Nitrogen Market was worth USD 28.61 billion in 2021 and is anticipated to record a CAGR of 4% over the forecast duration 2022-2030
Food processing, food packing, and flushing are just a few of the applications for nitrogen in the food and beverage business. Food aeration is one of the most popular uses of nitrogen gas in the food and beverage sector. Nitrogen packing is particularly common among other gases in terms of packaging. Modified Atmosphere Packaging frequently uses nitrogen (MAP). The application of MAP extends the shelf life of packaged foods. Nitrogen is used to drive oxygen out of the container. Companies that employ nitrogen in their packaging can grow their exports to foreign nations without risking food spoilage.
The chemical element nitrogen is found in the air we breathe. Nitrogen gas makes up 78 percent of all nitrogen compounds, making it the most plentiful element on the planet and the most dominant chemical in our atmosphere. Nitrogen does not react chemically with other elements in its pure form; it will only combust or even decompose at high temperatures to produce heat energy under extreme conditions. Nitrogen is hence suited for a variety of purposes, including feedstocks, fertilisers, explosives, rocket fuels, and food preservation.
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The extensive usage of liquid nitrogen as a chilling agent in various end-use industries such as food and beverage and pharmaceutical industries is a major factor driving the worldwide liquid nitrogen market. With fast modernisation, packaged food has become increasingly popular, and there is a growing worry about food preservation. Because liquid nitrogen is chemically inert, it is useful for cooling and freezing food products, extending their shelf life. Liquid nitrogen is also widely utilised in the medical and health-care industries to treat a variety of skin disorders. Liquid nitrogen is mostly supplied as an inorganic chemical, and demand for it is likely to rise during the projection period due to its wide range of applications.
Global Nitrogen Market- Segmental Analysis
By Product
- Compressed gas
- Liquid Nitrogen
By End Use
- Petrochemical
- Oil & Gas
- Metal Manufacturing & Fabrication
- Food & Beverage
- Chemical
- Electronics
- Pharmaceutical & Healthcare
- Others
By Application
- Commercial Use
- Industrial Use
- Science and Research
Global Nitrogen Market- Competitive Landscape
Key players constituting the competitive landscape of this business sphere are Air Liquide SA, Praxair Inc, Linde Group, Gulf Cryo, Emirates Industrial Gases Co LLC, Taiyo Nippon Sanso Corporation, NexAir LLC, Southern Industrial Gas Sdn Bhd, Messer Group, and Air Products and Chemicals Inc.
Notably, in October 2018, Praxair, Inc and The Linde Group merged to form Linde Plc. This decision was aimed at further consolidating the nitrogen market by emerging as a global leader in terms of sales and revenue as both the companies had stronghold foothold across several regions.
Apart from that, other noteworthy players are making similar strategic decisions to expand their reach in the overall market. Many companies are entering into partnerships, collaborations, mergers and are putting efforts in launching innovative techniques and products to strengthen their presence and emerge as global leaders in the sector.
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Key benefits of the report:
This study presents the analytical depiction of the global liquid nitrogen industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global liquid nitrogen market share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the global liquid nitrogen market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed global liquid nitrogen market analysis based on competitive intensity and how the competition will take shape in coming years.
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