Pitch Coke Market: Introduction
Coal tar is produced as a byproduct of coke plant. It is used as raw material in the production of pitch. A part of coal tar is used in the manufacture of pitch coke. It contains low ash content and other mineral impurities. Pitch coke offers excellent thermal conductivity. Led its high thermal conductivity, it is used as principal raw material in the production of anodic paste, electrodes, and carbonic materials.
Growth of the pitch coke market is governed by the usage of pitch coke in manufacturing of solar panels applications. Additionally, rise in governmental initiatives on usage of solar panels in residential and commercial buildings is driving the market for pitch coal across the globe. Additionally, decline in prices of industrial commodities used for production of solar panels is likely to boost the market for solar panel in the near future. This, in turn, is expected to fuel the pitch coke market. Increase in prices of electricity and availability of low cost solar panels are also anticipated to augment the solar panels market during the forecast period. However, climatic changes are projected to hamper the working of solar panels across the globe. This, in turn, is anticipated to hamper the usage of solar panels, thereby affecting the pitch coal market across the globe.
Manufacturers operating in the global pitch coke market are focusing on exploring new ways to manufacture pitch coke. New process development for production of pitch coke is estimated to propel the market in the near future.
Pitch Coke Market: Key Segments
Based on end-use, the global pitch coke market can be divided into aluminum anode, artificial graphite electrode, recarburizer, carbon specialty, carbon additive, crucibles for semiconductors, equipment for solar array panel, and others (including hot press molds and atomic core material). Solar panel and aluminum anode segments are projected to expand at a significant pace during the forecast period. Aluminum anode is mainly used as a sacrificial anode for the protection of cathode against corrosion, particularly in marine applications. Solar panels are extensively employed for generation and supply of solar electricity in commercial and residential applications.
Pitch Coke Market: Regional Analysis
In terms of region, the global pitch coke market can be segregated into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. Asia Pacific is anticipated to constitute major share of the global pitch coke market during the forecast period. The growth can be ascribed to the rise in governmental spending on supply of electricity in rural areas in developing nations such as India and those in Middle East & Africa. This is boosting the demand for solar panels, as these panels are cost effective. Additionally, growth in usage of pitch coke in making aluminum anodes for marine application is fueling the pitch coke market in the Asia Pacific region. Middle East & Africa is expected to be a lucrative region of the global pitch coke market during the forecast period, led by the increase in demand for pitch coke in production of electricity in the region.
Pitch Coke Market: Key Players
Prominent players operating in the global pitch coke market include Mitsubishi Chemical Corporation, Shanghai Baosteel Chemical Co., Ltd, RESORBENT, s.r.o., Tianjin Yunhai Carbon Element Products Co., Ltd., Asbury Carbons, and Shaanxi Coal and Chemical Industry Group Co., Ltd. These players engage in research & development activities, strategic alliances, and mergers & acquisitions to gain market share.
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