PUBLISHER: Orion Market Research | PRODUCT CODE: 1215742
PUBLISHER: Orion Market Research | PRODUCT CODE: 1215742
Title:Global Industrial Nitrogen Market Size, Share & Trends Analysis Report, By Form (Liquid Nitrogen and Compressed Nitrogen), By End-User (Food & Beverage, Petrochemicals, Metal Manufacturing & Fabrication, Oil & Gas, Pharmaceutical & Healthcare, and Others), Forecast Period (2022-2028).
The global industrial nitrogen market is anticipated to grow at a CAGR of 7.6% during the forecast period. The growing demand for industrial nitrogen from end-user industries including food & beverage, petrochemicals, metal manufacturing & fabrication, and oil & gas among others is a key factor driving the growth of the global industrial nitrogen market. The rise in demand for industrial nitrogen in the chemical industry is anticipated to offer lucrative opportunities to the global industrial nitrogen market.
The global industrial nitrogen market is segmented by form and end-user. The market segmentation based on the form includes liquid nitrogen and compressed nitrogen. Among form, liquid nitrogen is anticipated to exhibit considerable CAGR in the market. Increased incidence of brain and spinal cord tumors among adults and the subsequent rise in product demand for use in applications such as MRI machines is a major contributing factor to the growth of this segment. Based on the end-user, the market is classified into food & beverage, petrochemicals, metal manufacturing & fabrication, oil & gas, pharmaceutical & healthcare, and others.
The global industrial nitrogen market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. Europe is anticipated to exhibit the highest CAGR in the global industrial nitrogen market. The factor that is propelling the growth of the market in the region includes the growing demand for industrial nitrogen from several end-user industries including healthcare, food & beverage, and oil & gas among others.
The major companies operating in the global industrial nitrogen market include Air Products and Chemicals, Air Liquide S.A., and Linde plc, among others. The companies are focusing on production capacity expansions, mergers & acquisitions, and finding a new market or innovation in their core competency to expand individual market share.
Research Methodology
The market study of the global industrial nitrogen market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to break down the market into various segments, and derive the total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives as possible, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include:
The report provides an in-depth analysis of the market size, and intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
Market Segmentation
The Report Covers: