Global Acetylene Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Acetylene Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Acetylene, the molecular formula C2H2, commonly known as wind coal and calcium carbide gas, is the smallest member of the alkyne compound series, mainly for industrial purposes, especially for welding metals. Acetylene is a colorless, highly flammable gas at room temperature.

Market Overview:

The latest research study on the global Acetylene market finds that the global Acetylene market reached a value of USD 2653.53 million in 2022. It’s expected that the market will achieve USD 3043.9 million by 2028, exhibiting a CAGR of 2.31% during the forecast period.

Opportunities and Drivers

Acetylene is chemically active and can react with many reagents. So far, acetylene is one of the most important raw materials for organic synthesis, such as addition with hydrogen chloride, hydrocyanic acid, and acetic acid, can produce raw materials for the production of high polymers. The growing demand for acetylene gas used in the production of chemicals is one of the most important driving forces and has a positive impact on the market. Secondly, acetylene gas has the highest flame temperature among hydrocarbons, so it can be used for welding and cutting of metal products. In the forecast, the application of metal welding is increasing year by year. More and more cutting and welding applications will promote the growth of the acetylene gas market. In addition, the main end-user industries of acetylene gas include automobiles, metal manufacturing, aerospace, pharmaceuticals and glass. Therefore, High performance large downstream applications is one of the important factors driving the development of this market.

With the development of Internet technology, many chemical manufacturers are using IoT (Internet of Things) technology to connect devices and smart devices to gain real-time insights and identify gaps in the manufacturing process. The data obtained through these devices is processed, analyzed and interpreted by factory managers and senior management to improve quality and achieve optimal production levels. The development of technology will greatly improve the production level and build an effective management mechanism.

Region Overview:

China had the highest growth rate of all regions.

Company Overview:

The top three companies are BASF, SINOPEC and Markor with the revenue market share of 10.09%, 9.61% and 9.38% in 2019.

BASF SE is a chemical company. The Company operates in six segments, including chemicals, plastics, performance products, functional solutions, agricultural solutions, and oil and gas. BASF offers products for the chemical, automotive, construction, agriculture, oil, plastics, electrical, electronics, furniture, and paper industries, and provides a range of system solutions and services.

SINOPEC produces and trades petroleum and petrochemical products. The Company offers gasoline, diesel, jet fuel, kerosene, ethylene, synthetic fibers, synthetic rubber, synthetic resins, and chemical fertilizers. SINOPEC markets its products throughout China.

Segmentation Overview:

Among different product types, Calcium Carbide Production segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Chemical Raw Materials segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Acetylene market covered in Chapter 3:

Lutianhua
Taiyo Nippon Sanso Corporation
Air Products & Chemicals
Linde (Praxair Included)
Gulf Cryo
Toho Acetylene
Ho Tung Chemical
Markor
JinHong Gas
Dow
Jiuce Group
BASF
SINOPEC
Air Liquide Group

In Chapter 4 and Chapter 14.2, on the basis of types, the Acetylene market from 2018 to 2029 is primarily split into:

Calcium Carbide Production
Thermal Cracking Process

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Acetylene market from 2018 to 2029 covers:

Chemical Raw Materials
Welding
Other

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)