According to IMARC Group latest report titled “Acetylene Gas Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on acetylene gas market top key players. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global acetylene gas market size reached US$ 5.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 6.9 Billion by 2028, exhibiting a growth rate (CAGR) of 3% during 2023-2028.
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Acetylene gas, a hydrocarbon compound with the formula C2H2, is a colorless and highly flammable gas widely used in various industrial applications. It is primarily produced through the chemical reaction between calcium carbide and water. Acetylene is known for its high flame temperature when combusted, making it ideal for welding and cutting metals – a process known as oxy-acetylene welding. It also finds applications in the synthesis of several organic chemicals, including acetic acid and acetaldehyde, and as a precursor for plastics and rubbers. Additionally, the advantages of acetylene include its ability to produce a concentrated high-temperature flame, its efficiency in metal fabrication processes, and its versatility as a chemical building block in industrial organic chemistry.
Market Trends:
The global market is majorly driven by its extensive use in the metal fabrication and chemical industries. The primary factor propelling the market is the increasing demand in the construction and automotive sectors, where acetylene is essential for welding and cutting operations. Along with this, the growth of these industries, especially in emerging economies, is directly influencing the demand for acetylene gas. In addition, advancements in acetylene production technology, aimed at enhancing efficiency and reducing environmental impact, are influencing market expansion. Moreover, the rising application of acetylene in the synthesis of specialty chemicals, which are in high demand for various industrial processes is also favoring the market. Apart from this, the market is benefiting from the development of portable acetylene cylinders, catering to the need for mobile and flexible welding solutions in remote construction sites. Furthermore, industrial advancements and diverse application areas are creating a positive market outlook.
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Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players operating in the market.
- 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
- Toho Acetylene Co. Ltd.
Key Market Segmentation:
Our report has categorized the market based on region, production method and application.
Breakup by Production Method:
- Calcium Carbide
- Hydrocarbon Pyrolysis
Breakup by Application:
- Chemical Synthesis
- Welding and Cutting
- Metal Fabrication
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, South Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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