Industrial Nitrogen Market: Information by Process (Fractional Distillation, Mechanical Separation), Type (Compressed Gas, Liquid), End-Use Industry (Food & Beverage, Healthcare, Agrochemicals, Metal Production, Others), Region—Forecast till 2023
Air Products and Chemicals Inc. (US), Praxair Technology Inc. (US), Parker Hannifin Corp. (US), Linde Group (Germany), Universal Industrial Gases, Inc. (US), Ellenbarrie Industrial Gases (India), CanAir Nitrogen Inc. (Canada), Chengdu Taiyu Industrial Gases Co. (China), Messer Group GmbH (Germany), nexAir LLC (US), and EPC Engineering & Technologies GmbH (Germany).
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Aug 2018 YIG, the joint venture company between BIG, Thailand’s leading innovative industrial gas solution provider, and Yangon Industrial Gas Trading Co., Ltd., who is making the major industrial gas plant in Thilawa SEZ, Zone B, will provide the gaseous Nitrogen and Hydrogen to JMM, among other products throughout Myanmar
The influential success factors and players’ predilections are progressively escalating by the strategies being used by market competitors. The market transformation witnessed in terms of strategy creation and executions are changing the pace of the market. The gaps in the market are filled due to the execution of proper supply chain strategies.
The context for growth plans is fortified the market for potential new entrants. Furthermore, the development of new products and services will add further impetus to the market growth. The improvement in the products and services is the chief factor escalating the market’s efficiency and controlling the trends that are acquiring prominence in the market.
Industrial Nitrogen Market to Observe Significant Expansion In The Forecast Period
Industrial Nitrogen Market Overview
The vast range of applications of industrial nitrogen is providing significant opportunities for market growth. Market reports connected with the chemicals and materials industry have been made accessible by Market Research Future who publishes reports on other sectors that have been currently published along with a report on this industry. The market is poised to achieve an accelerated CAGR while grossing high revenue levels in the duration of the forecast period.
The healthcare, food & beverage, automotive, metal production, agrochemicals, and chemicals industry are the major users for industrial nitrogen. As a result, the rise in demand in these industries is adding favorably to the overall market growth in the duration of the forecast period. Significant demand in the aerospace and aircraft industry which is on the rise currently due to breakthrough technologies is indirectly contributing to the demand for industrial nitrogen in this industry. The substantial demand for industrial nitrogen as a cryogen in the healthcare sector to freeze and preserve cell tissue, blood etc is expected to further motivate the market growth in the forecast period.
The industrial nitrogen market has been segmented on the basis of type, process, industry, end-use and region. On the basis of process, the industrial nitrogen market has been segmented into membrane separation, fractional distillation, and pressure swing adsorption (PSA). On the basis of type, the industrial nitrogen market has been divided into liquid and compressed gas. On the basis of end-use industry, the industrial nitrogen market has been segmented into healthcare, automotive, food & beverage, metal production, agrochemicals, and others. The industrial nitrogen market globally is segmented into regions such as North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa.
Detailed Regional Analysis
The industrial nitrogen market has been segmented into five regions, such as North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. The Asia Pacific region is responsible for the biggest share of the industrial nitrogen market globally in 2017. This can be accredited to speedy industrialization and increasing population in the region. In addition, the developments in the healthcare sector in this region are expected to increase the demand for industrial nitrogen in the impending years. Also, the escalating use of ammonia-based fertilizers in agrarian nations is set to boost the fertility of land will drive the market growth for the duration of the forecast period.
The North American and European regions are the other important markets for industrial nitrogen. The increase in the metal production and construction industries in these regions are expected to boost the expansion of the industrial nitrogen market. Lastly, the markets in Latin American and the Middle East & African region are likely to observe extensive growth through the forecast period.