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Metal Cutting gas market Evaluation
Urbanization and Construction: Increasing population and rapid urbanization boost construction activities in both developed and developing regions
WILMINGTON, DELAWARE, UNITED STATES, June 25, 2024 /EINPresswire / -- The "Metal Cutting Gas Market by Gas Type (Acetylene, Propylene, Natural Gas, Propane, Others), By End Use (Automotive, Aerospace, Building and Construction, Metal and Metal Fabrication, Others): Global Opportunity Analysis and industry Forecast, 2021-2031" report by Allied Market Research highlights significant trends and projections for the global metal cutting gas industry. The market, valued at $2.7 billion in 2021, is anticipated to grow to $4 billion by 2031, registering a CAGR of 4.2% from 2022 to 2031.
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Key Growth Drivers
The expansion in the global metal cutting gas market is primarily driven by:
- Urbanization and Construction: Increasing population and rapid urbanization boost construction activities in both developed and developing regions, where metal cutting gases play a critical role in steel cutting and welding.
- Industry Demand: Rising demand for processing carbon and low-alloy materials in sectors such as aerospace, automotive, and metal fabrication offers new market opportunities.
- Economic Recovery: Post-COVID-19 economic recovery and rising activities in automotive, construction, and manufacturing sectors contribute to market growth.
Market Segmentation
Gas Type
- Acetylene: Dominated the market with nearly two-fifths share in 2021 and projected to achieve the highest CAGR of 4.5% from 2022 to 2031 due to its ability to produce the hottest flame for industrial applications.
- Others: Include propylene, natural gas, and propane, each catering to specific industrial needs.
End Use
- Metal and Metal Fabrication: Held the largest market share in 2021, accounting for one-third of the market, driven by infrastructure development and the use of prefabricated structures.
- Aerospace: Expected to grow at the highest CAGR of 4.6% from 2022 to 2031, due to advancements in aerospace technology and increased demand for precision metal cutting.
Regional Insights
Asia-Pacific:
- Dominance: Held nearly half of the global market revenue in 2021 and is forecasted to maintain dominance through 2031.
- Growth Factors: Increased production capacities, such as the launch of Indane NANOCUT by Indian Oil Corporation Ltd., enhance LPG efficiency for metal cutting, driving market growth in the region.
Leading Market Players
Key companies in the metal cutting gas market include:
- Total Energies SE
- Hornet Cutting Systems
- Ador Welding Limited
- Bharat Petroleum Corporation Limited
- LEVSTAL
- NISSAN TANAKA CORPORATION
- Indian Oil Corporation Ltd.
- Haco
- Brothers Gas
These players are engaged in strategic initiatives such as new product launches and capacity expansions to strengthen their market positions.
Conclusion
The global metal cutting gas market is set for substantial growth, driven by urbanization, industrial demand, and economic recovery post-COVID-19. Acetylene and metal fabrication sectors are poised for significant advancements, with Asia-Pacific leading the market.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
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