Acetylene Market to Value at USD 9.3 billion by 2031 with 4.5% CAGR | States Transparency Market Research Inc.

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Nov 16, 2023, 06:30 ET

Demand for acetylene remains relatively stable, driven primarily by its use in welding and cutting processes in the construction and automotive sectors.

WILMINGTON, Del., Nov. 16, 2023 /PRNewswire/ -- The global acetylene market stood at US$ 6.3 billion in 2023 and is projected to reach US$ 9.3 billion in 2031. The global industrial humidifier market is anticipated to expand at a CAGR of 4.5% between 2023 and 2031.

The acetylene market is in flux, with both challenges and opportunities on the horizon. Acetylene, a flammable gas with diverse applications, plays a pivotal role in several industries, including metal fabrication, chemical manufacturing, and welding.

Environmental issues have come to the forefront, with the energy-intensive and greenhouse gas-emitting nature of traditional acetylene production, which in turn is expected to restrain the acetylene market expansion in the near future. Technological advancements are also shaping the market with innovative acetylene generation and storage solutions.

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These advancements improve safety and environmental performance, making acetylene a more attractive option for industries with stringent regulatory requirements. Additionally, the acetylene market demand remains steady due to its use in welding and cutting brazing processes across metals and sectors. Moreover, its role in the chemical industry, particularly in producing various chemicals and plastics, also ensures a stable demand base.

High heat content and precise flame control of acetylene gas make it indispensable in welding, cutting, and metal fabrication processes, where the ability to achieve high temperatures is essential. Furthermore, acetylene is widely employed as a precursor in synthesizing various chemicals in the chemical industry. Safety and handling have been addressed with stringent guidelines and specialized containers to mitigate the risks associated with acetylene gas. This has further solidified its position as the preferred choice in industries that rely on its unique properties.

Acetylene Market Report Scope:

Report Coverage	Details
Forecast Period	2023-2031
Base Year	2021
Size in 2022	US$ 6.3 Bn
Forecast (Value) in 2031	US$ 9.3 Bn
Growth Rate (CAGR)	4.5 %
No. of Pages	320 Pages
Segments covered	By Purity,Form,Production Method,Application,End-use

Key Takeaways of Market Report

Global acetylene market to generate absolute dollar opportunity worth US$ 9.3 billion until 2031.
Global acetylene market from 2023 to 2031 is 4.5%
The global acetylene market is valued at US$ 6.5 billion in 2023.
The global acetylene market stood at US$ 6.3 billion in 2022.

Acetylene Market Market: Growth Drivers

The unique properties of acetylene make it an ideal fuel gas for various welding and metal fabrication applications. Acetylene is commonly used as the fuel gas in oxy-fuel welding and cutting processes. When combined with oxygen in the welding torch, acetylene produces a high-temperature flame, making it practical for melting together or cutting metals. The controlled heat generated by acetylene is essential for achieving solid and clean welds.
Demand for energy, both traditional and renewable, is likely to rise significantly as economies grow and modernize. This drives investments in power generation, transmission, and distribution infrastructure, increasing equipment, materials, and services demand. The energy & power sector requires extensive infrastructure development, including power plants, transmission lines, substations, and renewable energy installations. This drives the demand for equipment construction, engineering, and manufacturing.

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Acetylene Market Market: Regional Landscape

Asia Pacific accounts for major share of the global acetylene business due to rapid industrialization, expansion of construction and automotive sectors, and increase in demand for glass across the region. China and India in Asia Pacific are witnessing substantial growth in the manufacturing and construction sectors, which rely heavily on acetylene for various applications. Asia Pacific's prominence in the acetylene market is evident; however, it also faces the challenge of aligning with global environmental standards. One of the key acetylene market trends is the growing focus on cleaner and sustainable production methods to mitigate the carbon footprint associated with acetylene production.
The automotive sector in Europe, which is experiencing robust growth, depends on acetylene for welding and joining metal components in vehicle manufacturing. These factors collectively fuel the demand for acetylene in the region. Moreover, increasing demand for chemicals and plastics in both domestic and international markets has contributed to the substantial acetylene market share held by the region.

Acetylene Market Market: Key Players

SCG Chemicals Public Company Limited and Denka Company Limited signed a joint venture to operate an acetylene black manufacturing business in Rayong province, Thailand. The joint venture includes establishment of a plant with an annual production capacity of approximately 11,000 metric tons.
Orion Engineered Carbons announced plans to build a production plant for acetylene-based conductive additives in the U.S. for applications in lithium-ion batteries, high-voltage cables, other products for electrification, and the renewable energy industry.

Acetylene Market Market: Segmentation

By Purity
- Up to 98%
- >98%
By Form
- Acetylene Gas
- Acetylene Liquid
By Production Method
- Calcium Carbide
- Hydrocarbon Pyrolysis
- Others
By Application
- Chemical Synthesis
- Welding, Cutting and Heat Treating
- Polyethylene Plastics
- Elastic Textile Fiber
- Brazing
- Perfume
- Synthesis of Vitamins
- Portable Lighting
- Fuel Additive
- Others
By End-use
- Metals
- Automotive and Transportation
- Pharmaceutical
- Plastic
- Textile
- Personal Care & Cosmetic
- Glass
- Residential
- Others
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa

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