Industrial Nitrogen Market Top Companies
The major players operating in the global industrial nitrogen market include Air Products and Chemicals, Inc.; Axcel Gases; Dubai Industrial Gases; Ellenbarrie Industrial Gases Ltd; Gulf Cryo; Linde plc; Messer Group; nexAir; Omega Air; Parker Hannifin Corp.; Praxair; Southern Industrial Gas; Taiyo Nippon Sanso; Universal Industrial Gases, Inc.; and Yingde Gases Group.
According to a new report published by Allied Market Research, the industrial nitrogen market was valued at $3.47 billion in 2021, and is estimated to reach $5.71 billion by 2031, growing at a CAGR of 5.2% from 2022 to 2031.
Asia-Pacific was the highest revenue contributor, accounting for a CAGR of 6.2%. China was the highest revenue contributor, accounting for CAGR of 6.8%.
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By form, the compressed gas segment was the highest revenue contributor to the market in 2021.
By application, the food & beverages segment was the highest revenue contributor to the market in 2021.
The market is categorized into metal manufacturing & fabrication, oil & gas, pharmaceutical & healthcare, chemical, food & beverage, electronics, and others.
The industrial nitrogen market size is provided in terms of revenue.
The industrial nitrogen market analysis includes top players and regions operating in the market.
The report outlines the current industrial nitrogen market trends and future scenario of the market from 2022 to 2031 to understand the prevailing opportunities and potential investment pockets.
The growth of the global industrial nitrogen market is majorly attributable to its wide applications in various industries such as pharmaceutical & healthcare, oil & gas, metal manufacturing & fabrication, food & beverage, electronics, and chemical.
Nitrogen liquid is used to maintain flammable or explosive substances and liquids away from air. Certain chemicals, solid surfaces, and stored food products have qualities that must be safeguarded from degradation caused by environmental oxygen and moisture.
Nitrogen is used in the manufacturing of steel and other metals to treat the melt and as a shield gas in the heat treatment of iron, steel, and other metals. It is also utilized as a process gas in conjunction with other gases for carbonization and nitriding reduction.
Nitrogen is used in large quantities to anneal stainless steel and other steel mill products. Annealing is a thermal treatment that improves steel processing.
In regions such as North America, Europe, Asia-Pacific, and LAMEA, industrial nitrogen is used as a metal manufacturing & fabrication, oil & gas, pharmaceutical and healthcare, chemical, and food & beverage. Because of the importance of liquid nitrogen and compressed nitrogen following the COVID-19, industrial nitrogen is primarily used in health care & pharmaceutical industry and hence positively impacting the industrial nitrogen market growth during the pandemic.
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Nitrogen is a non-metallic element employed in multiple industrial manufacturing processes. Gaseous nitrogen is used in food processing, brewery, beverage, oil & gas recovery, and other applications owing to its inert nature.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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