Vancouver, British Columbia, Jan. 19, 2021 (GLOBE NEWSWIRE) -- The global industrial nitrogen market is forecast to be valued at USD 29.36 Billion by 2027growing at a CAGR of 5.7%, according to a current analysis by Emergen Research. Nitrogen gas is used in a wide range of applications and end-uses, some of which include laser cutting, food packaging, coffee production, chemicals, electronics, breweries, oil and gas industries, and laboratories. Some among the primary factors driving growth of industrial liquid nitrogen market include major improvements in industrial gas industry, surge in demand from various end-use industries such as metal cutting and fabrication, manufacturing, and food & beverages industry, and growing demand from pharmaceuticals and medical industry.
However, increasingly stringent safety regulations, and structural and regulatory restrictions are some factors expected to hamper market growth to some extent. High production cost and labor force risk driven by accidental leakage of gas are other factors to consider.
In addition, demand for nitrogen for applications in cryopreservation, cryotherapies, and in cryosurgeries for removing skin tags, moles, and treating skin cancer is expected to remain consistent over the forecast period. Wide applications in preserving blood in blood banks, food freezing, rubber and plastic deflashing and grinding, cooling, preserving of biological samples, metal treating, pulverization, and other temperature-associated applications is also expected to support demand and drive market growth.
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Companies Profiled in Industrial Nitrogen Market Report Include:Praxair, Air Products and Chemicals, Air Liquide, Linde, Taiyo Nippon Sanso, Cryotec, Bhuruka Gases Limited, Sudanese Liquid Air Company, Cross Country Infrastructure Services Inc., and Canair Nitrogen Inc.
Key Highlights of Report and Developments
- In January 2021, CIMC Enric Holdings announced that its subsidiary Zhangjiagang CIMC Sanctum Cryogenic Equipment Co., Ltd. recently initiated the Research & Development activity of liquid nitrogen biological containers for long-term cryogenic storage of vaccines, stem cells, plasma, embryos, and multiple tissues and organs for use in the biomedical industry.
- Asia Pacific accounted for 28.1% revenue share in the global market in 2019, and is expected to contribute to contribute significantly to market growth.
- Increasing metal production and growing construction industry in countries in Europe and Asia Pacific is resulting in rising demand for industrial nitrogen.
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For the purpose of this report, Emergen Research has segmented the global industrial nitrogen market based on form, production technology, distribution and transportation, end-user and regions as follows:
- Form Outlook (Revenue, USD Billion; Volume: Million Metric Tons; 2020-2027)
- Compressed
- Liquid
- Production Technology Outlook (Revenue, USD Billion; 2020-2027)
- Cryogenic Fractional Distillation
- Pressure Swing Adsorption
- Membrane Separation
- Distribution and Transportation Outlook (Revenue, USD Billion; 2020-2027)
- Cylinders
- Bulk
- Tonnage or Pipeline
- End User Outlook (Revenue, USD Billion; 2020-2027)
- Metal Industry
- Food and Beverages
- Oil and Gas
- Chemical
- Electronics
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- Regional Outlook (Revenue, USD Billion; 2020-2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest of MEA
- North America
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