Cyclopropylacetylene Market Size, Share, Growth, And Industry Analysis, By Type (Forged Grinding Media, High Chrome Cast Grinding Media, Others), By Application (Chemistry industry, Metallurgy industry, Cement plant, Power plant, Others), Regional Insights, and Forecast To 2031

Updated On: 22 April 2024

Cyclopropylacetylene Market Report Overview

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The global cyclopropylacetylene market size was 36 million in 2022 and is projected to touch USD 52 million by 2031, exhibiting a CAGR of 4.2% during the forecast period.

The COVID-19 pandemic has been unprecedented and staggering, cyclopropylacetylene experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

The market has experienced significant growth, reaching 1.9 million tons in 2020, and is predicted to increase from now until 2030.  The chemical is a common essential energy and chemical-based building block that is an unscented and colorless gas. Since it is volatile in its pure state, it is often handled as a solution. It is produced via one of three processes: the partial burning of methane using air or oxygen, the chemical reaction of water using calcium carbide, or the transfer of a hydrocarbon via an electric arc. The process of making ethylene by splitting hydrocarbons also produces cyclopropylacetylene as a byproduct.

Cyclopropylacetylene has several industrial and commercial applications, although it is mostly used in chemical synthesis. The process of welding, slicing, heat treating, portable lighting, Plastics, in particular and acrylic acid derivate are some of the key end uses of the chemical. Because it has the greatest flame temperature, the industrial gas industry supplies around 20 percent of the chemical for oxyacetylene gas cutting and welding processes. The chemical is frequently utilized as a substrate in the chemical industry for the synthesis of organic chemicals in large quantities. The chemicals industry's constant demand for the mentioned chemical is expected to expand in the market in the years to come.

COVID-19 Impact: Interruption in Supply Chains to Decline Market Share

The market has been disrupted by the COVID-19 pandemic. State-wide lockdowns in multiple nations, strict social isolation policies, and interruptions in the world's supply networks, as well as the closure of the majority of industrial facilities and industries, significantly impacted the industry. The demand for the chemical was significantly decreased in the automotive sector. The need for the chemical decreased. However, it is anticipated that things will get better owing to the recent developmental activities, continuing the market's upward trend throughout the forecast year.

Latest Trends

"Chemical Industry to Intensify Market Magnification "

The worldwide market is divided into end-user industries such as aerospace, automotive, manufacturing of metals, pharmaceuticals, glass, and others. Because of the expanding uses of metalworking around the world, the metal fabrication sector is projected to take over the global market over the forecast period. Rising demand for an in the automotive industry, combined with increased movement of goods for metalworking uses in autos, is expected to push the worldwide market in the future years. Increased construction activity, especially within the Asia Pacific area, will drive up the need for the chemical in coming years.

Cyclopropylacetylene Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into 99% and above, below 99%

99% and above is the leading part of the type segment

• By Application Analysis

According to application, the market can be segmented into pharmaceutical, organic synthesis

Pharmaceutical is the leading part of the application segment

Driving Factors

"Demand for Eco-Friendly Blowing Agents to Boost Market Share "

The cyclopropylacetylene market growth is anticipated to have sufficient growth opportunities in the next years due to the increase in demand for environmentally friendly blowing agents. Eco-friendly blowing agents are in high demand right now and are expected to stay that way for the foreseeable future. The mentioned chemical is used as environmentally acceptable propellants in a variety of industries, such as packaging, cars, furniture, and building insulation. Environmentally friendly propellants are now required by government rules and environmental consciousness. Cyclopropylacetylene market actors will profit from a shift in emphasis toward ecologically advantageous blowing agents as a consequence of severe climate change.

"Utilization as a Transportation Fuel in Cars to Aid Market Forwarding "

In 2021, the oil and gas sector controlled the global market. Automobile fuel, natural gas, diesel, kerosene, and various other heavy oils all include the mentioned chemical. They are utilized as a transportation fuel in cars and are only rivaled by diesel fuel, which is frequently requested in commercial cars and trucks, within internal combustion engines (ICE). Synthetic paraffinic kerosene and bio-based cyclopropylacetylene can be used to produce 100% biofuels that perform better than conventional petroleum-based fuels. Hence, owing to the above-mentioned fact the oil and gas sector will prove to be beneficial for the cyclopropylacetylene market growth.

Restraining Factors

"Toxic Nature of the Chemical to Deplete Market Advancement  "

But the cyclopropylacetylene included in gasoline can also cause confusion, giddiness, nausea, migraines, double vision, dizziness, and weakness.  Humans may experience narcosis or anesthetic effects from high concentrations of breathed chemical. Alkanes are depressants of the central nervous system. However, sudden deaths have been connected to people breathing hydrocarbon fumes including those present in gasoline, most likely as a result of erratic heartbeats.  Toxic Nature of the above-mentioned chemical proves to be a depleting factor in the cyclopropylacetylene market share expansion.

Cyclopropylacetylene Market Regional Insights

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"Increased Building Operations in Asia Pacific to Foster Market Growth"

Asia Pacific accounts for the majority of the chemical market. The Asia Pacific region's market is being driven by rising demand for the chemical as a result of increased transportation and building operations in emerging economies such as China and Japan. The Asia Pacific area is expected to keep up its position of power until 2030. The rise of various other end-user sectors in the area will boost chemical demand in the future years.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.

List of Market Players Profiled

• Shanghai Jixiang Pharmaceutical (China)
• Jiangxi Weikang Biotechnology (China)
• Shanghai Jixiang Pharmaceutical (China)

Report Coverage

The industry's growth was significantly influenced by the tactics employed by market participants in recent years, such as extensions. The report provides details and information on the companies and their interactions with the market. The data is gathered and published through appropriate research, technological advancements, expansions, and expanding machinery and equipment. Other criteria considered for this market are the firms that develop and provide new products, the areas in which they operate, mechanisation, innovative techniques, making the most money, and using their products to have a large social impact. This analysis examines the global and regional effects of the outbreak mostly on the market. The study describes the market share features, and market growth by type, industry, and customer sector.

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.