Research Nester published a report titledAcetylene Market: Global Demand Analysis Opportunity Outlook 2031which delivers detailed overview of the global acetylene market in terms of market segmentation by application, end-user industry, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global acetylene market is anticipated to attain aCAGR of ~2% over the forecast period, i.e., 2022 2031. The market is segmented on the basis of application into welding, chemical raw materials, portable lighting, and others, out of which, the welding segment is anticipated to hold the notable share over the forecast period owing to the high flame temperature of acetylene. The high flame temperature is ideal for welding, which is estimated to boost the segment growth.
In Q4 2021, USA current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and some signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006. Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches to peak 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point, pushing consumers to spend less on the products and services and save more.
On the other hand, the worst is expected to be seen in the European countries especially during 2022 winters. The energy and gas crises has already started grappling the region where in many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage, created by Russian-Ukraine conflict.
Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.
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The global acetylene market is anticipated to witness growth on the back of increasing application of acetylene, such as, manufacturing new chemicals, metal work, and others. Acetylene gas produces a high temperature flame on combustion with oxygen, which makes it suitable for welding metals. Moreover, the growing demand for acetylene in the automotive industry is estimated to boost the market growth. Furthermore, the increasing manufacturing and sales of automobiles, is also anticipated to boost the market growth over the forecast period.According to the data by the International Energy Agency (IEA), in 2019, 25 million cars were sold in China, 17 million in United States, 17 million in European Union, and 21 million cars were sold in the rest of the world.
On the basis of geographical analysis, the global acetylene market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East Africa region. The market in the Asia Pacific region is estimated to experience a noteworthy growth over the forecast period on account of the presence of major automobile manufacturers in the region. Moreover, the growing chemical sector in the APAC region is further anticipated to propel the regional market growth.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth opportunity analysis, market players competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
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Growing Application of Acetylene in Automotive Industry to Boost the Growth of the Market
Acetylene or ethyne has a triple bond between the two carbon atoms, which is responsible for the high flame temperature on combustion. This is why, acetylene gas is used for welding in the automobiles, aircrafts, and other metal work. This factor is primarily anticipated to drive the market growth.
However, highly unstable nature of acetylene and presence of toxic impurities in acetylene gas are expected to operate as key restraint to the growth of global acetylene market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global acetylene market which includes company profiling of Linde plc, Gulf Cryo, The Messer Group GmbH, Akzo Nobel N.V., BASF SE, AmeriGas Partners, L.P., Airgas USA LLC, Ferrellgas Partners, L.P., Praxair, Inc., and China Petroleum Chemical Corporation. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global acetylene market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
