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CHEMICALS AND ADVANCED MATERIALSDISCOUNT VALID TILL 31st-JANUARY , 2022

Acetylene Market Segmentation by Application (Welding, Chemical Raw Materials, Portable Lighting, and Others); and by End-User Industry (Aerospace, Automotive, Chemical, and Others) – Global Demand Analysis & Opportunity Outlook 2031

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Extensive insights into the Growth of Acetylene Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

  • May, 2020: Linde plc to start a new syngas processing plant in the U.S., which can convert by-product Acetylene Off-Gas (AOG), into high-value products to supply to chemical manufacturers.

  • November, 2018: Ferrell gas Partners, L.P. Announced the Acquisition of Wylie LP Gas, Inc., to expand its distribution in Texas, U.S.

Global Acetylene Market Highlights over 2022 – 2031

The global acetylene market is estimated to grow at a CAGR of ~2% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the increasing use of acetylene for metal work, owing to the high temperature of the gas. Acetylene, or scientifically known as, ethyne, has a carbon triple bond, which provides it the highest flame temperature. The high temperature makes acetylene ideal for metallurgical works, which, in turn, is estimated to boost the market growth. In addition to this, the growth of the automotive market is directly anticipated to encourage the growth of the market, as acetylene is used for making the body and other metallic parts of the vehicles.

Acetylene Market

Moreover, increasing sale of cars globally, is foreseen to boost the market growth. According to the data by the International Energy Agency (IEA), in 2019, 25 million cars were sold in China, 17 million in United States, 17 million in European Union, and 21 million cars were sold in the rest of the world.

Net Car Sales (in Million), Selected Countries, 2019

The market is segmented by application into welding, chemical raw materials, portable lighting, and others, out of which, the welding segment is anticipated to hold the notable share in the global acetylene market over the forecast period. This can be attributed to the high flame temperature of acetylene. Combustion of acetylene with oxygen produces a flame of over 3,330 degree Celsius, which is used for welding and other metal works, which is estimated to boost the segment growth. CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Chemicals (% of Value Added in Manufacturing) – 2016-2018

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favourable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labour as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.

Global Acetylene Market Regional Synopsis

On the basis of geographical analysis, the global acetylene market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific region is estimated to experience a noteworthy growth over the forecast period on the back of growing sale for automobiles, along with presence of major automobile manufacturers in the region. According to the data by the India Brand Equity Foundation (IBEF), over 3.49 million units of passenger and commercial vehicles were sold in India in 2020.

The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the growing manufacturing of aircrafts, automobiles, and others. The growing sale of vehicles in the U.S. and Canada, is further estimated to raise the demand for acetylene in the region.

Global Acetylene Market Share

The global acetylene market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global acetylene market includes the following segments:

By Application

  • Welding
  • Chemical Raw Materials
  • Portable Lighting 
  • Others

By End-User Industry

  • Aerospace
  • Automotive
  • Chemical
  • Others

Growth Drivers

  • Increasing Use of Acetylene in Welding
  • Growing Global Automotive Industry

Challenges

  • Highly Unstable Nature of Acetylene
  • Toxic Impurities in Acetylene

Top Featured Companies Dominating the Market

  • BASF SE
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis 
  • Praxair, Inc.
  • China Petroleum & Chemical Corporation
  • Linde plc
  • Gulf Cryo
  • The Messer Group GmbH
  • Akzo Nobel N.V.
  • AmeriGas Partners, L.P.
  • Airgas USA LLC
  • Ferrellgas Partners, L.P.

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