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Anthracene Oil Market Segmented By Chemical Compound such as Phenathrene, Fluoranthene and Pyrene with Application such as Chemical industry, Pharmaceutical, Oil and gas industry
Anthracene oil, also called green oil, consists of three benzene rings derived from coal tar. Anthracene oil is used in the production of carbon black. It is also a source of phenanthrene, anthracene and carbazole. This oil is considered the best antiseptic agent for wood and is so used for formulating sleeper-impregnating oils. In industrial applications, anthracene oil is obtained from coal tar after the heat treatment.
Some of the distinguishable properties of anthracene include its wicked odor, high boiling aroma and others. The major constituent compounds of anthracene oil are anthracene, phenathrene, fluoranthene and pyrene. This oil has comparatively low economic value and is similar to one of those coal tar oils that is not affected by high temperature.
Anthracene oil is mainly used for producing needle coke, which further finds usage as an electric steel furnace. Anthracene oil is used for producing high density coal based jet fuel feedstock. Carbon lack generated using anthracene oil is further processed as feedstock oil, asphalt blend oil and fuel oil or isolated as anthracene and carbazole crude product.
Moreover, coal tar and coal tar pitches offers many solutions for consumer industry products and anthracene oil is one of the distillation products of crude coal tar. Anthracene oil is also used in drinking water, exhaust emissions, ambient air, smoke of cigars and cigarettes,and in smoked foods and edible aquatic organisms.
Anthracene oil is also used in in the production of the red dye alizarin and other dyes. Due to its various uses, the global anthracene oil market is expected to grow with healthy CAGR during the forecast period.
The major driving factor behind the global anthracene oil market is the rapid growth of the dye market. With increasing demand for anthracene oil for the preparation of cosmoline and extraction of other chemicals will upsurge growth in the global anthracene oil market. All these factors will lead to rapid growth of the global anthracene oil market.
Growing production of coal tar is one of the other factors aiding the growth of the global anthracene oil market. Anthracene oil consumption varies according to the temperature treatment of the aromatic hydrocarbons. Increasing industrialization and consumption of specialty chemicals in almost all industries has become a prominent factor that will escalate the demand in the global anthracene oil market.
The chemical industry is highly fragmented and there are number of competitors in the market and this will prove to be a restraining factor in the global anthracene oil market.
North America will dominate the global anthracene oil market, mainly due to the tremendous growth in the crude oil market in North American countries, such as the US and Canada. In Asia pacific, developing countries, such as china and India, are projected to witness considerable growth in the global anthracene oil market, mainly due to the growing industrialization.
Furthermore, high demand for coal oil in European countries will add to market growth. Middle East countries are the hub of oil and gas market and thus, this region is expected to growth with high CAGR in the global anthracene oil market. Growth in the number of oil production plants will lead to new well discoveries in developing regions with sustained growth in domestic oil and crude fields. This is another factor that will become responsible for the growth of MEA in the global anthracene oil market in the coming years.
Some of the prominent market players in the global anthracene oil market are: