iCrowdNewswire Jan 28, 2021 5:00 AM ET
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 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.
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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.
Calcium Carbide Market Drivers
Surging demand for calcium carbide across various end-use industries
Calcium Carbide Market is projected to spread at a substantial pace in the near future due to increasing demand from pharmaceuticals, cosmetics, plastics and steel industries. Calcium Carbide Market is also expected to occupy a major share in these industries owing to its applications such as producing acetylene, carbide lamps and cutting & welding. Moreover, increasing demand for calcium carbide for the use of energy and solid waste is the major that will drive this market. Furthermore, the growth in the agricultural and pharmaceutical sector is also contributing to the growth of the global Calcium Carbide market during the forecast period. For instance, in agriculture sector, CaC2 is used as a chemical in fruit ripening and for improving crop yields.
Growing demand for PVC across various end use sectors
The growing deployment of PVCs as a light weight product across automotive, construction, electronics, aviation, and packaging further propel the growth of Calcium Carbide market size during the forecast period. As PVC is produces from the reaction of calcium carbide, ethylene, and dichloroethane. The many beneficial properties of PVC like superior fire resistance, fire retardance, chemical resistance, and better mechanical strength further propels the growth of PVC, which in turn drives the growth of this market. Therefore, the surging demand for polyvinyl chloride across various industry verticals further propels the growth of the global calcium carbide market during the forecast period.
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Calcium Carbide Market Challenges
Harmful effects of calcium carbide ripen fruits on human health
Several countries use Calcium Carbide as an artificial ripening agent. Carbide ripened fruit on consumption causes several harmful effects on human health. CaC2 has cancer causing properties and also its consumption also causes stomach upset. Due to these harmful health effects several governing bodies has banned the use of calcium carbide to fruit ripens. For instance, in 2017 in India, the Punjab Food Authority (PFA) banned the use of calcium carbide – a chemical used for artificial ripening of fruits. This ban imposed is acts as a restraining factor to the growth of this market. For instance, in 2019, the Food Safety and Standards Authority of India (FSSAI) directed food safety commissioners in all States and UTs to prevent the use of banned substances like calcium carbide or acetylene gas. Furthermore, the growing awareness among consumers about the effects of calcium carbide on health is also restraining the growth of this market.
Calcium Carbide Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Calcium Carbide market report. Major players in the Calcium Carbide industry outlook are Carbide Industries, Denka, MCB Industries, Praxair Technology, SA Calcium Carbide, Aldon, AlzChem, APH Regency Power, DCM Shriram, and Erdos Xinhua Silicon Metal Industries, among others.
In 2017, Denka announced its decision to stop producing calcium carbide at its Omuta Plant by the end of December 2020 to reinforce operations related to the environment and energy. With Omuta Plant’s calcium carbide-related manufacturing facilities close, the company attributable to loss for the fiscal year ending March 31, 2018.
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.
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B. Boron Carbide Market
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