Calcium Carbide Market - Forecast(2021 - 2026)
Global Calcium Carbide Market size is forecast to reach around $18 billion by 2025, after growing at a CAGR of 5.1% during 2020-2025. The demand for Calcium Carbide is growing due to its superior mechanical properties that meet today’s most demanding thermal, mechanical, and electrical performance requirements across various applications. Additionally, the use of calcium carbide not only simplifies and diminish the cost of synthesis, but also avoids the problems associated with transportation and sorting that makes it as a useful product across pharmaceuticals, cosmetics, plastics and steel industries.
Calcium Carbide Market Report Coverage
The report: “Global Calcium Carbide Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Global Calcium Carbide Market.
By Manufacturing Process: Standard Process, Electric Arc Furnace, and Others
By Application: Metallurgical Applications (Desulfurization (Direct Method, Steel Making, (Casting Operations and Steel Ladle Deoxidization)), (Slag Conditioning (Removal of Unwanted Iron Oxide, Oxidizing (Fading) Alloy Additions, Attacking Refractories, and Foaming the Slay)), and Furnace Injection (EAF (Electronic Arc Furnace) ((Alloy Recovery, and Carbide Injection))), Chemical Applications (Chemical Acetylene Production (Production of Acetylene and Calcium Hydroxide (Carbide Lamps and Production of Acetylene Black)), (Cutting & Welding (Metal Fabrication (Metal Joining, Cleansing Surface Imperfections, and Flame Hardening), and Construction))), Environmental Engineering (Neutralizing the Effects of Acid Rain, and Soil Stabilization)), and Synthesis of Solvents (Vinyl Chloride, Acrylonitrile, Acetic acid, Acetone, Ethylene, Styrene, and Synthetic Resins))
By End-Use Industry: Pharmaceuticals, Food & Beverages, Agriculture, Cosmetics, Chemical, Energy and Power, Metallurgy, and Others
By Geography: North America, South America, Europe, APAC, and RoW.
Key Takeaways:
- In Asia-Pacific region, China and India are the major emerging market for the Calcium Carbide owing to growing industrialization and developing pharmaceutical sector.
- The high cost of the Calcium Carbide is hampering the growth of Calcium Carbide market share during the forecast period.
- The outbreak of COVID-19 is also considered as the major restraining factor to the market growth over the forecast period. COVID-19 pandemic has badly impacted the global supply chain and world economy. Besides, Industries are being shuttered all around the globe due to lockdown. Hence, demand is declining for calcium carbide from various industry verticals acts as a restraining factor to the market growth.
Calcium Carbide Market Segment Analysis - By Manufacturing Process
The Electric Arc furnace segment holds the largest share of more than 45% in the Calcium Carbide market in 2019 due to its high functionality and large processing capacity along. Furthermore, growing demand for high-quality calcium carbide from various end-use industry produce PVC and other products drives the demand for electric arc furnace. As, electric arc furnace uses the heat generated by the arc to smelt ores and metals and also helps to reduce the production cost as compared to the other processes.
Calcium Carbide Market Segment Analysis - By Application
The chemical applications segment holds the largest share of more than 35% in the Calcium Carbide market in 2019 due to widely used of acetylene in the various application include organic chemicals like Vinyl chloride and 1,4-butanediol, plastics, and in oxyacetylene cutting and welding of metals. Furthermore, acetylene is also used as a raw material to the production of acetaldehyde, acetic anhydrite, and acetic acid. Thus, the growing demand for acetylene gas raises the consumption of calcium carbide that in turn contribute to the growth of this market.
Calcium Carbide Market Segment Analysis - By End-Use Industry
The agriculture segment is projected to grow at a substantial CAGR of 6% in the global Calcium Carbide market during the forecast period. This is attributed to the growing uses of Calcium cyanamide as a fertilizer in the agriculture industry. Calcium cyanamide is a nitrogen-based chemical helps to prevents yield and quality losses of the crop. The use of this chemical in agriculture sector helps in protecting crops from a wide range of harmful insects and weeds. Additionally, growing population along with food demand is also likely to drive the growth of this market during the forecast period.
Calcium Carbide Market Segment Analysis - By Geography
Among the regions, the APAC holds the largest share of more than 35% in the global Calcium Carbide market followed by North America and Europe during the forecast period. The growing demand from agriculture and healthcare industries across China and India is fueling the growth of this market in the APAC region. In APAC region, China acts as a dominant country in the calcium carbide market owing to the presence of large Chinese coal reserves and the rapid development of the production of VCM and BDO from acetylene. Furthermore, the growing consumer and e-commerce sectors is also contributing for the growth of Calcium Carbide market share across the APAC region. Furthermore, growing transportation sector, changing lifestyle, and rise in disposables income also contribute to the growth of this market in APAC region.
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