(MENAFN- GlobeNewsWire - Nasdaq) A growing number of research and development initiatives will increase the use of calcium carbide.
Wilmington, Delaware, United States, Feb. 13, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The calcium carbide industry's value reached US$ 20.3 billion in 2022. By 2031, the market is expected to reach US$ 31.4 billion and increase at a CAGR of 4.8% during the forecast period. Regulations requiring sustainability and eco-friendliness may encourage industries to look for alternatives. A new manufacturing process or alternative material might be developed, affecting calcium carbide sales.
Alterations in steel manufacturing processes or the use of substitute materials may have an effect on calcium carbide demand. Environmental factors could motivate research into greener technologies, impacting calcium carbide-based traditional steelmaking methods. The chemical sector significantly influences the future of the calcium carbide market. The need for calcium carbide may be impacted by changes in the chemical industry, such as the introduction of new procedures or the appearance of substitute feedstocks.
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As technology advances in manufacturing and using calcium carbide, the market's future could be shaped. Various industries could adopt calcium carbide due to its efficiency, cost-effectiveness, and safety features. New applications or more efficient production methods may be discovered through ongoing research and development. Several factors, including innovations in related industries, could influence the market dynamics.
Global Calcium Carbide Market: Key Players
To cater to the industrial applications of calcium carbide, prominent manufacturers, which account for a large market share, invest significantly in research and development activities.
The ability to collaborate closely within a given industry and the integration of mergers and acquisitions is seen as a crucial strategy to enhance product portfolios and maintain a strong position in the market.
Prominent Market Players Manufacturing and Supplying Calcium Carbide
ALMAMET GmbH Rexarc International Inc. Donau Chemie AG Bisley & Company Pty Ltd Xiahuayuan Xuguang Chemical Co. Ltd. SHERWIN INDUSTRIES KC GROUP Lonza Group AG
Key Findings of the Market Report
As chemical production becomes eco-friendlier and sustainable, calcium carbide is increasingly being explored for alternative applications. By 2022, the acetylene gas segment accounted for most of the market shares In terms of regions, Asia Pacific was the most dominant in 2022. End-users such as agrochemicals are likely to drive calcium carbide market demand.
Global Calcium Carbide Market: Growth Drivers
Calcium carbide is used to produce acetylene gas, which, in turn, is used for various applications, including welding and cutting in the steel industry. The demand for steel, driven by construction, infrastructure development, and manufacturing, can significantly impact the demand for calcium carbide. PVC, which is widely used in manufacturing cables, pipes, and other materials, is manufactured with calcium carbide, a crucial raw material in the chemical industry. Calcium carbide demand may increase as the chemical industry expands, particularly in emerging markets. Metal cutting and welding applications use the acetylene produced from calcium carbide. Calcium carbide consumption can be influenced by the demand for metal fabricators and other industries related to metal fabrication. Various chemicals can be made with acetylene derived from calcium carbide, including vinyl acetate monomer and acetic acid. A growing demand for these chemicals may drive calcium carbide demand. In addition to infrastructure projects and construction activities, calcium carbide impacts the steel and chemical markets. The demand for steel and related products often increases due to increased construction and urbanization efforts. A growing economy and industrialization can indirectly affect the calcium carbide market, affecting steel and chemicals demand. Alternative processes and materials may be explored in response to environmental regulations promoting clean technologies, and calcium carbide demand may be affected.
Global Calcium Carbide Market: Regional Landscape
Asia Pacific is the dominant market for calcium carbide. China and India are major steel producers in the region, and calcium carbide is used for metal cutting and welding processes in acetylene-based processes in these countries. The Asian-Pacific region has seen rapid industrialization, resulting in a rise in chemical demand. Due to the expansion of chemical manufacturing, the demand for calcium carbide may increase. As infrastructure development projects are planned and underway in countries such as China and India, steel and related materials are expected to be in higher demand. As calcium carbide is used in the production of steel, this could have an impact on the calcium carbide market.
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Xiahuayuan Xuguang Chemical Co., Ltd. - Xiahuayuan Xuguang Chemical Co., Ltd., located in China, produces calcium carbide. The company manufactures and supplies calcium carbide for acetylene gas production. Rexarc International Inc. - Rexarc International, a manufacturer of acetylene gas plants and associated equipment, is based in the United States. Donau Chemie AG- Donau Chemie AG, based in Austria, is one of the world's leading chemical companies. The company manufactures chemicals for a variety of purposes.
Global Calcium Carbide Market: Segmentation
Desulfurizing Agent Acetylene Gas Reducing Agent Calcium Cyanamide Chemical Intermediate Others (Deoxidizing Agent and Dehydrating Agent)
By End Use
Steel Manufacturing Agrochemical Pharmaceutical Metal Fabrication Construction Material Energy & Power Others (Dyestuff and Rubber & Plastics)
North America Latin America Asia Pacific Europe Middle East & Africa
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