Acetylene Market size was over USD 6.51 billion in 2024 and is projected to reach USD 10.65 billion by the end of 2037, growing at around 3.9% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of acetylene is assessed at USD 6.71 billion.
The growth of the market can be attributed to the surge in the chemical sector by the production of various chemicals, along with the rise in the welding sector with the increasing use of acetylene for metalwork in the welding industry. For instance, around USD 4.9 trillion in revenue was generated by the chemical sector worldwide in 2021. Further, the escalating use of acetylene as a fuel in oxyacetylene metal cutting, and its increasing application in various end-use industries are some further factors that are anticipated to drive the growth of the global acetylene market over the forecast period.
In addition to these, factors that are believed to fuel the market growth of acetylene include its rising application in gas welding steel as of its extreme temperature as compared to other compounds such as propane. For instance, when propane is burned in oxygen, it creates a flame temperature of around 2800°C. But together with oxygen, acetylene creates a higher flame temperature of nearly 3300°C. As a result of its high combustion temperature, acetylene is an extremely appropriate choice for gas welding steel. In addition to this, the soaring investments in the chemical industry are also a major factor that is projected to propel the growth of the market over the forecast period. Additionally, worldwide proliferating applications of metalworking in various sectors, along with the radically increasing construction activities throughout the world are also predicted to present the potential for market expansion over the projected period.
Growth Drivers
Growth in Automotive Industry – Transportation activities have been growing as a result of dynamic growth in the automotive industry. The demand and production of commercial and passenger vehicles have been growing which is also boosting the growth of this sector at a larger scale. The growth of the automotive sector is directly anticipated to encourage the growth in the demand for acetylene, as acetylene is used for making the body and other metallic parts of vehicles. Therefore, worldwide growth in the automotive industry is estimated to boost the growth of the acetylene market in the projected time frame. For instance, from April 2021 to March 2022, the Indian automobile industry manufactured an aggregate of 23,945,350 vehicles, comprising passenger vehicles, commercial vehicles, three-wheelers, two-wheelers, and quadricycles, compared to 22,552,607 units in April 2020 to March 2021.
Worldwide Rising Production of Synthetic Rubber – Acetylene is widely employed in the manufacturing process of synthetic rubber. Natural rubber is derived from natural sources, whereas synthetic rubber is derived from petroleum products. It is utilized in tires, hoses, and other items that require flexibility and durability. Acetylene is utilized in the vulcanization process, which imparts strength and flexibility to rubber. It is the procedure of heating and chemically treating rubber to make it more durable and resilient. Hence, the radically increasing production of rubber is also anticipated to fuel the growth of the acetylene market in the coming years. For instance, the previous decade has witnessed a significant rise in the worldwide manufacturing of synthetic rubber. In the year 2000, around 11 million metric tons of synthetic rubber were manufactured. Whereas by 2020, this figure had increased to more than 14 million metric tons.
An Upsurge in Construction Activities - For instance, in 2021, construction projects in the United States were estimated to be worth USD 1.8 trillion.
Worldwide Growth in Pharmaceutical Sector - Many medicinal products are made using acetylene. It is a crucial material in the production of several types of painkillers including acetaminophen, aspirin, and other painkillers. Several antibiotics, such as penicillin and ampicillin, are also manufactured by using it. Hence, the worldwide growth in the pharmaceutical sector is also projected to spur the growth of the global acetylene market over the projected time frame. As per a report, in 2021, global pharmaceutical revenue exceeded around USD 1.50 trillion.
Rising Demand for Polymers and Resins – Polymers and resins are widely used in various industries. They are frequently employed as raw materials in the molding and fabrication of plastics. Acetylene is frequently used in the production of polymers and resins that are very robust and durable and are utilized in various applications including construction materials, automotive components, medical devices, and so on. Hence, the rising application of these polymers is potentially increasing the demand for polymers and resins. Therefore, such an increasing demand for polymers and resins is anticipated to boost the growth of the market over the forecast period. For instance, approximately 11 million metric tons of polymers were manufactured in India during the year 2021.
Challenges
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
3.9% |
|
Base Year Market Size (2024) |
USD 6.51 billion |
|
Forecast Year Market Size (2037) |
USD 10.65 billion |
|
Regional Scope |
|
Application (Welding, Chemical Raw Materials, Portable Lighting)
The global acetylene market is segmented and analyzed for demand and supply by application into welding, chemical raw materials, portable lighting, and others. Out of these four types of segments, the welding segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the high flame temperature of acetylene that creates more intense heat and thus assists in creating a stronger weld on metals. Combustion of acetylene with oxygen produces an extreme flame of over 3,330°Celsius, which is highly suitable for welding and other metal works. which is estimated to boost the segment growth. In addition to this, increasing demand for welding products, along with the globally rising production of steel is also anticipated to surge the growth of the segment over the forecast period as the welding process is highly used in the manufacturing of steel. For instance, the worldwide production of crude steel increased from 1.875 billion metric tons in 2020 to 1.960 billion metric tons in 2021.
End-user (Aerospace, Automotive, Chemical, Agriculture, Metal Fabrication)
The global acetylene market is also segmented and analyzed for demand and supply by end-user into aerospace, automotive, chemical, agriculture, metal fabrication, and others. Amongst these five segments, the automotive segment is expected to garner a significant share. The growth of the segment can be attributed to the surging production of automotive vehicles throughout the world. The demand for passenger and commercial vehicle is radically rising. This rising demand for vehicles is also fueling the utilization of acetylene at a larger scale as acetylene is highly used for making the body and other metallic parts of vehicles. Besides this, the metal fabrication segment is also anticipated to grasp a notable market share. The growth of this segment is credited to the escalating application of metalworking in various industries throughout the world. This, as a result, is anticipated to create numerous opportunities for the growth of the segment in the projected time frame.
Our in-depth analysis of the global market includes the following segments:
|
By Production |
|
|
By Application |
|
|
By End-User |
|
APAC Market Statistics
The Asia Pacific acetylene market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2037. The growth of the market can be attributed majorly to the increasing transportation activities in the nations including India, Japan, China, and so on, coupled with the growing sale of automobiles, the higher surge in the sale of vehicles, along with the presence of major automobile manufacturers in the region. For instance, over 3.50 million units of passenger and commercial vehicles were sold in India in 2020. Further, the major boom in the chemical industry is also estimated to potentially accelerate the acetylene market in the region as acetylene is highly used in the production of various major chemicals such as vinyl acetate, acetaldehyde, acrylonitrile, polyacetylene, polydiacetylene, and so on. In addition to this, the region's expanding construction industry and rising real estate investment are also anticipated to boost market growth in the APAC region during the forecast period.
North American Market Forecast
The North American acetylene market, amongst the market in all the other regions, is projected to grow with the highest CAGR during the forecast period. The growth of the market can be attributed majorly to the proliferating manufacturing of aircraft, and automobiles. Based on a report, the general aviation aircraft fleet in the United States is projected to increase from 205,670 in 2021 to 210,898 by 2041. Moreover, the growing sale of vehicles in the U.S. and Canada, along with the surge in the welding, and metal fabrication industries are further estimated to raise the acetylene market growth in the region during the projected time frame.
Linde plc started a new syngas processing plant in the U.S., which can convert the by-product Acetylene Off-Gas (AOG), into high-value products to supply to chemical manufacturers.
Ferrellgas Partners, L.P., announced the Acquisition of Wylie LP Gas, Inc., to expand its distribution in Texas, U.S. This acquisition is anticipated to exhibit the organization’s commitment to expanding its primary propane business.
Author Credits: Rajrani Baghel
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?