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Industrial Nitrogen Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
Industrial nitrogen is a colorless, odorless, and chemically inert gas. It is used in industrial applications where chemical cross-reactivity between substrates is undesirable, such as food processing, beverage and brewery industries, oil and gas recovery, and others.

Sizing and Forecast
The industrial nitrogen market size has grown strongly in recent years. It will grow from $18.94 billion in 2023 to $20.26 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to growing industrialization, chemical industry demand, metal manufacturing, food and beverage industry.

The industrial nitrogen market size is expected to see strong growth in the next few years. It will grow to $26.09 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to expanding electronics industry, healthcare applications, energy sector, environmental regulations. Major trends in the forecast period include green nitrogen production, technological advancements, increased application in pharmaceuticals, on-site nitrogen generation, digitalization and automation, strategic collaborations and partnerships.

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Segmentation & Regional Insights
The industrial nitrogen market covered in this report is segmented –

1) By Form: Compressed Gas, Liquid Nitrogen
2) By Grade: High Purity, Low Purity
3) By Technology: Cryogenic Fractional Distillation, Pressure Swing Adsorption, Membrane Separation
4) By Transportation And Distribution: Bulk, Cylinder And Packed Gas, Tonnage/Pipeline
5) By End Use Inustry: Petrochemical, Oil And gas, Metal Manufacturing And Fabrication, Food And Beverage, Electronics, Pharmaceutical And Healthcare, Chemical

Asia-Pacific was the largest region in the Industrial Nitrogen market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial nitrogen market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
The growth of the food and beverage industry is contributing to the growth of the industrial nitrogen market. The food and beverage industry uses nitrogen in commercial food and beverage production processes. It is used in modified atmosphere packaging to prolong the freshness of commercially manufactured food items. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. For instance, the global food and beverage market size is expected to grow from $6,196.1 billion in 2021 to $8,641.0 billion in 2026. Hence, the growing food and beverage industry is expected to propel the industrial nitrogen market in the forecast period.

Key Industry Players
Major companies operating in the industrial nitrogen market report are Praxair Technology Inc., Air Products And Chemicals Inc., Air Liquide S. A., Linde plc, Nippon Sanso Holdings Corporation, Cryotec Anlagenbau GmbH, Bhuruka Gases Limited, Sudanese Liquid Air Co. Ltd., Canair Nitrogen Inc., The Messer Group GmbH, Nexair LLC, Gulf Cryo, Southern Industrial Gas Sdn. Bhd., Universal Industrial Gases Inc., Yingde Gases Group Company, Ellenbarrie Industrial Gases Ltd., Bombay Oxygen Corporation Ltd., Emirates Industrial Gases Co. LLC, Parker Hannifin Corporation, Chengdu Taiyu Industrial Gases Co. Ltd., Aspen Air Corporation, Cryomech Inc., MVS Engineering Pvt. Ltd., Cryogenic Industries Inc., AMCS Corporation, Statebourne Cryogenics Ltd., Asia Industrial Gases Pte. Ltd., Rigaku Corporation, Sutton-Garten Co., RMA Armament Inc.

The industrial nitrogen market report table of contents includes:

1. Executive Summary

2. Industrial Nitrogen Market Characteristics

3. Industrial Nitrogen Market Trends And Strategies

4. Industrial Nitrogen Market – Macro Economic Scenario

5. Global Industrial Nitrogen Market Size and Growth

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31. Global Industrial Nitrogen Market Competitive Benchmarking

32. Global Industrial Nitrogen Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Industrial Nitrogen Market

34. Industrial Nitrogen Market Future Outlook and Potential Analysis

35. Appendix