DUBLIN--(BUSINESS WIRE)--The "Acetylene Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The global acetylene market is expected to record a CAGR of over 2.5% during the forecast period 2019-2024.
The major factor driving the market studied is the growing demand from the power and chemical industry. However, environmental regulations are expected to hinder the growth of the market studied.
- The Metalworking Industry dominated the market in 2018, and it is expected to experience growth during the forecast period, owing to the increasing metal working activities across the world.
- Asia-Pacific dominated the market across the world, with the largest consumption from countries, such as China and India.
Major Market Trends
Metalworking Industry to Dominate the Market
- Acetylene is chiefly used for oxyacetylene cutting, heat treating, and welding. Bulk acetylene is also used as a raw material in the chemicals processing industry for the production of organic compounds, including acetaldehyde, acetic acid, and acetic anhydride.
- Due to its triple bond structure, acetylene has the highest flame temperature. Acetylene achieves a flame temperature of 3090C (5594F), releasing 54.8 kJ/liter of energy when it undergoes combustion with oxygen. This highest flame temperature allows acetylene usage in metalworking applications like cutting, welding, soldering, brazing.
- The above-mentioned applications of acetylene are used in many end-user industries like Automotive, Aerospace, metal fabrication, Pharmaceutical, Glass, and Others.
- With the growing metalworking applications, the market for acetylene is projected to increase over the forecast period.
Asia-Pacific to Dominate the Market
- Asia-Pacific dominated the global market share in 2018. With growing transportation activities in countries such as China and Japan, the usage of acetylene (metalworking) is increasing in the region.
- The total number of vehicles produced in China, in 2018 was 27,809,196 units, showing the highest number globally. And the number of vehicles produced in Japan was 9,728,528 units in 2018. India has seen an increase of 8% in the vehicle's production from the year 2017 that is 4,782,896 units to 5,174,645 units in 2018.
- Acetylene is also used to produce many essential chemicals such as; Vinyl chloride monomer, Acrylonitrile, Vinyl acetate, Vinyl ether, Acetaldehyde, 1,2-Dichloroethane, 1,4-Butynediol, Acrylate esters, Polyacetylene, and Polydiacetylene, among others. As Asia-pacific has a most significant market for the chemical industry as well, which shows an enormous scope for acetylene market
- With the growing automotive and chemical industries in the region, the market for acetylene is likely to surge over the forecast period.
The global Acetylene market is fragmented. The major companies include BASF, Gulf Cryo, Linde, SINOPEC, and Praxair Technology, among others.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Continuous Demand in Metal Working Industries Across the Globe
4.1.2 Raising Demand in Chemical Production
4.1.3 Other Drivers
4.2.1 Stringent Environment Regulations
4.2.2 Harmful Effects of Acetylene at Higher Concentrations
4.2.3 Other Restraints
4.3 Industry Value-Chain Analysis
4.4 Porters 5 Force Analysis
5 MARKET SEGMENTATION
5.1.1 Metal Working
5.1.2 Chemical Raw Materials
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
5.2.2 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
5.2.4 South America
188.8.131.52 Rest of South America
5.2.5 Middle East & Africa
184.108.40.206 Saudi Arabia
220.127.116.11 South Africa
18.104.22.168 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 BASF SE
6.4.2 Chengdu Xinju Chemical Co. Ltd.
6.4.3 Gulf Cryo
6.4.4 ILMO Products Company
6.4.6 Praxair Technology Inc.
6.4.8 Suzhou Jinhong Gas Co. Ltd.
6.4.9 Toho Acetylene Co. Ltd.
6.4.10 Xinglong Group
6.4.11 Xinju Chemical
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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