Global Pitch Coke Market Size To Exceed USD 777.54 Million by 2033 | CAGR of 5.57%
Category: Chemicals & MaterialsGlobal Pitch Coke Market to Exceed USD 777.54 Million by 2033
According to a research report published by Spherical Insights & Consulting, The Global Pitch Coke Market Size Expected to Grow from USD 452.37 Million in 2023 to USD 777.54 Million by 2033, at a CAGR of 5.57% during the forecast period 2023-2033.
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Browse 210 market data Tables and 45 Figures spread through 220 Pages and in-depth TOC on the "Global Pitch Coke Market Size, Share, and COVID-19 Impact Analysis, By Type (Fuel Grade Pet Coke, Other Grade Pet Coke), By Application (Aluminum Electrode Material, Carbon Specialties Material, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/pitch-coke-market
Pitch coke is a carbon-rich, sulphur-poor, and ash-poor substance produced by burning coal tar pitch in an airless atmosphere. It plays a significant part in aluminium (anodes), steel (electrodes), batteries (carbon materials), and speciality carbon products including graphite and conductive coatings for high-performance applications in many sectors. Moreover, the pitch coke market is primarily driven by the continuous expansion of aluminium, steel, and battery manufacture, all of which demand high-performance carbon materials. Advances in carbon production technologies, ongoing infrastructure development, and rising demand for electric vehicles and renewable energy systems drive up demand even more. Growing industrialization in emerging economies, as well as increased need for energy-efficient and sustainable production processes, are driving growth in the pitch coke market. However, the pitch coke market is constrained by raw material price variations, environmental difficulties associated with production processes, and regulatory pressures for greener manufacturing. Competition from alternative materials and unexpected supply chain disruptions may also provide difficulties to the market.
The fuel grade pet coke segment accounted for the highest share in 2023 and is anticipated to grow at a remarkable CAGR during the projected timeframe.
Based on the type, the pitch coke market is divided into fuel grade pet coke and other grade pet coke. Among these, the fuel grade pet coke segment accounted for the highest share in 2023 and is anticipated to grow at a remarkable CAGR during the projected timeframe. This is mostly due to its widespread use in industries such as power generation and cement manufacturing, where it serves as a low-cost, high-carbon fuel. It is frequently employed in a variety of energy-intensive industries due to its great availability and low cost when compared to others.
The aluminum electrode material segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the projected timeframe.
Based on the application, the pitch coke market is divided into aluminium electrode material, carbon specialties material, and others. Among these, the aluminum electrode material segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the projected timeframe. This is due to the increased demand for aluminum in industries such as aerospace, automotive, and construction. Because aluminum smelting is strongly reliant on high-quality pitch coke used to manufacture anodes, higher demand for aluminum leads to increased usage of pitch coke as electrode materials.
Asia Pacific is anticipated to hold the largest share of the pitch coke market over the predicted timeframe.
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Asia Pacific is anticipated to hold the largest share of the pitch coke market over the predicted timeframe. This region, especially China and India, is a prominent actor because of fast industrialization, massive aluminium and steel production, and an increasing need for energy-intensive products. Large-scale industries, such as steel, aluminium, and battery manufacturing, drive up demand for pitch coke.
North America is expected to grow at a rapid CAGR of the pitch coke market during the forecast period. This expansion is being driven by the region's powerful industrial base, particularly in the production of steel and aluminum, where pitch coke is a major ingredient for the manufacture of electrodes and anodes. The increasing demand for electric vehicles and renewable energy storage systems is also boosting the demand for high-performance carbon materials.
Major vendors in the global Pitch Coke market are DONGSUNG CORPORATION, ASBURY CARBONS, Bilbaína de Alquitranes, S.A, Shamokin Carbons, Ukrgraphit, Mitsubishi Chemical, SUMMIT CRM Limited, Rain Carbon Inc., Sojitz JECT Corporation, Tianjin Yunhai Carbon Element Products Co., Ltd., RESORBENT S.R.O., C-Chem Co., Baosteel Chemical. and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
- This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global pitch coke market based on the below-mentioned segments:
Global Pitch Coke Market, By Type
- Fuel Grade Pet Coke
- Other Grade Pet Coke
Global Pitch Coke Market, By Application
- Aluminum Electrode Material
- Carbon Specialties Material
- Others
Global Pitch Coke Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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