Global Nitrous Oxide Market

Nitrous Oxide Market Size, Share, Growth Analysis, By Application(Medical, Electronics, Automotive, Food & Beverage), By Region - Industry Forecast 2024-2031


Report ID: SQMIG15A2304 | Region: Global | Published Date: February, 2024
Pages: 251 | Tables: 38 | Figures: 74

Nitrous Oxide Market Dynamics

Nitrous Oxide Market Driver

  • Growing Geriatric Population and Rise in Incidences of Chronic Diseases to Drive Market

Nitrous oxide is a colorless, odorless gas that is non-flammable. While nitrous oxide is not flammable, it will aid in combustion in the same way that oxygen does. It induces euphoria, which explains its nickname "laughing gas." Nitrous oxide has minimal effects on respiration and hemodynamics when compared to other anesthetic agents. It cannot be used as a sole anesthetic and is frequently combined with a more potent and volatile anesthetic. Nitrous oxide is a useful adjunct because of its analgesic and anesthetic properties. This activity describes the indications, mechanism of action, methods of administration, significant adverse effects, contraindications, monitoring, and toxicity of nitrous oxide so that providers can direct patient therapy to achieve the best possible outcomes in anesthesia and other conditions where it has therapeutic benefits are some of the major factors driving the demand of Nitrous Oxide during the analysis period.

  • Increased Nitrous Oxide use in Food & Beverage Industry

Food-grade Nitrous Oxide is a nitrous oxide used in the food industry and thus has the appropriate quality. This is because nitrous oxide has been purified and has a purity level of 99.7%. Nitrous oxide (Nitrous Oxide) in food grade is used in whipped cream chargers, among other things. In addition to this benefit, nitrous oxide (Nitrous Oxide) has antibacterial properties, making it useful in the food industry. As a result, the whipped cream can be stored in the refrigerator for up to 10 days. Another advantage is that the same amount of cream combined with nitrous oxide (Nitrous Oxide) increases the total volume by four times. The nitrous oxide gas is also known by its E-number: E942. This is because it is used as a substitute for Freon. Freon was originally used in refrigerators and spray cans, but it is no longer permitted because it can damage the ozone layer. This is driving the demand for Feron substitutes in the industry and Nitrous Oxide is made for the perfect substitute because of its properties. These are some of the major factors driving the demand for Nitrous Oxide in the food &beverage industry during the analysis period.

Nitrous Oxide Market Restraint

  • Risks and Uncertainties with New Production Innovation

Investments in the development of new methods for nitrous oxide production may involve significant risks and uncertainties. These could include technical challenges, regulatory hurdles, and market risks, such as changes in demand for nitrous oxide or shifts in economic conditions. It is important for investors to carefully evaluate the potential risks and rewards of investing in the development of new methods for nitrous oxide production.

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FAQs

Nitrous Oxide Market size was valued at USD 1.12 billion in 2019 and is poised to grow from USD 1.2 billion in 2023 to USD 2 billion by 2031, growing at a CAGR of 7.1% in the forecast period (2024-2031).

The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions. 'The Linde Group', ' Air Liquide S.A. ', ' Air Products and Chemicals, Inc. ', ' Praxair Technology, Inc. ', ' Matheson Tri-Gas, Inc. ', ' Messer Group GmbH ', ' SOL Spa ', ' Taiyo Nippon Sanso Corporation ', ' Iceblick Ltd ', ' Ellenbarrie Industrial Gases Ltd. ', ' AK Scientific, Inc. ', ' Promas Engineers Pvt. Ltd. ', ' Gujarat Fluorochemicals Limited ', ' Universal Industrial Gases, Inc. ', ' Sinopec Group ', ' Emirates Industrial Gases Co. LLC ', ' Nippon Steel Engineering Co., Ltd. ', ' Shaanxi Aerospace Power Hi-tech Co., Ltd. ', ' Airgas, Inc. ', ' NORCO, Inc. '

Growing Geriatric Population and Rise in Incidences of Chronic Diseases to Drive Market

Adoption of Nitrous Oxide use in Electronic Manufacturing

In 2021, North America region is expected to have the biggest share of the market. Over the forecast period, the region is positioned to present enormous potential. A contributing factor to the expansion of the regional market is the rising prevalence of chronic diseases such cancer, type 2 diabetes, stroke, heart disease, obesity, and arthritis. It serves as a gas carrier for generating potent general anesthesia. With production sites in Pensacola and Maitland in Florida, Ontario, Canada, and Mississippi, Airgas, a significant manufacturer and supplier, has a significant presence in North America.

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Global Nitrous Oxide Market

Report ID: SQMIG15A2304

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