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Industrial Nitrogen Market Analysis 2023: Market Growth Rate, Competitive Landscape And Top Opportunities
Industrial Nitrogen Market
The Business Research Company's Industrial Nitrogen Global Market Report 2023 identifies growth of the food and beverage industry as the major driver for the Industrial Nitrogen market's growth in the forecast period. The food and beverage industry uses nitrogen in commercial food and beverage production processes. It is used in modified atmosphere packaging to prolong the freshness of commercially manufactured food items.
The global industrial nitrogen market size will grow from $17.8 billion in 2022 to $18.99 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The industrial nitrogen market size is expected to grow to $24.27 billion in 2027 at a CAGR of 6.3%.
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Major competitors in the Industrial Nitrogen market are Praxair, Air Products and Chemicals, Air Liquide, Linde, Taiyo Nippon Sanso, Cryotec, Bhuruka Gases Limited, Sudanese Liquid Air Company.
A key trend in the Industrial Nitrogen market includes increasing mergers and acquisitions. For instance, in April 2022, Air Products, a US-based industrial gas company, acquired Air Liquide Emirates for Industrial Gases LLC (ALEMIR) and Orca Industrial Gases LLC for an undisclosed amount. The acquisition helps the company's growth strategy in the middle east. Air Liquide Emirates for Industrial Gases LLC (ALEMIR) is UAE-based industrial gases division of Air liquid.
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The Industrial Nitrogen market is segmented -
• By Form: Compressed Gas, Liquid Nitrogen
• By Grade: High Purity, Low Purity
• By Technology: Cryogenic Fractional Distillation, Pressure Swing Adsorption, Membrane Separation
• By Transportation And Distribution: Bulk, Cylinder And Packed Gas, Tonnage/Pipeline
• By End Use Industry: Petrochemical, Oil And gas, Metal Manufacturing And Fabrication, Food And Beverage, Electronics, Pharmaceutical And Healthcare, Chemical
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Industrial Nitrogen market.
The Business Research Company's "Global Industrial Nitrogen Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Industrial Nitrogen Market Include:
1. Executive Summary
2. Industrial Nitrogen Market Characteristics
3. Industrial Nitrogen Market Trends And Strategies
4. Industrial Nitrogen Market - Macro Economic Scenario
5. Industrial Nitrogen Market Size And Growth
……………………………………………………….
26. Africa Industrial Nitrogen Market
27. Industrial Nitrogen Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Industrial Nitrogen Market
29. Industrial Nitrogen Market Future Outlook and Potential Analysis
30. Appendix
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