Industrial Nitrogen Market: Summary
The Global Industrial Nitrogen Market is estimated to reach USD 21 Billion by 2024 at a CAGR of 5.9 %, , states forencis research (FSR).
Nitrogen is a nonmetal with no characteristic color, odor, taste and is inflammable, soluble in water under normal conditions. It is abundantly present in the surrounding air (around 78%) and acts as a crucial element for survival for all living organisms. Nitrogen is the staple component in the manufacturing sector for packaging, blanketing, removing and stirring chemicals or metals, chemical handling and shipping. In addition, nitrogen is used to extinguish fire, pressurize devices and for freezing soil. Owing to these uses, it is used across various industries, to name a few, mining, pharmaceutical, healthcare, food and beverage, electronics, among others.
Market Drivers:
Owing to the wide application area and higher demand from the chemical process industry, industrial nitrogen market is growing at a steady pace. Nitrogen is considered as one of the most crucial gas in the chemical process industry owing to its higher functionality with reliable and convenient production methods. In industrial applications, nitrogen is widely used to purge the tanks, pipe and other industrial equipments. It is also used in blanketing and packaging of gases in order to avoid reaction between oxygen and other chemicals. Also, nitrogen gas finds application in the chemical process industry to remove any contamination from the industrial process by stripping and sparging.
The rising need of nitrogen to carry out the essential chemical process is driving the market growth.
Demand for industrial nitrogen is growing on the grounds of rising demand from the food and beverage sector. Nitrogen is widely used in the food and beverage sector for food aeration, packaging and storage in order to increase the shelf life of the food products. For winemaking, it is used for to prevent oxidation at the time of fermentation, which maintains the quality of the product. Rising demand for nitrogen in the modern food and beverage processing plants owing to the higher demand for preserved and processed food products across the globe is projected to boost the growth of the market in the upcoming future.
Market Restraints:
Industrial nitrogen market growth is mainly hampered by the regulation imposed on the nitrogen emission. The nitrogen emission has emerged as an important environmental issue across the globe. Nitrogen is emitted in the form of nitrogen oxides from the power plants and industrial boilers, contributing immensely to air pollution. Rise in the flow of the reactive nitrogen across various industries for production of chemicals, fertilizer and other products, escalates the level of nitrogen related emissions. The regulation imposed by the regulatory authorities such as European Union (EU) for environmental protection, could impact the market growth negatively during the forecast period
The report on the industrial nitrogen market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
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Report Features |
Specifics |
|---|---|
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Historical/Estimated/Forecasted Market Size Years |
2017-2024 |
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Base Year for Market Calculation |
2018 |
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Forecasted Period |
2019-2024 (2019 estimated year, forecasted up to 2024) |
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Measured Units |
Value (USD Million) Volume (Billion Cubic Feet) |
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Segments Included |
Production, Application and Region |
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Regional Coverage |
Asia-Pacific, North America, Europe, Middle East & Africa and South America |
For the scope of report, In-depth segmentation is offered by Forencis Research
Industrial Nitrogen Market, by Type
Industrial Nitrogen Market, by Production
Industrial Nitrogen Market, by Application
Industrial Nitrogen Market, by Region
1 INTRODUCTION
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Regional Coverage
1.5 Research Timeline
1.6 Assumptions
1.7 Limitations
2 RESEARCH DESIGN & SCOPE
2.1 Introduction
2.2 Primary Research
2.2.1 Key Industry Expert Insight
2.3 Secondary Research
2.3.1 Vital Data from Secondary Sources
2.4 Market Size Estimation
2.5 Data Validation & Triangulation
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Introduction
4.2 Drivers
4.2.1. Growing Demand for Nitrogen from Chemical Process Industry
4.2.2. Rise in Demand from Food and Beverage Industry
4.3 Restraints
4.3.1. Regulations Imposed on the Industrial Nitrogen
4.4 Opportunities
4.4.1. Advancement in Industrial Gases Processing
4.5 Challenges
4.5.1 High Production Cost of Industrial Nitrogen
5 INDUSTRY TRENDS – PORTERS FIVE FORCES ANALYSIS
5.1 Introduction
5.1.1. Power of Buyers
5.1.2. Power of Suppliers
5.1.3. Intensity of Competition
5.1.4. Challenges of Substitutes
5.1.5. Challenges of New Entrants
5.2 Macro-Economic Indicators
6 INDUSTRIAL NITROGEN MARKET BY TYPE, Market Size in USD Million (2017—2024)
6.1 Introduction
6.2 Liquid
6.3 Gas
7 INDUSTRIAL NITROGEN MARKET BY PRODUCTION, Market Size in USD Million (2017—2024)
7.1 Introduction
7.2 Fractional Distillation
7.3 Mechanical Generation
7.3.1 Membrane Filtration
7.3.2 Pressure Swing Absorption (PSA)
8 INDUSTRIAL NITROGEN MARKET BY APPLICATION, Market Size in USD Million (2017—2024)
8.1 Introduction
8.2 Metal Operation and Fabrication
8.3 Refineries and Off Shore Platforms
8.4 Pharmaceutical
8.5 Food and Beverages
8.6 Semiconductor and Electronics
8.7 Others
9 INDUSTRIAL NITROGEN MARKET BY REGION, Market Size in USD Million (2017—2024)
9.1 North America
8.1.1. US
8.1.2. Canada
8.1.3. Mexico
9.2 Europe
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. UK
8.2.5. Spain
8.2.6. The Netherlands
8.2.7. Rest of Europe
9.3 Asia-Pacific
8.3.1. China
8.3.2. Japan
8.3.3. India
8.3.4. South Korea
8.3.5. Taiwan
8.3.6. Rest of Asia-Pacific
9.4 Middle East & Africa
8.4.1. Saudi Arabia
8.4.2. UAE
8.4.3. Rest of Middle East
9.5 South America
8.5.1. Brazil
8.5.2. Argentina
8.5.3. Rest of South America
10 COMPETITIVE LANDSCAPE
10.1 Introduction
10.2 Market Ranking/Share Analysis of Key Companies
10.3 Company Benchmarking
11 COMPANY PROFILES
11.1 Linde plc.
11.1.1 Company Overview
11.1.2 Financial Overview
11.1.3 Products/Solutions/Services Offered
11.1.4 Key Developments
11.1.5 SWOT Analysis
11.2 Air Products and Chemicals, Inc.
11.3 Messer Group
11.4 Air Liquide S.A
11.5 Praxair, Inc.
11.6 Taiyo Nippon Sanso Corporation
11.7 Parker-Hannifin Corporation
11.8 Gulf Cryo
11.9 Nexair LLC
11.10 Emirates Industrial Gases Co. LLC
11.11 Other Key Companies
12 APPENDIX
12.1 Key Industry Expert Insights
12.2 Primary Discussion Guide
12.3 Customization Options
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
