry is expected to dominate majority revenue share by 2036, backed by increasing demand for primary aluminium in the region from end user industries, such as automotive, aerospace, building and construction and several others, along with presence major steel producers. Additionally, increasing expenditure by the government of the nations in the region to promote the construction of several architectural structures, is raising the demand for greater consumption of steel and aluminium, which is anticipated to further drive the growth of the coal tar pitch market in the upcoming years in the region. According to the statistics by the World Steel Association AISBL, China, India and Japan took the top three positions respectively for the production of steel in the year 2018. The three nations produced 928.3, 106.5 and 104.3 million tonnes of crude steel respectively.