Dublin, June 04, 2024 (GLOBE NEWSWIRE) -- The "Global Acetylene Gas Market Report by Production Method, Application, and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The latest industry analysis reveals a promising expansion in the global acetylene gas market, with its valuation projected to climb from US$ 6.0 Billion in 2023 to US$ 7.5 Billion by 2032. This growth trajectory, registering a compound annual growth rate (CAGR) of 2.51% during the forecast period of 2023-2032, is underpinned by diverse applications across multiple sectors including chemicals, metalworking, and pharmaceuticals.
Key market drivers identified include a robust chemical industry and widespread industrial advancement worldwide. Acetylene gas, known for its high flame temperature, has become integral in metalworking processes such as oxyacetylene cutting, welding, and brazing, largely due to its enhanced efficiency over conventional oxygen-based fuels. Additionally, its role in synthesizing chemicals and its use in materials processing for carbon coating further solidify its position in the market.
Market Segmentation Insights
The market report segments the acetylene gas industry by production method, notably calcium carbide and hydrocarbon pyrolysis, and by application, encompassing chemical synthesis, welding and cutting, metal fabrication, and other sectors. Geographically, the analysis spans across several key regions including North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa.
Market Dynamics
Additional factors propelling the market growth are highlighted, such as significant research and development efforts directed towards producing acetylene gas from eco-friendly sources like biogas. This reflects the industry’s move towards sustainability and innovation.
Industry Competitive Landscape
The global acetylene gas market witnesses a competitive environment where industry players such as Airgas, Inc., BASF SE, and Linde Plc, among others, play key roles. These entities are continuously evolving through strategic initiatives and advancements, ensuring their market presence remains strong.
Conclusion and Prospects
In light of its extensive application across varied industries and ongoing technological advancements, the acetylene gas market is set to continue along its growth path. The forecast period up until 2032 looks optimistic as market forces and innovations shape the future of this essential industrial resource.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 146 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $6 Billion |
| Forecasted Market Value (USD) by 2032 | $7.5 Billion |
| Compound Annual Growth Rate | 2.5% |
| Regions Covered | Global |
Companies Featured
- Airgas Inc.
- BASF SE
- China Petroleum and Chemical Corporation
- Gulf Cyro
- Hebei Xingyu Chemical Co. Ltd.
- Ilmo Products Company
- Linde Plc
- Praxair Inc.
- Shandong Xinlong Group Co. Ltd.
- Suzhou Jinhong Gas Co. Ltd.
- Dow Chemical Company
- Toho Acetylene Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/7lzh8o
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