Acetylene Market worth USD 7.34 billion by 2024

Acetylene MarketAnalysis Size, Growth rate and Overview:

The Acetylene market is valued at USD 5.23 billion in 2018 and is expected to reach USD 7.34 billion by 2024 at a CAGR of 3.56% from 2018 to 2024.

Acetylene may be generated by the chemical reaction between calcium carbide and water. Acetylene may also be generated by raising the temperature of various hydrocarbons to the point where their atomic bonds break, or crack, in what is known as a thermal cracking process. Acetylene is highly explosive, it must be stored and handled with great care. When it is transported through pipelines, the pressure is kept very low and the length of the pipeline is very short.When acetylene must be pressurized and stored for use in oxy-acetylene welding and metal cutting operations, special storage cylinders are used. The cylinders are filled with an absorbent material, like diatomaceous earth, and a small amount of acetone. When acetylene is liquefied, compressed, heated, or mixed with air, it becomes highly explosive. As a result, special precautions are required during its production and handling.

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Acetylene MarketKey Drivers, Challenges, and Opportunities:

The common use of acetylene is as a raw material for the production of various organic chemicals including the preparation of Polyurethane and polyester plastics, which is the major driver with the increase in plastic applications. The second most common use is as the fuel component in oxy – acetylene welding and metal cutting, which is growing with the rapid increase in industrialization. Some commercially useful acetylene compounds include acetylene black, which is used in certain dry-cell batteries and acetylenic alcohols, which are used in the synthesis of vitamins leads to increase in the market growth. However, the market growth declines due to the high storage and operational cost.

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Acetylene Market– Regional Presence:

Geographically, Asia Pacific is the dominant and fastest growing market due to increasing industrial investments in the emerging economies of India and China in the forecast period and expected to continue in future. North America is the second largest market due to the development of industrialization. Europe is expected to grow at a sluggish rate owing to increasing number of environmental regulations and saturation in several end user industries.

Some of the Key Players Profiled in this Acetylene Market Report are:

Linde AG, Airgas, Toho Acetylene, Xinju Chemicals, Gulf Cyro, BASF, the Dow Company, SINOPEC, ILMO, Xinlong Group, Lutianhua, Ho Tung Chemicals, Markor, JinHong Gas, JiuceGrou and Praxair Inc. among several others.

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