The report’s authors have offered necessary details on the latest Industrial Nitrogen market trends and the crucial parameters impacting both short-term and long-term market growth. Its panoramic view of the Industrial Nitrogen market entails useful insights into the estimated Industrial Nitrogen market size, revenue share, and sales distribution networks. Such helpful market insights are bound to help readers outline this industry’s key outcomes in the near future.
The industrial nitrogen market is expected to reach value of USD 29.36 Billion by 2027, according to a current analysis by Emergen Research. Liquid nitrogen is widely used in packaging of medical products as it helps to ensure and maintain product sterility. High purity nitrogen gas is introduced into the packaging before it is sealed, thereby creating a sterile environment to preserve and protect products during transportation and storage. Test kits for doctors’ offices, blood supplies, specimen containers, and other medical devices are examples of products frequently packaged with nitrogen gas.
Nitrogen generators are systems that produce high quality nitrogen gas and are used in medical equipment in laboratories and hospitals. Nitrogen generators are safer to use and easier to handle than high-force cylinders. These generators can be sued to control the amount of oxygen in the workspace, laboratories, or an entire enclosed area. Nitrogen generators are highly productive and efficient, and create a supply of nitrogen from the surrounding air. Not only do these systems enhance safety of facilities, but also lower costs and enables higher sterility and levels of operations at laboratories.
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Key Points of The Reports-
- In October 2018, Linde Group and Praxair merged to become a single entity with a market cap of USD 90 Billion. The merger would further help to consolidate position in the nitrogen market by becoming a global force in terms of geographic footprint.
- In November 2020, Chart Industries, Inc. (NASDAQ: GTLS) completed the takeover of the Microbulk cryogenic tank intellectual property, equipment, and related assets from IC Biomedical (ICB). Additionally, the acquisition adds a new, efficient engineered food processing tank to Chart Industries’ specialty product offering. These tanks are used in food plants to push liquid nitrogen into the blending process of chicken nuggets.
- In 2019, Asia Pacific accounted for largest share of the global industrial nitrogen market revenue, and revenue share is projected to register the highest CAGR during the forecast period. Demand for industrial nitrogen for food processing and packaging applications has been rising as a result of increasing food demand driven by a rapidly growing global population in countries in this region, as well as growing disposable income, changing lifestyle, improving living standards among consumers, and rapid industrialization.
Regional Analysis-
The report sheds light on the region expected to dominate the Industrial Nitrogen market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of the Industrial Nitrogen market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East Africa. The regional analysis offers an idea about the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of prominent players in each region.
Key players operating in the market include Praxair, Air Products and Chemicals, Air Liquide, Linde, Taiyo Nippon Sanso, Cryotec, Bhuruka Gases Limited, Sudanese Liquid Air Company, Cross Country Infrastructure Services Inc., and Canair Nitrogen Inc.
For the purpose of this report, Emergen Research has segmented the global industrial nitrogen market based on form, production technology, distribution and transportation, end-use, and region:
Form Outlook (Revenue, USD Billion; Volume: Million Metric Tons; 2020-2027)
- Compressed
- Liquid
Production Technology Outlook (Revenue, USD Billion; 2020-2027)
- Cryogenic Fractional Distillation
- Pressure Swing Adsorption
- Membrane Separation
Distribution and Transportation Outlook (Revenue, USD Billion; 2020-2027)
- Cylinders
- Bulk
- Tonnage or Pipeline
End User Outlook (Revenue, USD Billion; 2020-2027)
- Metal Industry
- Food and Beverages
- Oil and Gas
- Chemical
- Electronics
Key point summary of the report:
- The report offers a comprehensive overview of the market size, share, and growth rate in the forecast duration.
- It provides details about current scenario, historical data, giving an accurate market forecast for the coming years.
- The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.
- It also offers regional market analysis and forecast for prominent geographies in the sector viz., North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
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