What Has Driven the Growth of the Industrial Nitrogen Market in Recent Years?
The industrial nitrogen market has seen considerable growth due to a variety of factors.
• There has been prominent growth in recent years in the size of the industrial nitrogen market. It is projected to expand from a market size of $20.13 billion in 2024 to a value of $21.47 billion in 2025, showcasing a compound annual growth rate (CAGR) of 6.7%.
This significant growth during the historic period can be linked to factors such as increased industrialization, rising demand in the chemical industry, growth in metal manufacturing, and the food and beverage industry.
What is the Market Size Forecast for the Industrial Nitrogen Market?
The industrial nitrogen market is expected to maintain its strong growth trajectory in upcoming years.
• In the upcoming years, the industrial nitrogen market is predicted to witness substantial growth, with forecasts suggesting it will reach a market value of $28.16 billion in 2029, growing at a compound annual growth rate (CAGR) of 7.0%.
This growth during the projected period can be due to factors such as the evolving electronics industry, healthcare applications, energy sector developments, and environmental policies. Noteworthy trends prompting this growth in the forecast period comprise environmentally friendly nitrogen production, advancements in technology, increased usage in the pharmaceutical industry, on-site nitrogen generation, digitalization plus automation, and strategic alliances and partnerships.
What Are The Core Factors Supporting Growth In The Industrial Nitrogen Market?
The expansion of the food and beverage sector is positively impacting the industrial nitrogen market's growth. This industry frequently utilizes nitrogen in commercial food and drink production processes, using it in modified atmosphere packaging to maintain the freshness of industrial-scale-produced food products. The global economic recovery from the COVID-19 pandemic has been destabilized in the short term at least, due to the conflict between Russia and Ukraine. This conflict has triggered economic penalties on many nations, escalated commodity prices, and caused disruptions in the supply chain, influencing numerous markets worldwide. For example, as per the United States Department of Agriculture (USDA), a US-based Federal agency, food expenditures in 2022 escalated to 12.4%, positioning third after housing at 33.3% and transportation at 16.8%. There were increases in spending across various areas, including savings, food, transportation, insurance, and clothing compared to 2021. As a result, the burgeoning food and beverage industry is likely to drive the growth of the industrial nitrogen market in the upcoming period.
What Are The Major Segments Within The Global Industrial Nitrogen Market?
The industrial nitrogen market covered in this report is segmented –
1) By Form: Compressed Gas, Liquid Nitrogen
2) By Grade: High Purity, Low Purity
3) By Technology: Cryogenic Fractional Distillation, Pressure Swing Adsorption, Membrane Separation
4) By Transportation And Distribution: Bulk, Cylinder And Packed Gas, Tonnage Or Pipeline
5) By End Use Industry: Petrochemical, Oil And gas, Metal Manufacturing And Fabrication, Food And Beverage, Electronics, Pharmaceutical And Healthcare, Chemical
Subsegments:
1) By Compressed Gas: High-Pressure Nitrogen Gas, Standard Nitrogen Gas
2) By Liquid Nitrogen: Dewar-Container Liquid Nitrogen, Bulk Liquid Nitrogen
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Which Trends Are Expected To Transform The Industrial Nitrogen Market?
Principal corporations in the industrial nitrogen market are prioritizing the introduction of novel technologies, such as nitrogen leaching observatory functions, to amplify their market viability. The ability to observe and map out nitrogen's dispersion through soil into groundwater or surface water is what constitutes nitrogen leaching monitoring. In an industrial environment, this observatory role may entail various analytical methods and surveillance systems to discern and quantify nitrogen levels in wastewater, soil, and water bodies, thereby ensuring minimal environmental impact and compliance with regulatory standards. For example, in August 2022, CropX Technologies, Ltd., a firm based in Israel engaged in advancing and supplying digital solutions geared towards precision agriculture, released a nitrogen leaching monitoring feature. This development is crucial for efficient agricultural and environmental management as it permits exact calculation and supervision of nitrogen transportation in the soil. It's a vital component of environmental control, particularly in farming, where surplus nitrogen can trigger water pollution and other ecological problems.
Who Are the Key Players in the Industrial Nitrogen Market?
Major companies operating in the industrial nitrogen market include:
• Praxair Technology Inc.
• Air Products And Chemicals Inc.
• Air Liquide S. A.
• Linde plc
• Nippon Sanso Holdings Corporation
• Cryotec Anlagenbau GmbH
• Bhuruka Gases Limited
• Sudanese Liquid Air Co. Ltd.
• Canair Nitrogen Inc.
• The Messer Group GmbH
• Nexair LLC
• Gulf Cryo
• Southern Industrial Gas Sdn. Bhd.
• Universal Industrial Gases Inc.
• Yingde Gases Group Company
• Ellenbarrie Industrial Gases Ltd.
• Bombay Oxygen Corporation Ltd.
• Emirates Industrial Gases Co. LLC
• Chengdu Taiyu Industrial Gases Co. Ltd.
• Aspen Air Corporation
• Cryomech Inc.
• MVS Engineering Pvt. Ltd.
• Cryogenic Industries Inc.
• AMCS Corporation
• Statebourne Cryogenics Ltd.
• Asia Industrial Gases Pte. Ltd.
• Sutton-Garten Co.
What Is The Most Dominant Region In The Industrial Nitrogen Market?
Asia-Pacific was the largest region in the Industrial Nitrogen market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial nitrogen market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
