[Online Quarterly Update]Global Acetylene Market has shown considerable growth as it reached 1.9 million tonnes in 2020 and is expected to achieve a healthy CAGR of 4.10% during the forecast period until 2030. Acetylene with the chemical formula C₂H₂ is the simplest alkyne and a hydrocarbon. Acetylene is odorless and colorless gas that is widely used as a key fuel and a chemical building block. It is usually handled as a solution as it is unstable in its pure form. It is manufactured by three methods, including reaction of water with calcium carbide, by partial combustion of methane with air or oxygen, or by passage of a hydrocarbon through an electric arc. Acetylene is also recovered as a side product in the production of ethylene by cracking of hydrocarbons. There are various industrial and commercial applications of Acetylene, but it is mainly manufactured for the synthesis of chemicals. Some of the major end uses of the chemical includes welding, cutting, heat treating, portable lighting, Plastics and acrylic acid derivatives and others. Approximately 20% of Acetylene is supplied by the industrial gases industry for oxyacetylene gas welding and cutting processes as it has the highest flame temperature. Bulk quantity of Acetylene is widely used as a feedstock in the chemical industry for the production of the production of organic compounds such as Acetic Acid, Acetaldehyde and Acetic Anhydride. Continuously growing demand of Acetylene by the chemical industry is likely to flourish the market in the next few years. On the basis of end-user industries, the global market is segmented into automotive, aerospace, metal fabrication, pharmaceutical, glass, and others. The metal fabrication industry is expected to dominate the global market of Acetylene in the forecast period owing to increasing applications of metalworking across the globe. The rising demand of Acetylene by the automotive industry coupled with growing transportation activities for metalworking applications in the automobiles is anticipated to propel the global Acetylene market in upcoming years. Increasing construction activities especially in the Asia Pacific region will further accelerate the demand of Acetylene in the future.
Due to the outbreak of COVID-19, in 2020, market was drastically affected. Government authorities in major emerging as well as industrialized economies imposed several restrictions along with countrywide lockdowns, due to which many end-user industries had a negative impact. Manufacturing units temporarily halted their operations in order to curb the spread of coronavirus. Industries such as construction, automotive, glass, chemical and others that largely consumes Acetylene were drastically affected. As the lockdown restrictions are gradually uplifting, the operations are resuming, which will boost the demand of Acetylene by the end of the year.
Region wise, the Asia Pacific region holds the largest share of the Acetylene market. Growing demand of Acetylene due to increased transportation and construction activities in emerging economies like China and Japan is driving the market in the Asia Pacific region. It is forecasted that the Asia Pacific region will maintain its dominance until 2030. With the expansion of several other end-user industries in the region will upsurge the demand of Acetylene in coming years.
Years considered for this report:
Historical Period: 2015-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022–2030
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Objective of the Study:
• To assess the demand-supply scenario of Acetylene which covers production, demand and supply of Acetylene market globally.
• To analyse and forecast the market size of Acetylene.
• To classify and forecast global Acetylene market based on application, technology, end-use and regional distribution.
• To identify drivers and challenges for global Acetylene market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global Acetylene market.
• To identify and analyse the profile of leading players involved in the manufacturing of Acetylene.
Major players for Acetylene globally include BASF SE, China Petroleum and Chemical Corporation, Airgas, Gulf Cyro, Hebei Xingyu Chemical Co. Ltd., Linde Aktiengesellschaft, Praxair Inc., Ilmo Products Company, Shandong Xinlong Group Co. Ltd., Suzhou Jinhong Gas Co. Ltd., The Dow Chemical Company, Toho Acetylene and Others.
To extract data for global Acetylene market, primary research surveys were conducted with Acetylene manufacturers, suppliers, distributors, wholesalers and end users. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end user segments and projected a positive outlook for Global Acetylene market over the coming years.
ChemAnalyst calculated Acetylene demand globally by analyzing the historical data and demand forecast which was carried out considering imported Acetylene, styrene prices, monomers used for production of Acetylene. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Acetylene manufacturers and other stakeholders
• Organizations, forums and alliances related to Acetylene distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Acetylene manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
In this report, global Acetylene market has been segmented into following categories, in addition to the industry trends which have also been detailed below.
Market, by End Use
Automotive, Aerospace, Metal Fabrication, Pharmaceutical, Glass, and Others
Market, by Application
Chemical Synthesis, Welding and Cutting, Metal Fabrication, and Others
Market, by Sales Channel
Direct Company Sale, Direct Import, Distributors & Traders
Market, by Region
North America, APAC, Europe, MEA, South America
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