Shibuya-ku, Tokyo, Japan, Japan, Jul 07, 2021, 09:25 /Comserve / -- Industrial Nitrogen Market by Form (Liquid, Compressed), Technology (Cryogenic distillation, Membrane separation), Transportation (Cylinder, Bulk, Pipeline), End-use industry (Metal manufacturing, Food & beverage), and Region
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The industrial nitrogen market will grow from USD 15.03 billion in 2017 to USD 19.96 billion by 2022, at a CAGR of 5.83%. This market is witnessing considerable growth due to advancements in industrial gas and growing demand from end-use industries such as food & beverage and metal manufacturing & fabrication. The pharmaceutical & healthcare industry is growing owing to the rising health issues among people, which is eventually fueling the growth of the industrial nitrogen market. In contrast, factors such as high cost of production and uncertain ROIs and growth stagnation in North America and Europe hamper the growth of the industrial nitrogen market.
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“The metal manufacturing & fabrication segment held the largest share of the compressed nitrogen gas market in 2017.”
Metal manufacturing & fabrication accounted for the largest market share in 2017 and is projected to dominate the compressed nitrogen gas market through 2022. The dominant position of this segment is attributed to the wide application industrial nitrogen in the metal manufacturing industry. Nitrogen is used as an inert gas in bottom blowing converters, as a protective gas for the annealing of cold rolled steel, and as a shield gas in the heat treatment of metals such as iron and steel.
“The Asia Pacific industrial nitrogen market is projected to be the fastest-growing during the forecast period.”
Asia Pacific is projected to be the fastest-growing in the industrial nitrogen market, in terms of value and volume, followed by North America, Europe, and the Middle East & Africa. Asia Pacific is the hub of foreign investments with its booming manufacturing sectors, largely due to the low-cost labor and cheap availability of land. The increase in demand for industrial nitrogen can be attributed to the rising population of the region with high disposable incomes, which is driving the food & beverage industry in this region.
Breakdown of Primaries
Primary interviews were conducted with a number of industry experts to collect data related to different aspects of the industrial nitrogen market. Estimates reached after analyzing the secondary sources were validated through these interviews. Primary sources included professionals such as manufacturers, distributors, consultants, and academic professionals. The distribution of primary interviews is as follows:
Note: Tier 1: Revenue > USD 1 billion, Tier 2: USD 500 million < Revenue < USD 1 billion, Tier 3: Revenue < USD 500 million
The various key players profiled in the report are as follows:
Research Coverage
The segmentation considered for this report is based on form, transportation & distribution, technology, end-use industry, and region. The report covers detailed information regarding the major factors influencing the growth of the industrial nitrogen market, such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been carried out to provide insights into their business overview, products & services, key strategies, and recent developments associated with the industrial nitrogen market.
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