Petroleum Pitch Market Global Research Report: Information by Type (High Performance, Universal), Application (Brake Pads, Road Surface Sealings, Aluminum Anodes, Insulation, Refractory Bricks) and Region (Asia-Pacific, North America, Europe, Latin America and the Middle East & Africa) – Forecast till 2025
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Petroleum Pitch Market Overview:
Pitch refers to a viscoelastic polymer which can be natural or manufactured. It can be derived from petroleum, plants, or coal tar. Petroleum pitch is an alternative to coal tar pitch. The PAH level in petroleum pitch is up to 10 times higher than that of coal tar pitch. Different applications of petroleum pitch include the production of clay pigeons, refractory bricks, and also to impregnate graphite electrodes. Apart from this, petroleum pitch is also used as a blend in coal tar pitch. The petroleum pitch market has been studied by Market Research Future (MRFR) for the forecast period of 2019-2025. The Global Petroleum Pitch Market was valued USD 977.7 Million in 2018 and is expected to exhibit around 3% CAGR during the forecast period.
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Several factors are influencing a positive ascension in the global petroleum pitch market. Petroleum pitch is highly used for the production of aluminum nodes. A rise in the production levels of aluminum nodes is further expected to push viable growth in the global petroleum pitch market. Additionally, accelerated growth in the automotive industry is likely to fuel the revenue generation of the petroleum pitch market in the coming years. Increasing demand for pitch-based carbon fibers used in the manufacturing of aircraft and automobile brake pads is expected to propel growth in the petroleum pitch market during the assessment period.
Petroleum Pitch Industry Update:
July 2019: Suncor Energy and Cenovus Energy heads announced that they were in talks with the Canadian government on a strategy that would allow companies to produce more oil than their monthly quotas. This would require the companies to demonstrate that they have added incremental crude-by-rail capacity to carry extra oil to the market.
Petroleum Pitch Market Competitive Dashboard:
Some of the prominent players operating in the global petroleum pitch market are Cytec Industries, Inc., Mitsubishi Chemical Corporation, Koppers Inc., Rain Carbon Inc., ORG CHEM Group, and Puyang Changyu Petroleum Resins Co. Ltd.
Petroleum Pitch Market Segmental Analysis:
This MRFR report offers a detailed segmental analysis of the global petroleum pitch market based on type and application. By type, the market has been segmented into high performance, universal, and others. Among these, the high-performance segment held the largest share of the market in 2019 and is poised to grow steadily at 3.46% CAGR over the assessment period. The growth of the major end-user industries such as automotive, aerospace, construction, and chemicals are anticipated to propel the expansion of the segment.
By application, the petroleum pitch market has been segmented into brake pads, road surface sealings, aluminum anodes, insulation, refractory bricks, and others. The brake pads segment, accounting for the maximum market share, is projected to touch a valuation of USD 1,135.1 Mn by the end of the review period. The increasing demand for lightweight brake pads from the automotive as well as aerospace industries are projected to catalyze the proliferation of the segment.
Petroleum Pitch Market Regional Outlook:
The regional assessment of the global petroleum pitch market spans across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia Pacific held the largest share of the global market accounting for 34.72% share. It has been forecasted to grow from USD 331.3 Mn in 2019 to USD 402.1 Mn by the end of 2025. The rise in the standard of living as well as disposable income in the region has led to the growth of the automotive industry. This, in turn, has been presumed to increase the consumption of petroleum pitch in the region.
North America stands at the second spot in the global petroleum pitch market. The presence of developed economies such as the U.S. and Canada are projected to unleash growth opportunities for the market participants over the next couple of years.
Europe is anticipated to hold a significant share of the global market. Its valuation is estimated to reach USD 271.94 Mn by the end of 2025 up from USD 234.36 Mn in 2019. Germany is expected to lead the growth of the petroleum pitch market in the region in the foreseeable future.
The Middle East & Africa is set to capture the least share of the market by the end of the assessment period. GCC resonates strong growth potential for growth and is expected to expand at the highest CAGR in the region.
Petroleum Pitch Market Table Of Contents:
1 Executive Summary
2 Market Introduction
3 Market Insights
4 Research Methodology
5 Market Dynamics
Petroleum Pitch Market Table of Content to be Continue……,
Petroleum Pitch Market List Of Tables:
Table 1 Market Synopsis
Table 2 List Of Assumptions
Table 3 Global Petroleum Pitch, By Type, 2016–2025 (Usd Million)
Table 4 Global Petroleum Pitch Market, By Type, 2016–2025 (Kilotons)
Table 5 Global Petroleum Pitch Market For High Performance, By Region, 2016–2025 (Usd Million)
Petroleum Pitch Market List Of Tables to be Continue…….,
Petroleum Pitch Market List Of Figures:
Figure 1 Global Petroleum Pitch Market: Market Structure
Figure 2 Key Takeaways Of The Global Petroleum Pitch Market
Figure 3 North America: Market Size And Market Share, By Country (2018 Vs 2025)
Figure 4 Europe: Market Size And Market Share, By Country (2018 Vs 2025)
Figure 5 Asia-Pacific: Market Size And Market Share, By Country (2018 Vs 2025)
Petroleum Pitch Market List Of Figures to be Continue…….,
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