Press release
Acetylene Market Report 2024: Strategies And Recent Developments | BASF SE, Gulf Cryo, Linde plc, Praxair Inc., Sinopec, Chengdu Xinju Chemical Co. Ltd
Acetylene Market Size
The Business Research Company offers in-depth market insights through Acetylene Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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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Market Segmentation:
The main types of acetylene include calcium carbide production and the thermal cracking process. Thermal cracking is a refining process in which heat and pressure are used to break down, rearrange, or combine hydrocarbon molecules. Acetylene is used in automotive, metal fabrication, aerospace, pharmaceuticals, and other sectors. The various sales channels include direct company sales, direct imports, and distributors and traders.
Major Driver - Growing Applications With Acetylene Market
The acetylene market is expected to be driven by the growing applications of acetylene across various industries. 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.
Competitive Landscape:
Major companies operating in the acetylene market include 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, Airgas, Ho Tung Chemical, Markor, Lutianhua, Jiuce Group, JinHong Gas, Xinlong Group, Dow Company, Dongxiang Gas, Sichuan Vinylon, Air Products and Chemicals Inc, Air Liquide, Linde, Air Products and Chemicals, Matheson Gas, Messer Group, SIG Gases Berhad, SOL Spa, Cee Kay Supply, Mississippi Welders Supply, Red Ball Oxygen, Hohman Plating & Manufacturing, Roberts Oxygen Company, Southern Gas & Supply, CO2 Masters, Rocky Mountain Air Solutions, Spec Air, Purity Cylinder Gases, The Archer Group, Welders Supply and Equipment, Metro Welding Supply, Delille Oxygen Company, Cryogas, A-OX Welding Supply, Cryostar Industries, Complete Welders Supply, Penn-Air & Hydraulics Corp.
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Top Trend - IOT (Internet Of Things) Integration In Acetylene Market
Many chemical manufacturers are adopting IoT (Internet of Things) technologies to connect equipment and smart devices to garner real-time insights and locate gaps in the manufacturing process. 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.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Acetylene Market Characteristics
3. Acetylene Market Trends And Strategies
4. Acetylene Market - Macro Economic Scenario
5. Acetylene Market Size And Growth
…..
27. Acetylene Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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