ID: MRFR/CnM/4865-HCR | January 2023 | Region: Global | 100 Pages
Industrial Nitrogen Market is projected to be worth USD 39.96 Billion by 2030, registering a CAGR of 5.88% during the forecast period (2021 - 2028).
$39.96 Billion
5.88%
Asia-Pacific
2021-2028
Industrial Nitrogen Market Overview Industrial Nitrogen Market is projected to be worth USD 39.96 Billion by 2030, registering a CAGR of 5.88% during the forecast period (2021 - 2028). Ammonia, cyanides, nitric acid, nitrates, and oxides are all made from nitrogen, which is a colorless and odorless chemical element. It is widely utilized in fertilizer production, as well as a range of food and beverage industries, as well as the production of medicinal drugs like antibiotics. As a result of its higher process efficiency, nitrogen is being more widely used in the oil and gas industry for inertization, well stimulation, and drilling. In addition, the growing popularity of modified environment packaging solutions that substitute oxygen-containing air with nitrogen to reduce rancidity in the food and beverage industries will fuel industry growth in the future years. Factors such as its use as a retention agent in the food and beverage industries are fueling the market growth. The region's expanding population with high disposable incomes and developing industrialization, which would further pave the way for market growth, are expected to hinder the industrial nitrogen market's growth during the forecast period. Furthermore, its characteristics, such as extending the shelf life of foods and maintaining their freshness, increase the need for industrial nitrogen, which is expected to slow the overall market's growth. Technical developments in industrial gas are projected to open up a variety of opportunities for businesses in the industrial nitrogen market.Global Industrial Nitrogen Market Share, by End-Use Industry, 2017 (%)
Source: MRFR analysis
The global industrial nitrogen market has been segmented into five regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia-Pacific accounted for the largest share of the global industrial nitrogen market in 2017. This can be attributed to rapid industrialization and expanding population in the region. Moreover, the advancements in the healthcare sector in this region are likely to boost the demand for industrial nitrogen in the coming years. Also, the increasing use of ammonia-based fertilizers in agrarian countries to increase the fertility of land is expected to drive market growth during the forecast period.
North America and Europe are the other significant markets for industrial nitrogen. The growth of the metal production and construction industries in these regions are likely to drive the growth of the industrial nitrogen market. Lastly, the markets in Latin America and the Middle East & Africa are estimated to witness substantial growth during the forecast period.
The global industrial nitrogen market has been segmented on the basis of process, type, end-use industry, and region.
Based on process, the global industrial nitrogen market has been divided into fractional distillation, membrane separation, and pressure swing adsorption (PSA).
Based on type, the global industrial nitrogen market has been classified as compressed gas and liquid.
By end-use industry, the global industrial nitrogen market has been categorized as food & beverage, healthcare, agrochemicals, metal production, automotive, and others.
The global industrial nitrogen market has been studied with respect to five key regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Some of the leading players in the global industrial nitrogen market are the Linde Group (Germany), Air Products and Chemicals Inc. (US), Praxair Technology Inc. (US), Ellenbarrie Industrial Gases (India), Universal Industrial Gases, Inc. (US), CanAir Nitrogen Inc. (Canada), Messer Group GmbH (Germany), Parker Hannifin Corp. (US), Chengdu Taiyu Industrial Gases Co. (China), nexAir LLC (US), and EPC Engineering & Technologies GmbH (Germany).Recent DevelopmentFebruary 2022: Messer, the industrial gases giant, announced today the expansion of its China activities with the start-up of a new generator in Xiangtan, Hunan Province (7th March). The generator is located on the campus of Hunan Yuneng New Energy Battery Materials Co., Ltd. (Yuneng), a significant Messer customer that will get nitrogen from the remote-controlled on-site plant. Yuneng, China's largest maker of lithium iron phosphate (LFP) – the cathode material for lithium-ion batteries – has partnered with Messer since the company's first manufacturing facility in Xiangtan opened in 2016.
Recent Development
Report Attribute/Metric | Details |
---|---|
Market Size | 2030: Significant Value |
CAGR | 2030: Substantial CAGR |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Historical Data | 2019 & 2020 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Process, Type, End-Use Industry |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | Linde Group (Germany), Air Products and Chemicals Inc. (US), Praxair Technology Inc. (US), Ellenbarrie Industrial Gases (India), Universal Industrial Gases, Inc. (US), CanAir Nitrogen Inc. (Canada), Messer Group GmbH (Germany), Parker Hannifin Corp. (US), Chengdu Taiyu Industrial Gases Co. (China), nexAir LLC (US), and EPC Engineering & Technologies GmbH (Germany). |
Key Market Opportunities | New product launches and R&D Amongst major key Players |
Key Market Drivers |
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Food & beverage, automotive, healthcare, agrochemicals, chemicals, and metal production, are the major end-use industries of industrial nitrogen.
Significant growth in the healthcare sector
Asia Pacific holds the largest share in the global industrial nitrogen market followed by North America and Europe, respectively.
Air Products and Chemicals Inc. (US), the Linde Group (Germany), Praxair Technology Inc. (US), Universal Industrial Gases, Inc. (US), Ellenbarrie Industrial Gases (India), CanAir Nitrogen Inc. (Canada), Parker Hannifin Corp. (US), Messer Group GmbH (Germany), Chengdu Taiyu Industrial Gases Co. (China), EPC Engineering & Technologies GmbH (Germany), and nexAir LLC (US), are some of the leading players in the global industrial nitrogen market.
Strategic initiatives such as mergers & acquisitions, collaborations, expansion, and technology/ product launch are some of the growth strategies that players operating in the global industrial nitrogen market adopt to gain a larger competitive advantage.