Industrial Nitrogen Market Research, 2031
The global industrial nitrogen market was valued at $3.47 billion in 2021, and is projected to reach $5.71 billion by 2031, growing at a CAGR of 5.2% from 2022 to 2031.
Nitrogen is an odorless and colorless chemical compound that is majorly used in the production of ammonia, nitric acid, cyanides, nitrates, and oxides. It is also utilized in various food & beverages industries, manufacturing of fertilizers and manufacturing of pharmaceutical drugs such as antibiotics.
The increase in use of nitrogen across the oil & gas industry for well stimulation, inertization, and drilling owing to its improved process efficiency is expected to serve as a crucial growth factor for the industrial nitrogen industry. Also, the rise in adoption of industrial nitrogen in the food & beverages industry for modified atmosphere packaging applications to displace oxygen-containing air with nitrogen and lower rancidity further propels the growth of the industrial nitrogen market. However, high production costs of nitrogen is anticipated to hamper the growth of the industrial nitrogen market. On the contrary, increased demand for industrial nitrogen in the chemical industry is expected to generate lucrative opportunities for the global industrial nitrogen market.
The global 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 and fabrication, oil and gas, pharmaceutical and healthcare, pharmaceutical and health care, chemical, food and beverages, 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. These players have been adopting various strategies to gain higher share or to retain leading positions in the market. For instance, in 2021, Ellenbarrie Industrial Gases Ltd., an integrated industrial and medical gases company, re-acquired 51% stake in the company for an undisclosed sum from Air Water Inc., a Japanese industrial gases Conglomerate.
Region-wise, Asia-Pacific is projected to register a robust growth during the forecast period. Nitrogen gas may be obtained and used in a variety of applications, ranging from food packaging to medicines in the region. China is the largest consumer of nitrogen, followed by India.
On the basis of form, the compressed gas segment dominated the global Industrial nitrogen market in terms of revenue, in 2021. Compressed nitrogen gas is one of the major components of industrial gas system. High purity and low purity gases are used in the system of cryogenic fractional distillation, pressure swing adsorption, and membrane separation. As compressed nitrogen gas is a cost-effective and economical process for high-production-rate facilities, cryogenic fraction distillation is a widely used technology in the production of high-purity industrial gases. The need for compressed nitrogen gas is predicted to rise in cylinder systems of cryogenic fractional distillation, pressure swing adsorption, and membrane separation throughout the forecast period.
On the basis of application, the food & beverages segment dominated the global industrial nitrogen market in 2021. Nitrogen is used in modified atmosphere packaging to keep commercially made food items fresher for longer. It is also used to extend product shelf life and retain freshness, which aids in the packing and storage of food and drinks.
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 & healthcare, chemical, food & beverages and electronics. To protect from 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 global industrial nitrogen market. However, health concerns were not taken seriously before the COVID-19 outbreak. Due to the COVID-19 outbreak, 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 & 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 during the pandemic.
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.
Industrial Nitrogen Market Report Highlights
| Aspects | Details |
 By Form |
|
 By Application |
|
 By Region |
|
 Key Market Players | Omega Air, Linde Plc, Dubai Industrial Gases, Yingde Gases Group, Air Products and Chemicals, Inc., Praxair, Messer Group, Universal Industrial Gases, Inc., Gulf Cyro, Parker Hannifin Corp., Southern Industrial Gas, nexAir, Ellenbarrie Industrial Gases Ltd, Axcel Gases, Taiyo Nippon Sanso |
Analyst Review
According to the perspective of the CXOs of leading companies, the industrial nitrogen market is anticipated to grow in near future due to its extensive use in applications such as oil & gas, metal manufacturing & fabrication, food & beverage, electronics, pharmaceutical & healthcare, chemical & other end-use industries. Also, surge in use of nitrogen in the food & beverages industry is driving the market growth during the forecast period. However, high production costs of nitrogen is projected to hinder the market growth. The Asia-Pacific region is projected to register a robust growth during the forecast period.
Asia-Pacific is the largest regional market for Industrial Nitrogen
The food & beverages is leading application of Industrial Nitrogen Market
The increase in use of nitrogen across the oil & gas industry for well stimulation, inertization, and drilling owing to its improved process efficiency is expected to serve as a crucial growth factor for the industrial nitrogen market. Also, the rise in adoption of industrial nitrogen in the food & beverages industry for modified atmosphere packaging applications to displace oxygen-containing air with nitrogen and lower rancidity is further propelling the growth of the industrial nitrogen market.
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.
The industrial nitrogen market was valued at $3.47 billion in 2021, and is projected to reach $5.71 billion by 2031, growing at a CAGR of 5.2% from 2022 to 2031.
Loading Table Of Content...
