[Online Quarterly Update] The 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 an 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 the reaction of water with calcium carbide, partial combustion of methane with air or oxygen, or by the passage of a hydrocarbon through an electric arc. Acetylene is also recovered as a side product in the production of ethylene by cracking 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 include 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 organic compounds such as Acetic Acid, Acetaldehyde, and Acetic Anhydride. The continuously growing demand for Acetylene by the chemical industry is likely to flourish in 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 for Acetylene by the automotive industry coupled with growing transportation activities for metalworking applications in 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 for Acetylene in the future.
Due to the outbreak of COVID-19, in 2020, the market was drastically affected. Government authorities in 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 consume Acetylene were drastically affected. As the lockdown restrictions are gradually uplifting, the operations are resuming, which will boost the demand for Acetylene by the end of the year.
Region-wise, the Asia Pacific region holds the largest share of the Acetylene market. The growing demand for 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. The expansion of several other end-user industries in the region will upsurge the demand for Acetylene in coming years.
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.
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.
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.
Report Scope:
In this report, global Acetylene market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
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Attribute
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Details
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Market size volume in 2020
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1.9 million tons
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Growth Rate
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CAGR of 4.10% from 2021 to 2030
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Base year for estimation
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2020
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Historic Data
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2015 – 2019
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Forecast period
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2022 – 2030
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Quantitative units
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Demand in tons and CAGR from 2021 to 2030
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Report coverage
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Revenue forecast, demand & supply, competitive analysis, competitive landscape, growth factors, and trends
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Segments covered
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By End Use: (Automotive, Aerospace, Metal Fabrication, Pharmaceutical, Glass, and Others)
By Application: (Chemical Synthesis, Welding and Cutting, Metal Fabrication, and Others)
By Sales Channel: (Direct Company Sale, Direct Import, Distributors & Traders)
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Regional scope
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North America; Europe; Asia Pacific; South America; Middle East & Africa
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Country scope
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United States; Mexico; Canada; China; India; Japan; South Korea; Taiwan; Singapore; Germany; Belgium; France; United Kingdom; Spain; Italy; Sweden; Austria; Saudi Arabia; Iran; South Africa; Brazil; Argentina
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Key companies profiled
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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.
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Customization scope
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Free report customization with purchase. Addition or alteration to country, regional & segment scope.
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Pricing and purchase options
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Available Customizations:
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
In case you do not find what, you are looking for, please get in touch with our custom research team at sales@chemanalyst.com
