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Industrial Nitrogen Market Size, Share and Industry Analysis Report, Regional Outlook, Application Development Potential, Competitive Market Share & Forecast, 2022 – 2028

  • Report ID: GMI4137

Global industrial nitrogen market share is projected to increase considerably over 2022-2028. This is considering the escalating usage of nitrogen across the oil and gas sector for inertization, well stimulation and drilling owing to its increased process efficiency. Additionally, its mounting adoption in the food and beverages industry for modified atmosphere packaging applications to displace oxygen-containing air with nitrogen and reduce rancidity will also fuel industry growth in the years ahead.
 

Nitrogen refers to a non-metallic element used in industrial manufacturing processes. Gaseous nitrogen, which is one of the most sought-after chemical molecules, can be optimized for use in brewery, beverage, food processing, oil and gas recovery, and other applications due to its inert nature.
 

Rapid integration of oil and natural gas rigs is one of the prominent trends proliferating the industrial nitrogen market trends over 2022-2028. In October 2021 for example, U.S. energy firms added rigs for the sixth week in a row amid a surge in oil prices, providing a boost to the drilling process and augmenting the use of pressurized nitrogen gas to facilitate debris removal and increase efficiency. Furthermore, the significant expansion of manufacturing facilities and increased interest in metal mining will also drive the adoption of industrial-grade nitrogen. This is given its usage to ensure combustion-preventing atmosphere within mines through the displacement of oxygen with nitrogen gas.
 

Based on form, the industrial nitrogen industry from the liquid nitrogen segment will record considerable revenue by 2028. Increased incidence of brain and spinal cord tumors among adults and the subsequent rise in product demand for use in applications like MRI machines is a major contributing factor to industry growth from this segment.
 

Electronics will emerge as a key end-use industry segment over the forecast spell. Growth from the segment is on account of the substantial increase in spending on laptops, gaming consoles, and other electronics during the coronavirus pandemic. As the nitrogen gas soldering of electronic parts is considered an efficient process that ensures high-quality finishes, the surging product demand will propel industrial nitrogen supply in the upcoming years.
 

Regionally, the Europe industrial nitrogen market is expected to depict a strong growth rate through 2028, driven by the rapid industrial revolution. For instance, German-based Merck’s pharmaceutical product net sales amounted to $5.7 billion in 2021 as compared to a year earlier. Such factors will also augment the industrial use of nitrogen, which can develop sterile environments void of bacteria in the pharma industry and consequently reduce costs incurred due to product contamination.
 

Some of the key players in the industrial nitrogen industry include Gulf Cryo (Al Huneidi Group Company), Emirates Industrial Gases Co., Messer Group, Praxair Inc. (Linde plc), nexAir, Southern Industrial Gas, Taiyo Nippon Sanso Corporation (Mitsubishi Chemical Holdings), Sudanese Liquid Air Company, Yingde Gases Group, and Universal Industrial Gases, among others. These companies are focusing on new service launches and business expansions to gain a competitive edge over rivals in the global market. For instance, in November 2021, Messer installed a nitrogen production unit for Energoaqua in Czech Republic, which was geared towards reducing harmful emissions including CO?.
 

Impact of COVID-19 on Industrial Nitrogen Market Trends:

The ongoing coronavirus pandemic has caused a historic decline in demand for oil globally, especially during the peak of the crisis. This factor may have led to a decline in oil and gas drilling processes and hampered the industrial nitrogen industry, as the oil and gas sector is a significant end-user of nitrogen. However, the shifting consumer buying patterns and the spike in the consumption of packed and processed foods during the lockdown may boost the deployment of nitrogen in food packaging and in turn, help the industry regain momentum over the foreseeable future.
 

What Information does this report contain?

Historical data coverage: 2017 to 2021; Growth Projections: 2022 to 2028.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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