Nitrogen Gas Market - By Form (Compressed Gas, Liquid Nitrogen Gas), By Application (Inerting, Blanketing, Welding & Cutting, Purging), By End-Use Industry (Chemicals, Food & Beverages, Electronics, Pharma) & Forecast, 2024 - 2032

Nitrogen Gas Market size is anticipated to witness over 5.5% CAGR between 2024 and 2032, favored by the rising demand from various industries, such as food & beverages (F&B), electronics and healthcare. In the F&B industry, nitrogen is widely utilized in packaging to extend the shelf life of products by preventing oxidation and spoilage. For instance, in June 2023, A farmers' organization (FPO) in Dakshina Kannada district sought to ensure that arecanuts are chemical-free while urging the horticulture department to encourage traders to use nitrogen gas storage. This development is supported by the growing consumer preference for packaged and convenient foods. In healthcare, nitrogen gas helps in cryopreservation and storage of biological samples, drugs and medical gases, which is necessary to maintain the integrity and effectiveness of medical products.

Rapid advancements in nitrogen production technologies are fueling the market growth by making nitrogen gas more readily available and cost-effective in various applications. On-site nitrogen generation systems are also becoming increasingly popular as they provide a reliable and continuous supply of high purity nitrogen while reducing reliance on a cylinder or liquid nitrogen supply.

The nitrogen gas industry is divided into form, application, end- use industry and region.

Based on form, the market size from the liquid nitrogen gas segment is set to witness notable growth through 2032, favored by its widespread usage. Liquid nitrogen has grown important for cryopreservation in the medical and pharmaceutical industries, where it is used to store biological samples, vaccines, and other medical products at very low temperatures while ensuring stability and longevity. In the industrial sector, this nitrogen gas is used in the production of metals and electronics to provide cooling and an inert atmosphere that prevents oxidation and other unwanted chemical reactions.

Nitrogen gas industry from the blanketing application segment is estimated to generate high revenue by 2032, due to assistance in enhancing safety. Nitrogen blanketing, also known as tank blanketing or inerting, involves covering a product with nitrogen gas to prevent exposure to oxygen and moisture that can cause oxidation, spoilage, or hazardous reactions. This technology is specifically important in the chemical and petrochemical industries, where it is utilized to protect flammable and reactive elements as well as prevent explosions and fires.

North America nitrogen gas market will witness rapid expansion between 2024-2032, attributed to the presence of industrial base, technological advancements, and stringent regulatory standards. An established F&B industry with high demand for nitrogen gas in packaging and preservation processes will significantly boost market growth. The growing healthcare sector, especially in the U.S., is necessitating significant amounts of nitrogen for medical purposes. The growing electronics industry, fueled by innovation and high consumption of consumer electronics will continue to drive the demand for nitrogen gas in manufacturing processes.