Dublin, Dec. 06, 2024 (GLOBE NEWSWIRE) -- The "Nitrous Oxide - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.
The global market for Nitrous Oxide was estimated at US$1.5 Billion in 2023 and is projected to reach US$2.2 Billion by 2030, growing at a CAGR of 5.9% from 2023 to 2030.
The primary grades include medical grade, food grade, and industrial grade. Medical-grade nitrous oxide is widely used in hospitals, dental clinics, and ambulatory surgical centers for anesthesia and pain management. Food-grade nitrous oxide is primarily used in the food and beverage industry as a propellant, while industrial-grade nitrous oxide is used in automotive, chemical manufacturing, and electronics industries. In terms of end-use, the healthcare sector dominates due to its extensive use in anesthesia, while the food and beverage and automotive sectors also contribute significantly to demand.
How Is Nitrous Oxide Being Integrated Across Various Industries?
In healthcare, nitrous oxide is a popular choice for pain management during dental procedures, childbirth, and minor surgeries, owing to its rapid onset and minimal side effects. In the food and beverage sector, nitrous oxide is used as a propellant in whipped cream dispensers and in food packaging to preserve freshness. The automotive industry uses nitrous oxide to enhance engine performance, increasing power and acceleration during racing events. Additionally, the chemical industry employs nitrous oxide in the production of nitric acid, which is a key raw material for fertilizers, and in semiconductor manufacturing as an oxidizing agent. The diverse applications across sectors underscore the importance of nitrous oxide in both medical and industrial settings.
What Factors Are Driving the Growth in the Nitrous Oxide Market?
The growth in the Nitrous Oxide market is driven by several factors, including the increasing demand for effective pain management solutions in healthcare, particularly in dentistry, obstetrics, and minor surgical procedures. The expanding food and beverage industry, which uses nitrous oxide as a propellant and preservative, is also contributing to market growth. In the automotive sector, the rising popularity of racing and performance vehicles has spurred the demand for nitrous oxide as a performance enhancer.
Technological advancements in nitrous oxide production, along with its growing use in electronics and semiconductor manufacturing, are further boosting market expansion. Regulatory approvals for medical and food-grade nitrous oxide are also supporting its wider adoption across industries.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Medical Application segment, which is expected to reach US$1.9 Billion by 2030 with a CAGR of a 6%. The Automotive Application segment is also set to grow at 6.4% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $406.4 Million in 2023, and China, forecasted to grow at an impressive 5.3% CAGR to reach $344.1 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Questions Answered:
- How is the Global Nitrous Oxide Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Global Nitrous Oxide Market such as Air Liquide S.A., Airgas, Inc., Ellenbarrie Industrial Gases Ltd., KVK Corporation, Matheson Tri-Gas and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Some of the 43 companies featured in this Global Nitrous Oxide market report include:
- Air Liquide
- Airgas
- Ellenbarrie Industrial Gases
- KVK Corporation
- Matheson Tri-Gas
- Merck
- Messer
- Oxygen and Argon Works
- Praxair
- Promas Engineers
- SOL
- SS Gas Lab Asia
- The Linde Group
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 94 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $1.5 Billion |
| Forecasted Market Value (USD) by 2030 | $2.2 Billion |
| Compound Annual Growth Rate | 5.9% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- World Market Trajectories
- Global Economic Update
- Nitrous Oxide - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Rising Demand for Medical and Surgical Applications Spurs Growth in Nitrous Oxide Market
- Technological Advancements in Gas Storage and Delivery Systems Strengthen Business Case for Adoption
- Growing Focus on Pain Management and Anesthesia Expands Addressable Market
- Expansion of Nitrous Oxide in Dentistry, Labor, and Minor Surgeries Fuels Market Growth
- Increasing Adoption of Nitrous Oxide in Food and Beverage Industries for Whipped Cream and Beverage Dispensing Expands Market Opportunities
- Technological Innovations in Purity Levels and Gas Blending Propel Market Expansion
- Growing Use of Nitrous Oxide in Semiconductor Manufacturing Expands Market Potential
- Focus on Meeting Environmental Regulations and Safety Standards Strengthens Market for Nitrous Oxide
- Technological Advancements in On-Site Gas Generation and Portable Systems Propel Market Growth
- Increasing Focus on Integrating Nitrous Oxide Use with Sustainable Practices and Recycling Drives Adoption
- Expansion of Nitrous Oxide in Automotive Performance Enhancement and Recreational Use Expands Market Opportunities
FOCUS ON SELECT PLAYERS
- Air Liquide
- Airgas
- Ellenbarrie Industrial Gases
- KVK Corporation
- Matheson Tri-Gas
- Merck
- Messer
- Oxygen and Argon Works
- Praxair
- Promas Engineers
- SOL
- SS Gas Lab Asia
- The Linde Group
For more information about this report visit https://www.researchandmarkets.com/r/so5x9x
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