Global Acetylene Gas Market, 2015-2020: By drivers and restrain, Technology, Application, Size & Share
Deerfield Beach, FL -- (SBWIRE) -- 08/28/2017 -- Zion Market Research has published a new report titled "Acetylene Market for Chemical Production, Welding & Cutting and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 – 2020." According to the report, global demand for acetylene gas was valued at around USD 5.0 billion in 2014 and is expected to reach USD 6.0 billion in 2020, growing at a CAGR of around 3% between 2015 and 2020. In terms of volume, the global acetylene gas market stood at 500.0-kilo tons in 2014.
Acetylene is also known as ethyne. It is a highly flammable gas obtained from calcium carbide. Acetylene is manufactured by partial combustion of methane. Acetylene gas is also obtained as a byproduct of the reaction between calcium carbide and water. Acetylene gas is also produced from hydrocarbon sources such as naphtha, crude oil and coal among others. It is also obtained as a side product in the ethylene stream from cracking of hydrocarbons. Acetylene is colorless and extremely explosive. Acetylene is mainly consumed as a fuel and chemical building block. It is also used in welding and metal cutting and many other brazing applications.
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Acetylene market is primarily driven by strong demand from China. China accounted for large volume consumption of acetylene. Strong industrial growth in China has resulted in the rapid growth of acetylene in China. Acetylene is primarily used as chemical building block in the manufacture of 1,4-butanediol (BDO). Acetylene is also used in the manufacturing of other acetylenic chemicals such as vinyl ethers, other acetylenic alcohols, N-vinyl-2-pyrrolidone, butynediol. However, volatile raw material prices are expected to be the major concern for the industry participants. However, an effort towards the development of bio-based acetylene gas is expected to provide growth opportunity to industry participants.
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Chemicals, welding & cutting and other applications are key application markets for the acetylene. Demand for acetylene in chemicals production was dominating the global acetylene market with over 60% share in total volume consumption in 2014. 1,4-butanediol accounted for over 90% share in total volume consumed among all chemicals in 2014. Welding and cutting were the second largest segment for acetylene gas in 2014.
Asia Pacific region was the leading regional market for acetylene gas with over 85% share in total volume consumed in 2014. China accounted for a huge share of Asia Pacific. Growing industrial investments in the emerging economies like China is a major driving factor that contributed to the growth of acetylene gas market in the region. North America, Europe, Latin America and Middle East & Africa accounted for very small share of the global acetylene market.
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Some of the key industry participants in global acetylene market include, Air Products and Chemicals Inc., Linde AG, Airgas, Toho Acetylene, Xinju Chemicals, Gulf Cyro, BASF, the Dow Company, SINOPEC, ILMO, Xinlong Group, Lutianhua, Ho Tung Chemicals, Markor, JinHong Gas, Jiuce Grou and Praxair Inc. among several others.
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