Calcium Carbide Market to Reach USD 21.02 Billion by 2029; Increasing Steel Production to Bolster Growth during Forecast Period

The global calcium carbide market size was USD 14.78 billion in 2021. The market is projected to grow from USD 15.30 billion in 2022 to USD 21.02 billion in 2029 at a CAGR of 4.6% during the 2022-2029 period.

This information is provided by Fortune Business Insights, in its 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, 2022-2029.”

The manufacturing of PVC utilizing calcium carbide (CaC₂) has been measured a reasonable technique owing to the factor that it does not necessitate the usage of petroleum or natural gas and has benefits such as lower molecular weight and enhanced plasticizing assets in comparison with petroleum-based PVC. The present trends in the market are the growing demand for PVC-based plastic products and the rising chemical, steel, and agriculture industries.

Deteriorated Requirement for PVC to Obstruct Market during COVID-19 Pandemic

The novel coronavirus commenced from China and affected the entire globe. China is a vital manufacturer and provider of raw materials around the world. The spread of the pandemic had a prominent effect on the supply chain. The product has a chief use in the production of acetylene gas that is likely to influence the market. This dynamic is linked with the national lockdown in China and consequently contracted production capabilities on a severe note. Moreover, severe labor-shortage circumstance, scarcity of transportation modes, and declined export activities hampered the growth during this period.   

Growing Demand from Numerous Sectors to Augur Growth

Calcium carbide is manufactured industrially by utilizing calcium oxide and coke. It is utilized in the chemical industry for varied applications that involve acetylene gas manufacturing and for the formation of acetylene in carbide lamps, chemicals manufacturing for fertilizer, and as well as in steel production. Steel is utilized in the construction industry, owing to its incomparable abilities such as ductility and robustness. It assists in the construction of earthquake-resistant assemblies. The augmented usage of high-speed trains in China, Japan, and India has led to the expansion of special rails, which has amplified carbon steel application. Consequently, the demand for crude steel is expected to bolster the calcium carbide market growth during the forecast period.

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https://www.fortunebusinessinsights.com/industry-reports/calcium-carbide-market-101580

Increasing Production of Steel to Propel Growth of Market

CaC₂ is utilized as a desulfurizing and dropping agent in the steel industry. Moreover, it is also utilized as a modularizing cause in the manufacturing of domlur graphite in iron and as a concluding slag constituent in ferrous and non-ferrous refining. In specific industrial methods, CaC₂ is also utilized as a dehydrating agent. This upsurge is linked with the sturdiness of steel demand, refining investments, and infrastructure agendas. Therefore, the growing manufacturing of steel across the world on account of its demand is predicted to spur the market growth.

However, arsenic and acetylene gases can impact various organs of the human body, and thus trigger several health issues such as faintness, headache, sleepiness, mood disorders, seizures as well as sustained hypoxia. The growing awareness of its health influences is projected to decline its demand, thus limiting market growth.

Prime Players Engage in Deals to Make Noticeable Modifications in Market

The players functioning in the market often deploy various stratagems that will assist the market growth and spur product demand. Among the numerous strategies present, one such remarkable strategy to inflate the business viewpoint is engaging in multimillion agreements with government establishments and safeguarding a lucrative revenue for their own corporation.

List of Key Players Mentioned in the Report:

• Carbide Industries LLC (U.S.)


• APH - Regency Power Group (India)


• MCB Industries Sdn. Bhd. (Malaysia)


• KC Group (India)


• DCM Shriram Ltd. (India)


• AlzChem (Germany)


• Denka Company Limited (Japan)


• American Elements (U.S.)


• Inner Mongolia Baiyanhu Chemical Co., Ltd. China)


• Lonza (Switzerland)


• Mil-Spec Industries Corporation (U.S.)


• Xiahuayuan Xuguang Chemical (China)


• PT Emdeki Utama Tbk (Indonesia)

Further Report Findings:

In terms of end-user, the global market is segregated into chemicals, steel, and others. The increasing demand for acetylene and its derivatives from the pharmaceutical and plastics industries and calcium cyanamide from the agriculture industry is expected to drive the segment.

Asia Pacific held the largest calcium carbide market share and stood at USD 14.16 billion in 2021. The region is expected to witness the highest growth in the market during the forecast period. The prospering chemical and steel manufacturing industry in the region is a key driver of the market.

Table of Segmentation: