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Acetylene Market Overview
The acetylene market size is estimated to reach USD13.6 billion by 2027 after growing at a CAGR of around 4.3% from 2022 to 2027. The acetylene is a colorless hydrocarbon gas and is one of the simplest alkyne. It is used as a raw material for the chemical processing sector in producing organic compounds such as acetic acid, acetaldehyde, and others. It has major applications such as heat treating, oxyacetylene cutting, welding, chemical processing, metal working, and others. The triple bond structure of the acetylene gives it a high flame temperature, thereby making suitable for metalworking, welding, and brazing. Moreover, the acetylene industry is experiencing a major growth share owing to its major applications in chemical processing and manufacturing. Furthermore, the rise in industrial, automotive, chemicals, and glass and material processing sector is driving the growth in acetylene market during the forecast period.
The acetylene market was affected by the COVID-19 pandemic. The acetylene is majorly used in the chemical synthesis, welding, metalworking, and others. The application of acetylene in chemical industry for making various inorganic compounds and synthesis of chemical components. The lockdown restrictions, raw material unavailability, and supply disturbance has resulted in the decline for such applications. The chemical sector was affected by the outbreak. The halt in chemical manufacturing, shutdown of chemical plants across the globe, and logistics disruptions created a fall in the global chemical industry. According to National Bureau of Statistics, a decline of 21% was experienced by the chemical manufacturing sector in China. With the falling chemical segment, the demand for acetylene in chemical synthesis and intermediate for chemical manufacturing. Moreover, the demand for metalworking applications of acetylene faced a decline in pandemic due to halted manufacturing, remote working, and commercial closures in the metal welding and assembling, and other activities, thereby negatively impacting the growth prospect for the global acetylene industry during covid-19.
Acetylene Market Segment Analysis – By Production
By production process, the hydrocarbon pyrolysis segment is expected to have the largest share of over 30% in 2021 and is expected to dominate the acetylene market in the coming years. The hydrocarbon pyrolysis process is growing as it offers specific advantages such as valuable by-products, price benefit, yield, and availability. According to World Bank, $32 million sales was reported by the exports of producer gas, acetylene gas generators, and others in 2020. Moreover, rising emphasis on producing acetylene through hydrocarbon raw material, such as natural gasoline, propane, and others, which are heavier than the methane has been made. The non- aromatic hydrocarbons provides better reactivity of chemicals compared to partially aromatic. Thus, with major benefits such as higher yield, and valuable end products, the hydrocarbon pyrolysis segment is expected to gain a massive share in the acetylene market in the coming years.
Acetylene Market Segment Analysis – By Application
By application, the chemical synthesis segment is expected to have the largest growth share of over 35% in 2021 and is expected to increase the acetylene market size in the coming years. The acetylene has major use as an intermediate in the manufacturing for the chemicals such as 1,4 butanediol, acetylenic alcohols, and others. The acetylene gas is also widely used in synthesis of specific vitamins such as vitamin A, E, and others. Furthermore, the acetylene is also mixed with other chemicals such as hydrochloric acid, chorine, and others for producing different plastics such as PVDF, PVC, and others. According to the China Plastic Processing Industry Association, the production capacity for PVC resins increased from 23.47 million tons to 25.19 million tons from year 2015-2019. the global chemical output was expected to show a growth by 3.9% in 2021. Thus, the demand for acetylene is expected to grow with the rising performance in chemical sector, increased manufacturing, and chemical synthesis applications in the coming years.
Acetylene Market Segment Analysis- By End-Use Industry
By end-use industry, the chemical segment is expected to have the largest share of over 30% in 2021 and is expected to dominate the market in the coming years. The acetylene is widely used in the synthesis of various organic chemical compounds. The acetylene works as a building block in chemical industry due to its high reactivity and structural simplicity. It is mixed with various chemical components to produce wide range of products such as polymer additives, solvents, perfume components, and active compounds. Moreover, the rise in recovery for chemical industry post pandemic has boosted the application scope for acetylene. According to the World Bank, the estimated manufacturing in chemical industry was reported to rise by 16.3% in United States manufacturing value compared to the year 2018. Thus, with the rising manufacturing of chemicals and synthesis appliances, the chemical industry is expected to gain a major share in the global acetylene market in the coming years.
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Acetylene Market Segment Analysis – By Geography
The Asia Pacific holds the largest share in the acetylene market, owing to the major end-use industry in the region for the year 2021 and is expected to increase the acetylene market size by 41% during the forecast period. The growth of ethylene industry in Asia Pacific is influenced by the rising chemical processing, automotive dominance, and pharmaceuticals. The growing metalworking application in APAC is also adding to the high demand for acetylene in this region. Furthermore, the rising automotive sector in major nations such as China and India will lead to the demand for acetylene for automotive parts manufacturing and metal fabrication. According to the India Brand Equity Foundation (IBEF), around 3.50 million commercial and passenger vehicles were reported to be sold in India for the year 2020. Thus, with the growing automotive, chemical, and pharmaceutical sectors in APAC, the market for acetylene is expected to experience a major drive and growth opportunities in the coming years.
Acetylene Market Drivers
Increasing demand from the metalworking sector
The acetylene is majorly used for welding, oxyacetylene cutting, heat treating, and other applications in the metal working and fabrication. The acetylene offers high flame temperature, which makes it suitable for the metal works. The combustion of oxyacetylene offers fast preheating and piercing, therefore offering better cutting quality, cut initiation timing, and speed. According to Directorate General of Commercial Intelligence & Statistics, iron ores reached USD 2.24 billion in 2021, reporting an increase by 21% year on year, thereby boosting the metal working demand and applications. Furthermore, rising demand from metallurgical sector and use of calcium carbide is driving the acetylene market and offering major growth to the industry. The acetylene achieves a 3090°C flame temperature and allows various applications such as metal welding, cutting, brazing, and soldering. Moreover, major end-use industries such as automotive, aerospace, glass and materials, and others are widely adopting the welding and cutting applications, thereby creating a major growth in the market and offering a better acetylene industry outlook.
Increasing demand from chemical sector
The chemical industry makes major use of acetylene for synthesis and production of various chemical compounds. The growing applications of acetylene for chemical manufacturing and synthesis will drive the market. Acetylene is used as a raw material or building block for producing various inorganic compounds. The production of acetic acid, acetylenic alcohols, butanediol, and others will boost the demand for acetylene in the coming years. According to the American Chemistry Council (ACC), the global chemical output was expected to show a growth by 3.9% in 2021. The bulk quantity of acetylene is used as feedstock in chemical sector for making organic compounds such as acetic anhydride, acetaldehyde, and others, Thus, with growing demand in the chemical manufacturing and production, the acetylene market will experience major drive and growth in the coming years.
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Acetylene Market Challenges
Environmental threat and instability of acetylene
The acetylene is asphyxiant and is considered to be highly unstable in nature. It can strongly react with impurities and oxygen, resulting in major hazards. The high concentration of acetylene can even lead to death or loss of consciousness. The 15 psig is considered as safe upper pressure limit for the acetylene. The emissions of highly unstable acetylene in open surrounding can lead to major health as well as negative environmental impacts. The acetylene is referred as controlled product, Hazard Classes A, B1, and F as per the controlled product regulations, Canadian Workplace Hazardous Materials Information System (WHIMS). Furthermore, manufacturing and processing of acetylene requires extreme care and precautions, thereby leading to high spending on handling and safety measure and creating a challenge in the market.
Acetylene Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies that are adopted by the dominant players in the acetylene market. The major acetylene top 10 companies include:
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A. Calcium Carbide Market – Forecast (2022 – 2027)
B. Acetaldehyde Market – Forecast (2022 – 2027)
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