Industrial Nitrogen Market 2023 Growth Analysis - Air Liquide, Air Products & Chemicals, Aspen Air Corp

As per the report published by The Brainy Insights, the global industrial nitrogen market is expected to grow from USD 14.31 billion in 2020 to USD30.84 billion by 2028, at a CAGR of 9.40% during the forecast period 2021-2028.The Asia Pacific region led the global industrial nitrogen market with a market share of 32.5% in 2020. This was because of the growing population in the region, rapid industrialization, advances in the healthcare sector, and increased use of fertilizers containing ammonia in rural countries such as India to increase the soil fertility.

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Industrial Nitrogen Market Size by Form (Compressed Gas, Liquid Nitrogen), Technology (Cryogenic fractional distillation Pressure Swing Adsorption, Membrane Separation), Transportation & Distribution, End-use Industry, Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2021 to 2028.

Major players in the global industrial nitrogenmarket are Messer Group, Praxair Inc., Air Liquide, Air Products & Chemicals, Gulf Cryo, Aspen Air Corp, Ellenbarrie Industrial Gases, Nexair LLC, Taiyo Nippon Sanso Corporation, The Linde Group, Universal Industrial Gases and Yingde Gases Group Company among others.Nitrogen is an odorless, colorless, tasteless gas that makes up 78.09% (by volume) of the breathing air. It is non-flammable and does not support combustion. Nitrogen gas is slightly soluble in water and slightly lighter than air. The global industrial nitrogen market is increasingly driven by the increasing use of nitrogen in the food and beverage industry worldwide.

The form segment is divided into compressed gas and liquid nitrogen. The compressed gas segment emerged as the leader in the global industrial nitrogen market with a revenue of USD 8.87 billion in 2020. This was because nitrogen gas is an active element, it is used to store liquefied explosive and flammable materials in petroleum and is therefore widely used in many industries. Because it is an inert gas, it is also used in the production of stainless steel. The technology segment includes cryogenic fractional distillation, pressure swing adsorption and membrane separation. The cryogenic fractional distillation segment is projected to grow at a higher CAGR of around 11.1% during the forecast period as it is a cryogenic fractional distillation is a widely used technology in the production of high-purity industrial gases because it is a cost-effective and economical process for high production rate plants. The transportation & distribution segment is divided into bulk, cylinder & packed gas and tonnage/pipeline. The bulk segment is projected to grow at a higher CAGR of around 11.3% during the forecast period because bulk systems provide products safely and cost-effectively, large volumes of industrial nitrogen are supplied by bulk delivery. The end-use industry segment includes food & beverages, oil & gas, pharmaceuticals & healthcare, electronics, metal manufacturing & fabrication, chemical, petrochemical, and others. Increasing industrial nitrogen consumption from the chemical industry is a key factor that is expected to drive growth in target markets over the forecast period.

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The development of the healthcare industry with significant technological advances has the potential to drive the growth of the industrial nitrogen market in the future. However, in some regions, structural and regulatory frameworks may not support nitrogen production and hinder the market growth.

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