Calcium Carbide Market Expected to Reach $18.2 Billion by 2030-Allied Market Research

According to a new report published by Allied Market Research, titled, “Calcium Carbide Market: Global Opportunity Analysis and Industry Forecast, 2021–2030,” The global calcium carbideunsaturated polyester resins market was valued at $11.3 billion in 2020, and is projected to reach $18.2 billion by 2030, growing at a CAGR of 5.0% from 2021 to 2030.

Calcium carbide (CaC2) is made by heating a lime and carbon mixture in an electric arc furnace between 2000°C and 2100°C (3632°F and 3812°F). Carbon reduces lime to calcium carbide and carbon monoxide (CO). When pure, calcium carbide (CaC2) is clear and colourless, having a specific gravity of 2.22 at 180°C. Calcium carbide is made in the lab by thermally decomposing pure calcium cyanamide in the presence of carbon under vacuum to create white calcium carbide. Calcium carbide is available in a variety of colours, ranging from steel grey to reddish brown, depending on impurities and manufacturing procedure.

Calcium carbide used in industry is around 80% pure. It produces acetylene gas when it reacts with water. The production of acetylene, the interaction with nitrogen to produce cyanamide, and the desulfurization of hot metal, cast iron, and steel are the three primary applications for calcium carbide. In the manufacturing of steel and ductile iron, calcium carbide is widely used as a desulfurization reagent.

Recovery of the steel industry is expected to drive the calcium carbide market during forecast period. Steel is used in the construction industry because of its exceptional qualities like ductility and durability. It aids in the construction of earthquake-resistant structures. The increased use of high-speed trains in nations like China, Japan, and India has resulted in the development of special rails, which has increased carbon steel usage. As a result, demand for crude steel is predicted to rise, pushing the calcium carbide market during the forecast period. During the projected period, the market is expected to be hampered by high raw application costs.

The global calcium carbide market size is segmented on the basis of application, end-use industry, and region. Based on the application, the global calcium carbide market is segmented into acetylene gas, calcium cyanamide, reducing & dehydrating agent, desulfurizing & deoxidizing agent, and others. The acetylene gas segment accounted for the largest share in 2020 and projected to witness growth at the highest CAGR of 5.1%.

Based on the end-use industry, the global calcium carbide market is segmented into chemicals, metallurgy, pharmaceutical, food, and others. The chemicals segment accounted for the largest share in 2020 and projected to witness growth at the highest CAGR of 6.6%.

Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the largest calcium carbide market share in 2020, while Asia-Pacific was the fastest growing region.

The global calcium carbide industry is consolidated in nature with a few players, such as Denka Company Limited, AlzChem, American Elements, Thermo Fisher Scientific, Carbide Industries LLC, KC Group, Merck KGaA, MCB Industries Sdn. Bhd., Mil-Spec Industries Corporation, and Santa Cruz Biotechnology, Inc., which hold significant share of the market. These players have been adopting various strategies to gain higher share or to retain leading positions in the market.

Impact Of Covid-19 On The Global Calcium Carbide Market

• COVID-19 has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
• Some of the major economies suffering from the COVID-19 crises include Germany, France, Italy, Spain, the UK, and Norway.
• Calcium carbide is primarily used in chemicals, industrial, and food. Online grocery sales are expected to account for 12.4% of all e-commerce sales in the U.S. by 2021.
• Calcium carbide is primarily utilized in the production of acetylene and other chemical compounds in industry. Calcium carbide is primarily used in the chemical and metallurgical industries.  The outbreak of COVID-19 has affected many manufacturing industries and general economic activities.
• The chemical industry has been impacted by the adoption of lockdowns in many nations and supply shortages. At the same time, the decline in economic activity has hampered infrastructure development, the introduction of new industries, and expansions, all of which have a negative influence on metal product demand, impacting the metallurgical industry.
• In many countries, the economy has dropped due to the halt of several industries, especially transport and supply chain. Demand for the product has been hindered as there is no development due to the lockdown.
• The COVID-19 epidemic has impacted negatively on the manufacturing and industrial industries due to a scarcity of resources in various parts of the world. The industry's top players are concerned about the market's prospects and are rethinking their strategies to meet the challenge.

Key Findings Of The Study

• On the basis of application, the acetylene gas segment emerged as the global leader by acquiring more than 79.3% of the market share in 2020, and is anticipated to continue this trend during the forecast period.
• On the basis of end-use industry, the chemical segment emerged as the global leader by acquiring more than 37.6% of the market share in 2020, and is anticipated to continue this trend during the forecast period.
• On the basis of region, Asia-Pacific is the major consumer of calcium carbide among other regions. It accounted for around 85.0% of the global market share in 2020.