According to a new market report published by Credence Research “Calcium Carbide Market – Growth, Future Prospects and Competitive Analysis, 2016 – 2024,” the global calcium carbide market is expected to reach over US$ 13.4 Bn by 2024, expanding at a CAGR of 6.5% from 2016 to 2024.
The worldwide calcium carbide market was evaluated at USD 8.0 Bn for the year 2015. Growing demand for chemical acetylene is predicted to remain the chief aspect determining the trends of global calcium carbide market in the near future. Acetylene is used for a variety of useful chemical reactions to form intermediates which are used in the manufacture of a diverse range of chemical derivatives. Acetylene derivatives are used in a variety of everyday consumer products, including hair sprays, cosmetics, sun screens and lotions, antiseptics, and tartar-control toothpastes. The rising demand for cutting & welding and steel making is predicted to further enhance the demand for calcium carbide in upcoming years.
Browse the full Calcium Carbide Market – Growth, Future Prospects and Competitive Analysis, 2016 – 2024 report at http://www.credenceresearch.com/report/calcium-carbide-market
China is the dominant player in the calcium carbide market because of its large reserves and recent capacity rationalizations. China is also the world’s largest exporter of calcium carbide. Major driver for the increasing calcium carbide production in China is the growing demand from downstream PVC industry, which captures nearly 70% of the total carbide output. Overall consumption of calcium carbide in Western Europe is expected to decrease in future. In North America, production of acetylene and steel-foundry industry are main consumers of calcium carbide.
Growing demand for calcium carbide from different end use sectors has compelled the producers to concentrate on capacity expansion. Producers are also involved in creating on demand calcium carbide production methods so as to increase the production of specific calcium carbide. Erdos Group, Mahatma Xinjiang Energy, Xinjiang Zhongtai Chemical, Carbide Industries LLC., Regency Carbide Pvt Ltd., China Ansheng Group, KC Group, SA Calcium Carbide, Magnalium Sdn. Bhd., Iran Carbide Co. are the few key manufacturers in calcium carbide market.
- Polyethylene emerged as the leading application segment
- Automotive and consumer goods are driving segments for calcium carbide
- Increasing share of LLDPE application segment
- Asia Pacific is expected to register the highest growth rate
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