Market Size of Acetylene Industry
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 11.68 Million tons |
| Market Volume (2029) | 13.24 Million tons |
| 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 |
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 acetylene market faced setbacks due to COVID-19. Global lockdowns and stringent government regulations led to widespread shutdowns of production hubs. However, the market rebounded in 2021 and is projected to see significant growth in the upcoming years.
- Over the short term, growing demand from the metalworking industry and increasing demand from the chemical sector are the major factors driving the demand for the market studied.
- However, stringent environmental regulations due to the harmful effects of acetylene and alternatives of acetylene in welding and cutting applications are expected to hinder the market's growth.
- Nevertheless, the application of acetylene gas for various scientific research is expected to create new opportunities for the market studied.
- Asia-Pacific region is expected to dominate the market across the world, with the majority of demand coming from China and India.
Acetylene Industry Segmentation
Acetylene, or ethyne, is a colorless and highly flammable gas known for its distinct unpleasant odor. With the chemical formula C₂H₂, it stands as the simplest form of alkyne, a category of hydrocarbons. Due to its high reactivity, acetylene serves crucial roles in diverse industrial and commercial sectors. It's prominently used as a fuel in oxyacetylene welding and metal cutting, and it acts as a primary raw material in producing a wide range of organic chemicals and plastics.
The acetylene market is segmented by application and geography. By application, the market is segmented into metalworking, chemical raw materials, and other applications. The report also covers the market sizes and forecasts for the global acetylene market in 27 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (tons).
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Acetylene Market Size Summary
The acetylene market is poised for growth, driven by its essential applications in metalworking and the chemical industry. Acetylene's high flame temperature makes it a preferred choice for welding, cutting, and soldering, which are crucial in industries such as automotive, aerospace, and metal fabrication. Additionally, acetylene serves as a vital raw material in producing various organic compounds, supporting its demand in the chemical sector. Despite challenges posed by stringent environmental regulations and the availability of alternatives, the market is expected to expand, with significant opportunities arising from its use in scientific research. The Asia-Pacific region, particularly China and India, dominates the market due to its robust industrial activities and increasing demand for chemical intermediates.
The market landscape is characterized by fragmentation, with major players like BASF SE, Praxair Technology Inc., Gulf Cryo, Linde PLC, and Air Liquide actively participating. Recent developments, such as joint ventures and new production facilities, indicate a strategic focus on enhancing production capabilities and exploring new applications, such as in lithium-ion batteries and renewable energy. The market's recovery from the COVID-19 pandemic and its anticipated growth are further supported by the ongoing industrialization and infrastructure development in key regions, particularly in Asia-Pacific, where demand for acetylene is expected to rise significantly over the forecast period.
Acetylene Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Growing Demand from the Metalworking Industry
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1.1.2 Increasing Demand from the Chemical Sector
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1.1.3 Other Drivers
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1.2 Restraints
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1.2.1 Stringent Environmental Regulations Due to the Harmful Effects of Acetylene
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1.2.2 Alternatives of Acetylene in Welding And Cutting Applications
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1.2.3 Other Restraints
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1.3 Industry Value-Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Volume)
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2.1 Application
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2.1.1 Metal Working
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2.1.2 Chemical Raw Materials
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2.1.3 Other Applications
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2.2 Geography
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2.2.1 Asia-Pacific
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2.2.1.1 China
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2.2.1.2 India
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2.2.1.3 Japan
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2.2.1.4 South Korea
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2.2.1.5 Malaysia
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2.2.1.6 Thailand
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2.2.1.7 Indonesia
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2.2.1.8 Vietnam
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2.2.1.9 Rest of Asia-Pacific
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2.2.2 North America
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2.2.2.1 United States
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2.2.2.2 Canada
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2.2.2.3 Mexico
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2.2.3 Europe
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2.2.3.1 Germany
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2.2.3.2 United Kingdom
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2.2.3.3 France
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2.2.3.4 Italy
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2.2.3.5 Spain
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2.2.3.6 Nordic Countries
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2.2.3.7 Turkey
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2.2.3.8 Russia
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2.2.3.9 Rest of Europe
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2.2.4 South America
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2.2.4.1 Brazil
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2.2.4.2 Argentina
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2.2.4.3 Colombia
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2.2.4.4 Rest of South America
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2.2.5 Middle-East and Africa
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2.2.5.1 Saudi Arabia
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2.2.5.2 Qatar
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2.2.5.3 United Arab Emirates
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2.2.5.4 Nigeria
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2.2.5.5 Egypt
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2.2.5.6 South Africa
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2.2.5.7 Rest of Middle-East and Africa
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Acetylene Market Size 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.
