Industrial Nitrogen Market is set to experience a significant growth rate | Praxair, Air Products and Chemicals
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Increasing developments in the global healthcare sector due to technological advancement is expected to continue to drive global industrial nitrogen market
VANCOUVER, BC, CANADA, September 20, 2022 /EINPresswire.com/ -- The industrial nitrogen market is expected to reach value of USD 29.36 Billion by 2027, according to a current analysis by Emergen Research. Liquid nitrogen is widely used in packaging of medical products as it helps to ensure and maintain product sterility. High purity nitrogen gas is introduced into the packaging before it is sealed, thereby creating a sterile environment to preserve and protect products during transportation and storage. Test kits for doctors’ offices, blood supplies, specimen containers, and other medical devices are examples of products frequently packaged with nitrogen gas.
Nitrogen generators are systems that produce high quality nitrogen gas and are used in medical equipment in laboratories and hospitals. Nitrogen generators are safer to use and easier to handle than high-force cylinders. These generators can be sued to control the amount of oxygen in the workspace, laboratories, or an entire enclosed area. Nitrogen generators are highly productive and efficient, and create a supply of nitrogen from the surrounding air. Not only do these systems enhance safety of facilities, but also lower costs and enables higher sterility and levels of operations at laboratories.
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The Industrial Nitrogen Market research report is a comprehensive and vital document encompassing business strategies, qualitative and quantitative analysis, and emerging trends of the global Industrial Nitrogen market. The report offers in-depth research and assessment of the key elements of the global Industrial Nitrogen market. The research analysts have formulated this report through thorough primary and secondary research with a detailed analysis of the drivers, restraints, challenges, trends, and opportunities to provide a panoramic view of the Industrial Nitrogen market.
The competitive landscape of the report has been formulated by considering all the vital parameters such as company profiling, market share, recent developments and advancements, gross margins, product portfolio, revenue generation, financial standing, market position, and expansion plans. The report also discusses in detail the recent mergers and acquisitions, joint ventures, collaborations, product launches and brand promotions, agreements, corporate and government deals, and partnerships, among others. The report also sheds light on the recent technological developments and product advancements in the Industrial Nitrogen market.
Furthermore, the report provides details about the new players entering the market, and entry-level barriers and offers strategic recommendations to overcome those barriers to gain a substantial industry presence.
Key players operating in the market include Praxair, Air Products and Chemicals, Air Liquide, Linde, Taiyo Nippon Sanso, Cryotec, Bhuruka Gases Limited, Sudanese Liquid Air Company, Cross Country Infrastructure Services Inc., and Canair Nitrogen Inc.
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Key Highlights of Report and Developments
In October 2018, Linde Group and Praxair merged to become a single entity with a market cap of USD 90 Billion. The merger would further help to consolidate position in the nitrogen market by becoming a global force in terms of geographic footprint.
In November 2020, Chart Industries, Inc. (NASDAQ: GTLS) completed the takeover of the Microbulk cryogenic tank intellectual property, equipment, and related assets from IC Biomedical (ICB). Additionally, the acquisition adds a new, efficient engineered food processing tank to Chart Industries’ specialty product offering. These tanks are used in food plants to push liquid nitrogen into the blending process of chicken nuggets.
In 2019, Asia Pacific accounted for largest share of the global industrial nitrogen market revenue, and revenue share is projected to register the highest CAGR during the forecast period. Demand for industrial nitrogen for food processing and packaging applications has been rising as a result of increasing food demand driven by a rapidly growing global population in countries in this region, as well as growing disposable income, changing lifestyle, improving living standards among consumers, and rapid industrialization.
Emergen Research has segmented the global industrial nitrogen market based on form, production technology, distribution and transportation, end-use, and region:
Form Outlook (Revenue, USD Billion; Volume: Million Metric Tons; 2020-2027)
Compressed
Liquid
Production Technology Outlook (Revenue, USD Billion; 2020-2027)
Cryogenic Fractional Distillation
Pressure Swing Adsorption
Membrane Separation
Distribution and Transportation Outlook (Revenue, USD Billion; 2020-2027)
Cylinders
Bulk
Tonnage or Pipeline
End User Outlook (Revenue, USD Billion; 2020-2027)
Metal Industry
Food and Beverages
Oil and Gas
Chemical
Electronics
Regional Outlook (Revenue, USD Billion; 2020-2027)
North America
U.S.
Canada
Europe
Germany
U.K.
France
BENELUX
Rest of Europe
Asia Pacific
China
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
Rest of MEA
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Key Questions Answered in the Report:
What will be the estimated growth rate of the Industrial Nitrogen market by 2027?
Who are the prominent distributors, vendors, and manufacturers of the market?
What are the driving and restraining factors of the growth of the Industrial Nitrogen market throughout the forecast period?
What are the current and future market trends of the Industrial Nitrogen market?
What are the sales and price analysis of the product by types, applications, and regions?
What are the expected opportunities for the companies and new entrants in the coming years?
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