Report Overview
Product Overview
Nitrogen Market to surpass USD 54.9 billion by 2032 from USD 25.01 billion in 2021 at a CAGR of 7.4% in the coming years, i.e., 2022-32.
Nitrogen is a chemical element with the atomic number 7 and symbol N. It is a colorless, mostly odorless diatomic non-metal gas. It is also found in soil and water as nitrites and nitrates. These molecules are related to one another and are all a component of the nitrogen cycle. As a result of reactions in the nitrogen cycle, industrial enterprises generate large amounts of nitrogen, which raises the levels of nitrite and nitrate in the ground and water. It is used to make nitric acid, which is then converted into ammonia and used as fertilizer. For freezing and refrigerating operations, liquid nitrogen is used as a refrigerant. Liquid nitrogen is also used for the stable storage of biological materials, as well as the preservation of bodies and reproductive cells.
Market Highlights
The Nitrogen Market is expected to project a notable CAGR of 7.4% in 2032.
Owing to the improved process efficiency, nitrogen is predicted to be used more frequently in the oil and gas sector for good stimulation, and drilling, which is anticipated to be a key driver of growth for the industrial nitrogen sector. An additional factor driving the growth of the industrial nitrogen market is the increase in the use of industrial nitrogen in the food and beverage sector for modified environment packaging applications to replace oxygen-containing air with nitrogen and reduce mustiness.
Nitrogen Market : Segments
The Compressed Gas segment is expected to grow with a higher CAGR during 2022-32
Nitrogen market is categorized on the basis of Product Type into Compressed Gas and Liquid Nitrogen. In terms of revenue, the compressed gas segment dominated the world market for industrial nitrogen in 2021, and it is predicted to continue in the future as well. The main element of an industrial gas system is compressed nitrogen gas. The cryogenic fractional distillation, pressure swing adsorption, and membrane separation systems use both high-purity and low-purity gases. Throughout the forecast period, the demand for compressed nitrogen gas for membrane separation, pressure swing adsorption, and cryogenic fractional distillation cylinder systems is expected to increase significantly.
The Food & Beverage segment is expected to grow with a higher CAGR during 2022-32
Nitrogen market is categorized on the basis of End Use Industry into Petrochemical, Oil and Gas, Metal Manufacturing and Fabrication, Food and Beverage, Electronics, Pharmaceutical and Healthcare, Chemical, and Others. In 2021, the food and beverage industry dominated the global market for industrial nitrogen. To keep commercially produced food items fresher for longer, nitrogen is employed in modified environment packaging. It also benefits the packaging and storage of food and beverages by maintaining freshness and extending product shelf life.
Market Dynamics
Drivers
The Growing Food and Beverage Industry that needs Nitrogen to Increase Shelf Life
The nitrogen market is growing due to the expanding food and beverage sector. In the food and beverage business, nitrogen gas is frequently used to package food products. Nitrogen gas prevents oxygen from coming into contact with the food item, extending the shelf life of the food by preventing oxidation. This helps to maintain the quality of the food by preventing food deterioration. The need for nitrogen has significantly increased due to the growth of the food and beverage industry. Consequently, this helps the nitrogen industry to flourish.
Increasing Use of the PSA Technology to Produce Nitrogen Efficiently
Pressure swing adsorption (PSA) technology is being used more and more by industrial gas firms as a low-cost, highly effective way to manufacture nitrogen. Adsorption is the underlying principle of PSA systems. They are made up of adsorption tanks filled with carbon molecular sieves (CMS), which may take in carbon dioxide and any lingering moisture. By selectively adsorbing oxygen at high pressures, CMS permits nitrogen to pass through with the necessary level of purity. Utilizing PSA devices to generate nitrogen on-site is more economical than using classical cryogenic distillation or liquid nitrogen that has been stored.
Restraint
Lack of Safety Measures to Handle Nitrogen
The industrial nitrogen market growth is constrained by a lack of safety precautions taken when handling nitrogen in sectors like aerospace and steel production. In numerous manufacturing operations as well as the oil and gas industry, electronics, metalworking, and food processing, liquid nitrogen is used. Frequent exposure to liquid nitrogen can result in frostbite and severe cold burns. Furthermore, any nitrogen leak in a space with poor ventilation can seriously harm people and property.
Recent Developments
- Southern Industrial Gases was purchased by Air Liquide, a French multinational corporation that provides industrial gases and services, in October 2019 for an undisclosed amount. By acquiring Southern Industrial Gases Sdn Bhd, Air Liquide will be able to fill twice as many packaged gases in Malaysia.
- The Linde Group and Praxair, Inc. merged in October 2018 to form a new company with a market value of $90 billion. Shareholders of Praxair will be given one Linde plc share for every one of their Praxair shares as part of the agreement.
Nitrogen Market: Key Players
- Linde
- Air Liquide
- Parker Hannifin Corp.
- Praxair
- Air Products and Chemicals Inc
- Taiyo Nippon Sanso
- Messer Group
- Yingde Gases
- Hangzhou Hangyang
- Sichuan Qiaoyuan Gas
- Universal Industrial Gases
- nexAir LLC
- Ellenbarrie Industrial Gases
- Chengdu Taiyu Industrial Gases Co. Inc.
- Other Prominent Players
Nitrogen Market: Regions
Nitrogen market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. The Asia-Pacific region is anticipated to grow strongly during the projection period. It is predicted that North America will be the second-largest market for nitrogen. The region's market is anticipated to grow as a result of the increased use of nitrogen in agriculture. In 2020, the United States has planted about 93 million acres of corn. The demand for nitrogen in North America is therefore likely to increase due to this.
Impact of Covid-19 on Nitrogen Market
The demand for industrial nitrogen in various applications was restricted by the COVID-19 pandemic. Lockdown was imposed by many countries throughout the world as a precaution to stop the coronavirus from spreading. As a result, manufacturing processes slowed down and stopped, there were limitations on supply and transportation, and infrastructure deteriorated, which reduced the demand for nitrogen for commercial use.
Nitrogen is further segmented by region into:
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
- Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
Nitrogen report also contains analysis on:
Nitrogen Market Segments:
- By Product Type
- Compressed Gas
- Liquid Nitrogen
- By Application
- Commercial Use
- Industrial Use
- Science and Research
- By End Use Industry
- Petrochemical
- Oil and Gas
- Metal Manufacturing and Fabrication
- Food and Beverage
- Electronics
- Pharmaceutical and Healthcare
- Chemical
- Others
- Nitrogen Market Dynamics
- Nitrogen Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Value Chain of the Market
- Market Drivers and Restraints
Nitrogen Market Report Scope and Segmentation
| Report Attribute | Details |
| Market size value in 2021 | USD 25.01 Billion |
| Revenue forecast in 2032 | USD 54.9 Billion |
| Growth Rate | CAGR of 7.4% from 2022 to 2032 |
| Base year for estimation | 2021 |
| Quantitative units | Revenue in USD million and CAGR from 2022 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Product Type, Application, End Use Industry, and Region |
| Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Key companies profiled | Linde, Air Liquide, Parker Hannifin Corp., Praxair, Air Products and Chemicals Inc, Taiyo Nippon Sanso, Messer Group, Yingde Gases, Hangzhou Hangyang, Sichuan Qiaoyuan Gas, Universal Industrial Gases, nexAir LLC, Ellenbarrie Industrial Gases, Chengdu Taiyu Industrial Gases Co. Inc., and Other Prominent Players. |
Frequently Asked Questions (FAQ):
The Nitrogen market size was estimated at USD 25.01 Billion in 2021 and is expected to reach USD 54.9 Billion in 2032.
Nitrogen is a chemical element with the atomic number 7 and symbol N. It is a colorless, mostly odorless diatomic non-metal gas. It can be found in soil and water as nitrates and nitrites.
The Compressed Gas and Food and Beverage segments accounted for the larger share of the Nitrogen Market.
Key players in the Nitrogen market are Linde, Air Liquide, Parker Hannifin Corp., Praxair, Air Products and Chemicals Inc, Taiyo Nippon Sanso, Messer Group, Yingde Gases, Hangzhou Hangyang, Sichuan Qiaoyuan Gas, Universal Industrial Gases, nexAir LLC, Ellenbarrie Industrial Gases, Chengdu Taiyu Industrial Gases Co. Inc., and Other Prominent Players.
The key factor driving the growth of the industrial nitrogen market is the increase in the use of industrial nitrogen in the food and beverage sector for modified environment packaging applications to replace oxygen-containing air with nitrogen and reduce mustiness.
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