The North America Acetylene Gas Market would witness market growth of 4.8% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 780.4 Kilo Tonnes, showcasing a growth of 4.8% (2019-2022).
The market is a dynamic and vital segment within the broader industrial gas industry. Acetylene, a hydrocarbon gas composed of two carbon and two hydrogen atoms, is renowned for its versatility and unique properties that have made it indispensable in various industrial applications. The adoption of acetylene gas in industrial processes and applications has a rich history that dates back over a century. Acetylene has found its place in numerous sectors due to its remarkable qualities. Its adoption has been primarily driven by its high flame temperature, making it an invaluable tool for cutting, welding, and brazing in the metalworking industry.
One of the key factors contributing to the widespread adoption of acetylene is its easy and safe generation. The reaction of calcium carbide with water typically yields acetylene gas. This simplicity, combined with the ability to generate acetylene on-site, has made it a practical choice for industries where a continuous and reliable gas supply is essential. In addition to its use in welding and cutting, acetylene has seen adoption in various other sectors. The chemical industry leverages acetylene as a precursor for producing various organic compounds, including plastics and pharmaceuticals. Introducing acetylene into the production of chemicals has added a layer of significance to its adoption in modern industries.
As per the data released by the Government of British Columbia in July 2021, through the Investing in Canada Plan, the Government of Canada has allocated more than $180 billion over a span of 12 years for diverse initiatives. These initiatives encompass public transit projects, green infrastructure, social infrastructure, trade and transportation routes, as well as the development of rural and northern communities in Canada. Through the Investing in Canada Plan, the Government of Canada is already investing $28.7 billion to support public transit projects, including $5 billion available for investment through the Canada Infrastructure Bank. Therefore, rising investment in the transportation sector in North America will directly boost the growth of the market in the region.
The US market dominated the North America Acetylene Gas Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,086.6 Million by 2030. The Canada market is registering a CAGR of 7.2% during (2023 - 2030). Additionally, The Mexico market would showcase 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 U.S., Mexico, Canada, and Rest of North America.
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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