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Calcium Carbide Market share will witness significant growth over 2023–2032, owing to a rise in steel and chemical production. Calcium carbide is an industrial chemical comprising the elements carbon and calcium. Also known as calcium acetylide, the chemical is used extensively in industrial applications, such as producing calcium hydroxide and acetylene.
One of the key factors propelling the calcium carbide market growth throughout 2023–2032 is the growing use of acetylene gas in various industrial applications. The product is used in oxy-acetylene welding, which relies on fuel gas and oxygen combustion. Known as gas welding, this process is used largely for the welding of thin metal sections, as well as for heating applications such as releasing frozen nuts and bolts, soft soldering, and heating heavy stock for bending. The emergence of this process is driving up the need for acetylene gas, which will boost industry share, given the chemical's key role in acetylene production.
Major disruptions in supply chains, expensive labor costs, and rise in raw material costs in the period of inflation would impact the demand for calcium carbide in the coming years, eventually affecting the market prospects.
The calcium carbide market value is set to gain considerable momentum from the metal fabrication segment by 2032. This is on account of the chemical's strong potential as a chemical-reducing agent and energy source, which allows it to generate significant cost savings in metallurgical applications. In steelmaking, for instance, calcium carbide plays an important role as a modifier to the slag or hot metal desulfurized to increase the efficiency of the desulfurization process and meet the need for low-sulfur steels in specialty applications and modern continuous casting operations.
Asia-Pacific calcium carbide market will register commendable growth through 2032, given the robust growth of steel production in various nations. China is one of the leading producers of steel in the world. As of 2022, China’s steel production capacity stood at 1.2 billion tons annually, with an annual consumption of nearly 1 billion tons. Constantly increasing steel production in the country will indirectly favor the market for calcium carbide.
Likewise, the steel consumption in India is likely to increase to 230 million tons over 2030 to 2031, from 133 million tons in FY22.
The calcium carbide market key players include MCB Industries, Denka, Praxair Technology (Linde plc), Aldon, Erdos Xinhua Silicon Metal Industries, APH Regency Power, SA Calcium Carbide, AlzChem, and others. These companies are focused on strategies such as expansions and, mergers & acquisitions to develop a strong footprint across the global market.
For instance, Nigu Chemie GmbH in Waldkraiburg announced merging with its parent company, AlzChem Trostberg GmbH. Following this merger, Nigu Chemie GmbH's business will be continued by AlzChem Trostberg GmbH, as will the "Nigu" brand, one of the most well-known in professional circles.