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Global Nitrogen Market Will Surge to USD 21,700 Million by 2026
Global Nitrogen Market
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Nitrogen is a non-metallic chemical compound. It has no odor and is colorless and tasteless. Nitrogen is widely used in fertilizers, nylon, nitric acid, dyes, and explosives among others. Nitrogen naturally occurs in the human body. It is an essential element of amino acids, proteins, and nucleic acids. Nitrogen can be in gaseous form or liquid form. Liquid nitrogen is also known as cryogenic liquid and is used to transport food items and high-temperature superconductors.
The surging food & beverage industry is one of the major factors driving the global nitrogen market. Nitrogen is extensively used in the food & beverage sector for packaging, food aeration, and storage to increase the shelf life of the food products. Besides, in the wine industry, nitrogen is used to maintain the quality of the product by preventing the oxidation during the fermentation process. Moreover, the rise in the demand for fertilizers coupled with the growing production of grains is further projected to boost the adoption of nitrogen across the globe. According to the U.S. Bureau of Statistics, the application of nitrogen fertilizers was around 147.8 million metric tons worldwide, in 2014. However, the rising prices of nitrogen due to the increase in the cost of natural gas may hamper the market growth. Nevertheless, the surge in the use of nitrogen in the healthcare industry is likely to offer new opportunities to the market growth in the upcoming years. In the healthcare industry, nitrogen is used as a cryogen to preserve and freeze tissues, blood, and reproductive cells, and in drug making.
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Based on the type, the global nitrogen market is segmented into pharmaceutical grade, food-grade, and chemical grade. In 2019, chemical grade dominated the global nitrogen market, followed by food grade. Chemical grade nitrogen is widely used in various end-use industries such as metal manufacturing, electronics, and chemicals & petroleum among others. Additionally, the rising application of chemical grade nitrogen in chemical and metal manufacturing industries is likely to increase the demand for the chemical grade, thereby, propelling the overall market growth for nitrogen. Moreover, metal manufacturing is the dominating category of the global nitrogen market. In metal manufacturing, the nitrogen is used in large quantities for annealing stainless steel and other steel mill products. The food & beverage category of nitrogen is expected to grow significantly during the forecast period.
Geographically, the Asia Pacific region dominated the global nitrogen market and is projected to grow at the highest rate in the next few years as well. In the region, China was the largest contributing country to the regional nitrogen market, in 2019. The rapid growth in the construction industry has propelled the demand for metals like stainless steel, iron, and aluminum, which is further projected to escalate the consumption of nitrogen for metal manufacturing. Moreover, North America is anticipated to be the second-largest market for nitrogen. The rising application of nitrogen in the agriculture sector is expected to boost the market within the region. The U.S. has planted around 93 million acres of corn in 2019. Therefore, this is likely to drive the demand for nitrogen in North America.
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Some of the major players operating in the global nitrogen market are Linde, Air Liquide, Praxair, Air Products and Chemicals, Taiyo Nippon Sanso, Messer Group, Hangzhou Hangyang, CF Industries, and Nutrien among others.
This report segments the nitrogen market as follows:
Global Nitrogen Market: By Type Segmentation Analysis
Pharmaceutical Grade
Food Grade
Chemical Grade
Global Nitrogen Market: By Application Segmentation Analysis
Medical & Healthcare
Food & Beverages
Metal Manufacturing
Construction
Rubber & Plastic
Chemicals & Petroleum Uses
Others
Global Nitrogen Market: Regional Segmentation Analysis
North America
The U.S.
Canada
Europe
Germany
The UK
France
Spain
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
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