The Nitrogen Market is expected to reach USD 39.96 Billion during the forecast period at a 5.88% CAGR
The market is experiencing considerable growth due to the technology advancements as far as gases are concerned. Another contributing factor is the growing food & beverage and pharmaceutical industries.
Nitrogen is an odorless, colorless chemical element and is an important raw material in most industrial compounds. Nitrogen is mostly used in the form of fertilizers which are synthetically manufactured. Increased attention towards developing bio –based agrochemicals such as nitrogen fixation biofertilizers are expected to provide new opportunities for the growth of the Nitrogen market.
The Nitrogen market outlook has helped in segmenting Nitrogen on various factors. On the basis of form it can be segmented as compressed gas and liquid nitrogen. The compressed gas is the leader and is contributes maximum share in Nitrogen market. This is due to its use in large number of industries to store petroleum liquefied explosive.
The liquid nitrogen market is segmented into food and beverages, pharmaceuticals, healthcare, electronics, metal manufacturing and fabrication chemical, oil & gas, petrochemical, and others (construction, automotive, R&D, rubber, and plastic). Industrial nitrogen market is growing due to its feature that creates a dry atmosphere resulting in foodstuff being fresh and not perishing. Based on the end-user, nitrogen can be segmented into food and beverages, pharmaceuticals and healthcare, electronics and metal manufacturing & fabrication, chemical, oil & gas, petrochemical, and others (construction, automotive, R&D, rubber, and plastic). The food and beverage industry contributed for the largest market share in 2017.
The Nitrogen Market analysis reflects a clear growth in the forecast period. However factors such as structural and regulatory restrictions are hampering the growth of industrial nitrogen market. Furthermore, high cost of production and uncertain ROIs and growth unproductivity are also some factors effecting the market growth.
Key company profile in the Global Nitrogen Market report are Gulf Cryo (Al Huneidi Group Company), Emirates Industrial Gases Co., Messer Group, Praxair Inc. (Linde plc), nexAir, Southern Industrial Gas, Taiyo Nippon Sanso Corporation (Mitsubishi Chemical Holdings), Sudanese Liquid Air Company, Yingde Gases Group, and Universal Industrial Gases, Praxair (US), Air Products and Chemicals (US), Air Liquide (France), Linde (Germany), and Taiyo Nippon Sanso (Japan), Messer group (Germany), Nexair LLC (US) and Gulf Cyro (Kuwait).
North America is expected to have the largest market share and govern the market for liquid nitrogen during the forecast period. Asia-Pacific offers potential growth opportunities, as developing countries such as China and India are proposed to be emerging markets. This would make the Asia-Pacific region the fastest-growing market for liquid nitrogen. The growth of the liquid nitrogen market in this region is driven by factors such as the growth of the metal manufacturing & fabrication industry, rise in demand for electronic products from the rising population, and due to economic development.
Nitrogen is useful in all forms and plays a key role in the all key industries and is extensively used at various stages.
Nitrogen Market Scope
|Forecast Unit||Value (USD)|
|Segment Covered||End Users, Form, Applications, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and South Africa|
|Key Players Profiled||Praxair (US), Air Products and Chemicals (US), Air Liquide (France), Linde (Germany), and Taiyo Nippon Sanso (Japan), Messer group (Germany), Nexair LLC (US) and Gulf Cyro (Kuwait)|
Key segments of the Methanol Market
by End-Use, 2022-2030 (USD Million)
• Metal manufacturing & fabrication
• Oil & gas
• Pharmaceutical & healthcare
• Food & beverages
Form, 2022-2030 (USD Million)
Applications, 2022-2030 (USD Million)
• Sealants used as rubber roof repair
• Tubeless tire liners
Region Overview, 2019-2029 (USD Million)
• North America
o United States of America
o the Netherlands
o The United Kingdom
o Rest of Europe
o South Korea
o Rest of Asia-Pacific
• South America
o Rest of South America