Market Size –
The industrial nitrogen market size has grown strongly in recent years. It will grow from $18.94 billion in 2023 to $20.26 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to growing industrialization, chemical industry demand, metal manufacturing, food and beverage industry.
The industrial nitrogen market size is expected to see strong growth in the next few years. It will grow to $26.09 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to expanding electronics industry, healthcare applications, energy sector, environmental regulations. Major trends in the forecast period include green nitrogen production, technological advancements, increased application in pharmaceuticals, on-site nitrogen generation, digitalization and automation, strategic collaborations and partnerships.
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Scope Of Industrial Nitrogen Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The growth of the food and beverage industry is contributing to the growth of the industrial nitrogen market. The food and beverage industry uses nitrogen in commercial food and beverage production processes. It is used in modified atmosphere packaging to prolong the freshness of commercially manufactured food items. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. For instance, the global food and beverage market size is expected to grow from $6,196.1 billion in 2021 to $8,641.0 billion in 2026. Hence, the growing food and beverage industry is expected to propel the industrial nitrogen market in the forecast period.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The industrial nitrogen market covered in this report is segmented –
1) By Form: Compressed Gas, Liquid Nitrogen
2) By Grade: High Purity, Low Purity
3) By Technology: Cryogenic Fractional Distillation, Pressure Swing Adsorption, Membrane Separation
4) By Transportation And Distribution: Bulk, Cylinder And Packed Gas, Tonnage/Pipeline
5) By End Use Inustry: Petrochemical, Oil And gas, Metal Manufacturing And Fabrication, Food And Beverage, Electronics, Pharmaceutical And Healthcare, Chemical
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Regional Insights –
Asia-Pacific was the largest region in the Industrial Nitrogen market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial nitrogen market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the industrial nitrogen market report are Praxair Technology Inc., Air Products And Chemicals Inc., Air Liquide S. A., Linde plc, Nippon Sanso Holdings Corporation, Cryotec Anlagenbau GmbH, Bhuruka Gases Limited, Sudanese Liquid Air Co. Ltd., Canair Nitrogen Inc., The Messer Group GmbH, Nexair LLC, Gulf Cryo, Southern Industrial Gas Sdn. Bhd., Universal Industrial Gases Inc., Yingde Gases Group Company, Ellenbarrie Industrial Gases Ltd., Bombay Oxygen Corporation Ltd., Emirates Industrial Gases Co. LLC, Parker Hannifin Corporation, Chengdu Taiyu Industrial Gases Co. Ltd., Aspen Air Corporation, Cryomech Inc., MVS Engineering Pvt. Ltd., Cryogenic Industries Inc., AMCS Corporation, Statebourne Cryogenics Ltd., Asia Industrial Gases Pte. Ltd., Rigaku Corporation, Sutton-Garten Co., RMA Armament Inc.
Table of Contents
1. Executive Summary
2. Industrial Nitrogen Market Report Structure
3. Industrial Nitrogen Market Trends And Strategies
4. Industrial Nitrogen Market – Macro Economic Scenario
5. Industrial Nitrogen Market Size And Growth
…..
27. Industrial Nitrogen Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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