carbonization is carried out that is why it is recognized as a by-product of coke production. In
general, it appears as a highly sticky liquid in black or brown color.
It is basically a variable and composite blend of phenols, heterocyclic compounds as well as
polycyclic aromatic hydrocarbon. One of the prominent factors that is contributing significantly in
raising the coal tar market share include augmented demand for tar in the industrial, medical
sectors and sealing of roads. The only thing that is becoming a major hurdle in the overall growth of
the coal tar market is that tar cannot be employed in the extracted and mined state, as it is usually
in solid form. In order to make it more apposite for further utilization, it is normally heated and
given enough warmth at high temperature.
Other key restraint for the coal tar market growth is the cost of heating furnace that ultimately lays
additional load on the consumer side. Nevertheless, rise in the applications of various industries
including manufacturing of diesel and gasoline oil through high pressure hydrogenation and power
generation for heating boilers is estimated to keep the level of demand balanced for tar till the next
couple of years. It is known that coal tar deep-processed products play a very major part as raw
materials for pharmaceuticals, agricultural chemicals, dyes, and synthetic fibers.
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They possess strong profitability that propels many leading manufacturers to put in more money in
coal tar deep-processing projects. Coal tar Market size on the basis of end-user application spans
pavement sealcoats, industries and medical sector. Market size on the basis of geographical region
spans China, Japan, Southeast Asia, and India.
As far as the geography is concerned, North America is currently leading the coal tar market and it is
considered as a key market for the tar industry, the reason being increase in the domestic
production that has eventually augmented the level of demand from the aluminum, graphite and
other coal tar pitch end-use sectors. Canada is the one which is mainly contributing in raising the
share of the tar market in North America.