The Global Acetylene Gas Market size is expected to reach $5.3 billion by 2030, rising at a market growth of 5.5% CAGR during the forecast period. In the year 2022, the market attained a volume of 3,032.4 Kilo Tonnes, experiencing a growth of 5.3% (2019-2022).
As construction and infrastructure projects expand, the demand for acetylene gas for cutting and welding operations rises. This increases sales and revenue for acetylene gas manufacturers and suppliers, positively impacting their financial performance. Thus, the Building & Construction segment would procure approximately 28% share of the market by 2030. Construction and infrastructure projects are long-term endeavors, ensuring a steady and consistent demand for acetylene gas. The construction and infrastructure sectors often require specific cutting and welding solutions, which can lead to the development of specialized acetylene gas products and applications. This diversification can open up new opportunities and revenue streams for the industry. Some of the factors impacting the market are continuous expansion of the industrial sector, rising usage of acetylene gas in the energy sector, and advances in alternative welding and cutting technologies.
Acetylene gas is an essential component in numerous industrial processes. It is used in the manufacturing of various chemicals, especially in the production of plastics, rubber, and pharmaceuticals. As industrial sectors expand, there's a heightened demand for these products, subsequently increasing the need for acetylene gas. Acetylene is a critical fuel gas for oxy-acetylene welding and cutting, widely used in metal fabrication. With the industrial sector's expansion, the demand for metal fabrication increases, further propelling the demand for acetylene gas. As the need for alternative energy sources and power generation expands, so does the demand for acetylene gas. Additionally, As the energy sector grows and invests in infrastructure, there is a higher demand for acetylene gas for welding, cutting, and maintenance of pipelines and related facilities. This increased demand directly boosts sales and revenue for acetylene gas manufacturers and suppliers. The surge in demand for acetylene gas leads to revenue growth for companies in the industry. A growing energy sector can expand the overall acetylene gas market. A larger market size attracts more participants, encouraging competition and stimulating innovation, product quality, and service improvements. In regions with a robust energy sector, there may be opportunities to export acetylene gas to neighboring areas with less domestic production. This can diversify revenue streams and extend the market's reach. As a result, there will be increased demand for acetylene gas in the coming years.
However, laser and plasma cutting technologies often offer faster and more precise cutting, reducing the need for acetylene gas in various applications. This demand reduction directly affects the market by lowering sales and revenue. As alternative technologies gain popularity, acetylene gas may lose market share in industries traditionally relying on it for cutting and welding. This loss can lead to increased competition and price pressures. Laser and plasma cutting can be more cost-effective in the long run, as they require fewer consumables and lower operating costs than acetylene gas. This cost advantage can discourage users from choosing acetylene gas. Therefore, these aspects can restrain the growth of the market in the coming years.
On the basis of end-use, the market is divided into transportation, building & construction, electric & electronics, pharmaceutical, and others. The transportation segment recorded the maximum revenue share in the market in 2022. With the rising concerns surrounding environmental sustainability and the imperative to decrease greenhouse gas emissions, there has been a growing inclination towards exploring alternative fuels. Acetylene can be used as a fuel in certain vehicles, particularly in industrial and specialized applications. The development and adoption of acetylene-fueled vehicles can contribute to the growth of this segment. Advancements in acetylene production, storage, and distribution technologies can make acetylene a more attractive and viable fuel source for transportation applications.
Based on application, the market is segmented into metal working, lamps, chemicals, and others. In 2022, the chemicals segment garnered a significant revenue share in the market. Acetylene gas is used as a feedstock for synthesizing various chemicals, including vinyl chloride, acetaldehyde, acetic acid, and other organic compounds. These chemicals have diverse applications in plastics,and chemical manufacturing industries. Acetylene-based chemicals produce polymers, including polyvinyl chloride (PVC) and polyvinyl acetate (PVA). The growth of the plastics and polymer industry, driven by demand in the construction, automotive, and packaging sectors, contributes to the demand for acetylene gas-derived chemicals. Owing to these factors, there will be increased demand in the segment in the coming years.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 3.4 Billion |
| Market size forecast in 2030 | USD 5.3 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 5.5% from 2023 to 2030 |
| Number of Pages | 288 |
| Number of Table | 570 |
| Quantitative Data | Volume in Kilo Tonnes, Revenue in USD million, and CAGR from 2019 to 2030 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Application, End-use, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment procured the highest revenue share in the market in 2022. The automotive industry is a major user of acetylene for applications like welding and metal fabrication. The automotive industry's growth in countries like China and India helps increase the acetylene gas demand. The Asia Pacific region is renowned for its ambitious endeavors in the fields of energy and infrastructure. These projects often require acetylene gas for various applications, including the construction of pipelines and other critical infrastructure. Thus, these aspects will boost the demand in the segment.
Free Valuable Insights: The Global Acetylene Gas Market size to reach USD 5.3 Billion by 2030
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include BASF SE, Airgas, Inc. (L’AIR LIQUIDE S.A.), Gulf Cryo, Linde plc, The Dow Chemical Company, Asia Technical Gas Co (Pte) Ltd, Jinhong Gas Co., Ltd, Koatsu Gas Kogyo Co., Ltd., Nippon Sanso Holdings Co., Ltd. (Mitsubishi Chemical Holdings), and Butler Gas Products Company.
By Application(Volume, Kilo Tonnes, USD Million, 2019-2030)
By End-Use (Volume, Kilo Tonnes, USD Million, 2019-2030)
By Geography (Volume, Kilo Tonnes, USD Million, 2019-2030)
This Market size is expected to reach $5.3 billion by 2030.
Continuous expansion of the industrial sector are driving the Market in coming years, however, Advances in alternative welding and cutting technologies restraints the growth of the Market.
BASF SE, Airgas, Inc. (L’AIR LIQUIDE S.A.), Gulf Cryo, Linde plc, The Dow Chemical Company, Asia Technical Gas Co (Pte) Ltd, Jinhong Gas Co., Ltd, Koatsu Gas Kogyo Co., Ltd., Nippon Sanso Holdings Co., Ltd. (Mitsubishi Chemical Holdings), and Butler Gas Products Company.
In the year 2022, the market attained a volume of 3,032.4 Kilo Tonnes, experiencing a growth of 5.3% (2019-2022).
The Metal Working segment is leading the Market by Application in 2022 thereby achieving a market value of $1.7 Billion by 2030.
The Asia Pacific region dominated the Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $1.8 Billion by 2030.
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