As per the latest report by IMARC Group, titled “Acetylene Gas Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global acetylene gas market size reached US$ 5.8 Billion in 2019. Also known as ethyne, acetylene (C2H2) is a flammable, colorless gas produced from hydrocarbon sources, such as naphtha, crude oil and coal. It has a faint garlic-like odor due to the presence of phosphine and becomes highly explosive when heated, liquefied, compressed or mixed with air. It is widely utilized as a fuel, chemical building block and raw material in the production of polyester plastics and polyurethane. Moreover, acetylene is one of the most preferred gases used in various industries, such as aerospace, automotive and transportation, for oxyacetylene welding and cutting.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.
Global Acetylene Gas Market Trends:
Acetylene gas is utilized in synthesizing chemicals, such as acetic acid, acetaldehyde and acetic anhydride. Moreover, as it assists in creating lubrication between the surface of different materials, it finds applications in the glass and materials processing industries for carbon coating. Apart from this, acetylene gas is used for various metalworking applications, such as brazing, welding, soldering, heat treating and oxyacetylene cutting. Furthermore, on account of rising environmental concerns and stringent government policies, leading players are increasing their R&D activities to generate acetylene gas from biogas and other bio-based fuels. However, due to the sudden outbreak of the coronavirus disease (COVID-19), governments of numerous countries have declared complete lockdowns. This, in confluence with the unavailability of labor and disruptions in the supply chain, has led to the temporary closure of manufacturing units. Although the market is negatively impacted by the spread of the pandemic, it is anticipated to revive once normalcy is regained. Looking forward, the market value is projected to grow at a CAGR of 2.90% during the forecast period (2020-2025).
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Key Market Segmentation:
The competitive landscape of the market has been examined, with some of the key players being Airgas, Inc., BASF SE, China Petroleum and Chemical Corporation, Gulf Cyro, Hebei Xingyu Chemical Co. Ltd., Ilmo Products Company, Linde Plc, Praxair, Inc., Shandong Xinlong Group Co. Ltd., Suzhou Jinhong Gas Co. Ltd., Dow Chemical Company and Toho Acetylene Co. Ltd.
Market Breakup by Production Method:
1. Calcium Carbide
2. Hydrocarbon Pyrolysis
Based on the production method, the market has been bifurcated into calcium carbide and hydrocarbon pyrolysis.
Market Breakup by Application:
1. Chemical Synthesis
2. Welding and Cutting
3. Metal Fabrication
On the basis of the application, the market has been segmented into chemical synthesis, welding and cutting, metal fabrication, and others.
Market Breakup by Region:
1. North America
2. Asia Pacific
4. Latin America
5. Middle East and Africa
Region-wise, the market has been classified into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others); Europe (the United Kingdom, Germany, France, Italy, Spain, Russia and others); Latin America (Brazil, Mexico and others); and Middle East and Africa.
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