Newark, Oct. 19, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 14.31 billion in 2020 global industrial nitrogen market will reach USD 30.84 billion in 2028. Nitrogen is utilised as fertiliser, usually in the form of compounds based on ammonia, and is crucial to many biological processes. While huge volumes of industrial nitrogen are supplied by cryogenic distillation, smaller quantities can be produced as a gas using pressure swing adsorption or diffusion separation techniques. From the food sector to the production of medicines, nitrogen is used in many industries. Industrial nitrogen has been a popular choice in a variety of industries, including but not limited to packaging in the food industry to prevent oxidation and food spoilage; nitrogen used to make transistors, circuits, and diodes; welding and metalworking to prevent the formation of oxides and waste compounds; nitrous oxide used as a propellant in jet fuel and professional motor racing.
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Key Insight of the Global Industrial Nitrogen Market
Asia Pacific will dominate the market during the forecast period.
The increase in industrialization and the number of people in the area with high disposable incomes are to blame for the demand for industrial nitrogen. An increase in end-use sectors, including food and beverage production, is expected to make Asia Pacific the region with the fastest growth during the forecast period. Additionally, developing improved nitrogen processing techniques frequently improves the outlook for this local industry.
In 2020, the compressed gas propellant segment dominated the market with the largest share of 62% and market revenue of 8.87 billion.
The form segment is divided into liquid nitrogen and compressed gas. In 2020, the compressed gas propellant segment dominated the market with the largest share of 62% and market revenue of 8.87 billion.
The cryogenic fraction distillation segment is projected to grow at a higher CAGR of 11.1% during the forecast period.
The technology segment includes cryogenic fractional distillation, pressure swing adsorption and membrane separation. The cryogenic fraction distillation segment is projected to grow at a higher CAGR of 11.1% during the forecast period.
The bulk segment is anticipated to grow at a higher CAGR of around 11.3% during the forecast period.
The transportation & distribution segment is divided into bulk, cylinder & packed gas and tonnage/pipeline. The bulk segment is anticipated to grow at a higher CAGR of around 11.3% during the forecast period.
In 2020, the food and beverage segment dominated the market with the largest market share of 22% and market revenue of 3.14 billion.
The end-use industry segment is divided into food & beverages, metal manufacturing & fabrication, pharmaceuticals & healthcare, oil & gas, chemical, petrochemical, electronics and others. In 2020, the food and beverage segment dominated the market with the largest market share of 22% and market revenue of 3.14 billion.
Advancement in market
First Solar and INOX Air Products (INOXAP) have a 20-year contract. To supply First Solar's new production plant in Pillaipakkam, Tamil Nadu, with high-purity nitrogen, the deal involves the design, engineering, installation, and operation of a cryogenic nitrogen generator. The facility of First Solar will receive nitrogen and other industrial gases from INOXAP's Cryogenic Nitrogen Generator, which will have a capacity of 2400 Nm3/hour. This collaboration supports the company's efforts to build a more sustainable future for the following generation. INOX Air Products was a wise choice as a partner for this project due to its experience in handling large-scale and complicated technical projects and safely and reliably providing industrial gases.
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Market Dynamics
Driver: booming food and beverage industry.
The booming food and beverage sector is a major growth driver for the worldwide industrial nitrogen market. The requirement to preserve the products' quality and safety has grown significantly along with the population, driving growing demand for food products. Nitrogen often helps keep food goods fresh by lowering the possibility of deterioration and discolouration. Over the anticipated period, it is anticipated that rising concerns about food safety and hygienic storage will further fuel this global market.
Restraints: Regulatory and structural frameworks.
The structural and regulatory environments in some areas do not support nitrogen production. Additionally, worries about the dangers of industrial nitrogen are impeding market expansion.
Opportunities: Rising Chemical Industry Demand.
Industrial nitrogen is employed in the chemical industry for various purposes, including cooling reactors, pressurising pipes to force liquid into them, and the extraction of volatile organic compounds from the process stream. Over the course of the projected period, the market will experience tremendous growth due to the chemical industry's rising demand for nitrogen.
Challenges: high production costs.
The high cost of producing nitrogen is a problem in many regions of developing countries. Additionally, mature industrial nitrogen demand may present a hurdle for the market during the projection period in developed markets like Europe and North America.
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Some of the major players operating in the global industrial nitrogen market are:
• Air Liquide
• Air Products & Chemicals
• Aspen Air Corp
• Ellenbarrie Industrial Gases
• Gulf Cryo
• Messer Group
• Nexair LLC
• Praxair Inc.
• Taiyo Nippon Sanso Corporation
• The Linde Group
• Universal Industrial Gases
• Yingde Gases Group Company
Key Segments covered in the market:
By Form
• Liquid Nitrogen
• Compressed Gas
By Technology
• Cryogenic Fractional Distillation
• Pressure Swing Adsorption
• Membrane Separation
By Transportation & Distribution
• Bulk
• Cylinder & Packed Gas
• Tonnage/Pipeline
By End-Use Industry
• Food & Beverages
• Metal Manufacturing & Fabrication
• Pharmaceuticals & Healthcare
• Oil & Gas
• Chemical
• Petrochemical
• Electronics
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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