Global Acetylene Market Shows Strong Growth, Expected to Reach $15.46 Billion by 2028

The Business Research Company's Acetylene Market Shows Strong Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 21, 2024 /EINPresswire.com/ -- The global acetylene market is projected to grow from $10.81 billion in 2023 to $11.6 billion in 2024, at a compound annual growth rate (CAGR) of 7.2%. This growth is driven by increasing industrialization, booming infrastructure development, and rising demand in the construction and chemical manufacturing industries. The market is expected to see further strong growth, reaching $15.46 billion by 2028 at a CAGR of 7.5%, fueled by expanding sectors such as renewable energy, aerospace and defense, and electronics, along with growing applications in medical fields.

Growing Applications of Acetylene Drive Market Expansion
The acetylene market is set to expand significantly, driven by its growing applications across various industries. Acetylene is a key raw material in the production of organic chemicals like 1,4-butanediol, essential for manufacturing polyurethane and polyester plastics. Additionally, acetylene is widely used as fuel in oxyacetylene welding and metal cutting processes, making it indispensable in industrial applications.

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Major Players And Trends
The acetylene market features major players such as BASF SE, Gulf Cryo, Linde PLC, Praxair Inc., Sinopec, and Chengdu Xinju Chemical Co. Ltd., among others. These companies are focusing on technological innovations and strategic partnerships to maintain a competitive edge. For instance, microwave plasma technology, which converts natural gas into acetylene and hydrogen without CO2 emissions, represents a significant technological advancement, with companies like SBH4 GmbH leading the way.

Segments:
• Type: Calcium Carbide Production, Thermal Cracking Process
• Application: Automotive, Metal Fabrication, Aerospace, Pharmaceutical, Other Applications
• Sales Channel: Direct Company Sale, Direct Import, Distributors & Traders

Geographical Insights: Asia-Pacific Leading the Market
Asia-Pacific was the largest region in the acetylene market in 2023, with North America being the second-largest. The region's dominance is attributed to rapid industrialization, infrastructure projects, and growing demand in key industries. The market in Asia-Pacific is expected to continue leading, supported by favorable economic conditions and increased investment in industrial activities.

Access the complete report for an in-depth analysis of the global acetylene market:
https://www.thebusinessresearchcompany.com/report/acetylene-global-market-report

Acetylene Global Market Report 2024 from The Business Research Company covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Acetylene Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on acetylene market size, acetylene market drivers and trends, acetylene market major players, acetylene competitors' revenues, acetylene market positioning, and acetylene market growth across geographies. The acetylene market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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