Fortune Business Insights projects the global Calcium Carbide Market value will reach USD 20.55 billion by 2026. One of the main drivers for this is the increasing demand and production of steel in the world.
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.
Rising Acetylene Production to Propel the Global Calcium Carbide Market 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 Calcium Carbide Market revenue will get a boost owing to the widespread demand for acetylene and its derivatives.
List of best players profiled in the global calcium carbide market include;
- Carbide Industries LLC
- APH - Regency Power Group
- MCB Industries Sdn. Bhd.
- KC Group
- DCM Shriram Ltd.
- AlzChem
- Denka Company Limited
- American Elements
- Inner Mongolia Baiyanhu Chemical Co., Ltd.
- Lonza
- Mil-Spec Industries Corporation
- Xiahuayuan Xuguang Chemical
- PT Emdeki Utama Tbk
- Other Prominent Players
Browse Complete Report details with Table of Content and Figures: https://www.fortunebusinessinsights.com/industry-reports/calcium-carbide-market-101580
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.
