The acetylene market is expected to record a CAGR of over 2.5% during the forecast period. The major factor driving the market studied is the growing demand from the power and chemical industry. However, environmental regulations are expected to hinder the growth of the market studied.
- The metalworking Industry dominated the global market share, and it is expected to experience growth during the forecast period, owing to the increase in metal working activities across the world.
- Asia-Pacific dominated the market across the world, with the largest consumption from countries, such as China and India.
Key Market Trends
Metalworking Industry to dominate the market
- Acetylene is chiefly used for oxyacetylene cutting, heat treating, and welding. Bulk acetylene is also used as a raw material in the chemicals processing industry for the production of organic compounds, including acetaldehyde, acetic acid, and acetic anhydride.
- Due to its triple bond structure, acetylene has the highest flame temperature. Acetylene achieves a flame temperature of 3090°C (5594°F), releasing 54.8 kJ/liter of energy when it undergoes combustion with oxygen. This highest flame temperature allows acetylene usage in metalworking applications, like cutting, welding, soldering, and brazing.
- The above-mentioned applications of acetylene are used in many end-user industries like automotive, aerospace, metal fabrication, pharmaceutical, glass, and other end-user industries.
- With the growing metalworking applications, the market for acetylene is projected to increase over the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific dominated the global market share. With growing transportation activities in countries such as China and Japan, the usage of acetylene (metalworking) is increasing in the region.
- Acetylene is also used to produce many essential chemicals such as; Vinyl chloride monomer, Acrylonitrile, Vinyl acetate, Vinyl ether, Acetaldehyde, 1,2-Dichloroethane, 1,4-Butynediol, Acrylate esters, Polyacetylene, and Polydiacetylene, among others. As Asia-pacific has the most significant market for the chemical industry as well, which shows an enormous scope for the acetylene market.
- Over the last couple of years, total property investment witnessed a rise in China. Real estate investment, which is mainly focused on the residential sector also includes the construction of commercial and office space, is acting as the key driver for the growth of the construction sector in China.
- China is the largest manufacturer of automobiles, in the world. The country’s automotive sector has been shaping up for product evolution, with the country focusing on manufacturing products, to ensure fuel economy and minimize emissions (due to growing environmental concerns, which are a result of the mounting pollution in the country).
- With the growth of various industries in the region, the market for acetylene is likely to surge over the forecast period.
The acetylene market is fragmentedin nature. The major companies include BASF SE, Gulf Cryo, The Linde Group, SINOPEC, and Praxair Technology, Inc, among others.
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