21st June 2019 – Global Coal Tar Market is predicted to grow significantly in the forecast period owing to the increasing applications of coal tar in medical & industrial segment and sealing of roads. Coal tar is basically a thick liquid and a byproduct of the formation of coal gas and coke from coal. Coal tar is used in combination with ultraviolet light therapy. It is also used as medication on the skin to cure flaking, itching, and scaling due to disorders like seborrheic dermatitis or psoriasis. Medically, coal tar is a drug called ‘keratoplastics’ and works by shedding dead cells of the top layer and reduces the growing of the skin cells. This reduces scaling & dryness and reduces itching from the skin disorders.
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The rising demand in the medical and industrial sector, and sealing of public roads are majorly driving the growth of coal tar market. Tar cannot be efficiently used in the extracted state since it is normally heated at high temperatures for the particular application. High cost of heating furnace is not affordable by the end users which hampers the growth of coal tar market. Nevertheless, increase in industrial applications like production of gasoline oil and diesel through in-power generation and high-pressure hydrogenation for heating boilers is predicted to boost worldwide demand for coal tar in future, thereby driving the coal tar market.
Key Applications
- Chemical Processing
- Carbon Black
Key Vendors
- AM
- Erdemir
- EVRAZ
- Metinvest
- MMK
- NLMK
- SEVERSTAL
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Key Regions
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
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