Global Industrial Nitrogen Market: Overview
Nitrogen gas is used in wide variety of applications in diverse industries. The industrial usage of nitrogen has gained widespread traction across the globe from the cost-effectiveness with which its onsite generation has been made possible. Improvements in process have made industrial nitrogen an affordable solution for a wide range of industries. Some of the key application industries include pharmaceutical, food packaging, metals manufacturing, petroleum, materials, and chemical plants. The characteristics of nitrogen gas to displace aoxygen or eliminate oxygen, most notably in mining, food packaging, and chemical plants drives its uptake. Nitrogen for industrial use can be produced through numerous methods such as fractional distillation, polymeric membrane, and pressure swing adsorption. Industry players are making continuous efforts in increasing the efficiency of these processes, thereby helping in the steady evolution of the industrial nitrogen market.
The study takes a closer look at the emerging application areas, current avenues in various regions, and the prevailing strategic dynamics. The insights, estimations, and segments offered in the study are helpful for stakeholders to gain better overall insight into the growth trajectories of the global industrial nitrogen market during the assessment period (2018–2026).
Global Industrial Nitrogen Market: Trends and Opportunities
The global industrial nitrogen market is increasingly propelled by the rising application of nitrogen in the food and beverages industry world over. Rapid strides made in this end-use industry in various parts of the world are bolstering the expansion of the market. Rising use of nitrogen in the healthcare industry and in drug making in developing and developed regions is a notable trend that may play pivotal role in the growth dynamics. However, various factors may hinder the steady expansion of the global market. In several regions, structural and regulatory frameworks are not conducive for the production of nitrogen. Moreover, several parts of developing economies still grapple with high cost of production of nitrogen. This also hampers the return on investment for manufacturers.
Developed markets such as those of North America and Europe may witness maturing demand for industrial nitrogen and thus may offer unattractive incremental opportunities during the assessment period. On the other hand, rising demand in the chemical industry is expected to offer rapid strides to the global market at least over the next few years timeline. Furthermore, constant advances made in cryogenic fraction distillation technology will keep the market lucrative. Moreover, the rising demand for better food preservation technology will also keep the market in sweet spot over the assessment period.
Global Industrial Nitrogen Market: Regional Outlook
The study offers critical assessment of the prospects of various regional markets and the trends that will underpin new sources of revenue in emerging markets. Regionally, Asia Pacific might hold a vast potential in the global market in the coming few years. The growth in the regional market is expected to be propelled by the swift pace of industrialization, especially the growth in end-use industries such as in food and beverages. Moreover, the adoption of better methods of nitrogen production also reinforces the prospects of this regional market.
Global Industrial Nitrogen Market: Competitive Landscape
The report takes a closer look at the prevailing competitive dynamics and the changes in key strategies expected to influence the degree of competition in the coming years. Some of the prominent players operating in the global industrial nitrogen market are Nexair LLC, Messer Group, Taiyo Nippon Sanso, Air Liquide, and Praxair India Private Limited.