Nitrogen can be produced for industrial usage through different methods including polymeric membrane, fractional distillation, and pressure swing adsorption. Major application industries of industrial nitrogen are food packaging, pharmaceutical, petroleum, metal manufacturing, and chemical plants. The characteristic of nitrogen to displace oxygen primarily in food packaging, mining, and chemical plants is propelling the market growth.
For the purpose of analysis, the industrial nitrogen market scope covers form, application, and region. The report outlines the details about industrial nitrogen forms including compressed gas and liquid nitrogen. The use of industrial nitrogen in various end-use industries, including metal manufacturing and fabrication, oil and gas, pharmaceutical and healthcare, chemical, food and beverage, electronics, and others are analyzed in the report. Moreover, it analyzes the current market trends of industrial nitrogen across different regions such as North America, Europe, Asia-Pacific, and LAMEA and suggests the future growth opportunities.
The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. Value chain analysis for this industry, which includes R&D, components manufacturers, assembly, programming & testing, marketing & sales, customers, and post-sales services, is explained. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of the key players to increase their market share and sustain intense competition in the industry.
In addition, the report covers profiles of key industry participants such as Air Products and Chemicals, Inc.; Axcel Gases; Dubai Industrial Gases; Ellenbarrie Industrial Gases Ltd; Gulf Cryo; Linde plc; Messer Group; nexAir; Omega Air; Parker Hannifin Corp.; Praxair; Southern Industrial Gas; Taiyo Nippon Sanso; Universal Industrial Gases, Inc.; and Yingde Gases Group.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the industrial nitrogen market analysis from 2021 to 2031 to identify the prevailing industrial nitrogen market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the industrial nitrogen market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global industrial nitrogen market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Form
- Compressed Gas
- Liquid Nitrogen
By Application
- Food and Beverages
- Electronics
- Others
- Metal Manufacturing and Fabrication
- Oil and Gas
- Pharmaceutical and Healthcare
- Chemical
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Brazil
Key Market Players
- Air Products and Chemicals, Inc.
- Axcel Gases
- Dubai Industrial Gases
- Ellenbarrie Industrial Gases Ltd
- Gulf Cyro
- Linde Plc
- Messer Group
- nexAir
- Omega Air
- Parker Hannifin Corp.
- Praxair
- Southern Industrial Gas
- Taiyo Nippon Sanso
- Universal Industrial Gases, Inc.
- Yingde Gases Group
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Table of Contents
Executive Summary
According to the report, titled, “Industrial Nitrogen Market," the industrial nitrogen market was valued at $3.47 billion in 2021, and is estimated to reach $5.71 billion by 2031, growing at a CAGR of 5.2% from 2022 to 2031.Nitrogen is a non-metallic element employed in multiple industrial manufacturing processes. Gaseous nitrogen is used in food processing, brewery, beverage, oil & gas recovery, and other applications owing to its inert nature. The industrial use of nitrogen has gained traction worldwide due to its cost-effectiveness. Process improvements have made industrial nitrogen an affordable solution for various industries.
The growth of the global industrial nitrogen market is majorly attributable to its wide applications in various industries such as pharmaceutical & healthcare, oil & gas, metal manufacturing & fabrication, food & beverage, electronics, and chemical. Nitrogen liquid is used to maintain flammable or explosive substances and liquids away from air. Certain chemicals, solid surfaces, and stored food products have qualities that must be safeguarded from degradation caused by environmental oxygen and moisture. Cooling concrete with liquid nitrogen results in better-cured characteristics. When performing construction activities on soft, water-soaked ground, such as tunnel building beneath streams, liquid nitrogen can efficiently freeze the earth. Nitrogen is used in the manufacturing of steel and other metals to treat the melt and as a shield gas in the heat treatment of iron, steel, and other metals. It is also utilized as a process gas in conjunction with other gases for carbonization and nitriding reduction. Further, nitrogen is utilized in food preservation and in the electronics sector to make diodes and transistors. Nitrogen is used in large quantities to anneal stainless steel and other steel mill products. Annealing is a thermal treatment that improves steel processing.
Furthermore, nitrogen is required for manufacturing chemicals and resins. Nitrogen being a gas with exceptional inert properties is extensively employed in chemical industry for processes including prevention of oxidation of raw materials, preservation of chemicals, and prevention of combustion during storage of chemicals and for purging machines prior to and during the manufacturing process. Numerous chemical industries handle volatile and combustible chemicals. Nitrogen is used for elimination of oxygen which is a key concern as absence of oxygen largely alleviates the fire hazard. Consequently, the growing demand for industrial nitrogen in the chemical industry is anticipated to create ample growth opportunities for industrial nitrogen market in the coming years. However, high production costs of nitrogen is projected to hinder the expansion of the industrial nitrogen industry.
The industrial nitrogen market is segmented into form, application, and region. On the basis of form, the market is categorized into compressed gas, liquid nitrogen. On the basis of application, the market is categorized into metal manufacturing & fabrication, oil & gas, pharmaceutical & healthcare, chemical, food & beverage, electronics, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.The industrial nitrogen market share is analyzed across all significant regions and countries.
The major players operating in the global industrial nitrogen market include Air Products and Chemicals, Inc.; Axcel Gases; Dubai Industrial Gases; Ellenbarrie Industrial Gases Ltd; Gulf Cryo; Linde plc; Messer Group; nexAir; Omega Air; Parker Hannifin Corp.; Praxair; Southern Industrial Gas; Taiyo Nippon Sanso; Universal Industrial Gases, Inc.; and Yingde Gases Group.
COVID-19 Analysis
The COVID-19 pandemic has increased demand for industrial nitrogen from a wide range of end-use sectors including metal manufacturing & fabrication, oil & gas, pharmaceutical and healthcare, chemical, food & beverages and electronics. To protect again corrosion, metals are often coated with other metals and materials; nitrogen gas, used as a shielding gas, helps prevent oxidation so the metal manufacturing & fabrication is the greatest market for industrial nitrogen favorably impacting the worldwide industrial nitrogen market. However, health concerns were not taken seriously before the COVID-19 outbreak. Due to the COVID-19 outbreak, the health awareness among the populace has grown and the pharmaceutical health care sector has grown during the pandemic which is positively impacting the industrial nitrogen market during the pandemic.In regions such as North America, Europe, Asia-Pacific, and LAMEA, industrial nitrogen is used as a metal manufacturing & fabrication, oil & gas, pharmaceutical and healthcare, chemical, and food & beverage. Because of the importance of liquid nitrogen and compressed nitrogen following the COVID-19, industrial nitrogen is primarily used in health care & pharmaceutical industry and hence positively impacting the industrial nitrogen market growth during the pandemic.
Key Findings of the Study
- The report outlines the current industrial nitrogen market trends and future scenario of the market from 2022 to 2031 to understand the prevailing opportunities and potential investment pockets.
- The industrial nitrogen market size is provided in terms of revenue.
- The industrial nitrogen market analysis includes top players and regions operating in the market.
- By form, the compressed gas segment was the highest revenue contributor to the market in 2021.
- By application, the food & beverages segment was the highest revenue contributor to the market in 2021.
- By region, Asia-Pacific was the highest revenue contributor, accounting for a CAGR of 6.2%. China was the highest revenue contributor, accounting for CAGR of 6.8%.
Companies Mentioned
- Air Products and Chemicals, Inc.
- Axcel Gases
- Dubai Industrial Gases
- Ellenbarrie Industrial Gases Ltd
- Gulf Cyro
- Linde plc
- Messer Group
- Nexair
- Omega Air
- Parker Hannifin Corp.
- Praxair
- Southern Industrial Gas
- Taiyo Nippon Sanso
- Universal Industrial Gases, Inc.
- Yingde Gases Group
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 353 |
Published | July 2022 |
Forecast Period | 2021 - 2031 |
Estimated Market Value ( USD | $ 3.47 billion |
Forecasted Market Value ( USD | $ 5.71 billion |
Compound Annual Growth Rate | 5.1% |
Regions Covered | Global |
No. of Companies Mentioned | 15 |