Growth of Coal Tar Market to be Impacted by the Demand for Coal Tar Products from the Healthcare Sector | Technavio

The market will accelerate at a CAGR of around 2% between 2020-2024

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Technavio has announced its latest market research report titled Global Coal Tar Market 2020-2024 (Graphic: Business Wire)

The report, global coal tar market has been added to Technavio's catalog. It provides a comprehensive analysis of the market, including its global and regional market share as well as market segmentation based on geographic regions and application for the forecast period 2020-2024.

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The report on the coal tar market includes:

Coal Tar Market Analysis and Forecast 2020-2024: Features

• Competitive landscape
• Market segmentation
  • Regional Segmentation
  • Application Segmentation
• Market drivers
• Market trends
• Market challenges
• Five forces analysis
• Market landscape
• Market sizing & forecast

Coal Tar Market 2020-2024: Competitive Landscape

• Vendors covered
• Vendor classification
  • ArcelorMittal
  • British Steel Ltd.
  • Nippon Steel Corp.
  • PJSC AVDIIVKA COKE
  • PJSC Magnitogorsk Iron and Steel Works
  • PJSC NLMK
  • POSCO
  • Sumitomo Metal Mining Co. Ltd.
  • Tata Steel Ltd.
  • voestalpine AG

Coal Tar Market Landscape 2020-2024: Geographic Landscape

• APAC - size and forecast 2019-2024
• Europe - size and forecast 2019-2024
• MEA - size and forecast 2019-2024
• North America - size and forecast 2019-2024
• South America - size and forecast 2019-2024
• Key leading countries

Coal Tar Market Landscape 2020-2024: Application Segmentation

• Coal tar processing - size and forecast 2019-2024
• Carbon black - size and forecast 2019-2024
• Others - size and forecast 2019-2024

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Demand for coal tar products from the healthcare sector will drive the coal tar market

Coal tar is extensively used in the healthcare industry for the treatment of skin diseases such as seborrheic dermatitis, dandruff, eczema, and psoriasis. Around 1 out of 50 people around the globe are diagnosed with psoriasis. In addition, approximately 1 out of 10 people with psoriasis are likely to develop psoriatic arthritis. Plaque psoriasis is curable with the application of coal tar as it contains anti-scaling and anti-inflammatory properties. Coal tar is also used as an ingredient in the manufacture of both skin and cosmetic products. It is available in various forms including, bath additives, lotions, ointments, creams, and shampoo. Thus, the growing demand for coal tar products from the healthcare sector will boost the growth of the coal tar market during the forecast period.

Global growth in liquid fuel consumption – An emerging trend in the coal tar market

The rapid economic growth in developing economies such as China and India is propelling the increased consumption of fuel. Rising disposable incomes coupled with the growing purchase volume of transportation vehicles is further boosting the use of liquid fuel. The exploration of alternative energy is being encouraged to ensure energy security. Coal tar is used as a raw material to produce clean fuel, which can address environmental issues. As a result, coal tar is considered as a perfect substitute for petroleum. Two serial fixed beds are used to carry out optimized catalytic hydrogenation process of coal tar. This converts coal tar into gasoline and diesel. Similarly, the use of two commercial catalysts in two-stage fixed beds can turn low-temperature coal tar into jet fuel during the hydrogenation process. Thus, global growth in liquid fuel consumption is expected to showcase a positive outlook during the forecast period.

Other Key Topics Covered in the Report are:

MARKET LANDSCAPE

• Market ecosystem
• Market characteristics
• Market segmentation analysis

MARKET SIZING

• Market definition
• Market sizing 2020
• Market size and forecast 2020-2024

Get Full Report: https://www.technavio.com/report/coal-tar-market-industry-analysis

CUSTOMER LANDSCAPE

DECISION FRAMEWORK

DRIVERS AND CHALLENGES

• Market drivers
• Market challenges

Technavio also offers custom research services providing focused, comprehensive, and tailored research.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20200605005295/en/