New York, Oct. 08, 2023 (GLOBE NEWSWIRE) -- The global Calcium Carbide Market is expected to witness significant growth at a CAGR of 4.6% during the forecast period of 2023-2031. Factors such as the significant growth in the demand for acetylene and its derivatives, and the growing production of steel are propelling the growth of the global calcium carbide market, and others are accelerating the demand for calcium carbide, which, in turn, is boosting the market growth. In addition, the significant growth in the metal fabrication and construction industry will further boost the market growth during the forecast period.
According to a recent report by Consegic Business Intelligence, the calcium carbide market is poised for strong expansion and is expected to reach USD 19,997.11 Million by 2031 with a compound annual growth rate of 4.6% during the forecast period of 2023-2031. The market was valued at USD 13,361.04 million in 2022 and is expected to reach USD 19,997.11 million in 2031. The report highlights the significant growth in the demand for acetylene and its derivatives across the globe, which is augmenting the global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the calcium carbide market.
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Calcium carbide is an inorganic compound with the chemical formula CaC2. It is also known as calcium acetylide, phenyl glyceryl ether diacetate, and glycerol phenyl ether diacetate. Calcium carbide is a grayish-black lump or crystalline powder with a garlic-like odor. It is used to generate acetylene gas, as a reducing agent, and in steel manufacturing and metal cutting. It is also used for welding, ripening fruit, and desulfurization processes.
Acetylene gas produced by calcium carbide is commonly used in the construction industry for tasks such as soldering, brazing, and heating. These processes are crucial for joining metals, especially in plumbing, HAVC systems, and structural work. In construction, calcium carbide derived acetylene is used in specialized equipment to cut concrete. The high-temperature flame produced by acetylene is effective at cutting through thick concrete structures.
Global Calcium Carbide Market: Report Attributes
| Report Attributes | Report Details |
| Study Timeline | 2017-2031 |
| Market Size in 2031 (USD Million) | USD 19,997.11 Million |
| CAGR (2023-2031) | 4.6% |
| By Application | Acetylene Gas, Calcium Cyanamide, Desulfurizing Agent, Reducing Agent, and Others |
| By End-user Industry | Steel Manufacturing, Chemical, Pharmaceutical, Metal Fabrication, Construction Material, Energy & Power, and Others |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more. |
| By Region | North America, Asia-Pacific, Latin America, Europe, Middle East & Africa |
| Key Players | Denka Company Limited, American Elements, Lonza, Mil-Spec Industries Corporation, Xiahuayuan Xuguang Chemical, Carbide Industries LLC, APH-Regency Power Group, MCB Industries Sdn. Bhd., KC Group, DCM Shriram Ltd., and AlzChemss |
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Global Calcium Carbide Market Segmentation Details:
Based on Application, the acetylene gas segment contributed the largest shares to the market growth in 2022. Acetylene is a colorless, flammable, hydrocarbon gas with the chemical formula C2H2. It has two carbon atoms and two hydrogen atoms. It has a distinctively sharp, pungent odor. Acetylene is produced by the decomposition of calcium carbide (CaC2) in water. While acetylene is a useful gas for many applications. The significant growth in the production of chemicals worldwide is driving the segment growth across the globe.
Based on the End-user Industry, the chemical segment accounted for the largest market share in the year 2022. Calcium carbide has several applications in the chemical industry due to its ability to produce acetylene gas when it reacts with water. Acetylene gas derived from calcium carbide serves as a versatile feedstock for various chemical processes such as the synthesis of vinyl chloride monomer, acrylic acid and esters, organic compounds, acetylic black, and others. The significant growth in the investment in the chemical industry is driving the segment growth across the globe.
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Based on Region, in the year 2022, Asia Pacific accounted for the largest share contribution to the market growth. Calcium carbide is used in the production of acetylene gas, which finds application in pharmaceutical, construction, steel manufacturing, and others. Significant growth in these industries across the Asia Pacific is driving the calcium carbide market in the region.
Competitive Landscape
Denka Company Limited, American Elements, Lonza, and Mil-Spec Industries Corporation, are major market players that comprise the latest market circumstances. These companies are substantially leveraging their technologies for the development of a new range of calcium carbide. Further, the calcium carbide market is expected to grow steadily due to the significant growth in the demand for acetylene and its derivatives, especially in regions such as the Asia Pacific, the Middle East, and Europe are estimated to boost the market statistics in the coming years. Additionally, the trend of using calcium carbide for chemical production is benefitting the market growth globally.
Recent Developments
- In May 2023, Denka Company Limited announced a partnership with Tranform Materials LLC. For the establishment of low carbon production acetylene by calcium carbide.
Key Market Takeaways
- Asia Pacific accounted for the highest market share at 38.15% valued at USD 5,097.24 million in 2022 and will reach USD 5,313.90 million in 2023 and is expected to reach USD 7,670.89 million in 2031. Moreover, in Asia Pacific, China accounted for the highest market share of 25.15% during the base year of 2022.
- In the application, the acetylene gas segment is expected to contribute significant shares to the growth of calcium carbide market statistics during the forecast period.
- In the end-user industry, the chemical segment is expected to contribute significant shares to the growth of calcium carbide market statistics during the forecast period.
- North America is expected to boost the market demand for calcium carbide due to the significant growth in the manufacturing, energy, and power sectors across the North America region.
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List of Major Global Calcium Carbide Market:
- Denka Company Limited
- American Elements
- Lonza
- Mil-Spec Industries Corporation
- Xiahuayuan Xuguang Chemical
- Carbide Industries LLC
- APH-Regency Power Group
- MCB Industries Sdn. Bhd.
- KC Group
- DCM Shriram Ltd.
- AlzChem
Global Calcium Carbide Market Segmentation:
- By Application
- Acetylene Gas
- Calcium Cyanamide
- Desulfurizing Agent
- Reducing Agent
- Others
- By End-user Industry
- Steel Manufacturing
- Chemical
- Pharmaceutical
- Metal Fabrication
- Construction Material
- Energy & Power
- Others
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Frequently Asked Questions in the Calcium Carbide Market Report
- What is the market size of the calcium carbide industry in 2023?
- In 2023, the market size of calcium carbide is USD 13,914.38 million.
- What will be the potential market valuation for the calcium carbide industry by 2031?
- In 2031, the market size of calcium carbide will be expected to reach USD 19,997.11 million.
- What are the key factors restraining the growth of the calcium carbide market?
- Harmful effects of calcium carbide on human health along with the high cost of raw materials restraining the market growth at the global level.
- What is the dominating segment in the calcium carbide market by application?
- In 2022, the acetylene gas segment accounted for the highest market share in the overall calcium carbide market.
- Based on current market trends and future predictions, which geographical region is growing at the fastest CAGR over the forecast period in the calcium carbide market?
- North America region accounted for the highest CAGR in the overall calcium carbide market.
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