LONDON--(BUSINESS WIRE)--The global acetylene gas market is expected to grow by 105.13 million tons during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
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The superior properties of acetylene are expected to drive the growth of the acetylene gas market during the forecast period. The demand for acetylene is high in the metal fabrication industry. The gas is the most effective for oxyacetylene cutting, heat treatment, oxy-welding, gas welding applications, brazing, soldering, flame heating, flame straightening, flame gouging, and flame cleaning. Acetylene gas has the highest flame temperature of all hydrocarbons available in the market. Acetylene provides good localized heating with minimal thermal waste. It has improved cut quality. It has higher cutting speeds due to its fast preheating and piercing times among other fuel gases. It consumes less amount of oxygen for complete combustion. A low flame moisture content makes acetylene a good choice for the critical heating process.
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As per Technavio, the surge in application prospects will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Acetylene Gas Market: Surge in Application Prospects
The consumption of acetylene in glass, cement and lime laboratories, pharmaceuticals, and paper and pulp industries is growing. In glass, cement, and lime industries, acetylene is used for the automatic lubrication of glass bottle production molds. In laboratories, acetylene is used in atomic energy spectrophotometry and carbon dating process. Acetylene fueled atomic absorption instruments allow the identification of many elements. In the paper and pulp industry, it is used as an alternative to chlorine-based chemicals for bleaching to enhance the brightness of the pulp. In the pharmaceutical industry, it is used to synthesize modern drugs and products such as TMS-acetylene, phenyl acetylene, and other acetylene derivatives. This increase in the application of acetylene across industries is expected to drive the growth of the market.
“Other factors such as the increased demand from APAC, and the growth of the end-user industries will have a significant impact on the growth of the acetylene gas market value during the forecast period,” says a senior analyst at Technavio.
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Acetylene Gas Market: Segmentation Analysis
This market research report segments the acetylene gas market by application (chemical synthesis, welding and metal fabrication, and others) and geography (APAC, Europe, North America, MEA, and South America).
The APAC region led the acetylene gas market in 2019, followed by Europe, North America, MEA, and South America respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the rapid expansion of end-user industries such as automotive, paper, glass, plastics, and others and abundant supply of raw materials used for producing acetylene.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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