Global Petroleum Pitch
Market Report
2025
Petroleum Pitch Market size will be USD 751.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 5.50% from 2024 to 2031.
The base year for the calculation is 2024 and 2021 to 2024 will be historical period. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
PDF Access: Password protected PDF file, Excel File Access: Quantitative data, PPT Report Access: For the presentation purpose, Cloud Access: Secure Company Account Access.
Share your contact details to receive free updated sample copy/pages of the recently published edition of Petroleum Pitch Market Report 2024.
According to Cognitive Market Research, the global Petroleum Pitch market size is USD 751.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 5.50% from 2024 to 2031.
2019 | 2024 | 2025 | 2032 | 2033 | CAGR | |
---|---|---|---|---|---|---|
Global Petroleum Pitch Market Sales Revenue | 121212 | $ 751.2 Million | 121212 | 121212 | 121212 | 5.5% |
North America Petroleum Pitch Market Sales Revenue | 121212 | $ 300.48 Million | 121212 | 121212 | 121212 | 3.7% |
Europe Petroleum Pitch Market Sales Revenue | 121212 | $ 225.36 Million | 121212 | 121212 | 121212 | 4% |
Asia Pacific Petroleum Pitch Market Sales Revenue | 121212 | $ 172.78 Million | 121212 | 121212 | 121212 | 7.5% |
South America Petroleum Pitch Market Sales Revenue | 121212 | $ 37.56 Million | 121212 | 121212 | 121212 | 4.9% |
Middle East and Africa Petroleum Pitch Market Sales Revenue | 121212 | $ 15.02 Million | 121212 | 121212 | 121212 | 5.2% |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Form |
|
Market Split by Application |
|
List of Competitors |
|
Regional Analysis |
|
Country Analysis |
|
Report scope is customizable as we have a huge database of Petroleum Pitch industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Petroleum Pitch Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The petroleum pitch market is a vital segment of the global petrochemical industry, encompassing the production and distribution of petroleum-derived pitch, a versatile material with diverse industrial applications. Petroleum pitch, a by-product of the refining process of crude oil or coal tar, is valued for its unique properties, including high carbon content, thermal stability, and excellent binding characteristics. One of the primary applications of petroleum pitch is in the production of carbon fibers, where it serves as a precursor material in the carbonization process. Carbon fibers are utilized in various industries, including aerospace, automotive, wind energy, and sporting goods, due to their exceptional strength-to-weight ratio and corrosion resistance.
Additionally, petroleum pitch is extensively used in road construction as a binder in asphalt formulations, contributing to the durability and longevity of road surfaces. It is also utilized in the manufacturing of refractory bricks for high-temperature industrial processes, insulation materials, and carbon anodes for aluminum smelting.
The petroleum pitch market is influenced by factors such as industrial demand, crude oil prices, technological advancements, and regulatory policies. With increasing emphasis on lightweight materials, sustainable solutions, and infrastructure development, the market is poised for growth and offers opportunities for manufacturers, suppliers, and end-users across various sectors.
Increased investments in infrastructure projects globally are poised to drive a substantial surge in the demand for petroleum pitch. Governments and private entities worldwide are intensifying efforts to upgrade and expand transportation systems, construct new buildings, and enhance public utilities. Petroleum pitch, valued for its exceptional binding capabilities and resilience, serves as a fundamental component in numerous infrastructure applications such as road surface sealings, bridge construction, and waterproofing materials. As construction activities escalate to accommodate burgeoning urban populations and economic development, the necessity for petroleum pitch-based solutions is anticipated to escalate correspondingly. With a growing emphasis on resilient and eco-friendly construction materials, Petroleum Pitch offers a compelling solution to meet stringent regulatory standards and environmental objectives. Both emerging economies and developed nations are channeling significant investments into ambitious infrastructure ventures, driving robust demand for petroleum pitch globally. This presents lucrative opportunities for manufacturers and suppliers in the petroleum pitch market to capitalize on the expanding infrastructure landscape and meet the evolving needs of construction projects worldwide.
The industrial sector's rising demand for carbon fibers is set to propel significant growth in the petroleum pitch market. Petroleum pitch serves as a crucial precursor in carbon fiber production, playing a vital role in the carbonization process. Industries such as aerospace, automotive, wind energy, and sporting goods are increasingly adopting carbon fiber composites for their lightweight and high-strength properties. This adoption is driven by factors such as the need for fuel efficiency, emissions reduction, and improved performance. In aerospace, carbon fibers are extensively used in aircraft components to reduce weight while maintaining structural integrity.
Similarly, the automotive industry is turning to carbon fiber composites to achieve weight reduction and enhance performance, especially in electric and hybrid vehicles. Additionally, the renewable energy sector's growth, particularly in wind energy, is boosting demand for carbon fibers for manufacturing turbine blades. Overall, the industrial sector's increasing reliance on carbon fibers is expected to drive demand for petroleum pitch, leading to robust growth in the petroleum pitch market.
Volatility in crude oil prices poses a significant restraint on the growth of the petroleum pitch market. Petroleum pitch, derived from crude oil or coal tar, is subject to price fluctuations in the crude oil market. Sudden shifts in oil prices can disrupt the cost structure of petroleum pitch production, impacting profit margins and overall market stability. High crude oil prices can lead to increased production costs for petroleum pitch manufacturers as raw material expenses rise. Conversely, low oil prices may create challenges for petroleum pitch producers by squeezing profit margins and limiting investment in research, development, and expansion initiatives. Moreover, volatility in crude oil prices can also affect investment decisions within the petroleum pitch industry. Uncertainty regarding future oil price trends may deter companies from committing to long-term projects or capital expenditures, hindering market growth and innovation.
To mitigate the impact of crude oil price volatility, petroleum pitch manufacturers may explore strategies such as implementing cost-saving measures, optimizing production processes, and diversifying their product portfolios to reduce reliance on crude oil-derived inputs. Additionally, fostering partnerships and collaborations across the supply chain can help buffer against market fluctuations and enhance resilience in the face of volatile oil prices.
The COVID-19 pandemic has had a mixed impact on the petroleum pitch market. Initially, lockdowns and disruptions in industrial activities led to a decline in demand for petroleum pitch-based products across sectors like construction, automotive, and aerospace. Supply chain disruptions and reduced consumer spending further exacerbated the market downturn. However, as economies gradually reopened and recovery efforts ensued, demand for petroleum pitch rebounded, particularly in applications like road construction, infrastructure development, and renewable energy.
Additionally, the pandemic highlighted the importance of lightweight materials in industries like automotive and aerospace, potentially driving long-term growth in the petroleum pitch market as these sectors prioritize efficiency and sustainability in their operations.
We have various report editions of Petroleum Pitch Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.
Key players deploy strategic initiatives such as product innovations, partnerships, and mergers. Companies prioritize R&D to introduce cutting-edge pitches, ensuring a competitive edge. Robust distribution networks and adherence to quality standards amplify market presence, fostering an environment where agility and innovation define industry leaders.
In February 2024, Koppers Holdings Inc., a globally integrated supplier of treated wood products, revealed that its subsidiary, Koppers' Utility and Industrial Products Inc. (UIP), has agreed to purchase the majority of assets belonging to Brown Wood Preserving Company, Inc. and select affiliates (Brown Wood) for roughly $100 million in cash. Brown Wood specializes in the production and distribution of pressure-treated wood utility poles.
In January 2024, Solvay announced capacity expansions at its Resolest and Solval units, specifically designed for recycling residues from the flue gas cleaning process using the market-leading SOLVAir solution. The increasing demand for this advanced technology stalks from the enforcement of stringent environmental standards governing emissions across various industries. By the end of 2025, Resolest is poised to undergo a significant 60% surge in recycling capacity. Likewise, commencing January 2024, Solval is set to witness a substantial 30% increase in its capacity.
(Source: https://www.solvay.com/en/press-release/expanding-solvair-recycling-operations-europe)
Top Companies Market Share in Petroleum Pitch Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. Increasing infrastructure investments, automotive advancements, and aerospace projects contribute to market expansion. Technological innovations and sustainability initiatives further bolster growth prospects in the region. Further, the market maintains its resilience, presenting opportunities for manufacturers and suppliers to capitalize on evolving industry needs, solidifying North America's pivotal role in the Petroleum Pitch market.
The Asia Pacific region is witnessing an increase in the sales of reagents. This surge is mainly driven by the region's rapid industrialization and infrastructure development. Technological advancements and investments in research and development contribute to market innovation and competitiveness. Further, with growing emphasis on sustainability, the market is poised for further growth as industries seek eco-friendly solutions. Despite a few challenges, the petroleum pitch market offers lucrative opportunities for manufacturers and suppliers to capitalize on the dynamic economic landscape in the region.
The current report Scope analyzes Petroleum Pitch Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
To learn more about geographical trends request the free sample pages.
Get Free Sample
According to Cognitive Market Research, the global Petroleum Pitch market size was estimated at USD 751.2 Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD 300.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031. In North America, petroleum pitch sales dominate, fuelled by rising demand for construction, carbon fiber production, and industrial applications. The region's growing infrastructure investments, automotive advancements, and aerospace projects propel consistent demand. Technological innovations and sustainability initiatives contribute to market dominance. The solid form in North America is intricately tied to the expanding Petroleum Pitch market. The solid form segment benefits from applications in road construction, carbon fiber production, and refractory materials. The demand remains robust due to infrastructure development, automotive manufacturing, and aerospace advancements, fostering substantial market growth.
According to Cognitive Market Research, with a market value of USD 751.2 million in 2024, it is projected to expand at a compound annual growth rate (CAGR) of 4.0% from 2024 to 2031. Europe accounted for a share of over 30% of the global market size of USD 225.36 million. The European petroleum pitch market is experiencing moderate growth, propelled by increasing demand in construction, carbon fiber production, and infrastructure projects. The surge in the liquid form segment across Europe is intimately linked to the burgeoning Petroleum Pitch market. Increased demand for advanced coatings and sealants across industries contributes to segment expansion. The automotive sector's transition to electric vehicles further boosts demand for liquid petroleum pitch in lithium-ion battery anode production. A focus on eco-friendly materials, technological innovations, and sustainability initiatives support market growth and drive market expansion.
According to Cognitive Market Research, the global Petroleum Pitch market size was estimated at USD 751.2 Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 172.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.5% from 2024 to 2031. The Asia Pacific region is experiencing growth in the sales of petroleum. This growth can be attributed to the region's industrialization, infrastructure development, and increasing demand in the construction, automotive, and aerospace sectors. The rising demand for Petroleum Pitch in the Asia Pacific finds a pivotal ally in the growing preference for road surface sealings. Increased investment in road construction projects and maintenance initiatives contributes to segment expansion. Further, government initiatives aimed at improving transportation infrastructure and safety fuel demand for petroleum pitch in road sealant applications, fostering substantial market growth.
According to Cognitive Market Research, the global Petroleum Pitch market size was estimated at USD 751.2 Million, out of which the Latin America market has more than 5% of the global revenue with a market size of USD 37.56 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031. Petroleum Pitch sales in Latin America are experiencing growth due to the region's emphasis on technological advancements and investments in research and development. Increasing demand in construction, infrastructure development, and industrial applications are driving the demand for petroleum. The upswing in insulation across Latin America is closely tied to the expanding Petroleum Pitch market. Advancements in insulation materials and formulations are fuelling sales. As industries prioritize energy conservation and sustainability, the segment is expected to continue its upward trajectory in the region, offering lucrative prospects for market participants.
According to Cognitive Market Research, the global Petroleum Pitch market size was estimated at USD 751.2 Million, out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 15.02 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031. MEA experiences an upswing in Petroleum Pitch sales driven by burgeoning construction, infrastructure projects, and industrial applications across the region. The rise of Li Battery Anode application in the MEA region aligns with the flourishing Petroleum Pitch market. The surge in demand is due to the increasing adoption of lithium-ion batteries in various applications across the region. Rising demand for electric vehicles and renewable energy storage solutions, technological advancements in battery technology, and investments in research and development contribute to segment expansion in the region.
Global Petroleum Pitch Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Petroleum Pitch Industry growth. Petroleum Pitch market has been segmented with the help of its Form , Application , and others. Petroleum Pitch market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, the solid form held the major market share over the forecast period. The demand for solid petroleum pitch is robust, particularly in road surface sealings and the manufacturing of refractory bricks due to their excellent binding properties and resistance to high temperatures. Further, advancements in infrastructure development and the construction sector are bolstering the demand for solid petroleum pitch, contributing to its sustained growth trajectory in the market.
The liquid form is the fastest-growing category over the forecast period. With the increasing demand for advanced coatings and sealants across various sectors, the liquid petroleum pitch is finding expanding utilization, driving its market growth. Also, the surge in electric vehicle production and renewable energy storage solutions is propelling demand for liquid petroleum pitch in the manufacturing of carbon anodes for lithium-ion batteries. The growth continues as industries seek innovative solutions and sustainable materials, positioning liquid petroleum pitch as the fastest-growing segment in the market.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Petroleum Pitch Industry. Request a Free Sample PDF!
According to Cognitive Market Research, road surface sealings hold a prominent market share. This is attributed to infrastructure development and maintenance projects globally. Additionally, increased investment in transportation infrastructure and road rehabilitation initiatives further contributes to the segment's growth. As governments focus on enhancing road safety and longevity, the demand for petroleum pitch in road surface sealings is expected to continue growing in the coming years.
Insulation is the fastest-growing category over the forecast period. This growth is due to the demand for energy-efficient building materials and industrial applications. Both solid and liquid petroleum pitches play vital roles in insulation formulations, offering thermal stability and fire resistance. As industries and consumers prioritize energy conservation advancements in construction technology and environmental sustainability, the insulation segment is poised for continued expansion in the petroleum pitch market.
The above Graph is for representation purposes only. This chart does not depict actual Market share.
To learn more about market share request the free sample pages.
Get Free Sample
Senior Research Analyst at Cognitive Market Research
• Worked on several market, industry & business research projects, on various models such as Syndicated, Custom, Subscriptions and Consults
• Proficient in secondary research and familiar with all paid research databases
• Proficient in primary research and handling client queries through mails and calls
• Expertise in statistical techniques used in data forecasting, possess strong grip on all aspects of market engineering & data analysis
• Expertise in checking feasibility of projects based on Request for Proposal (RFPs) of clients
• Acquainted with entire process of report writing- Title Analysis, TOC Building, Search Engine Optimization, TOC Freezing, Writing Reports, Market Engineering, Scheduling Primaries, Directory of Key Industry Participants (DKIP), Drafting “Press Articles/Summary/Report Description/Analyst Briefing” used for making marketing collaterals
• Gained team-work skills in coordinating with the sales teams for business development and meeting needs of a variety of clients hand-in-hand with promoting sales.
Manoj Phagare is a dynamic and results-driven research analyst with a passion for transforming raw data into actionable insights. Armed with a solid foundation in market research and data analysis and working in various domains including chemical & materials and paints & coatings. He thrive on the challenge of uncovering patterns, trends, and opportunities that drive strategic decision-making.His analytical mindset, coupled with effective communication skills, allows him to bridge the gap between data analysis and practical business applications.
In his current role, Manoj is a key player in market research and competitive analysis. He have a proven track record of synthesizing disparate data sources, employing statistical models, and delivering comprehensive insights. He have played a pivotal role in shaping evidence-based strategies that fueled the success of key business initiatives and Collaborating with cross-functional teams.Manoj remains an invaluable asset in the dynamic landscape of market research.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Form | Solid, Liquid |
Application | Road Surface Sealings, Li Battery Anode, Insulation, Refractory Bricks, Aluminum Anode |
List of Competitors | Mitsubishi Chemical Corporation , Koppers Inc., Rain Carbon Inc., ORG CHEM Group , Puyang Changyu Petroleum Resins Co. Ltd. , Lone Star Specialities LLC. , Chiyoda Corporation , Motorcarbon LLC , Solvay AG |
This chapter will help you gain GLOBAL Market Analysis of Petroleum Pitch. Further deep in this chapter, you will be able to review Global Petroleum Pitch Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of Petroleum Pitch. Further deep in this chapter, you will be able to review North America Petroleum Pitch Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of Petroleum Pitch. Further deep in this chapter, you will be able to review Europe Petroleum Pitch Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of Petroleum Pitch. Further deep in this chapter, you will be able to review Asia Pacific Petroleum Pitch Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of Petroleum Pitch. Further deep in this chapter, you will be able to review South America Petroleum Pitch Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East and Africa Market Analysis of Petroleum Pitch. Further deep in this chapter, you will be able to review Middle East and Africa Petroleum Pitch Market Split by various segments and Country Split.
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
This chapter provides an in-depth analysis of the market share among key competitors of Petroleum Pitch. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Form Analysis 2019 -2031, will provide market size split by Form . This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Form Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Application Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Petroleum Pitch market
Chapter 12 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Solid have a significant impact on Petroleum Pitch market? |
What are the key factors affecting the Solid and Liquid of Petroleum Pitch Market? |
What is the CAGR/Growth Rate of Road Surface Sealings during the forecast period? |
By type, which segment accounted for largest share of the global Petroleum Pitch Market? |
Which region is expected to dominate the global Petroleum Pitch Market within the forecast period? |
Segmentation Level Customization |
|
Global level Data Customization |
|
Region level Data Customization |
|
Country level Data Customization |
|
Company Level |
|
Additional Data Analysis |
|
Additional Qualitative Data |
|
Additional Quantitative Data |
|
Service Level Customization |
|
Report Format Alteration |
|