Acetylene Market to Grow by a CAGR of ~2% during 2022 – 2031; Increasing Demand for Welding in Various End-User Industry to Boost the Market Growth
Acetylene Market Projected to Grow At a CAGR of ~2% during 2022 – 2031
Research Nester published a report titled “Acetylene Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global acetylene market in terms of market segmentation by application, end-user industry, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global acetylene market is anticipated to attain a CAGR of ~2% over the forecast period, i.e., 2022 – 2031. The market is segmented on the basis of application into welding, chemical raw materials, portable lighting, and others, out of which, the welding segment is anticipated to hold the notable share over the forecast period owing to the high flame temperature of acetylene. The high flame temperature is ideal for welding, which is estimated to boost the segment growth.
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The global acetylene market is anticipated to witness growth on the back of increasing application of acetylene, such as, manufacturing new chemicals, metal work, and others. Acetylene gas produces a high temperature flame on combustion with oxygen, which makes it suitable for welding metals. Moreover, the growing demand for acetylene in the automotive industry is estimated to boost the market growth. Furthermore, the increasing manufacturing and sales of automobiles, is also anticipated to boost the market growth over the forecast period. 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.
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 account of the presence of major automobile manufacturers in the region. Moreover, the growing chemical sector in the APAC region is further anticipated to propel the regional market growth.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
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Growing Application of Acetylene in Automotive Industry to Boost the Growth of the Market
Acetylene or ethyne has a triple bond between the two carbon atoms, which is responsible for the high flame temperature on combustion. This is why, acetylene gas is used for welding in the automobiles, aircrafts, and other metal work. This factor is primarily anticipated to drive the market growth.
However, highly unstable nature of acetylene and presence of toxic impurities in acetylene gas are expected to operate as key restraint to the growth of global acetylene market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global acetylene market which includes company profiling of Linde plc, Gulf Cryo, The Messer Group GmbH, Akzo Nobel N.V., BASF SE, AmeriGas Partners, L.P., Airgas USA LLC, Ferrellgas Partners, L.P., Praxair, Inc., and China Petroleum & Chemical Corporation. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global acetylene market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.