Nitrogen Market to Record 11.4% CAGR Growth Through 2029 | Global Analysis Report

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Nitrogen Market Outlook: How is the Market Expected to Grow by 2025?
The market size of nitrogen has observed a quick expansion in the recent past. It is projected to escalate from a worth of $28.49 billion in 2024 to $31.52 billion in 2025, registering a compound annual growth rate (CAGR) of 10.6%. The historical growth of this market can be accredited to factors including the demand in agriculture, industrial uses, increasing population and urbanization, energy sector requirements, and biofuel production.

Nitrogen Market Forecast: What Size Will It Reach By 2029?
The market for nitrogen is predicted to significantly expand in the coming years, soaring to a value of $48.52 billion by 2029, with a compound annual growth rate of 11.4%. The anticipated evolution in the projection period is related to the progression towards renewable energy, growing attention to environmental legislation and emission reduction, development of global infrastructure, initiatives towards carbon capture and storage (ccs), and changes in agricultural approaches. Key trends to watch in the projection period involve market fluctuations in burgeoning economies, novel technological developments in nitrogen storage and transport, advancements in nitrogen production technology, a shift in focus toward onsite nitrogen generation, and worldwide expansions of nitrogen capacity.

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Which Key Market Drivers Will Shape Nitrogen Industry Trends in 2025-2029?
The expansion of the food and beverage sector is a significant contributor to the surge in the nitrogen market. Nitrogen gas plays a pivotal role in this industry, particularly in food packaging. By excluding oxygen contact from food items, it hinders food oxidation, thereby extending its longevity. This halts the food from spoiling and helps retain its quality. As per the data from a Statista study, the food and beverage sector is projected to see an 8.4% rise. The burgeoning food and beverage industry triggers an exponential increase in nitrogen gas demand, which in turn, reinforces the positive growth of the nitrogen market.

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What Are the High-Growth Segments in the Nitrogen Market?
The nitrogen market covered in this report is segmented -

1) By Product Type: Compressed Gas, Liquid Nitrogen
2) By Application: Commercial Use, Industrial Use, Science and Research
3) By End User Industry: Petrochemical, Oil And Gas, Metal Manufacturing And Fabrication, Food And Beverage, Electronics, Pharmaceutical And Healthcare, Chemical, Other End Use Industries

Subsegments:
1) By Compressed Gas: Industrial Grade Compressed Nitrogen, Medical Grade Compressed Nitrogen, Food Grade Compressed Nitrogen
2) By Liquid Nitrogen: Bulk Liquid Nitrogen, Packaged Liquid Nitrogen, Specialty Liquid Nitrogen For Cryogenic Applications

Which Global Trends Are Driving Nitrogen Market Expansion?
Industrial gas entities are progressively utilizing pressure swing adsorption (PSA) technology, a cost-efficient and supremely proficient method for nitrogen production. The function of PSA systems is based on the concept of adsorption and they include adsorption vessels filled with carbon molecular sieves (CMS), that have the ability to absorb carbon dioxide and remaining moisture. Under high-pressure conditions, the CMS selectively absorbs oxygen, thereby permitting nitrogen to pass through at the intended purity level. The onsite generation of nitrogen via PSA systems is more economically viable than the traditional cryogenic distillation or stored liquid nitrogen. PSA systems have the economical capability of nitrogen production at flowing rates ranging from less than 5,000 scfh to over 60,000 scfh with purities ranging from 95% to 99.9995%. Mahler AGS, a German-based onsite gas generation plant manufacturer, utilizes PSA systems for economical nitrogen production. Prominent industrial gas firms such as Linde, Air Products, Air Liquide, and Praxair employ PSA systems to augment nitrogen production.

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Who Are the Fastest-Growing Companies in the Nitrogen Industry?
Major companies operating in the nitrogen market include BASF SE, Dow Chemical Company, Nutrien Ltd., Mitsubishi Chemical Corporation, Linde plc, Air Liquide SA, Yara International ASA, Sumitomo Chemical Co. Ltd., DuPont de Nemours Inc., Air Products and Chemicals Inc., Sinochem Group Co. Ltd., CF Industries Holdings Inc., EuroChem Group AG, OCI Co. Ltd., Air Water Inc., Taiyo Nippon Sanso Corporation, UBE Industries Ltd., Messer Group GmbH, Shandong Hualu-Hengsheng Chemical Co. Ltd., Terra Nitrogen Company LP, Yingde Gases Group Co. Ltd., Praxair Technology Inc., Chengdu Taiyu Industrial Gases Co. Ltd.

What Is the Regional Outlook for the Nitrogen Market by 2029?
Asia-Pacific was the largest region in the nitrogen market in 2024. North America was the second-largest region in the global nitrogen market. The regions covered in the nitrogen market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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This release was published on openPR.