The Asia Pacific Acetylene Gas Market would witness market growth of 5.7% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 868.2 Kilo Tonnes, showcasing a growth of 5.6% (2019-2022).
The market has witnessed several notable trends that have shaped its growth and development. These trends are reflective of the evolving industrial landscape and changing customer demands. As safety and environmental regulations become increasingly stringent, there is a growing emphasis on safer acetylene handling and storage. Innovations in acetylene storage and distribution systems continually evolve to meet these requirements while reducing environmental impact.
Additionally, the industry has seen advancements in acetylene production technology, focusing on enhancing efficiency and reducing energy consumption. Developing advanced gas generation and purification methods contributes to a more sustainable and cost-effective supply chain. While acetylene remains a popular choice for cutting and welding, alternative methods such as laser and plasma arc cutting are gaining traction. These methods offer advantages such as higher precision and reduced environmental impact.
Many countries in the Asia-Pacific region are experiencing rapid urbanization, leading to increased demand for infrastructure to support growing urban populations. Cities are expanding, and there's a need for improved transportation, housing, and utilities. For example, the objective of India's "Smart Cities Mission" is to enhance the infrastructure, transportation, and public services of 100 cities in India, thereby transforming them into smart cities. This initiative includes investments in public transportation, housing, waste management, and technology solutions.
As per the data released by the State Council of China in 2022, the Government has decided to increase infrastructure investment by issuing financial bonds, aiming to raise 300 billion yuan (approximately $44.71 billion). This amount will be used to replenish major projects and other measures. As of May, special bonds amounting to 2.03 trillion yuan were issued, representing 59 percent of the total quota. This indicates a significant increase of 1.4 trillion yuan compared to the corresponding period in the previous year. Therefore, growing infrastructure investments in countries like China and India are expected to increase the demand for acetylene gas in the Asia Pacific region.
The China market dominated the Asia Pacific Acetylene Gas Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $496.2 Million by 2030. The Japan market is exhibiting a CAGR of 5% during (2023 - 2030). Additionally, The India market would experience a CAGR of 6.3% during (2023 - 2030).
Based on Application, the market is segmented into Metal Working, Chemicals, Lamps, and Others. Based on End-Use, the market is segmented into Transportation, Electric & Electronics, Building & Construction, Pharmaceutical, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Global Acetylene Gas Market is Predict to reach USD 5.3 Billion by 2030, at a CAGR of 5.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include BASF SE, Airgas, Inc. (L’AIR LIQUIDE S.A.), Gulf Cryo, Linde plc, The Dow Chemical Company, Asia Technical Gas Co (Pte) Ltd, Jinhong Gas Co., Ltd, Koatsu Gas Kogyo Co., Ltd., Nippon Sanso Holdings Co., Ltd. (Mitsubishi Chemical Holdings), and Butler Gas Products Company.
By Application(Volume, Kilo Tonnes, USD Million, 2019-2030)
By End-Use (Volume, Kilo Tonnes, USD Million, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Million, 2019-2030)
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