Global Industrial Nitrogen Market was valued US$ 15.02 Bn in 2018 and is expected to reach US$ 23.77Bn by 2026, at a CAGR of 5.91 % during a forecast period.
Rising application of nitrogen in the food and beverages industry is expected to drive the global industrial nitrogen market. Rapid developments made in this industry in various parts of the world are fueling the growth of the market. Rising use of nitrogen in the healthcare industry and in drug making in developing and developed regions is a remarkable trend that may play crucial role in the growth dynamics. On the other hand, various factors may hamper 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 face with high cost of production of nitrogen. This also hampers the return on investment for manufacturers.
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According to form, the compressed gas segment held the largest share in 2017, due to the fact that nitrogen gas finds wide application in a large number of industries as it is used to store petroleum liquefied explosive and flammable materials. As liquid form of nitrogen is majorly used as an ultimate coolant for various applications, especially food freezing.
The global industrial nitrogen market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in industrial nitrogen market.
Geographically, Asia Pacific industrial nitrogen market dominated globally in 2017, and is expected to maintain its position over the forecast period as well. This growth can be attributed to the increase in the regional population, rapid industrialization, various advancements made in the healthcare sector, and the rise in the usage of fertilizers containing ammonia in rural countries, such as India, to enhance soil fertility. The North American and European regions are likely to show a good rate of growth in this market over the forecast period. This can be due to the increasing metal production of metal and growing construction industry in both the regions. Furthermore, Latin American, and Middle Eastern and African industrial nitrogen markets are projected to register a significant rate of growth over the forecast time period.
This report will helps to decision makers and forecaster to focus on industrial nitrogen gas value at global level, regional level and company level. From a global viewpoint, this report represents overall Industrial Nitrogen Gas market size using analyzing historical data and future prospect. Furthermore, at company level, this report helps to focuses on the production capacity, ex-factory price, revenue, and market share for each manufacturer enclosed in this report.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global Industrial Nitrogen Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in Global Industrial Nitrogen Market.
Scope of Global Industrial Nitrogen Market
Global Industrial Nitrogen Market, By Form
• Liquid Nitrogen
• Membrane Separation
• Pressure Swing Adsorption
• Cylinder & packed gas
• Low Purity
• Oil & Gas
• Metal Manufacturing & Fabrication
• Food & Beverage
• Pharmaceutical & Healthcare
• Asia Pacific
• Middle East & Africa
• South America
• CanAir Nitrogen
• EPC Engineering & Technologies
• Chengdu Taiyu Industrial Gases
• Parker Hannifin
• Ellenbarrie Industrial Gases
• Universal Industrial Gases
• Praxair Technology
• Nexair LLC.
• Air Products and Chemicals
• Linde Group
• Air Liquide
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