Petroleum Pitch Market to 2030 |Growth, Analysis, Trends, Industry Analysis and Overview

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 is excessively consumed for the production of aluminum anodes. A rise in the production level of aluminum nodes is further anticipated to aid the proliferation of the market. In addition, the growth of the automobile industry is presumed to influence the revenue generation of the petroleum pitch market size positively in the forthcoming years. The increasing demand for pitch-based carbon fibers for the manufacturing of automotive and aircraft brake pads is expected to boost the growth trajectory of the market across the review period.

The increase in projects undertaken by the governments for infrastructural development is poised to generate demand for petroleum pitch in the upcoming years. Nevertheless, the expanding market presence of PAN as an alternative is presumed to check the expansion of the petroleum pitch market over the assessment period.

Access Full Report Details and Order this Premium Report @ https://www.marketresearchfuture.com/reports/petroleum-pitch-market-7177

Global Market for Petroleum Pitch – 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.

Global Market for Petroleum Pitch – Segmental Analysis:

This MRFR report offers a detailed segmental analysis of the global petroleum pitch application market report 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 global petroleum pitch industry 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 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.

Read more reports at: https://www.marketresearchfuture.com/categories/chemicals-market-report

Read more details at: https://www.marketresearchfuture.com/videos

Read more details at: https://www.marketresearchfuture.com/infographics 

Comments

Post a Comment

Popular posts from this blog

Zinc Market Overview, Demand, Global Industry Share, COVID-19 Analysis and Growth 2023

Zinc Market Overview The global zinc market is projected to surpass 1,012 thousand tons in terms of volume during 2019–2024. The demand for zinc is primarily driven by the high demand for corrosion resistance coatings in metals and steels parts used in the automotive and aerospace industries. Zinc is also used for alloying metals such as bronze and brass. In addition, zinc is used as a corrosion resistance material in the buildings and construction industry. The increasing use of steel in construction activities is expected to boost the demand for zinc during the forecast period. Zinc Market Segmentation Based on application, the global  COVID-19 analysis on zinc market report has been segmented into galvanizing, die casting, and others. Galvanizing is the process of dipping steel and metal in molten zinc to produce a corrosion resistant layered coating of zinc-iron alloy and zinc metal. During the process of immersing steel in zinc, a metallurgical reaction occurs...
Read more

Industrial Fabrics Market Analysis, Growth, Overview, Trends, Demand and Industry Forecast 2030

Industrial Fabrics Market overview The global industrial fabrics market has been segmented by fiber type, application, and region. By fiber type, the global industrial fabrics market has been divided into polyamide, polyester, aramid, composite, and others. The polyester segment is leading the market owing to its superior properties such as strong, flexible, dries quickly, resists wrinkles and shrinking, and inexpensive. The aramid fibers segment is expected to register a highest CAGR owing to the increasing demand from the protective and flame-resistant clothing during the review period. Based on application, the market has been segmented into automotive carpet, conveyor belts, transmission belts, protective apparels, flame resistant apparel, filter media, and others. The automotive carpet accounted for a major market share in 2017, owing to the high production and sales of automobiles across the globe. This can be attributed to the high disposable income and the luxurious lifes...
Read more

Specialty Polyamide Market, Overview, Size, Share, Trends, Demand, Key Player profile and Regional Outlook by 2030

Specialty Polyamide   Market Dynamics The global specialty polyamide market is expected to exhibit steady growth over the forecast period, according to the latest research report from Market Research Future (MRFR). The growing demand from the transportation sector is likely to be a crucial driver for the global specialty polyamide market over the forecast period, according to the report. Specialty Polyamide   Market Competitive Analysis: Leading players in the global specialty polyamide market include Radici Group, INVISTA S.r.l., Solvay S.A., LG Chem Ltd., E.I. DuPont de Nemours and Company, Koninklijke DSM N.V., Asahi Kasei Corporation, Arkema SA, BASF SE, and Evonik Industries AG. In July 2019, Evonik, one of the leading players in the global polymers market size, confirmed their presence at the 2019 K2019 plastics trade show in Dusseldorf. Specialty Polyamide   Market Segmentation: The  specialty polyamide industry  is segmented on the basis...
Read more