Press release
Acetylene Market Size, Global Analytical Overview, Key Players, Regional Demand, Trends and Forecast To 2033
Acetylene Global Market
The Business Research Company's Acetylene Global Market Report 2024 identifies growing applications of acetylene across various industries as the major driver for the Acetylene market's growth in the forecast period. Acetylene is used as a raw material for the production of different organic chemicals, including 1,4-butanediol, which is widely used in the preparation of polyurethane and polyester plastics. Acetylene is also used as the fuel in oxyacetylene welding and metal cutting.
The acetylene market size has grown strongly in recent years. It will grow from $10.81 billion in 2023 to $11.6 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to growing industrialization, booming infrastructure development, growing construction industry, demand for chemical manufacturing, .
The acetylene market size is expected to see strong growth in the next few years. It will grow to $15.46 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to growing renewable energy, growing aerospace and defense industry, expanding the electronics industry, growing demand for acetylene for medical applications. Major trends in the forecast period include digitization and automation, hybrid welding technologies, recycling acetylene gas, acetylene substitutes, green hydrogen production.
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Major competitors in the Acetylene market are BASF SE, Gulf Cryo, Linde PLC, Praxair Inc., Sinopec, Chengdu Xinju Chemical Co. Ltd., ILMO Products Company, Suzhou Jinhong Gas Co. Ltd., Toho Acetylene Co. Ltd., Xinglong Group, Xinju Chemical Co. Ltd.
A key trend in the Acetylene market includes IoT (Internet of Things) technologies. The data obtained through these devices is processed, analyzed, and interpreted by plant managers and senior-level management to improve quality and achieve optimum production levels. For example, smart systems give information on the working condition and performance of chemical reactors with embedded software and analytics tools to notify plant operators and managers of possible machine breakdowns. Major industrial gas manufacturers adopting IoT technology include Praxair-Linde and Air Products.
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The Acetylene market is segmented -
1) By Type: Calcium Carbide Production, Thermal Cracking Process
2) By Application: Automotive, Metal fabrication, Aerospace, Pharmaceutical, Other Applications
3) By Sales Channel: Direct Company Sale, Direct Import, Distributors & Traders
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Acetylene market.
The Business Research Company's "Global Acetylene Market Report 2024" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Acetylene Market Include:
1. Executive Summary
2. Acetylene Market Characteristics
3. Acetylene Market Trends And Strategies
4. Acetylene Market - Macro Economic Scenario
5. Global Acetylene Market Size and Growth
……
31. Global Acetylene Market Competitive Benchmarking
32. Global Acetylene Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Acetylene Market
34. Acetylene Market Future Outlook and Potential Analysis
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