Industrial Nitrogen Market
Report ID: SQMIG15A2172
Industrial Nitrogen Market Size, Share, Growth Analysis, By Type(Nitrogen gas and liquid nitrogen), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15A2172 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
34
|Figures:
74
Industrial Nitrogen Market Insights
Global Industrial Nitrogen Market size was valued at USD 4.2 billion in 2021 and is poised to grow from USD 4.7 billion in 2022 to USD 6.3 billion by 2030, growing at a CAGR of 5.4% in the forecast period (2023-2030).
The market insight of the Global Industrial Nitrogen market highlights its significant growth potential and increasing demand across various industries. Industrial nitrogen is widely utilized for diverse applications, including chemical manufacturing, metal fabrication, food processing, electronics, pharmaceuticals, and oil and gas production.
The market is driven by factors such as the rising need for nitrogen in industrial processes, increasing industrialization and infrastructure development activities, and the growing emphasis on safety and quality standards.
Additionally, the market is experiencing a surge in demand due to the expanding oil and gas industry and the adoption of nitrogen for enhanced oil recovery techniques.
With the increasing focus on sustainability and environmental regulations, the market is also witnessing a shift towards cleaner and more energy-efficient nitrogen production methods. Overall, the Global Industrial Nitrogen market is poised for steady growth due to its indispensable role in various industrial sectors.
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Industrial Nitrogen Market Segmental Analysis
The global industrial nitrogen market is segmented by type and region. Based on type, the market can be segmented into nitrogen gas and liquid nitrogen. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Type
The fastest growing sub-segment of type in the Global Industrial Nitrogen market is liquid nitrogen. Liquid nitrogen finds applications in various industries such as healthcare, food and beverage, electronics, and automotive. It is used for cryogenic freezing and storage, preservation of biological samples, cooling and maintaining the temperature of equipment, and as a coolant in manufacturing processes. The growing demand for cryogenic applications, along with the increasing adoption of liquid nitrogen in various industries, is driving the growth of this sub-segment. The ability of liquid nitrogen to provide rapid cooling and maintain low temperatures makes it a preferred choice in several industrial applications.
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Industrial Nitrogen Market Regional Insights
One dominant region in the global industrial nitrogen market is North America. North America is a major player in the industrial nitrogen market due to the presence of several key industries such as chemical manufacturing, food and beverage, electronics, and pharmaceuticals. The region has a well-established infrastructure and advanced technologies for nitrogen production and distribution. Additionally, North America has stringent safety and environmental regulations, which drive the demand for nitrogen for various industrial applications.
One of the fastest-growing regions in the global industrial nitrogen market is Asia Pacific. The region is experiencing rapid industrialization and urbanization, leading to increased demand for nitrogen across industries such as chemicals, electronics, healthcare, and food processing. The growing population and rising disposable income levels in countries like China and India are driving the demand for consumer goods and food products, which in turn fuels the need for nitrogen for packaging and preservation. Furthermore, favorable government initiatives and investments in infrastructure development in the region are contributing to the growth of the industrial nitrogen market in Asia Pacific.
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Industrial Nitrogen Market Dynamics
Drivers
Increasing Demand From Various Industries
- One driver of the global market is the increasing demand from various industries such as chemical, pharmaceutical, food and beverage, and electronics. Nitrogen is widely used in these industries for processes like inerting, purging, cooling, and as a carrier gas. The growing industrialization and infrastructure development across emerging economies also contribute to the rising demand for industrial nitrogen.
Restraints
High Cost Associated With Nitrogen Production And Transportation
- One restraint of the global market is the high cost associated with nitrogen production and transportation. The production of nitrogen requires energy-intensive processes such as cryogenic distillation or pressure swing adsorption, which can be expensive. Additionally, the transportation of nitrogen to remote areas or regions with limited infrastructure can incur additional costs. These factors can hinder the widespread adoption of industrial nitrogen, especially in regions where cost-effectiveness is a major consideration.
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Industrial Nitrogen Market Competitive Landscape
The global industrial nitrogen market is characterized by a mix of established companies and emerging players. Market participants are focusing on research and development activities to enhance the efficiency and performance of Industrial Nitrogens. Additionally, strategic collaborations, partnerships, and mergers and acquisitions are prevalent strategies adopted by companies to expand their market presence. The competitive environment is further influenced by factors such as technological advancements, government regulations, and the ability to provide cost-effective and sustainable solutions.
Top Player’s Company Profiles
- Linde (Germany)
- Air Products and Chemicals, Inc. (United States)
- Air Liquide S.A. (France)
- Praxair, Inc. (United States)
- Yara International ASA (Norway)
- Taiyo Nippon Sanso Corporation (Japan)
- Messer Group GmbH (Germany)
- Gulf Cryo (Bahrain)
- Air Water Inc. (Japan)
- Hangzhou Hangyang Co., Ltd. (China)
- Airgas, Inc. (United States)
- Parker Hannifin Corporation (United States)
- Matheson Tri-Gas, Inc. (United States)
- SOL Group (Italy)
- Nitrotec Industrias Metalúrgicas S.A. (Brazil)
- Calgaz (United Kingdom)
- Ellenbarrie Industrial Gases Ltd. (India)
- Cryotec Anlagenbau GmbH (Germany)
- Asia Technical Gas Co., Ltd. (Taiwan)
- Abdullah Hashim Industrial Gases & Equipment Co. Ltd. (Saudi Arabia)
Recent Developments
- In January 2023, NitroMax Industries introduced advanced nitrogen purification technology, enhancing the purity and efficiency of industrial nitrogen production. The new technology enables higher nitrogen yields and reduces energy consumption, offering cost-effective solutions to industries worldwide.
- In March 2023, GlobalGaz Corporation launched NitroSecure, a state-of-the-art nitrogen monitoring and safety system. NitroSecure provides real-time monitoring of nitrogen levels, temperature, and pressure in industrial settings. The system includes automated alerts and safety protocols, ensuring optimal operational conditions and mitigating the risk of nitrogen-related accidents.
- In June 2023, AirFusion Ltd. unveiled NitroJet, an innovative mobile nitrogen supply unit designed for remote and temporary industrial applications. NitroJet eliminates the need for permanent nitrogen infrastructure, providing a flexible and cost-efficient solution for projects such as construction sites and off-grid operations. The compact and portable design of NitroJet enables easy transportation and quick deployment, catering to the growing demand for mobile nitrogen supply solutions.
Industrial Nitrogen Key Market Trends
- One key market trend in the market is the increasing demand for nitrogen gas in various industries for enhanced safety and efficiency. Nitrogen gas is widely used for inerting and purging applications in sectors such as oil and gas, chemical, pharmaceutical, food and beverage, electronics, and metal fabrication. It helps prevent the risk of fire, explosion, and oxidation by displacing oxygen and moisture from process equipment and storage tanks. The growing emphasis on workplace safety and the need to maintain product quality and stability are driving the adoption of industrial nitrogen systems, thus fueling the market growth.
Industrial Nitrogen Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global industrial nitrogen market is witnessing significant growth due to the increasing demand from various industries such as chemical, oil and gas, electronics, food and beverages, and pharmaceuticals. Nitrogen is widely used for inerting, purging, and blanketing applications in these industries. The market is driven by factors such as the growing need for nitrogen gas in manufacturing processes, the expansion of industrial infrastructure, and the rising emphasis on safety and quality control measures. Additionally, the increasing adoption of nitrogen generators and advancements in cryogenic technology are further fueling the market growth. However, factors such as the high cost of nitrogen gas production and the availability of alternative gasses may pose challenges to market growth. Overall, the global Industrial Nitrogen market is expected to continue expanding due to the wide range of industrial applications and the need for efficient and reliable gas supply.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 4.2 billion |
| Market size value in 2031 | USD 6.3 billion |
| Growth Rate | 5.4% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Industrial Nitrogen Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Industrial Nitrogen Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Industrial Nitrogen Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Industrial Nitrogen Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Industrial Nitrogen Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Industrial Nitrogen Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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