Acetylene Market Size Worth USD 6.09 Billion in 2032 | Emergen Research

Vancouver, Jan. 02, 2024 (GLOBE NEWSWIRE) -- The global acetylene market, valued at USD 3.60 Billion in 2022, is poised to experience robust growth with a projected rapid revenue CAGR of 5.4% during the forecast period. Key drivers include the growing demand for acetylene as a fuel gas and its pivotal role in the metalworking sector globally.

Acetylene, widely used in manufacturing industries for brazing, welding, and cutting, plays a crucial role in gas welding, employing oxygen and acetylene gas for various purposes. The oxyacetylene welding technique, requiring high temperatures achieved by combining acetylene and oxygen gas, is vital for welding and cutting metals and alloys. Additionally, the rising demand for acetylene in chemical production, particularly as a raw material for synthesizing organic compounds like 1,4-butanediol, is propelling market growth.

Challenges exist, with the harmful impacts of acetylene at high concentrations being a key restraint. Inhalation exposure in the workplace, particularly during chemical synthesis processes, poses health risks. Despite its significance in industrial processes, acetylene is considered a serious fire and explosion hazard. A notable trend in the acetylene market is its use in scientific investigations. Researchers are exploring acetylene gas production as a potential alternative fuel, considering its renewable nature compared to non-renewable fossil fuels. Acetylene's role in power transformer monitoring using Dissolved Gas Analysis (DGA) is gaining attention, providing insights into electrical issues.

Thermal Cracking Process Segment Dominates: In 2022, the thermal cracking process segment held the largest revenue share in the global acetylene market. This dominance is attributed to sustainable chemical production methods, wherein acetylene is produced through the thermal cracking of hydrocarbons. Hydrocarbon Pyrolysis Production on the Rise: The hydrocarbon pyrolysis production segment is expected to witness a moderately fast revenue growth rate during the forecast period. This growth is attributed to the focus on sustainable energy transitions and resource efficiency.

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Chemical Synthesis Leads in Revenue Share: The chemical synthesis segment is anticipated to capture a significantly large revenue share in the global acetylene market. Acetylene's versatility and controlled reactivity make it a valuable tool in various synthetic applications, including the production of solvents, vitamins, and additives for polymers. Metal Working Gains Momentum: The metal working segment is expected to register a steadily fast revenue growth rate. Acetylene's high temperature performance in industrial operations, especially in metal cutting and welding, contributes to its increasing demand.

Automotive Sector Takes the Lead: The automotive segment is projected to account for the largest revenue share in the global acetylene market, driven by the increasing durability of acetylene. Carbon black, derived from acetylene decomposition, finds applications as a filler in plastics, rubber, and automotive paints, enhancing functionality and color. Chemical Industry Witnesses Fast Growth: The chemical industry segment is expected to register the fastest revenue growth rate, fueled by the growing application of acetylene in chemical synthesis. Acetylene plays a key role in the production of inorganic chemicals and vitamins, contributing to various chemical industry uses.

Asia Pacific Leads Market Share: The Asia Pacific market dominated the global acetylene market in 2022, driven by the adoption of sustainable production methods. Notable advancements in acetylene production from coal in India and collaborations among major producers are contributing to market growth in the region.

North America Shows Fast Growth: The North America market is poised to register the fastest revenue growth rate, with increasing investments in acetylene production and infrastructure. Major players like Air Liquide, BASF SE, Linde PLC, and Praxair Technology contribute to meeting the rising demand in metalworking, chemical, and automotive sectors.

Europe Holds Considerable Share: The Europe market is expected to account for a considerably large revenue share, driven by the rising demand for acetylene in the metalworking sector. Research projects funded by the European Commission, such as the GASGOLD initiative, focus on enhancing the catalytic processes for acetylene synthesis. As the global acetylene market continues to evolve, industry stakeholders are keenly observing advancements in sustainable production methods, application innovations, and regional collaborations to capitalize on emerging opportunities.

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Scope of Research

Major Companies and Competitive Landscape

The global acetylene market is fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective acetylene solutions in the market.
Some major players included in the global acetylene market report are:

• Linde plc
• Sichuan Vinylon
• BASF SE
• Dow
• DuPont
• Xinjiang Shanzhi Education Technology Co., Ltd.
• Airgas, Inc.
• Gulf Cryo
• ILMO Products Company
• Fujian Jiuce Group Co., Ltd.
• NIPPON SANSO HOLDINGS CORPORATION
• Axcel Gases
• Air Products and Chemicals, Inc.
• Air Liquide India
• Asia Technical Gas Co Pte Ltd.
• Jinhong Gas Co., Ltd.
• KOATSU GAS KOGYO CO., LTD.
• NOL Group
• TOHO ACETYLENE Co.
• HEBEI XINGYU CHEMICAL CO., LTD.

Strategic Development

• On 25 May 2023, Transform Materials LLC. and Denka Company Limited signed a multi-year facility development and installation agreement to construct an on-site solution that uses green chemistry to produce the first-ever Carbon Dioxide (CO2)-free acetylene. Denka plans to invest USD 623 million as a part of Mission 2030 to cut CO2 emissions by 60% compared to fiscal 2013. The company is also moving forward with portfolio transformation by putting Transform Materials' green technologies to use and setting up a low-carbon manufacturing process.
• On 5 May 2022, Orion Engineered Carbons, a specialty chemical company, announced its plans to construct the first conductive additives plant in the U.S. based on acetylene. The building of this acetylene-based conductive additives plant is expected to propel the global shift to electrification and renewable energy by serving as a vital link in the value chain for products such as high-voltage cables and lithium-ion batteries. A long-term deal for acetylene supply from a nearby site held by Equistar Chemicals LP, a LyondellBasell subsidiary, will support Orion's proposed factory in La Porte, Texas, south of Houston.

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For the purpose of this report, Emergen Research has segmented the global acetylene market on the basis of type, sales channel, application, end-use industry, and region:

• Type Outlook (Revenue, USD Billion; 2019-2032)
  • Calcium Carbide Production
  • Thermal Cracking Process
  • Hydrocarbon Pyrolysis Production
• Sales Channel Outlook (Revenue, USD Billion; 2019-2032)
  • Direct Company Sale
  • Direct Import
  • Distributors and Traders
• Application Outlook (Revenue, USD Billion; 2019-2032)
  • Chemical Synthesis
  • Metal Working
  • Welding and Cutting
  • Carbon Coatings
  • Acetylic Alcohols
  • Others
• End-use Industry Outlook (Revenue, USD Billion; 2019-2032)
  • Chemical Industry
  • Glass and Material Processing Industry
  • Aerospace
  • Automotive
  • Pharmaceuticals
  • Others
• Regional Outlook (Revenue, USD Billion; 2019-2032)
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Benelux
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Turkey
    • Rest of Middle East & Africa

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