27 Jun 2019 - Global Coal Tar
Market is predicted to grow
significantly in the forecast period owing to the increasing applications of
coal tar in medical & industrial segment and sealing of roads. Coal tar is
basically a thick liquid and a byproduct of the formation of coal gas and coke
from coal. Coal tar is used in combination with ultraviolet light therapy. It
is also used as medication on the skin to cure flaking, itching, and scaling
due to disorders like seborrheic dermatitis or psoriasis. Medically, coal tar
is a drug called ‘keratoplastics’ and works by shedding dead cells of the top
layer and reduces the growing of the skin cells. This reduces scaling &
dryness and reduces itching from the skin disorders.
The
rising demand in the medical and industrial sector, and sealing of public roads
are majorly driving the growth of coal tar market. Tar cannot be efficiently
used in the extracted state since it is normally heated at high temperatures
for the particular application. High cost of heating furnace is not affordable
by the end users which hampers the growth of coal tar market. Nevertheless,
increase in industrial applications like production of gasoline oil and diesel
through in-power generation and high-pressure hydrogenation for heating boilers
is predicted to boost worldwide demand for coal tar in future, thereby driving
the coal tar market.
The
market is categorized on the basis of product, applications, end user and
geography. On the basis of product, market is divided into high temperature
coal tar, medium temperature coal tar, and low temperature coal tar. Based on
application, market is split into pitch, pine tar, birch tar, carbon black,
wash oil and others. On the basis of end user, market is divided into pavement
sealcoats, medical industries and other sectors. Geographically, market is
segmented as North America, Europe, Asia Pacific, and RoW (Rest of the World).
North America, especially Canada is predicted to hold larger market for coal
tar market due to extensive industrial use.
The
key players in coal tar market include Baowu Steel Group, OCI, Baoshun, JFE
Chemical, Koppers, Himadri Chemicals & Industries, Huanghua Xinnuo Lixing,
POSCO, Rain Industries Limited, Sunlight Coking, Nippon Steel & Sumitomo
Metal, and Shanxi Coal and Chemical.
Market Segment:
Key Applications
•
Chemical Processing
•
Carbon Black
Key Regions
•
North America
•
Europe
•
Asia Pacific
•
Middle East and Africa
•
South America
Key Vendors
•
AM
•
Erdemir
•
EVRAZ
•
Metinvest
•
MMK
•
NLMK
•
SEVERSTAL
•
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