Calcium Carbide Market: Introduction
The calcium carbide market was valued over US$ 18.7 Bn in 2020 and is expected to cross US$ 31.38 Bn by 2031. The global calcium carbide market is anticipated to expand at a CAGR of ~5% during the forecast period. Calcium cyanamide is produced by passing nitrogen through powdered calcium carbide in an electric arc furnace. The increase in the demand for calcium cyanamide is expected to drive the calcium carbide market during the forecast period. Rise in global demand for food owing to growing population; climate changes; and ineffective farming techniques are driving the need for yield efficiency across the globe. This, in turn, is augmenting the global calcium carbide market.
According to the U.S. Census Bureau, the global population stood at around 7.5 billion in 2019 and is anticipated to reach more than 9.7 billion by 2050. Thus, increase in need for food is projected to drive the demand for calcium cyanamide fertilizers during the forecast period. In turn, this is likely to boost the global calcium carbide market.
The rise in the demand for calcium cyanamide has been identified as one of the key calcium carbide market trends. Calcium cyanamide is a nitrogen-based fertilizer used in the agriculture industry to protect crops from a wide range of harmful insects and weeds. Calcium cyanamide also helps in preventing yield and quality losses during tight crop rotations. Thus, increase in demand for calcium cyanamide is boosting the global calcium carbide market.
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Key Drivers of Calcium Carbide Market
The growth in the demand for Polyvinyl Chloride (PVC) in various applications across the globe is expected to boost the calcium carbide market during the forecast period. Polyvinyl Chloride (PVC) is one of the widely used polymers in the world. PVC is used extensively across a broad range of industrial, technical, and everyday applications, including building & construction, transport, packaging, electrical/electronics, and healthcare, due to its versatile nature.
PVC has been used extensively in a wide range of construction products for over half a century, owing to its strong, lightweight, durable, flame retardant, and excellent electrical insulation properties. Typical examples of PVC construction products include window and door profiles, conservatories and atria, pipes and fittings, power, data and telecom, wiring and cables, cable and services ducting, internal and external cladding, roofing and ceiling systems and membranes, rainwater, soil and waste systems, flooring, and wall coverings.
The increase in the demand for PVC is directly linked to GDP growth, as PVC is widely used in all major end-use sectors that affect the GDP of a country. Therefore, the rise in economies around the world is anticipated to boost the demand for PVC during the forecast period. In turn, this is expected to propel the global calcium carbide market.
PVC is manufactured through the cracking of chemicals such as calcium carbide, ethylene, and dichloroethane. Hence, the demand for calcium carbide is estimated to rise due to the increase in the demand for PVC. PVC is widely used in the manufacture of pipes, siding, hoses, medical devices, automotive parts, housewares, shower curtains, raincoats, toys, school supplies, food packaging, and shoes. Thus, it is employed in major industries such as automotive, electrical & electronics, and building & construction.
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Harmful Health Effects to Hamper Calcium Carbide Market
Calcium carbide is on the Right to Know Hazardous Substance List cited by the U.S. Department of Transportation (DOT), National Fire Protection Association (NFPA), and Environmental Protection Agency (EPA). Apart from its industrial use, it is frequently used in domestic settings for unclogging of drains as well as ripening of fruits. Calcium carbide is an alkali. It releases acetylene gas on contact with moisture. Acetylene gas is a chemical analogue of ethylene gas, which is a natural fruit ripening agent. Commercialized ripening is an essential part of the fruit business, as ripe fruits are not suitable to transport and distribute. Acetylene gas is a depressant to central nervous system and irritant to respiratory system. Its chemical reaction generates heat, which can cause burn and damage to mucosa, skin, and eyes on contact. Therefore, several governing bodies have banned the usage of calcium carbide to ripen fruit. This is anticipated to adversely affect the calcium carbide market.
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