"We Envision Growth Strategies Most Suited
to Your Business"
The global calcium carbide market size is expected to reach USD 19.12 billion by 2027. The rising demand for PVC-based plastic products is expected to foster the healthy growth of the market, states Fortune Business Insights, in a report, titled “Calcium Carbide Market Size, Share & COVID-19 Impact Analysis, By Application (Acetylene Gas, Calcium Cyanamide, Reducing & Dehydrating Agents, Steel Making, Others), By End User (Chemicals, Steel, Others), and Regional Forecast, 2020-2027.” The market size stood at USD 14.06 billion in 2019 and is expected to exhibit a CAGR of 4.3% between 2020 to 2027.
Expansion of Lonza’s Manufacturing Facility to Boost Market
Lonza Group, a Swiss multinational, chemicals, and biotechnology company announced the expansion of its microbial manufacturing facility in Visp, Switzerland. The new facility will offer scale commercial manufacturing to various customers. Moreover, the company also announced the extension of its partnership agreement with Servier for L-asparaginase, which has been produced at Lonza since 2009. The collaboration of the companies will provide Servier with additional capacity to treat patients with acute lymphoblastic leukemia and cater to the needs of L-asparaginase. Furthermore, the new facility is expected to become operational by mid-2022. Also, the extensive research and development in calcium carbide and microbial fermentation by the company to enlarge its manufacturing and production capabilities will create opportunities for the market in the foreseeable future. In addition, the rising technological advancements to improve the process of CaC2 creation is predicted to foster healthy growth of the market during the forecast period.
To get a detailed report summary and research scope of this market, click here:
Growing Production of Steel to Uplift Market Potential
The growing utilization of CaC2 in desulfurizing and as a reducing agent will have a positive effect on the market during the forecast period. Similarly, it is also used as a modulizing agent in the creation of domulr graphite in iron, and as a finishing slag component in ferrous and non-ferrous refining. The rising steel demand around the world will contribute heavily to the growth of the market. As per the survey conducted by Oxford Economics as an economic modeling exercise in 2017, the steel industry sold US$2.5 trillion worth of products and created US$500 billion value-added. Besides, the rising construction and infrastructure developments will fuel the steel demand, simultaneously aiding the growth of the market.
Carbide Industries LLC to Dominate the Market with its Extensive Product Range
The major companies in the market are focused on expanding their production capacities to reinforce its position in the market. The major producers are shifting towards manufacturing hubs in developing nations to save revenue on labor costs. The enhancement in distribution channels and product offerings of eminent players can be vital for the growth of the market. For instance, Carbide Industries LLC and KC Group have improved their product portfolio to strengthen its position in the market. Besides, various strategies implemented by major industry players such as partnerships, collaborations and acquisition will bode well for the market, thus spurring competition among rival companies
The Report Lists the Main Companies in the Calcium Carbide Market:
Further Report Findings:
The Calcium Carbide Market is Segmented into:
Value (USD Billion); Volume (Kilo Ton)
Application; End-User; and Geography