Pitch Coke Market

Pitch Coke Market Size & Growth (2023-2028)

Pitch Coke Market is valued at US$ 398 Million in 2022 and is anticipated to increase to US$ 574 million by 2028, with a growing CAGR of 5.2% in the next six years.

The term "pitch coke" refers to a form of coke generated from synthetic raw materials and used to produce carbon in connection with binding materials or binders. Its production is dependent on the output of coal tar and pitch, and it is made by destructive distillation of coal gas tar pitch or coking from pure carbon residue, and it has a low Sulphur and ash content while having high carbon content. These are regarded as critical raw materials for manufacturing solar array panels or semiconductors, as well as the anode in aluminum smelting. Graphite electrodes, the aluminum industry, and a variety of other sectors are among the most important. The primary growth factors for this industry are rising aluminum output and semiconductor demand.

Aluminum anodes, artificial graphite electrodes, recarburizers, carbon specialty, carbon additives, antifriction, flame retardants, and refectories all use pitch coke. The market will rise due to the rising requirement of pitch coke from various applications. The product is utilized as a raw material for an anode in aluminum smelting. Pitch coke is widely utilized as a recarburizers and input in the electrode production process. Furthermore, as compared to green petroleum coke, the product blocks a far lower level of volatile components, making it a better alternative.

Pitch Coke Market Drivers:

The worldwide pitch coke market is developing due to increased demand for electrical gadgets and increasing industrial activity. Moreover, in the perspective forecast period is attributed to technological innovations & application-specific developments, as technological advancements in the mining industry in machine learning(ML), artificial intelligence (AI), and other domains will also promote market growth, as the mining industry is undergoing a significant transition towards automation and robotics, which is expected to increase production and safety, further stimulating coal production.

Furthermore, the growth of the market for semiconductor and carbon brushes, which are widely used in TVs, security systems, computers, electric motors, mobile phones, and many other electronic products, would help pitch coke expand. Furthermore, Pitch Coke use will be boosted by a rise in government initiatives to use solar panels in residential and non - residential structures, as well as increased demand for electrodes.

Pitch Coke Market Restraints:

The restraining factors that are hindering the growth of the global pitch coke market are- the depletion of the resources, and affecting of solar panels. The depletion of resources is a major issue in the global pitch coke market as the risk is high and the resources are low. Pitch coke is a coal-derived substance that is a nonrenewable energy source. As a result, once it is spent, it cannot be replenished. Companies are focusing their efforts on creating pitch coke substitutes as a countermeasure to the decline of coal sources. Government measures aimed at reducing pollution from coal mines are projected to have an impact on the entire pitch coke industry.

Climate change has an impact on the performance of solar panels and, as a result, on the utilization of solar panels in diverse applications.

PITCH COKE MARKET REPORT COVERAGE:

Market Segmentation:

Pitch Coke Market By Type:

• Fuel Grade Pet Coke

• Other Grade Pet Coke

The fuel-grade pet Coke is expected to hold the largest share. Fuel Grade Pet coke used in electric power plants & cement kilns has a very high heating value (BTUs per pound) and generates almost little ash when burned. Petroleum coke is being used to make energy and steel since it is a carbon source. The Fuel grade pet coke segment is represented roughly 80 % of worldwide pet coke production.

Pitch Coke Market By Application:

• Aluminum Electrode Material
• Carbon Specialties Material
• Others

The Aluminum Electrode Material is expected to hold the largest share. The electrode is made of aluminum alloy. This material is an aluminum electrode with outstanding color matching that may be used to weld any weldable grade of aluminum. Strong, dense, porosity-free, and crack-free deposits are produced by high-quality welds. It's simple to operate since it has a fast weld rate, minimal spatter, and smooth operation.

Pitch Coke Market By End-Use:

• Aluminum Anode
• Artificial Graphite Electrode
• Recarburizers
• Carbon Specialty
• Carbon Additive
• Antifriction
• Flame-Retardant
• Refectories

Because of the rising aluminum sector, the aluminum anode category is expected to have the biggest market share. A form of sacrificial anode is an aluminum anode. It's termed a sacrificial anode because it chooses to corrode itself rather than a more valuable metal object or piece of equipment.

The Pitch Coke Market Report includes the segmentation of Region:

• North America 

• Europe 

• Asia Pacific 

• Latin America

• Middle East and Africa 

The Asia Pacific is expected to account for the majority of the worldwide pitch coke market during the forecast period, as there can be an increased attribute to an increase in government investment in rural power provision in emerging countries such as India & China. This is driving up the requirement for solar panels, which are very inexpensive.

In North America, there is an expansion for higher product acceptance in electrodes and refectories and this will help the global pitch coke market to fuel up in Northern America, which is led by the United States and Canada.

Increased usage of the chemical in recarburizers and flame retardant applications is driving growth in Europe. 

In the Middle East and Africa, Due to the use of pitch coke in antifriction, the Middle East and Africa are expected to see a substantial increase.

Impact of COVID-19 (Pitch Coke Market):

The epidemic has spread to practically every country around the globe since the COVID-19 viral outbreak in 2020, with the World Health Organization (WHO) declaring coronavirus illness as a pandemic. The worldwide population has restricted themselves from leaving their homes and is on the verge of doing so, which is having a negative or positive impact on all markets. The coronavirus has wreaked havoc on the entire planet. In practically every country, lockdowns and substantial social isolation measures have been introduced. The global pitch coke market had its Supply networks have been disrupted as a result of this. The epidemic has wreaked havoc on the global market.

Market Key Players:

The key players in the Pitch Coke Market are:

• Mitsubishi Chemical

• Shamokin Carbons

• RESORBENT

• Baosteel Chemical

• Tianjin Yunhai Carbon

• Jining Carbon

• Shaanxi Coal and Chemical Industry Group

• Asbury Carbons

• Ningxia Wanboda