Acetylene Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR (2024 - 2029) | 2.54 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Acetylene Market Analysis
The Acetylene Market size is estimated at 11.68 Million tons in 2024, and is expected to reach 13.24 Million tons by 2029, growing at a CAGR of 2.54% during the forecast period (2024-2029).
The COVID-19 pandemic negatively impacted the demand for acetylene. The lockdown in various countries led to supply chain constraints that significantly obstructed the expansion of the industry. However, the market recovered last year, and it is expected to grow at a significant rate during the forecast period.
- The major factors driving the market studied include the continuous demand in global metalworking industries and increasing demand from the chemical industry.
- However, stringent environmental regulations due to the harmful effects of acetylene at higher concentrations are expected to act as a restraint in the market. Moreover, the alternatives of acetylene in welding and cutting applications may also hinder market growth.
- Furthermore, the application of acetylene gas for various scientific research is likely to act as an opportunity for the market studied over the forecast period.
- The Asia-Pacific dominated the market across the world, with the largest consumption from countries like China and India.
Acetylene Market Trends
The Metalworking Industry is Expected to Dominate the Market
- Acetylene is chiefly used for oxyacetylene cutting, heat treating, and welding. Bulk acetylene is also used as a raw material in the chemical processing industry to produce organic compounds, including acetaldehyde, acetic acid, and acetic anhydride.
- Due to its triple-bond structure, acetylene has the highest flame temperature. Acetylene achieves a flame temperature of 3090°C (5594°F), releasing 54.8 kJ/liter of energy when it undergoes combustion with oxygen. This highest flame temperature allows acetylene usage in metalworking applications like cutting, welding, soldering, and brazing.
- The above mentioned applications of acetylene are used in many end-user industries like automotive, aerospace, metal fabrication, pharmaceuticals, glass, and others.
- According to the World Steel Association, global steel demand contracted by 2.3% year-on-year in 2022. However, it is expected to recover by 1% in 2023. Inflation, US monetary tightening, China's slowdown, and Russia's invasion of Ukraine all had an adverse impact on the industry, and high energy prices, rising interest rates, and waning confidence caused demand forecasts to be lower, which caused a slowdown in the steel manufacturing sector.
- Furthermore, according to the World Steel Association, global steel production in January 2023 stood at 145.3 million metric tons, a decline of 3.3% annually. Africa produced 1.2 million metric tons in January 2023, down 4.9% annually. Asia and Oceania produced 107.5 million metric tons, down 0.2%. The EU (27) produced 10.3 million tons, down 15.2%. The Middle East produced 3.8 million metric tons, up 19.7%. North America produced 9.1 million metric tons, down 5.6%. Russia and the rest of the CIS plus Ukraine produced 6.5 million metric tons, down 24.9%. Meanwhile, South America produced 3.6 million metric tons, down 0.6% during the same period.
- Moreover, according to the International Aluminum Association, in 2022, total global primary aluminum production amounted to 68.461 million metric tons, compared to 67.092 million metric tons in 2021. In addition, North American aluminum demand grew by 4.8% in 2022.
- The United States is the world's fifth-largest copper producer, with 48 million tons of copper reserves. Moreover, according to the US Geological Survey, in 2022, the United States produced some 1.3 million metric tons of copper from mines.
- With growing metalworking applications, the market for acetylene is projected to increase over the forecast period.
The Asia-Pacific Region is Expected to Dominate the Market
- The Asia-Pacific region dominated the global market share. With growing transportation activities in countries like China and Japan, the use of acetylene (metalworking) is increasing in the region.
- Acetylene is also used to produce many essential chemicals, such as vinyl chloride monomer, acrylonitrile, vinyl acetate, vinyl ether, acetaldehyde, 1,2-dichloroethane, 1,4-butynediol, acrylate esters, polyacetylene, and polydiacetylene. Asia-Pacific has the most significant market for the chemical industry, which shows enormous scope for the acetylene market.
- China is a hub for chemical processing, accounting for most of the chemical production globally. With the growing global demand for various chemicals, the demand for intermediates, such as acetic acid, from this sector is expected to increase significantly during the forecast period.
- The government of China is also focusing on developing eco-friendly means of producing steel. According to the guidance on promoting high-quality development of the iron and steel industry issued by China's Ministry of Industry and Information Technology at the end of 2021, the proportion of EAF steel output was to be increased to more than 15-20% of total crude steel output, while the scrap usage ratio will reach 30% over the coming years.
- According to the US Geological Survey, China generated 1.9 million metric tons of copper from mines in 2022. This result shows a slight reduction from the previous year. Moreover, there are many operating copper mines in the country. For instance, the Jiama Mine is a surface and underground mine in Tibet owned by China Gold International Resources. In 2021, the mine was expected to produce 86.4 thousand tons of copper. The mine will likely be in operation by 2050 and be the key driver for the growth of the construction sector in China.
- According to the Indian government report, steel exports in the country in 2022 registered a fall of around 44% and reached 10.37 MT in 2022 compared to 18.5 MT a year ago. Similarly, at 4.77 MT, the imports were 21% higher in 2022 than at 3.94 MT in 2021. India's finished steel consumption is anticipated to increase to 230 MT by 2030-31 from 86.3 MT in FY22. Thus, increased crude steel production over the coming period is likely to increase demand for the acetylene market in the country.
- With the growth of various industries in the region, the market for acetylene is likely to surge over the forecast period.
Acetylene Industry Overview
The acetylene market is fragmented in nature due to the presence of major companies, including (not in any particular order) BASF SE, Praxair Technology Inc., Gulf Cryo, Linde PLC, and Air Liquide, among others.
Acetylene Market Leaders
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BASF SE
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Praxair Technology, Inc.
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Gulf Cryo
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Linde plc
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Air Liquide
*Disclaimer: Major Players sorted in no particular order
Acetylene Market News
- October 2022: SCG Chemicals Public Company Limited and Denka Company Limited signed a joint venture agreement to operate an acetylene black manufacturing business in Rayong province, Thailand. The joint venture is constructing the plant with an annual production capacity of approximately 11,000 metric tons, and it is expected to commence by 2025.
- May 2022: Orion Engineered Carbons announced plans to build a production plant for acetylene-based conductive additives in the United States for applications in lithium-ion batteries, high-voltage cables, other products for electrification, and the renewable energy industry.
Acetylene Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Growing Preference for Acetylene as a Fuel Gas
- 4.1.2 Increasing Demand from the Chemical Industry
- 4.1.3 Other Drivers
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4.2 Restraints
- 4.2.1 Acetylene Alternatives for Welding and Cutting
- 4.2.2 Health Hazards Of Oxy-acetylene Cutting And Welding
- 4.3 Industry Value-Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Volume)
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5.1 By Application
- 5.1.1 Metal Working
- 5.1.2 Chemical Raw Materials
- 5.1.3 Other Applications
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5.2 By Geography
- 5.2.1 Asia-Pacific
- 5.2.1.1 China
- 5.2.1.2 India
- 5.2.1.3 Japan
- 5.2.1.4 South Korea
- 5.2.1.5 Rest of Asia-Pacific
- 5.2.2 North America
- 5.2.2.1 United States
- 5.2.2.2 Canada
- 5.2.2.3 Mexico
- 5.2.3 Europe
- 5.2.3.1 Germany
- 5.2.3.2 United Kingdom
- 5.2.3.3 Italy
- 5.2.3.4 France
- 5.2.3.5 Rest of Europe
- 5.2.4 South America
- 5.2.4.1 Brazil
- 5.2.4.2 Argentina
- 5.2.4.3 Rest of South America
- 5.2.5 Middle East and Africa
- 5.2.5.1 Saudi Arabia
- 5.2.5.2 South Africa
- 5.2.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%)**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 Air Liquide
- 6.4.2 Air Products And Chemicals Inc.
- 6.4.3 Asia Technical Gas Co Pte Ltd.
- 6.4.4 Axcel Gases
- 6.4.5 BASF SE
- 6.4.6 Butler Gas Products
- 6.4.7 Gruppo SIAD
- 6.4.8 Gulf Cryo
- 6.4.9 Jinhong Gas Co. Ltd.
- 6.4.10 Koatsu Gas Kogyo Co. Ltd.
- 6.4.11 Linde PLC
- 6.4.12 Nippon Sanso Holdings Corporation
- 6.4.13 NOL Group
- 6.4.14 Pune Air Products
- 6.4.15 TOHO ACETYLENE Co.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 The Growing Demand For Acetylene In Glass Manufacturing
Acetylene Industry Segmentation
Acetylene (also called ethyne) is an alkyne organic compound and a colorless, inflammable gas widely used as a fuel in oxyacetylene welding and cutting of metals and as a raw material in synthesizing many organic chemicals and plastics.
The acetylene market is segmented by application and geography. On the basis of application, the market is segmented into metalworking, chemical raw materials, and other applications. The report also covers the market size and forecasts for the acetylene market in 15 countries across major regions. It offers market size and forecasts in terms of volume (tons) for all the above segments.
| By Application | Metal Working | |
| Chemical Raw Materials | ||
| Other Applications | ||
| By Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| By Geography | North America | United States |
| Canada | ||
| Mexico | ||
| By Geography | Europe | Germany |
| United Kingdom | ||
| Italy | ||
| France | ||
| Rest of Europe | ||
| By Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| By Geography | Middle East and Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle East and Africa |
Acetylene Market Research FAQs
How big is the Acetylene Market?
The Acetylene Market size is expected to reach 11.68 million tons in 2024 and grow at a CAGR of 2.54% to reach 13.24 million tons by 2029.
What is the current Acetylene Market size?
In 2024, the Acetylene Market size is expected to reach 11.68 million tons.
Who are the key players in Acetylene Market?
BASF SE, Praxair Technology, Inc., Gulf Cryo, Linde plc and Air Liquide are the major companies operating in the Acetylene Market.
Which is the fastest growing region in Acetylene Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Acetylene Market?
In 2024, the Asia Pacific accounts for the largest market share in Acetylene Market.
What years does this Acetylene Market cover, and what was the market size in 2023?
In 2023, the Acetylene Market size was estimated at 11.38 million tons. The report covers the Acetylene Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Acetylene Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Acetylene Industry Report
The Global Acetylene Market is segmented by application, including metal working, chemical raw materials, and other applications, and by geography, covering regions such as Asia-Pacific, North America, Europe, South America, the Middle East, and Africa. The market analysis includes a detailed industry report that provides insights into market size and market share. The industry report also offers a comprehensive market overview, highlighting key market trends and market segments.
According to the market research, the market forecast indicates a positive growth rate for the acetylene market. The market growth is driven by various factors, including the increasing demand for metal working and chemical raw materials. The industry analysis reveals that the market leaders are focusing on expanding their market value and enhancing their market data to stay competitive.
The industry information and industry outlook provided in the report example offer valuable insights into the future of the acetylene market. The market review and market predictions suggest that the market segmentation will continue to evolve, with significant contributions from different regions. The market overview highlights the importance of industry statistics and industry trends in understanding the market dynamics.
The report pdf includes detailed industry research and industry sales data, which are crucial for making informed business decisions. The market outlook and market forecast provide a clear picture of the expected market growth and market value. The industry reports and industry size information offer a comprehensive view of the market, helping stakeholders to identify key opportunities and challenges.
Overall, the acetylene market is expected to experience steady growth, supported by robust industry research and market data. The market segmentation and market trends indicate that the industry will continue to expand, driven by the increasing demand for acetylene in various applications. The industry reports and market review provide a thorough understanding of the market, ensuring that stakeholders are well-informed about the latest developments and future prospects.
