Increasing developments in the global healthcare sector due to technological advancement is expected to continue to drive global industrial nitrogen market growth.
Vancouver, BC -- (SBWIRE) -- 04/26/2021 -- 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.
The latest market report offers an in-depth analysis of quantitative and qualitative factors affecting the industry growth. Such elements of the report, along with the growth forecast over the foreseeable future, enable the reader to obtain meaningful insights into the global market.
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Key Highlights of Report and Developments
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.
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.
Industrial Nitrogen Market Segmentation:
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
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Additional information offered by the report:
A complete overview of the global Industrial Nitrogen market.
Detailed examination of the various market dynamics, including drivers, opportunities, challenges, threats, constraints, and development prospects prevailing in the global market.
Diverse market trends observed on regional and global levels. The report also elaborates on the market size and shares governed by the major geographies, combined with a precise growth forecast analysis, cost analysis, micro- and macro-economic indicators, and regulatory framework.
A vivid analysis of the company profiles of the key market contenders operating in the global Industrial Nitrogen market.
Extensive research & development assessment, and a detailed study of the growing demand for new products and the increasing application of the existing and new products.
Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Industrial Nitrogen Market Segmentation & Impact Analysis
4.1. Industrial Nitrogen Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. High demand of liquid nitrogen in food processing sector
4.2.2.2. Industrialization in emerging economies
4.2.3. Market restraints analysis
4.2.3.1. High cost of production
4.2.3.2. Structural and regulatory restrictions
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter's Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. Industrial Nitrogen Market Form Insights & Trends, Revenue (USD Billion) (Million MT)
5.1. Form Dynamics & Market Share, 2019 & 2027
5.1.1. Compressed
5.1.2. Liquid
CONTINUED..!!
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