Fortune Business Insights projects the global Calcium Carbide Market value will reach USD 20.55 billion by 2026 from its current value of USD 13.39 billion. The global calcium carbide market size is expected to grow at a healthy CAGR of 5.6%. One of the main drivers for this is the increasing demand and production of steel in the world.
In its report, titled “Calcium Carbide Market Size, Share & Industry Analysis, By Application (Acetylene Gas, Calcium Cynamide, Reducing & Dehydrating Agents, Steel Making, Others), By End User (Chemicals, Steel, Others), and Regional Forecast, 2019-2026”, The report also contains a detailed evaluation of the factors and dynamics that will influence the market in the forecast period.
According to the World Steel Association estimates, in 2018, crude steel production reached 1,808.6 million tons globally. Moreover, the worldwide demand for steel is projected to reach 1,681 million tons in 2019, which will substantially expand the global Calcium Carbide Market size in the forecast period. Calcium carbide is a crucial component in the production of steel as the compound is used as a desulfurizing and reducing agent. Thus, rising steel production, especially in China, Japan, and India will cause a spike in the global Calcium Carbide Market demand.
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Rising Acetylene Production to Propel the Global Growth
Calcium carbide (CaC2) is a chemical compound that is widely used across different manufacturing industries. It is primarily used in the production of acetylene gas which is used in torches for cutting and welding. In China, calcium carbide is the central ingredient in the production of polyvinyl chloride (PVC). Acetylene is in high demand for its diverse applicability in various manufacturing processes such as making of plastic and synthetic rubber, pharmaceuticals, and oxyacetylene welding. Furthermore, acetylene is also being utilized in various consumer products such as lotions, hairsprays, and sunscreens. The global Market revenue will get a boost owing to the widespread demand for acetylene and its derivatives.
List of best players profiled in the market include;
- Carbide Industries LLC
- APH – Regency Power Group
- MCB Industries Sdn. Bhd.
- KC Group
- DCM Shriram Ltd.
- Denka Company Limited
- American Elements
- Inner Mongolia Baiyanhu Chemical Co., Ltd.
- Mil-Spec Industries Corporation
- Xiahuayuan Xuguang Chemical
- PT Emdeki Utama Tbk
- Other Prominent Players
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Economic Feasibility of Producing PVC Using Calcium Carbide to Fuel the Market
Polyvinyl chloride (PVC) produced using calcium carbide is seen as both economically viable and environmentally less harmful. This is mainly because the use of petroleum or natural gas can be avoided, which bodes well for the global Calcium Carbide Market as world faces mounting environmental concerns. Calcium carbide also lowers the molecular weight of PVC and helps make more durable plastic.
North America to Generate High Revenue; Asia-Pacific to Boast a Sturdy Growth Rate
Having generated a revenue of USD 78.5 million in 2018, North America is projected to hold a major portion in the global Calcium Carbide Market share during the forecast period. The main reason for this being the growing demand for calcium carbide across industries in the region. On the other hand, Asia-Pacific is expected to register the highest growth rate on account of rapidly developing chemical industries in India and China, along with rising steel production in Japan. Additionally, increasing demand for acetylene in PVC manufacturing in China is anticipated to give the extra push to the global Calcium Carbide Market growth in the coming decade.
Growing Attention Towards Tapping Lucrative Opportunities in China to Drive Competition
Chinese companies are stepping up their investments in the production and application of calcium carbide. This has led to the spurting of huge business opportunities for other players in the global Calcium Carbide Market. Many European and North American companies are investing in innovation and developing new products. For example, Germany-based AlzChem has made impressive progress in developing cyanamide and its derivatives which the company uses as building blocks for the heterocyclic compounds’ synthesis such as imidazole.
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