The nitrogen market effectively consists of sales of industrial nitrogen and its linked services used in several applications such as for food packaging in the food industry to safeguard food spoilage, in steel manufacturing to prevent oxidation. The nitrogen gas is colorless, odorless, inert and non-flammable gas. It can be utilized to substitute air and reduce or eradicate oxidation of materials involving food items. This gas is utilized in several industries involving healthcare, food & beverages, metal production, automotive, chemicals and agrochemicals etc.
According to the report analysis, ‘Nitrogen Global Market Report 2020’ states that in nitrogen global market there are several corporates which presently operating more significantly for leading the highest market growth and dominating the handsome value of market share around the globe over the incoming years while spreading the awareness related to the nitrogen, decreasing the linked prices, delivering the better consumer satisfaction, implementing the profitable strategies, analyzing and studying the strategies and policies of the government and employing the young work force includes Air Liquide, Linde Group, Praxair Inc., Air Products and Chemicals, Messer Group, Southern Industrial Gas Berhad, Taiyo Nippon Sanso Corporation, Gulf Cryo, Emirates Industrial Gases Co. LLC, nexAir and several others.
The worldwide nitrogen market was worth USD 26.10 billion in 2019. It is projected to grow at a compound annual growth rate (CAGR) of 10% and reach USD 38.372 billion by 2023.The nitrogen market has been geographically divided into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. Throughout 2019, Asia Pacific accounts for nearly 40% of the market. During 2019, Asia Pacific was the largest economy in the nitrogen market and is predicted to register the highest CAGR throughout 2019-2023.
The increasing food and beverages industry underwrite to the growth of the nitrogen market. Nitrogen gas is broadly used in food and beverages industry for the packaging of food items. Nitrogen gas eradicates the oxygen contact with food item, safeguarding the oxidation of food thus, augmenting its shelf life. This safeguards food spoilage and helps in managing its quality. According to a Statista report, the food and beverage industry is projected to increase at the rate of 8.4%.The growth of food and beverages industry results in proficiently increase in the requirement for Nitrogen. Thus, completely affecting the growth of the nitrogen market.
Industrial gas corporates are progressively using pressure swing adsorption (PSA) technology as a cost-effective and greatly efficient method to introduce nitrogen. PSA systems function on the principle of adsorption. They involve of adsorption vessels packed with the carbon molecular sieves (CMS) which are able of adsorbing carbon dioxide and residual moisture. At great pressures, CMS selectively adsorbs oxygen, thus enabling the nitrogen to pass through at the anticipated purity level. Onsite generation of nitrogen utilizing PSA systems is more cost-effective than traditional cryogenic distillation or deposited liquid nitrogen. PSAs can economically introduce nitrogen at flow rates from less than 5,000 scfh to superior than 60,000 scfh, and at purities from 95% to 99.9995%. Mahler AGS, a German producer of on-site gas generation plants, is utilizing PSA systems for low-cost introduction of nitrogen. Foremost industrial gas corporates such as Linde, Air Products, Air Liquide, and Praxair are utilizing PSA systems to improve nitrogen production. Therefore, in the near years, it is predicted that the market of nitrogen will increase around the globe more significantly over the upcoming years.
For More Information, refer to below link:-
Related Report:-
Global Nitrogenous Water Soluble Fertilizer Market Status and Future Forecast 2015-2025
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249
