Nitrogen Market: Introduction
Nitrogen is a chemical compound that is colourless, odourless and it is widely utilized in the production of ammonia, nitric acid, cyanides, nitrates and oxides. Also, it is commonly used in fertilizer production, food and beverage sectors, as well as in the production of pharmaceutical medications like antibiotics. Nitrogen gas is being used in a variety of sectors for numerous purposes. Due to its cost-effectiveness owing to various process improvements, the usage of industrial nitrogen has grown in popularity across the world. Industrial nitrogen is a high-purity element that is obtained through the fractional refinement of air or mechanical severance. It is normally found in liquid or gaseous form, and it has been used in a variety of end-use processes such as chemicals, food and beverages, healthcare, agrochemicals, and metal production. The increasing population, specifically in the developing countries, has resulted in a substantial rise in the consumption of processed food products as well as the necessity to preserve their safety and quality.
Global Nitrogen Market Forecast:
The Global Nitrogen Market size was at US$ 19.96 Billion in 2022, and it is predicted that it will reach a valuation of US$ 31.41 Billion by the end of 2030 with an annual development rate (CAGR) of 5.83% between 2022 and 2030.
Global Nitrogen Market Overview:
The rise in the usage of nitrogen in the food and beverage industry is driving the Global Nitrogen Market progression. The Nitrogen market has witnessed substantial growth in various areas of the world owing to rapid progression in this end-use industry. The significant rise in the usage of nitrogen in the medicine manufacturing and health care industry in the developing, and developed countries is a prominent trend that is anticipated to positively influence the nitrogen market growth dynamics.
On the contrary, certain sectors across developing nations are facing high nitrogen production costs. As a result of this, the progression of the global Nitrogen market is likely to be hampered. Instead, rising demand for industrial nitrogen in the chemical industry is expected to create lucrative opportunities to the global market in the forthcoming years. Also, the market is anticipated to be driven by the continuous progression in cryogenic fractional distillation technology.
The global nitrogen market is anticipated to witness significant expansion over the forecast period. This high growth is credited to the rise in demand for improved food preservation technology.
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Global Nitrogen Market: Market Drivers
The global industrial nitrogen market’s growth is ascribed to the rising application of nitrogen in the food and beverages industry. The rapid strides have made this end-use industry grow in the market in various parts of the world.
The surge in the use of nitrogen in the healthcare industry and drug-making in emerging nations is a prominent trend that is expected to play a key role in the growth dynamics.
An upsurge in demand for industrial nitrogen in the chemical industry is projected to generate opportunities for the global market over the forecast period. Additionally, constant developments made in cryogenic fractional distillations technology is expected to fuel market expansion. An escalation in demand for improved food preservation technology is also anticipated to boost the global market during the forecast period.
The Key Market Segmentation of the Global Nitrogen Market:
This Research Report Categorized The Global Nitrogen Market Based on Form, Technology, Technology and Distribution, End-User and Geographical Landscape.
By Form:
- Compressed gas
- Liquid nitrogen
By Technology:
- Cryogenic fractional distillation
- Pressure swing adsorption
- Membrane separation
By Technology and Distribution:
- Bulk
- Cylinder & packed gas
- Tonnage/Pipeline
By End-User:
- Metal manufacturing & fabrication
- Oil & gas
- Petrochemical
- Pharmaceutical & healthcare
- Chemical
- Food & beverages
- Electronics
By Geographical Landscape:
- North America
- Europe
- Asia Pacific
- South America
- Middle East and Africa
Major Key Players in the Global Nitrogen Market Are:
- Praxair Inc
- Air Products and Chemicals,
- Air Liquide SA
- Linde Plc
- Taiyo Nippon Sanso,
- The Messer Group GmbH
- Nexair LLC
- Gulf Cryo,
- Emirates Industrial Gases Co. LLC,
- Universal Industrial Gases, Inc
- Yingde Gases Group Company,
- Aspen Air Corp.,
- Ellenbarrie Industrial Gases, Ltd
- Cryotec, Bhuruka Gases Limited,
- Sudanese Liquid Air Company,
- Cross Country Infrastructure Services Inc.,
- Canair Nitrogen Inc.,
- Bombay Oxygen Corporation Ltd, and
- Southern Industrial Gas Berhad.
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The Covid-19 Impact Analysis:
Globally, the COVID-19 pandemic has hampered the demand for industrial nitrogen across various applications. Several governments had to enforce strict lockdowns as a measure to limit the spread of the coronavirus. This is turn brought manufacturing operations to a halt owing to restrictions on supply and transportation, thus hindering the demand for industrial nitrogen.
Most key players operating in the global industrial nitrogen market are mainly tier I and tier II manufacturers and suppliers. The manufacture and supply chain facilities of these manufacturers have spread across various nations in Europe, North America, Asia Pacific, Latin America and the Middle East and Africa. The outbreak of the Covid 19 pandemic has severely affected the production output of many of these players. The demand and supply chain of industrial nitrogen has also been negatively impacted due to the COVID-19 pandemic.
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