Global Pitch Coke Market 2019–2023 | Advances in Mining Industry to Boost Growth | Technavio
The global pitch coke market is expected to post a CAGR of nearly 5% during the period 2019–2023, according to the latest market research report by Technavio. Request a free sample report
Pitch coke finds numerous applications in various end-user industries. For instance, in the semiconductor industry, pitch coke is used as a raw material to produce silicon wafers, which are used to manufacture semiconductors. Pitch coke is also used as a raw material in the production of carbon brushes. With the rising adoption of electronic devices and electric motors, the demand for semiconductors and carbon brushed will increase during the forecast period. This will have a positive influence on the growth of the global pitch coke market.
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As per Technavio, the advances in the mining industry will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019–2023.
Global Pitch Coke Market: Advances in Mining Industry
The growing use of automation and robotic machinery in the mining industry is leading to a significant increase in the production capacity and efficiency of mining companies. This is stimulating the global production of coal, which is the raw material for pitch coke. The abundant supply of coal is helping in meeting the growing demand for pitch coke from various end-user industries such as aluminum and steel. The advances in the mining industry are expected to foster the growth of the global pitch coke market over the forecast period.
“Apart from the advances in the mining industry, the emergence of low-carbon aluminum and increasing use of carbon fiber in the transportation industry are some other major factors that will boost market growth during the forecast period”, says a senior analyst at Technavio.
Global Pitch Coke Market: Segmentation Analysis
This market report segments the global pitch coke market by application (aluminum smelters, graphite electrodes, and others) and geography (Americas, APAC, Europe, and MEA).
The APAC region led the market in 2018, followed by Europe, MEA, and the Americas respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market. This is due to an increase in the production of steel and aluminum in the region.
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