Industrial Nitrogen Market Share, Growth, Opportunities 2031

Report Description

Industrial Nitrogen Market Outlook 2031

The Industrial Nitrogen Market was USD 3.65 Billion in 2022 and is likely to reach USD 5.76 Billion by 2031, expanding at a CAGR of 5.2% during 2023 – 2031. Industrial nitrogen is the 7th most abundant element that naturally occurs in the planet’s atmosphere. It is highly stable, versatile, as well as colorless and odorless, and is found in all living organisms and organic matter.

It has the ability to construct multiple bonds with other elements and compounds. Additionally, industrial nitrogen gas is commonly used in the production of nitric acid, nitrates, oxides, cyanides, and ammonia, which are required for fertilization, explosives, and other materials commonly used in food (including perishable packaging without oxygen to increase the shelf life) and pharmaceuticals (storage of medicines and antibiotics).

Industrial nitrogen is used in chemical blanketing (to prevent fires, and explosion by lowering oxygen level), laboratories (to ensure accuracy in test and results by controlling moisture, humidity, and maintaining temperature), laser cutting (helps in achieving strong stainless or aluminized steel produce), electronics (to reduce surface tension), and others.

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Industrial Nitrogen Market Trends, Drivers, Restraints, and Opportunities:

• Rising trend of modernizing healthcare sector in developing countries is boosting the market.
• Growing adoption of industrial nitrogen by various industries such as chemical, food & beverages, healthcare, pharmaceuticals, and research centers is driving the market.
• Technological advancement such as food preservation technology, and development in cryogenic fraction distillation technology are fueling the market.    
• Huge cost incurred in production and manufacturing process with uncertainty in return on investment are restricting the market growth.
• Stringent rules and regulation, and structural restrictions for nitrogen production are hampering the growth of the market.
• Growing demand from the chemical industry to perform research and development activities are creating opportunities for the growth of the market in the near future.     

Scope of Industrial Nitrogen Market report:

The report on the global industrial nitrogen market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Industrial Nitrogen Market Segment Insights

Compressed Gas segment to drive the market

In terms of forms, the industrial nitrogen market is bifurcated into compressed gas and liquid nitrogen. The compressed gas segment held a considerable share of the market in 2020, due to its wide usage in various applications by large number of industries.

Compressed nitrogen is an active element; hence, it is used to store petroleum liquified explosive and flammable materials. Being an inert gas, nitrogen is used to manufacture stainless steel. Thus, the compressed nitrogen gas segment is expected to expand at significant CAGR during the forecast period.

Cryogenic Fraction Distillation segment to drive the market

Based on technology, the industrial nitrogen market is fragmented into cryogenic fractional distillation, pressure swing adsorption, and membrane separation. The cryogenic fraction distillation segment constituted a significant market share in 2020 and is projected to expand at a rapid rate during the forecast period.

The growth in cryogenic fraction distillation technology is attributed to its process that is typically used in the production of high-purity commodities at high output rate. Furthermore, cryogenic fraction distillation technology helps in the production or manufacture of liquid and gaseous products. This technology is highly adopted, as its operation is based on different boiling points, depending upon several gases and the particular temperature required by them.  

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Cylinders & Packaged Gas segment to drive the market

On the basis of transportation & distribution, the industrial nitrogen market is segregated into bulk, cylinders & packaged gas, and tonnage/pipeline. The cylinders & packaged gas segment is expected to hold a significant share of the market during the forecast period, due to continuous demand from hospitals. Nitrogen cylinders are built and designed based on required pressure and temperature specifications and norms.

Cryogenic liquid cylinders are vacuum-jacketed and insulated pressure containers that are equipped with safety valves and rupture discs for protecting them from pressure surges.   

Food & Beverages segment to drive the market

On the basis of end-use industries, the industrial nitrogen market is segregated into chemicals, food & beverages, metal manufacturing & fabrication, oil & gas, pharmaceuticals & healthcare, petrochemicals, electronics, and others. The others segment is sub-segmented into automotive, rubber, research & development, construction, and plastic industry.

The food & beverages segment is expected to hold a significant share of the market during the forecast period, due to use of industrial nitrogen in the form of liquid, which creates a dry atmosphere around the foodstuffs to prevent perishing or spoilage by moisture, and maintains freshness of food. Industrial nitrogen is used for packaging and storing food & beverages to increase the shelf life.

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High demand for packed food & beverages in Asia Pacific to drive the market

In terms of regions, the industrial nitrogen market is split into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific constituted a significant share of the market in 2020, due to mergers and acquisitions conducted by key market players. The market in Asia Pacific is projected to expand at a significant CAGR during the forecast period, due to growing population associated with increasing demand for packaged beverages, and rapid industrialization particularly in industries such as food & beverages and healthcare in Asia Pacific.

Additionally, increasing production of industrial nitrogen with improved production methods and processes, and high disposable income in the region aid the market growth in Asia Pacific.

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