Increasing need for acetylene as a fuel gas and rising demand for acetylene in the metalworking sector worldwide are key factors driving market revenue growth.

VANCOUVER, BRITISH COLUMBIA, CANADA, June 10, 2024 /EINPresswire.com/ -- The global acetylene market size was USD 3.60 Billion in 2022 and is expected to register a rapid revenue CAGR of 5.4% during the forecast period. Acetylene, a versatile gas with myriad industrial applications, is witnessing robust market growth worldwide. A recent market research report highlights the driving factors, emerging trends, and segment insights propelling the expansion of the global acetylene market.

Key Drivers of Acetylene Market Growth

The surge in demand for acetylene stems from its pivotal role in metalworking, chemical production, and various scientific investigations. Across industries, acetylene is indispensable for welding, cutting, and chemical synthesis processes.

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Market Restraints and Trends

While the market is on an upward trajectory, concerns regarding the harmful effects of acetylene at high concentrations pose a challenge. However, ongoing research endeavors exploring acetylene's potential as an alternative fuel source and its applications in power transformer monitoring showcase promising trends in the market.

Segment Insights

Acetylene Types: The market segmentation based on production methods includes calcium carbide production, thermal cracking process, and hydrocarbon pyrolysis production. Among these, the thermal cracking process dominates the market due to its efficiency in sustainable chemical production.

End-Use Industries: Automotive, chemical, and metalworking industries emerge as key segments driving the demand for acetylene. The automotive sector particularly benefits from acetylene's durability, enhancing the functionality and longevity of automotive parts.

Future Outlook

The global acetylene market is poised for steady growth, fueled by advancements in production methods, expanding applications, and increasing demand across diverse industries. As industries strive for sustainability and efficiency, acetylene remains a vital component in their operations.

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Acetylene Top Companies and Competitive Landscape

The global acetylene market is fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective acetylene solutions in the market.

Some major players included in the global acetylene market report are:

Linde plc

Sichuan Vinylon

BASF SE

Dow

DuPont

Xinjiang Shanzhi Education Technology Co., Ltd.

Airgas, Inc.

Gulf Cryo

ILMO Products Company

Fujian Jiuce Group Co., Ltd.

NIPPON SANSO HOLDINGS CORPORATION

Axcel Gases

Air Products and Chemicals, Inc.

Air Liquide India

Asia Technical Gas Co Pte Ltd.

Jinhong Gas Co., Ltd.

KOATSU GAS KOGYO CO., LTD.

NOL Group

TOHO ACETYLENE Co.

HEBEI XINGYU CHEMICAL CO., LTD.

Acetylene Latest Industry News

On 25 May 2023, Transform Materials LLC. and Denka Company Limited signed a multi-year facility development and installation agreement to construct an on-site solution that uses green chemistry to produce the first-ever Carbon Dioxide (CO2)-free acetylene. Denka plans to invest USD 623 million as a part of Mission 2030 to cut CO2 emissions by 60% compared to fiscal 2013. The company is also moving forward with portfolio transformation by putting Transform Materials' green technologies to use and setting up a low-carbon manufacturing process.

On 5 May 2022, Orion Engineered Carbons, a specialty chemical company, announced its plans to construct the first conductive additives plant in the U.S. based on acetylene. The building of this acetylene-based conductive additives plant is expected to propel the global shift to electrification and renewable energy by serving as a vital link in the value chain for products such as high-voltage cables and lithium-ion batteries. A long-term deal for acetylene supply from a nearby site held by Equistar Chemicals LP, a LyondellBasell subsidiary, will support Orion's proposed factory in La Porte, Texas, south of Houston.

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Acetylene Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the global acetylene market on the basis of type, sales channel, application, end-use industry, and region:

Type Outlook (Revenue, USD Billion; 2019-2032)

Calcium Carbide Production

Thermal Cracking Process

Hydrocarbon Pyrolysis Production

Sales Channel Outlook (Revenue, USD Billion; 2019-2032)

Direct Company Sale

Direct Import

Distributors and Traders

Application Outlook (Revenue, USD Billion; 2019-2032)

Chemical Synthesis

Metal Working

Welding and Cutting

Carbon Coatings

Acetylic Alcohols

Others

End-use Industry Outlook (Revenue, USD Billion; 2019-2032)

Chemical Industry

Glass and Material Processing Industry

Aerospace

Automotive

Pharmaceuticals

Others

Regional Outlook (Revenue, USD Billion; 2019-2032)

North America

U.S.

Canada

Mexico

Europe

Germany

France

UK

Italy

Spain

Benelux

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

UAE

South Africa

Turkey

Rest of Middle East & Africa

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