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Global Pitch Coke Market Size, Share, Analysis, Forecast: By End Use: Aluminium Anode, Electrode, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Price Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
Global Pitch Coke Market Outlook
The global pitch coke market size reached nearly 7,900.20 KMT. The market is projected to grow at a CAGR of 1.7% between 2024 and 2032 to attain a volume of approximately 9,312.40 KMT by 2032.
Key Takeaways
- Regions such as China, Europe, and North America registered an annual aluminium smelting capacity of 42.16 MMT, 2.7 MMT and 4.91 MMT respectively in 2021.
- NIPPON STEEL Chemical & Material Co., Ltd., Mitsubishi Chemical Corporation, and Shanghai Baosteel Chemical Co. Ltd. are a some major companies in the market.
- The market is being propelled forward by the increasing demand for aluminium anode and electrodes.
Pitch coke is a carbon-rich solid material that is produced from coal tar pitch during coke production. In appearance, it is black, brittle, and strong. Pitch coke is lustrous at room temperature and physiochemically stable. It is mainly characterised by its high carbon content (approximately 98% C) and contains around 0.6 to 0.8% sulphur and a maximum of 0.6% volatile component.
The global pitch coke market is experiencing robust growth, primarily propelled by the increasing demand for aluminium and steel. This heightened demand is closely linked to the surge in global aluminium and steel production, which is a direct result of the escalating levels of industrial activities worldwide.
Some other factors driving the global pitch coke market growth are technological advancements in the mining industry, increasing demand for aluminium in the automotive sector, and rising demand for graphite electrodes in EAF steelmaking.
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Key Trends and Developments
Surge in aluminium demand; rising demand for graphite electrodes; increasing adoption of battery storage technology; and technological advancements in the mining sector are the major factors aiding the pitch coke market growth
| Date | Company | Details |
| October 2023 | POSCO | Initiated a trial run for in-house production of high-temperature pitch, a critical anode material for batteries. |
| February 2023 | POSCO | Commenced the construction of its second synthetic graphite anode material plant, with an annual capacity of 10,000 tons, in Pohang, South Korea. |
| Trends | Impact |
| Surge in aluminium demand | Pitch coke holds a pivotal position in the aluminium smelting process. As the demand for lightweight materials continues to surge, the aluminium industry is witnessing a significant growth. |
| Increasing adoption of battery storage and high demand for graphic electrodes | Graphite electrodes are important raw materials for lithium-ion batteries used in electric vehicles, solar energy storage, power banks, pacemakers, digital cameras, and other electronics. |
| Rising aluminium demand in the electronics sector | The transition to green energy sources is expected to drive the demand for aluminium, surging the use of pitch coke. |
| Rising demand for graphite electrodes | The rising demand for graphite electrodes in EAF steelmaking and an increase in aluminium smelting capacity are aiding the demand for pitch coke. |
| Growing aluminium demand in the automotive sector | The expanding demand for lightweight electric vehicles drives the demand for aluminium in automotive production. |
| Increasing steel demand in the construction sector | The steel industry relies heavily on pitch coke to manufacture carbon anodes through the electric arc furnace method. The construction sector accounts for more than 50% of the global steel demand. |
Global Pitch Coke Market Trends
The market for pitch coke is primarily influenced by the rising demand from end-use applications such as aluminium and the surging demand for graphite electrodes. Aluminium is the largest application for calcinated petroleum coke. As the global aluminium market is expected to witness a robust growth, the demand for pitch coke is likely to grow in the forecast period.
Furthermore, pitch coke is used in the production of carbon anodes, which play a pivotal role in smelting aluminium. As the demand for lightweight materials continues to surge, the aluminium industry is in a state of perpetual growth. Simultaneously, the steel industry relies heavily on pitch coke to manufacture carbon anodes through the electric arc furnace method.
Figure: Aluminium semi-finished products consumption, 2020 vs 2030, MMT
Market Segmentation
Global Pitch Coke Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
| Market Breakup | Categories |
| End Use | Aluminium Anode, Electrode, Others |
| Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
Aluminium anode is expected to dominate the pitch coke market share due to the increasing focus on low-carbon aluminium smelting technology
Pitch coke plays an important role in the production of carbon anodes, used in the Hall-Héroult process for smelting aluminium. During this process, alumina is electrolytically reduced into aluminium metal. Growing demand for aluminium is driving rising investments by key players in aluminium smelting.
The demand for aluminium is expected to experience significant growth over the next decade, increasing by 33.3 million metric tons (Mt) from 86.2 Mt in 2020 to 119.5 Mt in 2030. Approximately 37% is expected to come from China, followed by 26% from the rest of Asia (excluding China), 15% from North America, and 14% from Europe.
Meanwhile, graphite electrodes are integral in steel production via Electric Arc Furnaces (EAF). Pitch coke is widely utilised as a key raw material in the production of these graphite electrodes. Increasing investment from private players and governments in decarbonisation and increasing steel demand are crucial in aiding the graphite electrodes market.
Competitive Landscape
Market players in the pitch coke market are increasing their collaboration, partnership, and research and development activities to gain a competitive edge
| Company Name | Year Founded | Headquarters | Products/Services |
| NIPPON STEEL Chemical & Material CO., LTD. | 1956 | Japan | Provides pitch coke, pitch, naphthalene, phthalic anhydride, tar acids, pyridines, and methyl naphthalenes. |
| Mitsubishi Chemical Corporation | 1933 | Japan | The company's primary output is pitch coke, derived from coal tar generated during coke production. |
| Shanghai Baosteel Chemical Co., Ltd. | 1985 | China | Benzene, naphthalene, phenols, quinoline, oils, coumarone, ammonia sulphate, carbazole, anthraquinone, pitch coke, and carbon black. |
| Sojitz Corporation | 2003 | Japan | Plays a critical role in the supply chain, offering a reliable source of products such as pitch coke for electric steelmaking furnaces and lithium battery raw materials. |
Other key players in the pitch coke market include Asbury Carbons Inc., POSCO MC Materials, and Shaanxi Coal and Chemical Industry Group Co., Ltd., among others.
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Global Pitch Coke Market Analysis by Region
Pitch coke consumption in the Asia Pacific is expected to increase significantly due to growth of various industrial sectors, including steel, aluminium, and automotive. Pitch coke is used as a crucial raw material in electrode production. In 2022, China's annual aluminium production increased by 4.5% compared to the 2021. The increasing demand for lightweight metals, particularly in the construction, transportation, and packaging sectors, is contributing to the growing demand for aluminium in this region.
The Europe pitch coke market is being driven by the higher demand for primary aluminium due to its diverse applications in end-use sectors. Russian electrode leader, Energoprom (EPM) Group, in collaboration with the Ministry of Industry and Trade of the Russian Federation and the Government of the Rostov Oblast, entered into a special investment contract aimed at modernising the production of graphite electrodes at the EPM – Novocherkassk Electrode Plant. Such modernisation activities are expected to positively impact the market for pitch coke in Europe.
North America holds a substantial share of the pitch coke market, driven by the significant production of primary aluminium in Canada. The country exports about 90% of its primary aluminium produce to the USA, due to its rising demand from key end-use industries like solar panels, construction, electronics, and aerospace and defence, among others in the USA.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by End-use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Pitch Coke Market Analysis
8.1 Key Industry Highlights
8.2 Global Pitch Coke Historical Market (2018-2023)
8.3 Global Pitch Coke Market Forecast (2024-2032)
8.4 Global Pitch Coke Market by End-use
8.4.1 Aluminium Anode
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Electrode
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Others
8.5 Global Pitch Coke Market by Region
8.5.1 North America
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Europe
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Asia Pacific
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Latin America
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Middle East and Africa
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
9 North America Pitch Coke Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Pitch Coke Market Analysis
10.1 Russia
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Norvey
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Iceland
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Germany
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 France
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
10.6 Others
11 Asia Pacific Pitch Coke Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 India
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Australia
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 New Zealand
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Malaysia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Pitch Coke Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Venezuela
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Pitch Coke Market Analysis
13.1 United Arab Emirates
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Bahrain
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Saudi Arabia
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Qatar
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Data Analysis
16.1 Major Exporting Countries
16.1.1 By Value
16.1.2 By Volume
16.2 Major Importing Countries
16.2.1 By Value
16.2.2 By Volume
17 Price Analysis
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 NIPPON STEEL Chemical & Material CO., LTD.
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 Mitsubishi Chemical Corporation
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 Shanghai Baosteel Chemical Co., Ltd.
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 Sojitz Corporation
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 Asbury Carbons Inc.
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.2.6 POSCO MC Materials
18.2.6.1 Company Overview
18.2.6.2 Product Portfolio
18.2.6.3 Demographic Reach and Achievements
18.2.6.4 Certifications
18.2.7 Shaanxi Coal and Chemical Industry Group Co., Ltd.
18.2.7.1 Company Overview
18.2.7.2 Product Portfolio
18.2.7.3 Demographic Reach and Achievements
18.2.7.4 Certifications
18.3.8 Others
19 Key Trends and Developments in the Market
Additional Customisations Available
1 Manufacturing Process
1.1 Overview
1.2 Detailed Process Flow
1.3 Operation Involved
2 Project Requirement and Cost Analysis
2.1 Land, Location and Site Development
2.2 Construction
2.3 Plant Machinery
2.4 Cost of Raw Material
2.5 Packaging
2.6 Transportation
2.7 Utilities
2.8 Manpower
2.9 Other Capital Investment
List of Key Figures and Tables
1. Global Pitch Coke Market: Key Industry Highlights, 2018 and 2032
2. Global Pitch Coke Historical Market: Breakup by Application (USD Million), 2018-2023
3. Global Pitch Coke Market Forecast: Breakup by Application (USD Million), 2024-2032
4. Global Pitch Coke Historical Market: Breakup by End-use (USD Million), 2018-2023
5. Global Pitch Coke Market Forecast: Breakup by End-use (USD Million), 2024-2032
6. Global Pitch Coke Historical Market: Breakup by Region (USD Million), 2018-2023
7. Global Pitch Coke Market Forecast: Breakup by Region (USD Million), 2024-2032
8. North America Pitch Coke Historical Market: Breakup by Country (USD Million), 2018-2023
9. North America Pitch Coke Market Forecast: Breakup by Country (USD Million), 2024-2032
10. Europe Pitch Coke Historical Market: Breakup by Country (USD Million), 2018-2023
11. Europe Pitch Coke Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Asia Pacific Pitch Coke Historical Market: Breakup by Country (USD Million), 2018-2023
13. Asia Pacific Pitch Coke Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Latin America Pitch Coke Historical Market: Breakup by Country (USD Million), 2018-2023
15. Latin America Pitch Coke Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Middle East and Africa Pitch Coke Historical Market: Breakup by Country (USD Million), 2018-2023
17. Middle East and Africa Pitch Coke Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Historical Price Trends and Forecast 2018-2032
19. Major Exporting Countries by Value
20. Major Importing Countries by Value
21. Major Exporting Countries by Volume
22. Major Importing Countries by Volume
23. Global Pitch Coke Market Structure
Key Questions Answered in the Report
In 2023, the global market volume was nearly 7,900.20 KMT.
The market is projected to grow at a CAGR of 1.7% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach around 9,312.40 KMT by 2032.
One of the major market drivers includes increasing demand for aluminum and steel from end use sectors such as construction, automotive, and energy.
The key trends include the rising demand of graphite electrodes in EAF steelmaking and the growing aluminium demand in lightweight materials.
The major end uses of pitch coke include aluminium anode, electrode, others.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The major players in the market include NIPPON STEEL Chemical & Material CO., LTD., Mitsubishi Chemical Corporation, Shanghai Baosteel Chemical Co., Ltd., Sojitz Corporation, Asbury Carbons Inc., POSCO MC Materials, and Shaanxi Coal and Chemical Industry Group Co., Ltd., among others.
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