The Global Coal Tar Market size
on the basis of product type spans birch tar, coal tar, pine tar and pitch
among others. The production of tar is generally done with the help of a wide
range of natural materials via the process of destructive distillation. The
mining of tar can be done from petroleum, coal, peat and wood. It is generally
a combination of free carbons as well as hydrocarbons. Products that resemble
the tar can be extracted from hydrocarbons.
It is deployed in carbon black
and deep processing. The tar sand deposits comprise blending of heavy crude and
mixture of sand. The Coal tar is usually manufactured when the process of coal
carbonization is carried out that is why it is recognized as a by-product of
coke production. In general, it appears as a highly sticky liquid in black or
brown color.
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Tar Market Report at : https://www.millioninsights.com/industry-reports/coal-tar-market
It is basically a variable and
composite blend of phenols, heterocyclic compounds as well as polycyclic
aromatic hydrocarbon. One of the prominent factors that is contributing
significantly in raising the coal tar market share include augmented demand for
tar in the industrial, medical sectors and sealing of roads. The only thing
that is becoming a major hurdle in the overall growth of the coal tar market is
that tar cannot be employed in the extracted and mined state, as it is usually
in solid form. In order to make it more apposite for further utilization, it is
normally heated and given enough warmth at high temperature.
Other key restraint for the coal
tar market growth is the cost of heating furnace that ultimately lays
additional load on the consumer side. Nevertheless, rise in the applications of
various industries including manufacturing of diesel and gasoline oil through
high pressure hydrogenation and power generation for heating boilers is
estimated to keep the level of demand balanced for tar till the next couple of
years. It is known that coal tar deep-processed products play a very major part
as raw materials for pharmaceuticals, agricultural chemicals, dyes, and
synthetic fibers.
They possess strong profitability
that propels many leading manufacturers to put in more money in coal tar
deep-processing projects. Coal tar Market size on the basis of end-user
application spans pavement sealcoats, industries and medical sector. Market
size on the basis of geographical region spans China, Japan, Southeast Asia,
and India.
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As far as the geography is
concerned, North America is currently leading the coal tar market and it is
considered as a key market for the tar industry, the reason being increase in
the domestic production that has eventually augmented the level of demand from
the aluminum, graphite and other coal tar pitch end-use sectors. Canada is the
one which is mainly contributing in raising the share of the tar market in
North America.
On the contrary, Asia Pacific is
also coming up as one of the promising regions. China is significantly
contributing in boosting the share of the market in Asia Pacific and it is
believed to be the key producer of tar possessing a capacity of 11 million tons
of tar. Major companies operating in the global coal tar market include BOC
Sciences, Rain CII, Himadri, Rutgers Group GmbH, HIMADRI, KOP, CABOT, Elkem,
Tokai Carbon, NIPPON STEEL & SUMIKIN CHEMICAL CO., LTD., Koks, Black Cat
Coking Co., Coking Co., Ltd., Antai Group Co., Ltd., Jinlong Machinery Co, Ltd,
and Jinshenglong Chemical Plant.
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