Newark, June 13, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 6.83 Billion in 2023 acetylene gas market will reach USD 11.41 Billion by 2033. The primary driver of the market is the increasing demand for acetylene across various end-use industries, such as chemical manufacturing, metal fabrication, and vehicle manufacturing. Most often used as a fuel gas for brazing, welding, and cutting operations, acetylene gas has a high flame temperature and quick ignition. The growing demand for welding and metal-cutting applications is expected to drive further growth in the acetylene gas market. In addition, the market is being driven by the healthcare industry, which is growing in significance as the market is driven more and more by treating different medical conditions, including hypertension and angina.
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Key Insight of the Acetylene Gas Market
North America is anticipated to expand at the highest CAGR of 7.84% over the projection period.
North America is expected to grow at the highest CAGR of 7.84% over the forecast period. It results from a thriving manufacturing industry that employs goods for various processes like brazing, cutting, and welding. The region's product demand is anticipated to be driven by the expanding need for lightweight materials in the aerospace and automotive industries. Demand in North America is also anticipated to increase due to the increased emphasis on sustainable development and the expanding adoption of energy-efficient technologies.
The chemicals segment is expected to register the highest CAGR of 8.76% over the projected period in the acetylene gas market.
The chemicals segment is anticipated to grow at the highest CAGR of 8.76% in the acetylene gas market. In the chemical industry, acetylene gas is commonly utilized as an intermediate to create a variety of compounds, such as acetic acid, vinyl chloride, and other speciality chemicals. The industry's expansion in the chemical manufacturing sector is anticipated to increase market demand. The market is anticipated to increase due to the demand for products in these applications. Growth in the market is also anticipated to be aided by the growing use of environmentally friendly production techniques and technical developments in the acetylene industry.
The building and construction segment is expected to register the highest CAGR of 8.38% in the acetylene gas market over the projected period.
Over the forecasted period, the building & construction segment is anticipated to grow at the highest CAGR of 8.38% in the acetylene gas market. Brazing, cutting, and welding applications are employed in the building and construction sector, especially in the production of steel and metal structures. The need for acetylene gas in the building and construction sector is anticipated to be driven by the expanding demand for construction activities and the increased adoption of sustainable construction techniques.
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Market Dynamics
Driver: Growing demand from the industry of metalworking
Acetylene is primarily used in heat treating, welding, and oxyacetylene cutting in the metalworking and manufacturing industries. Acetylene can be utilized in metalworking because of its high flame temperature. Oxyacetylene combustion provides fast preheating and piercing, enhancing cutting quality, cut initiation timing, and cutting speed. The acetylene market is also driven by the industry's use of calcium carbide and the metallurgical sector's increasing requirement. Acetylene has a flame temperature of 3090°C, making it appropriate for various applications such as metal welding, brazing, soldering, and cutting.
Challenge: The volatility and hazard of acetylene to the environment
Acetylene is said to be asphyxiating and incredibly unstable. There are significant dangers associated with its strong reaction to airborne pollutants. A high concentration of acetylene may result in death or coma. The safe, top pressure limit for acetylene is believed to be 15 psig. Extremely unstable acetylene can harm the environment and human health if released into the atmosphere. Acetylene is included in Hazard Classes A, B1, and F and is categorized as a regulated product under the Canadian Workplace Hazardous Materials Information System (WHIMS) controlled product rules. Furthermore, handling and safety procedures become more expensive and constitute a barrier because acetylene production and processing require high caution and attention to detail.
Some of the major players operating in the acetylene gas market are:
• Airgas
• China Petroleum and Chemical Corporation
• SINOPEC
• Dow Chemical Company
• Sichuan Vinylon
• BASF SE
• Linde Group
• Toho Acetylene
• Gulf Cyro
• Praxair Technology Inc.
Key Segments cover in the market:
By Application:
• Lamps
• Metal Working
• Chemicals
• Others
By End-use:
• Building & Construction
• Pharmaceutical
• Transportation
• Electric & Electronics
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
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