Acetylene Gas Market Size, Share, Growth, and Industry Analysis by Type (Calcium Carbide Production and Hydrocarbon Pyrolysis Production), By Application (Cutting and Welding, Chemical & Others) Regional Forecast From 2023 To 2030

Updated On: 20 November 2023

ACETYLENE GAS MARKET REPORT OVERVIEW

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The global acetylene gas market size is USD 5.960 billion in 2022 and the market is expected to reach USD 7.199 billion in 2028, with a growing CAGR of 3.2% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with acetylene gas industry experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.

Calcium carbide and water are combined to form acetylene gas, which is then followed by the production of calcium carbonate. It is a highly flammable gas that may also be created from hydrocarbons like coal, crude oil, and naphtha. Acetylene has no color and is extremely combustible. As of right now, welding applications are the main use for acetylene gas. Welding is one of the main operations in almost any manufacturing or automation industry's plants.

Acetylene has a high melting point, which makes it ideal for use in welding and cutting processes. Large tanks are used to hold acetylene, and each tank can be used for welding. Dry cell batteries can also employ acetylene. Additionally, acetylene can be used to create a variety of compounds that are then applicable to a variety of businesses. Polyurethane polymers are one important product for which acetylene is extensively employed. This is simply one of the common goods that use acetylene.

COVID-19 Impact: Disturbances in Sales Causes Market Distortion

For manufacturers of chemicals and materials, the COVID-19 outbreak resulted in unstable markets, a decline in consumer confidence, and issues with import and export business. Due to the lockdown, markets were closed and many stayed at home. This development has led to supply chain breaches, stock market inefficiencies, and vendor instability. The advanced materials and chemical industries' shutdown had an impact on the entire market. Acetylene was rendered obsolete by the closure of markets because there was no longer a demand for the product. The pandemic impacted the industry dynamics, forcing organizations to revamp their entire operation structures to maintain stability amid the disruptions the financial imbalance that occurs due to shutdown of various stores & large sectors was the main reason that distorted the whole market. Aside from that, the companies' business operations have been affected by the outbreak, which has an effect on the overall chemical industry. This has partially impacted the acetylene gas market.

LATEST TRENDS

"Acetylene in Various Applications to Boost the Market Growth"

The need for calcium carbide has increased as acetylene's commercial use has increased. Acetylene is used in the creation of chemicals, the production of polymers, the welding and cutting of metals, as well as other things. Acetylene derivatives such as methane and ethylene are used to create PVC and PVDF. Products made of plastic are incredibly affordable and simple to produce, and they have uses across a variety of industries. This expanding demand for plastics is helping the market's expansion even further. Acetylene is also utilized to create a number of other compounds. The market expansion will also be supported by the chemical industry's slow but steady rise. Thus, the usage of acetylene in various application is a main trend which is creating opportunities for the market to boost. The market's total expansion is primarily due to all these new developments.

ACETYLENE GAS MARKET SEGMENTATION

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• By Types 

Based on type, the market is classified into Calcium Carbide Production and Hydrocarbon Pyrolysis Production.

• By Application

Based on application, the market is categorized into Cutting and Welding, Chemical & Others.

DRIVING FACTORS

"Growing Chemical Industry that Gives the Market Extra Boost "

Acetylene is utilized in the chemical industry for a variety of purposes, including chemical synthesis for the creation of different compounds such acetic acid, acetaldehyde, and acetic anhydride. These goods are frequently utilized in the production of plastics, pharmaceuticals, and other goods. Different plastic goods are utilized to create numerous household and other products. Additionally, acetylene is used in processes that aid in the synthesis of vitamins A and E. Additionally, the manufacture of many acetylenes, alcohols, acetic acid, solvents, 1, 4-butanediol (BDO), and other products uses acetylene gas. Numerous end-use industries use these goods extensively. As a result, the growth, and the growing chemical industry will boost the market. It will contribute to the expansion of the chemical industry and it will improve the overall acetylene gas market growth.

"Rapid Industrialization to Encourage Market Expansion"

The demand for the Acetylene Gas market will ultimately be driven by rapid industrial improvements brought on by technological advancements to suit the expanding needs of people from various end-use industries during the forecast period. In April 2022, the Index of Industrial Production (IIP) for manufacturing climbed by 6.7%, electricity increased by 12.9%, and water and waste management increased by 15.4%, according to the National Institute of Statistics of Rwanda. Therefore, the rising industrial output is an indication of the expansion of industries worldwide, which will increase demand for acetylene gas throughout the course of the predicted period. As a result, during the projected period, the market for chemical is anticipated to rise rapidly. The advancement of the product is helping the market to grow.

RESTRAINING FACTORS

"Harmful Effects of gas to Impede Market Expansion"

The market for acetylene has long faced significant environmental challenges. Both the environment and living beings are affected by the dangerous particulate matter emissions that occur during the production of gas. Visibility and air quality are both impacted by airborne particles. By reducing visibility, the particle matter detracts from an area's aesthetics and utility and may have an adverse effect on structures and vegetation. Acetylene gas causes skin and respiratory tract irritation, asthma, and dermatitis when exposed in excess. Therefore, a significant factor limiting the growth of this market are the harmful effect of the gas. If this problem is fixed, the market will start to grow right away.

ACETYLENE GAS MARKET REGIONAL INSIGHTS

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"North America Dominating the Market Across the Globe"

The market for acetylene gas in North America has benefited from the region's expanding industrial development, and various driving factors which has increased the potential sectors as this region is the largest user of the product. The key factor driving the growth of the acetylene gas market share is their growing demand of various chemicals, welding and cutting is one of the major reasons to drive the market. Rapid urbanization developments will further boost the overall market.

KEY INDUSTRY PLAYERS

"Leading Firms to Increase Product Demand"

The study includes information on the market players and where they stand within the sector. Through appropriate research, mergers, technological development, expanding production facilities, and collaboration, data is being acquired and made available. The study on devices offers details on manufacturers, regions, types, applications, sales channels, distributors, traders, dealers, research findings, and more.

List of Market Players Profiled

•  Linde (Ireland)
•  BASF (Germany)
•  Praxair (U.S.)
•  DuPont (U.S.)
• Airgas (U.S.)

REPORT COVERAGE

The segmentation of the market by type and application is covered in detail in the study. A wide spectrum of players, including current and potential market leaders, are examined in the study. A number of significant reasons are expected to fuel a sizable market expansion. The research also includes factors that are probably to increase acetylene gas market share in order to provide market insights. The report also contains predictions for market growth during the anticipated time frame. Clarifying why one region dominates the global market is the aim of the regional study. The market is unable to expand due to a number of problems, all of which have been carefully taken into account. The research also contains a market strategic analysis. It includes thorough market information.