The global calcium carbide market is expected to grow at a healthy CAGR of 5.6%. One of the main drivers for this is the increasing demand and production of steel in the world. According to World Steel Association estimates, in 2018, crude steel production reached 1,808.6 million tons globally.

Moreover, the worldwide demand for steel is projected to reach 1,681 million tons in 2019, which will substantially expand the global calcium carbide market size in the forecast period. Calcium carbide is a crucial component in the production of steel as the compound is used as a desulfurizing and reducing agent. Thus, rising steel production, especially in China, Japan, and India will cause a spike in the global calcium carbide market demand.

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Rising Acetylene Production to Propel the Global Calcium Carbide Market Growth

Calcium carbide (CaC2) is a chemical compound that is widely used across different manufacturing industries. It is primarily used in the production of acetylene gas which is used in torches for cutting and welding. In China, calcium carbide is the central ingredient in the production of polyvinyl chloride (PVC). Acetylene is in high demand for its diverse applicability in various manufacturing processes such as making of plastic and synthetic rubber, pharmaceuticals, and oxyacetylene welding. Furthermore, acetylene is also being utilized in various consumer products such as lotions, hairsprays, and sunscreens. The global calcium carbide market revenue will get a boost owing to the widespread demand for acetylene and its derivatives.

Fortune Business Insights profiles some of the key players in the global calcium carbide market:

• AlzChem
• PT Emdeki Utama Tbk
• Denka Company Limited
• Carbide Industries LLC
• KC Group
• American Elements
• Lonza
• DCM Shriram Ltd.
• Inner Mongolia Baiyanhu Chemical Co., Ltd.
• APH – Regency Power Group

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Key Segmentation:

By Application

• Acetylene Gas
• Calcium Cynamide
• Reducing and Dehydrating Agents
• Steel Making
• Others

By End User

• Chemicals
• Steel
• Others

By Geography

• North America (U.S. and Canada)
• Europe
• Asia Pacific (Japan, China, India, and Rest of Asia Pacific)
• Rest of World

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Press Release Distributed by The Express Wire

To view the original version on The Express Wire visit Calcium Carbide Market to Soar to USD 20.55 Billion by 2026 at a CAGR of 5.6%, Says Fortune Business Insights