The calcium carbide market is expected to register a CAGR of more than 2.5% during the forecast period.
The COVID-19 outbreak affected many manufacturing industries and general economic activities in 2020. The implementation of lockdowns across various countries and disruptions in supply also impacted the chemical industry. At the same time, the slump in economic activity affected the development of infrastructure, the establishment of new industries, and expansions, seriously impacting the demand for metal products and the metallurgical industry. However, the demand from these sectors recovered in 2021 and is expected to grow at a moderate rate during the coming years.
Asia-Pacific dominated the market, with China being the largest producer and consumer of calcium carbide globally. During the time frame of the forecast, the Asia-Pacific region is expected to have the highest CAGR.
So, these factors and trends can affect the growth of the global calcium carbide market over the next few years.
The country's economy is expected to grow slowly, and demand for calcium carbide is expected to grow at a healthy rate over the next few years.
The calcium carbide market is partially consolidated with the top five players accounting for a significant share. Some of the key players in the market include Xinjiang Zhongtai Chemical Co., Ltd, Xinjiang Tianye (Group) Co., Ltd., Ningxia Jinyuyuan Chemical Group Co., Ltd., Inner Mongolia Baiyanhu Chemical Co., Ltd., and Denka Company Limited. (not in any particular order).
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