Materials & Chemicals Market Research News

Industrial nitrogen market worth 19.96 billion USD by 2022

Materials & Chemicals Research

The industrial nitrogen market size is projected to grow from USD 15.03 Billion in 2017 to USD 19.96 Billion by 2022, at a CAGR of 5.83%. This market is witnessing considerable growth due to technological advancements in the industrial gases sector.

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The report "Industrial Nitrogen Market by Form (Liquid, Compressed), Technology (Cryogenic distillation, Membrane separation), Transportation (Cylinder, Bulk, Pipeline), End-use industry (Metal manufacturing, Food & beverage), and Region - Global Forecast to 2022"

Growing demand from end-use industries such as metal manufacturing & fabrication, food & beverages, and pharmaceutical & healthcare sector is the key factor driving the growth of the industrial nitrogen market.

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Cryogenic fractional distillation is projected to grow at the highest rate during the forecast period.

The cryogenic fractional distillation segment is projected to grow at the highest CAGR during the forecast period. Cryogenic fractional distillation is the most widely used technique for producing high-purity industrial gases such as oxygen, nitrogen, and argon on an industrial scale, as it is one of the most cost-effective and economical technology solutions for high production rate plants.

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The bulk mode of transportation & distribution is projected to grow at the highest rate during the forecast period.

The bulk segment is projected to be the fastest-growing mode of transportation over the next five years. Large volumes of gas are supplied by bulk deliveries, either as a cryogenic liquid or a high pressure gas into storage on customer sites.

When a large amount of industrial gas is required, bulk delivery is usually preferred as bulk systems provide the product safely and cost-effectively.

Asia Pacific accounted for the largest market share in 2017 and is projected to grow at the highest CAGR during the forecast period.

The Asia Pacific region accounted for the largest market share in 2017 and is projected to grow at the highest CAGR from 2017 to 2022. The market in China is expected to grow at the highest CAGR during the forecast period.

The growth in the Asia Pacific region is supported by the improving economic conditions, continuous improvements in government budgets, rising number of standards in building codes, positive demographic outlook such as the increasing population and rising per capita income, and the growing manufacturing industries in the region.

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The major players in the industrial nitrogen market include Praxair (US), Air Products and Chemicals (US), Air Liquide (France), Linde (Germany), and Taiyo Nippon Sanso (Japan). Other players in this market include Messer Group (Germany), Nexair LLC (US), and Gulf Cryo (Kuwait).

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