Overview and Scope
Acetylene is a colorless, combustible gas with a distinctive odor. It is the only fuel gas that can be used for welding. Acetylene is the simplest alkyne and a hydrocarbon that is generally handled as a solution due to its unstable form.
Sizing and Forecast
The acetylene market size has grown strongly in recent years. It will grow from <b>$10.81 billion in 2023 to $11.6 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. </b> The growth in the historic period can be attributed to growing industrialization, booming infrastructure development, growing construction industry, demand for chemical manufacturing, .
The acetylene market size is expected to see strong growth in the next few years. It will grow to <b>$15.46 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. </b> The growth in the forecast period can be attributed to growing renewable energy, growing aerospace and defense industry, expanding the electronics industry, growing demand for acetylene for medical applications. Major trends in the forecast period include digitization and automation, hybrid welding technologies, recycling acetylene gas, acetylene substitutes, green hydrogen production.
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Segmentation & Regional Insights
The acetylene market covered in this report is segmented –
1) By Type: Calcium Carbide Production, Thermal Cracking Process
2) By Application: Automotive, Metal fabrication, Aerospace, Pharmaceutical, Other Applications
3) By Sales Channel: Direct Company Sale, Direct Import, Distributors & Traders
<b>Asia-Pacific</b> was the largest region in the acetylene market in 2023. <b>North America</b> was the second-largest region in the global acetylene market. The regions covered in the acetylene market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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Major Driver Impacting Market Growth
The acetylene market is expected to be driven by the growing applications of acetylene across various industries. Acetylene is used as a raw material for the production of different organic chemicals, including 1,4-butanediol, which is widely used in the preparation of polyurethane and polyester plastics. Acetylene is also used as the fuel in oxyacetylene welding and metal cutting.
Key Industry Players
Major companies operating in the acetylene market include <b> BASF SE, Gulf Cryo, Linde plc, Praxair Inc., Sinopec, Chengdu Xinju Chemical Co. Ltd., ILMO Products Company, Suzhou Jinhong Gas Co. Ltd, Toho Acetylene Co. Ltd, Xinglong Group, Xinju Chemical Co. Ltd, Airgas, Ho Tung Chemical, Markor, Lutianhua, Jiuce Group, JinHong Gas, Xinlong Group, Dow Company, Dongxiang Gas, Sichuan Vinylon, Air Products and Chemicals Inc, Air Liquide, Linde, Air Products and Chemicals, Matheson Gas, Messer Group, SIG Gases Berhad, SOL Spa, Cee Kay Supply, Mississippi Welders Supply, Red Ball Oxygen, Hohman Plating & Manufacturing, Roberts Oxygen Company, Southern Gas & Supply, CO2 Masters, Rocky Mountain Air Solutions, Spec Air, Purity Cylinder Gases, The Archer Group, Welders Supply and Equipment, Metro Welding Supply, Delille Oxygen Company, Cryogas, A-OX Welding Supply, Cryostar Industries, Complete Welders Supply, Penn-Air & Hydraulics Corp. </b>
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