Coal Tar Pitch Market Robust Growth, Aiming for US$ 9.2 Billion by 2034
The coal tar pitch industry is projected to experience a CAGR of 6.20%, with a significant increase in value from US$ 5,076.30 million in 2024 to US$ 9,237.50 million by 2034.
The aluminum industry is the largest consumer of coal tar pitch. It is used as a binder in the production of carbon anodes, which are used in the electrolytic process of producing aluminum. The demand for aluminum is constantly increasing due to its lightweight, excellent conductivity, and corrosion resistance properties. Global aluminum consumption is expected to reach 72 million metric tons by 2030, which will drive the demand for coal tar pitch.
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