Global Petroleum Pitch Market Size By Form (Solid and Liquid), By Application (Road Surface Sealings, Li Battery Anode, Insulation, Refractory Bricks, Aluminum Anode), By Geographic Scope And Forecast

Petroleum Pitch Market Size And Forecast

Petroleum Pitch Market size was valued at USD 769.31 Million in 2024 and is projected to reach USD 1139.23 Million by 2031, growing at a CAGR of 5.03% from 2024 to 2031.

The growth of this market is mainly attributed to the constantly rising demand for aluminium and steel and the growing automobile and aerospace industry. The Global Petroleum Pitch Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Petroleum Pitch Market Definition

The petroleum pitch is an alternative and supplement to the coal tar pitch. The PAH level is up to 10 times lower than coal tar pitch without a reduction in the carbon content. In addition to making clay pigeons and refractory bricks, petroleum pitch is used to impregnate graphite electrodes. It is blended into a coal tar pitch along with other specialized uses. Petroleum pitches exhibit various characteristics, especially in the structure, size, and degree of aliphatic substitution of the large polycyclic aromatic hydrocarbons (PAH) components. As a result, they are a significant source of far various carbon compounds, primarily due to thermal changes. A mixture of conventional physicochemical methods, including elemental analysis, penetration, softening point, viscosity, FTIR spectroscopy, TLC-FID, and 1 H NMR spectroscopy, has been used to characterize two commercially available petroleum pitches (P-I and P-II). To describe the chemical makeup of pitches, elemental analysis and FTIR spectroscopy were used. It was observed that the (H/C) atomic ratio and hydrocarbon content of the pitches are similar. The P-I pitch could be distinguished from the P-II pitch by its higher oxygen content. The distinguishing trait in all commercial petroleum pitches was more carbon, hydrogen, and sulphur and less nitrogen. Condensed polycyclic aromatic hydrocarbons (PAHs) make the complex mixture known as petroleum pitches. Pitches are generally prepared by thermal or catalytic thermal treatment of petroleum residues. Reaction temperature, residence duration, and pressure are crucial factors that significantly impact pitch quality. A lot of high-end carbon products are produced using pitch as a precursor. Industrial-grade carbon and graphite electrodes, carbon fibres, and carbon foam are typically made using high softening point pitches (HSPP). However, low softening point pitches (LSPP) are only helpful in a few situations because of their low carbon yield, low viscosity, and other characteristics. Due to the inherent characteristics of the crude oils currently on the market, the petroleum refining sector needs help to process heavy and dirty crude oils.

Global Petroleum Pitch Market Overview

The Petroleum Pitch is used in aerospace, automotive, and construction applications. It produces refractory bricks and clay pigeons as an impregnation pitch for graphite electrodes. It also blends into coal tar pitch and other speciality applications. The growth of this market is mainly attributed to the constantly rising demand for aluminium and steel and the growing automobile and aerospace industry. In addition, the rapid increase in carbon fibre production and the fast-paced infrastructural development observed in developing regions are expected to offer a lucrative opportunity for the market. In the world of automobiles, every car owner desires their vehicle to be faster while keeping it fuel-efficient. However, a more robust car needs a bigger engine, and higher fuel consumption is unavoidable. As a result, a plethora of research has endeavoured to improve fuel efficiency by reducing overall vehicle weight. The constant research led to the development of lightweight materials robust enough to withstand physics at high speeds and cost-effective enough to replace steel in regular automobiles.

One of the novel materials under investigation was carbon fibre. The carbon fiber sheets made from petroleum waste are expected to revolutionize the Automotive Industry. The Pitch-based carbon fiber is strong in tension and compression and is in high demand. The new method is anticipated to turn the cheap by-products of petroleum refining into high-value, ultra-light structural materials made of carbon fiber for use in cars, aircraft, and spacecraft. Thus, revived growth in the automotive industry will likely fuel the revenue generation of the Petroleum Pitch Market in the forthcoming years. Also, increasing demand for pitch-based carbon fibers used in manufacturing aircraft and automobile brake pads is observed, which, in turn, is assumed to propel market growth. Further, Petroleum Pitch has good anti-corrosion, waterproof and insulating properties and is used in coatings, plastics, rubber and construction materials industries. A boost in the number of projects undertaken by the government for infrastructural development is also likely to promote sizeable demand for Petroleum Pitch, fueling the market growth.

Global Petroleum Pitch MarketSegmentation Analysis

The Global Petroleum Pitch Market is segmented on the basis of Form, Application, and Geography.

Petroleum Pitch Market, By Form

• Solid
• Liquid

Based on Form, the market is segmented into Solid and Liquid. The liquid form segment is the most significant and fastest-growing during the forecast period in the global petroleum pitch market, owing to its features and benefits. Liquid petroleum pitch’s physical and chemical characteristics make it the perfect material for the Petroleum Asphalt Blending Component. It has a neutral pH, a melting/freezing point that ranges from 80 to 130 °C (176 to 266 °F), a specific gravity/relative density that is between 0.98 and 1.1 water=1, and a flash point that is greater than 500 °F (260 °C). At high temperatures, the liquid pitch will support combustion and produce vapors that could catch fire if there is air and an ignition source. When subjected to intense heat, closed containers may start blowing up.

Petroleum Pitch Market, By Application

• Road Surface Sealings
• Li Battery Anode
• Insulation
• Refractory Bricks
• Aluminum Anode
• Others

To Get a Summarized Market Report By Application-

Based on Application, Road Surface Sealings accounted for the largest market share in 2022 and is projected to grow at a CAGR of 4.83% during the forecast period. The road surface sealings segment is dominant in the global petroleum pitch market owing to the advantages and features that petroleum pitch offers. The street surface sealings can be done with petroleum pitch, an excellent binding substance. Due to its distinguishing characteristics, interest in superior petroleum pitch is slightly higher than in other pitch varieties. The invention offers a straightforward type of pavement joint sealing material with good forming properties to address the shortcomings in the prior art. The design also provides a preparation technique for pavement joint sealing substances. The current invention’s pavement joint sealing substance is made from a few basic raw materials that are simple to create and distribute. These materials include pitch, extraction oil, and SBS.

Petroleum Pitch Market, By Geography

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America

To Get a Summarized Market Report By Geography-

On the basis of regional analysis, the Global Petroleum Pitch Market is classified into North America, Europe, Asia Pacific and Rest of the world. Asia Pacific accounted for the largest market share in 2022 and is projected to grow at the highest CAGR of 4.58% during the forecast period. The Asia Pacific region is the largest global market due to the rising demand for aluminium for the growing aerospace, automobile, and space industries and rapid growth and industrialization in India and China. North America accounted for the second-largest market in the Petroleum Pitch Market, owing to the escalating demand for petroleum pitches in road construction and repair activities. Also, the Europe region is expected to grow rapidly due to the increasing demand for petroleum pitch in various end-use applications such as aerospace, steel, construction, and others.

Key Players

The “Global Petroleum Pitch Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Mitsubishi Chemical Holdings Inc., Nippon Steel Corporation, Solvay, Koppers Inc., Rain Industries Limited, ORG CHEM Group, Zen International, and Lone Star Specialties, LLC.

Report Scope

Research Methodology of Market Research

To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our .

Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

Customization of the Report

• In case of any  please connect with our sales team, who will ensure that your requirements are met.