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Petroleum pitch is a material that results from the thermal treatment or distillation of petroleum-based crude oils. The product is often used in manufacturing carbon-based products, such as anode and cathode materials for batteries, as well as in producing graphite, carbon fibers, and various industrial sealants and coatings due to its excellent bonding properties. Petroleum pitch is typically black, highly viscous or solid at room temperature, and becomes more fluid when heated.
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The report covers the following key insights:
By application, the market is divided into brake pads, road surface sealing, li battery anode, insulation, refractory bricks, and others. The li battery anode segment holds a significant share of the global petroleum pitch market. The demand for petroleum pitch in producing lithium battery anodes is gaining traction. This is primarily due to petroleum pitch's excellent properties as a precursor for making high-capacity, durable, and cost-effective carbon materials, which are essential for the anode part of lithium-ion batteries. With the continuing growth in electric vehicles (EVs) and renewable energy storage solutions, the need for lithium batteries and materials, such as petroleum pitch for anodes is expected to rise significantly. This aligns with the broader industry trends aiming for more sustainable and efficient energy storage technologies.
Petroleum pitch is a complex hydrocarbon used in various industrial applications, including the production of brake pads. It serves as a binding agent that helps in the formation and composition of the brake pad material, contributing to its durability, heat management, and performance characteristics. In brake pads, petroleum pitch aids in binding the various components together, improving the brake pad's overall structural integrity and functionality. This ensures that the brake pads can withstand the high temperatures and pressures they are subjected to during braking, providing reliable and efficient performance.
Demand for petroleum pitch is increasing due to its excellent properties as a binding agent in producing refractory bricks. These bricks are crucial for high-temperature uses such as lining furnaces, kilns, incinerators, and reactors. When compared to conventional binders, petroleum pitch provides enhanced thermal stability, mechanical strength, and resistance to corrosive materials. Also, the product is utilized to seal road surfaces. It has exceptional adhesive properties and ability to waterproof, making it an excellent sealing material for creating long-lasting and even road surfaces. The application of petroleum pitch in road construction significantly enhances the lifespan and upkeep of roads, offering a cost-efficient approach to infrastructure development.
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The global market is geographically segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Asia Pacific holds a significant share of the petroleum pitch market. The automotive sector in the Asia Pacific region is expanding rapidly, driven by rising income, urbanization, and increased trade activity. Petroleum pitch has indirect use in the various application of automotive industry such as in battery, and brake pads.
The Indian government is supporting foreign investment in the automobile industry by allowing 100% FDI under the automatic route.
Moreover, growing automotive industry ultimately drives the demand for petroleum pitch in the study period. The U.S. automotive industry every years spends near to USD 16 billion to USD 18 for the research and product developments. Similarly, automotive industry in Spain invests near to Euro 4 billion in a year in the modernizing and expanding plants.
The major Petroleum Pitch market consumers by region are China, Japan, and India in Asia Pacific; the U.S. & Canada in North America; Germany and France in Europe; and Saudi Arabia and UAE in the Middle East.
The report includes the profiles of key players, such as Mitsubishi Chemical Group Corporation, Koppers Inc., Rain Carbon Inc., ORG CHEM Group, Puyang Changyu Petroleum Resins Co., Ltd., Lone Star coal, Chiyoda Corporation, MotorCarbon LLC, and Solvay AG.
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