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Industrial Nitrogen Market to Reach 19.96 Billion USD by 2022 : Food & Beverage Industry to Dominate the Maximum Growth

10-09-2019 05:02 PM CET | Health & Medicine

Press release from: MarketsandMarkets.com

Industrial Nitrogen Market to Reach 19.96 Billion USD by 2022 :

ndustrial Nitrogen Market is expected to reach USD 19.96 Billion by 2022. This market is witnessing considerable growth due to technological advancements in the industrial gases sector. Growing demand from end-use industries such as metal manufacturing & fabrication, food & beverages, and pharmaceutical & healthcare sector is the key factor driving the growth of the industrial nitrogen market.

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The industrial nitrogen market, by form, is segmented into compressed gas and liquid nitrogen. The compressed gas segment accounted for the largest share in 2016. The dominant position of this segment is owing to the fact that nitrogen gas finds wide application in a large number of industries as it is used to store petroleum liquefied explosive and flammable materials since it is an active element. As nitrogen is an inert gas, it is also used in the manufacturing of stainless steel.

The industrial liquid nitrogen market, by end-use industry, is segmented into food & beverages, pharmaceuticals & healthcare, electronics, metal manufacturing & fabrication, chemical, oil & gas, petrochemical, and others (construction, automotive, R&D, rubber, and plastic). The food & beverage segment accounted for the largest market share in 2017. Industrial nitrogen creates a dry atmosphere, so foodstuffs do not perish due to moisture. It is also used to maintain freshness and increase the shelf life of products, which helps in the packaging and storage of food & beverages is driving the demand for industrial nitrogen in this sector.

The major players in the industrial nitrogen market include Praxair (US), Air Products and Chemicals (US), Air Liquide (France), Linde (Germany), and Taiyo Nippon Sanso (Japan). Other players in this market include Messer Group (Germany), Nexair LLC (US), and Gulf Cryo (Kuwait).

Premium Insights of Study:

• Attractive Market Opportunities in the Industrial Nitrogen Market
• Asia Pacific Industrial Nitrogen Market
• Food & Beverage Industry is Projected to Dominate the Liquid Nitrogen Segment By 2022
• Metal Manufacturing & Fabrication Industry is Projected to Dominate the Compressed Gas Segment By 2022
• Cryogenic Fraction Distillation Technology Projected to Dominate the Market

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The report aims at estimating the size and future growth potential of the industrial nitrogen market across different segments form, transportation & distribution, technology, end-use industry, and region. It also provides detailed information regarding the main factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges). It aims to study the individual growth trends, prospects, and contribution of the various segments to the total market. The study also analyzes the opportunities in the market for stakeholders and details of the competitive landscape of market leaders. It also strategically profiles the key players and comprehensively analyzes their core competencies.

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MarketsandMarkets™ INC.
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