Industrial Nitrogen Market is Estimated to Reach USD 21 Billion by 2024 At a CAGR of 5.9%
The Global Industrial Nitrogen Market is estimated to reach USD 21 Billion by 2024 at a CAGR of 5.9%, states forencis research (FSR).
Nitrogen is a non-metal with no characteristic colour, odor, taste and is inflammable, soluble in water under normal conditions. It is abundantly present in the surrounding air (around 78%) and acts as a crucial element for survival for all living organisms. Nitrogen is the staple component in the manufacturing sector for packaging, blanketing, removing and stirring chemicals or metals, chemical handling and shipping. In addition, nitrogen is used to extinguish fire, pressurize devices and for freezing soil. Owing to these uses, it is used across various industries, to name a few, mining, pharmaceutical, healthcare, food and beverage, electronics, among others.
Industrial Nitrogen Market: Drivers & Restraints
Growing Demand for Nitrogen from The Chemical Process Industry
Owing to the wide application area and higher demand from the chemical process industry, industrial nitrogen market is growing at a steady pace. Nitrogen is considered as one of the most crucial gas in the chemical process industry owing to its higher functionality with reliable and convenient production methods. In industrial applications, nitrogen is widely used to purge the tanks, pipe and other industrial equipment’s. It is also used in blanketing and packaging of gases in order to avoid reaction between oxygen and other chemicals. Also, nitrogen gas finds application in the chemical process industry to remove any contamination from the industrial process by stripping and sparging.
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The rising need of nitrogen to carry out the essential chemical process is driving the market growth.
Rise in Demand from Food and Beverage Industry
Demand for industrial nitrogen is growing on the grounds of rising demand from the food and beverage sector. Nitrogen is widely used in the food and beverage sector for food aeration, packaging and storage in order to increase the shelf life of the food products. For winemaking, it is used for to prevent oxidation at the time of fermentation, which maintains the quality of the product. Rising demand for nitrogen in the modern food and beverage processing plants owing to the higher demand for preserved and processed food products across the globe is projected to boost the growth of the market in the upcoming future.
Regulations Imposed on the Industrial Nitrogen
Industrial nitrogen market growth is mainly hampered by the regulation imposed on the nitrogen emission. The nitrogen emission has emerged as an important environmental issue across the globe. Nitrogen is emitted in the form of nitrogen oxides from the power plants and industrial boilers, contributing immensely to air pollution. Rise in the flow of the reactive nitrogen across various industries for production of chemicals, fertilizer and other products, escalates the level of nitrogen related emissions. The regulation imposed by the regulatory authorities such as European Union (EU) for environmental protection, could impact the market growth negatively during the forecast period
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Industrial Nitrogen Market: Key Segments
- On The Basis of Type, The Market is Divided into: Liquid and Gas
- On The Basis of Production, The Market is Divided into: Fractional Distillation and Mechanical Generation
- On The Basis of Application, The Market is Divided into: Metal Operation and Fabrication, Refineries & Off Shore Platforms, Pharmaceutical, Food & Beverages, Semiconductor & Electronics and Others
- On The Basis of Geography, The Market Is Divided into: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.
List of the leading companies operating in the Industrial Nitrogen market include:
- Linde plc. (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Air Products and Chemicals, Inc.
- Messer Group
- Air Liquide S.A
- Praxair, Inc.
- Taiyo Nippon Sanso Corporation
- Parker-Hannifin Corporation
- Gulf Cryo
- Nexair LLC
- Emirates Industrial Gases Co. LLC
- Other Key Companies
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Industrial Nitrogen Market: Report Segmentation
For the scope of report, In-depth segmentation is offered by Forencis Research
Industrial Nitrogen Market, by Type
Industrial Nitrogen Market, by Production
- Fractional Distillation
- Mechanical Generation
- Membrane Filtration
- Pressure Swing Absorption (PSA)
Industrial Nitrogen Market, by Application
- Metal Operation and Fabrication
- Refineries and Off Shore Platforms
- Food and Beverages
- Semiconductor and Electronics
Industrial Nitrogen Market by Region
- Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
- North America (US, Canada, Mexico)
- Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
- Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
- South America (Brazil, Argentina, Rest of South America)
Key Questions answered by the report
- What are the major developments impacting the global market and its growth?
- What will be the effects of the developments in the global market on the industry and on the market players in the near and far future?
- What are the evolving types of the global market?
- What are the evolving applications of global market?
- What are the major characteristics that will affect the global market growth during the study period?
- Who are the key players operating in the global market?
- How are the major players leveraging in the existing market conditions?
Table of Content
- RESEARCH DESIGN & SCOPE
- EXECUTIVE SUMMARY
- MARKET DYNAMICS
- INDUSTRY TRENDS — PORTERS FIVE FORCES ANALYSIS
- INDUSTRIAL NITROGEN MARKET BY TYPE, Market Size in USD Million (2017–2024)
- INDUSTRIAL NITROGEN MARKET BY PRODUCTION, Market Size in USD Million (2017–2024)
- INDUSTRIAL NITROGEN MARKET BY APPLICATION, Market Size in USD Million (2017–2024)
- INDUSTRIAL NITROGEN MARKET BY REGION, Market Size in USD Million (2017–2024)
- COMPETITIVE LANDSCAPE
- COMPANY PROFILES
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