Nitrogen Market was valued at USD XXXX Billion in 2017 and is expected to reach USD XXXX Billion by 2025. The market is projected to grow at a CAGR of XXX% during the forecast period. The market is experiencing considerable growth due to the technology advancements as far as gases are concerned. Another contributing factor is the growing food & beverage and pharmaceutical industries.
Nitrogen is an odorless, colorless chemical element and is an important raw material in most industrial compounds. Nitrogen is mostly used in the form of fertilizers which are synthetically manufactured. Increased attention towards developing bio –based agrochemicals such as nitrogen fixation biofertilizers are expected to provide new opportunities for the growth of the Nitrogen market.
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The Nitrogen market outlook has helped in segmenting Nitrogen on various factors. On the basis of form it can be segmented as compressed gas and liquid nitrogen. The compressed gas is the leader and is contributes maximum share in Nitrogen market. This is due to its use in large number of industries to store petroleum liquefied explosive.
The liquid nitrogen market is segmented into food and beverages, pharmaceuticals, healthcare, electronics, metal manufacturing and fabrication chemical, oil & gas, petrochemical, and others (construction, automotive, R&D, rubber, and plastic). Industrial nitrogen market is growing due to its feature that creates a dry atmosphere resulting in foodstuff being fresh and not perishing. Based on the end-user, nitrogen can be segmented into food and beverages, pharmaceuticals and healthcare, electronics and metal manufacturing & fabrication, chemical, oil & gas, petrochemical, and others (construction, automotive, R&D, rubber, and plastic). The food and beverage industry contributed for the largest market share in 2017.
The Nitrogen Market analysis reflects a clear growth in the forecast period. However factors such as structural and regulatory restrictions are hampering the growth of industrial nitrogen market. Furthermore, high cost of production and uncertain ROIs and growth unproductivity are also some factors effecting the market growth.
The Global Nitrogen Market is dominated by players Praxair (US), Air Products and Chemicals (US), Air Liquide (France), Linde (Germany), and Taiyo Nippon Sanso (Japan). Other players in the market are Messer group (Germany), Nexair LLC (US) and Gulf Cyro (Kuwait). The market leaders used various business strategies like mergers, partnerships and acquisitions along with new product development for meeting the demand in nitrogen market.
North America is expected to have the largest market share and govern the market for liquid nitrogen during the forecast period. Asia-Pacific offers potential growth opportunities, as developing countries such as China and India are proposed to be emerging markets. This would make the Asia-Pacific region the fastest-growing market for liquid nitrogen. The growth of the liquid nitrogen market in this region is driven by factors such as the growth of the metal manufacturing & fabrication industry, rise in demand for electronic products from the rising population, and due to economic development.
Nitrogen is useful in all forms and plays a key role in the all key industries and is extensively used at various stages.
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What to expect from the upcoming report on ‘Global Nitrogen Market’:
– Future prospects and current trends of the Nitrogen market by the end of forecast period (2018-2025)
– Information regarding technological progressions as well as innovations across the world
– Supportive initiatives by government likely to influence the market dynamics.
– In-depth analysis of different market segmentations including regional segmentations, applications and types.
Deep analysis about the competitive landscape of the market and the initiatives by them to improve this market.
– Trends, drivers, opportunities, restraints, challenges and key developments in the market
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