Acetylene Global Market Report 2024

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 observed during the historical period can be credited to the increasing pace of industrialization, significant advancements in infrastructure development, a thriving construction industry, and the escalating demand within 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 anticipated growth in the forecast period is expected to be driven by the expansion of renewable energy sources, the burgeoning aerospace and defense industry, the continuous expansion of the electronics sector, and the increased demand for acetylene in various medical applications. Notable trends expected during this period involve digitization and automation, the development of hybrid welding technologies, the implementation of acetylene gas recycling, exploration of acetylene substitutes, as well as the advancement of green hydrogen production.

The acetylene market's growth is anticipated due to the increasing applications of acetylene across diverse industries. Acetylene serves as a crucial raw material in the production of various organic chemicals, including 1,4-butanediol, extensively used in the manufacturing of polyurethane and polyester plastics. Moreover, acetylene finds utility as a primary fuel in oxyacetylene welding and metal cutting processes.

The primary methods for producing acetylene encompass calcium carbide production and the thermal cracking process. Thermal cracking is a refining technique that employs heat and pressure to break down, reconfigure, or combine hydrocarbon molecules. Acetylene finds applications across various industries, including automotive, metal fabrication, aerospace, pharmaceuticals, and more. Sales channels for acetylene involve direct company sales, direct imports, as well as distribution through intermediaries and traders.

The acetylene market research report is one of a series of new reports that provides acetylene market statistics, including acetylene industry global market size, regional shares, competitors with an acetylene market share, detailed acetylene market segments, market trends and opportunities, and any further data you may need to thrive in the acetylene industry. This acetylene market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The anticipated growth of the acetylene market is largely driven by the increasing demand within construction activities. Construction activities encompass a broad spectrum of tasks involved in creating structures, infrastructure, and physical facilities, which involves planning, design, construction, and ongoing maintenance of various projects. Acetylene plays a significant role in these activities, specifically for welding, cutting, melting, and joining metal components. It is commonly used in tasks like joining steel beams and cutting through steel pipes and structural elements, particularly in renovation or demolition projects within the construction industry. For instance, in 2021, as reported by FMI (Fails Management Institute) Corporation, a U.S.-based consulting and investment banking firm, there was an 18% growth in investment reaching $111 billion in multi-family residential construction spending activities. Projections indicate a further increase to $136 billion by 2025 for investments in multi-family residential construction activities. This growth in construction activities, particularly in the residential sector, is a key driver behind the expanding demand for acetylene in the market.

Strict safety regulations linked to the manufacturing and transportation of helium gas have significantly impeded the market. Helium and similar substances pose toxicity and hazards under extreme temperatures and pressures. Companies operating in this industry are required to heavily invest in equipment, technologies, and processes to control and mitigate toxic levels and chemical concentrations. As a result, these regulations have augmented the operational costs for companies within this industry. Consequently, this increase in costs restricts the capacity for investments aimed at introducing new products and expanding into fresh markets, thereby impacting the growth of the market.

Numerous chemical manufacturers are embracing IoT (Internet of Things) technologies to interconnect equipment and smart devices, allowing for the real-time collection of insights and identification of potential gaps within the manufacturing process. The data obtained from these devices is then processed, analyzed, and interpreted by plant managers and senior-level management to enhance product quality and achieve optimal production levels. For instance, intelligent systems provide information regarding the operational status and performance of chemical reactors using embedded software and analytics tools. This facilitates the prompt notification of potential machine breakdowns to plant operators and managers. Prominent industrial gas manufacturers, such as Praxair-Linde and Air Products, are actively incorporating IoT technology within their operations.

Leading companies within the acetylene market are spearheading innovation by introducing novel technologies, such as microwave plasma, to establish a competitive advantage. Microwave plasma technology serves as a method for converting natural gas into acetylene and hydrogen without involving combustion or producing CO2 emissions. For example, in August 2021, SBH4 GmbH, a Germany-based advisory firm, introduced microwave plasma technology. This innovative technology is designed to enhance the efficiency and cost-effectiveness of producing acetylene gas compared to traditional methods. It achieves this by splitting the methane molecule into hydrogen and acetylene.

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.

Asia-Pacific was the largest region in the acetylene market in 2023. North America was the second-largest region in the global acetylene market. The regions covered in the acetylene market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the acetylene market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The acetylene market consists of the sales of acetylene used for cutting, brazing, flame gouging, texturing, spot heating, hardening, cleaning, and thermal spraying various materials. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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