Petroleum Pitch Market Global Size, Dynamic Demand and Production Forecasts, End-Use Demand Details, Price Trends, Growth Share Analysis By 2023
Petroleum Pitch Market Overview:
According to Market Research Future (MRFR)’s analysis, the global petroleum pitch market is poised to strike a CAGR of 3.03% during the forecast period 2018 to 2023. The valuation of the market has been estimated to touch USD 1,135.1 Mn by 2023-end up from USD 954.1 Mn in 2017.
Petroleum pitch has developed application across the production process of various carbon-based products such as clay pigeons, refractory bricks, and carbon fibers. Although the market is on the verge of entering a phase of maturity, the growing demand for carbon-based products is likely to accelerate revenue creation for the market players.
Petroleum Pitch Market Key Players:
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,
- Puyang Changyu Petroleum Resins Co. Ltd.,
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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 2017 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 Analysis:
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 2017 to USD 402.1 Mn by the end of 2023. 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.
Petroleum Pitch Market Table of Content:
1 Executive Summary
2 Market Introduction
3 Market Insights
4 Research Methodology
5 Market Dynamics
Petroleum Pitch Market Table of Content to be Continue……,
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