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Pitch Coke Market by Type (Raw Coke, Calcined Coke) by Application (Aluminium Anode, Artificial Graphite Electrode, Decarburized, Carbon Specialty, Carbon Additive, Crucibles for Semiconductors, Equipment for Solar Array Panel, Others) – Ukraine War, Future Prospects And Competitive Analysis, 2016 - 2028

Pitch coke is an important material used in manufacturing electrodes and anodes. Pitch coke is also used in various industries as it makes shaping different mixed materials easier. Raw Coke and calcined coke can be segmented as Pitch Coke based on type. Calcined coke accounted for a significant chunk of total revenue generated by the global pitch coke market.

Global Pitch Coke market generated over USD 813.78 million in 2021. It is expected to exhibit a negative CAGR of over 2.45% during the forecast period to reach around USD 684.07 million by the end of 2028. In contrast, the cumulative growth opportunity offered by the global Pitch Coke market stood above USD 5,164 million for the analysis period ranging from 2022 to 2028. Global Pitch Coke market in terms of volume stood above 850-kilo tons.    

pitch-coke-market

Interesting Facts about Pitch Coke Industry

  • Sources of Pitch Coke are rapidly depleting
  • Pitch Coke is a significant precursor of production equipment for semiconductor or solar panel
  • Pitch Coke market is expected to exhibit a slow decline over the forecast period
  • China dominates the production as well as consumption of Pitch Coke
  • Artificial Graphite electrodes and Aluminium Anode are major application markets for Pitch Coke

Impact of Covid-19 on Global Pitch Coke Market

Covid-19 significantly impacted the pitch coke market due to considerable declines in demand and prices of electrodes. In addition, the closure and disruption of supply chains globally also affected the market considerably. Also, the steel industry experienced extensive troubles, impacting this industry over the pandemic period. 

Strong Demand for Pitch Coke from Aluminium Anode Industry

There are multiple driving factors behind the global pitch coke market. The first is the aluminum industry. The aluminum industry is also expecting to rise during the forecasted period, which will, in turn, fuel the growth of the pitch coke industry. Pitch coke is one of the materials used to produce anodes in the aluminum industry. 

Slow Yet Steady Demand for Pitch Coke in Automotive Industry

Another major driving force in this industry is the automotive industry. The automotive industry uses pitch coke to produce many things like carbon composites and carbon fibers. The automotive industry uses carbon fibers and composites in parts as carbon products are less weighty while still providing better strength.

Augmented Demand for Pitch Coke in Solar Panels

The growing urbanization globally and the increase in the use of solar panels globally will be a driving force in the industry. There is a decline in prices of the commodities used in solar panel production, which is expected to grow the pitch coke market. The growing prices of electricity and the dropping costs and the broader availabilities of solar panels are expected to elevate the market further. 

Depletion of Natural Resources to Arrest the Growth of Pitch Coke 

The most significant restraining factor the pitch coke market is expected to face over the forecasted period is the depletion of natural coal resources. Itch coke is a product that is made from coal, which is a nonrenewable energy source. This means once a source of coal is depleted, it can't be used again, which could impede this industry. As a result, manufacturers are working hard to develop alternatives to pitch coke to counter the depleting levels of coal globally.

Aluminium Anode and Artificial Graphite Electrode to Rule the Demand for Pitch Coke

Aluminum Anode, Artificial Graphite Electrode, Decarburized, Carbon Specialty, Carbon Additive, Crucibles for Semiconductors, Equipment for Solar Array Panel, and Others are major application markets for pitch coke. As a result, aluminum Anode and Artificial Graphite Electrode accounted for the largest share of the total revenue generated by the global pitch coke industry in 2021. While Carbon Specialty, Carbon Additive, Crucibles for Semiconductors, and Equipment for Solar Array Panel are expected to grow in market share over the forecast period.

Stringent Government Regulation on Production as well as Consumption of Pitch Coke

The second major restraint this industry faces over the next few years is the growing government regulations due to the pollution caused by coal mining. These government regulations and the ever-increasing environmental concerns by the general public are expected to hamper the growth of the pitch coke market. Therefore, stringent regulation regarding the production and consumption of pitch coke in Europe and North America is a significant hurdle for growth.

The Asia Pacific is dominated by China, with the largest share in production well consumption of pitch coke. India, Japan, and South Korea are other promising markets for the pitch coke industry in the region. While Brazil is ruling the Latin America pitch coke market with over half the market share in 2021.

Frequently asked questions about global Pitch Coke industry

Like other industries, Pitch Coke market also suffered from COVID 19 pandemic which resulted into decline of over 10.68% in revenue generated in 2020

Asia Pacific is the largest regional market with highest share in the total volume of Pitch Coke consumed in 2021

Growing popularity of Pitch Coke in aluminium anode and graphite electrode is mainly fuelling the demand

Calcinated Coke segment dominated the Pitch Coke market in 2021 with over 55% share

Aluminium Anode and Artificial Graphite Electrode segment was the largest application of Pitch Coke in 2021 with over 35% share

Pitch Coke Report Scope

Report Attribute Details
Market Value in 2021 USD 813.78 million
Market Value in 2028 USD 684.07 million
CAGR -2.45% between 2021 and 2028
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
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Trusted By
Godaddy
Published Date:  Aug 2022
Category:  Chemicals
Report ID:   60542
Report Format:   PDF
Pages:   192
Rating:    4.8 (70)
Delivery Time: 24 Hours to 48 Hours   
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