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Rising demand of the product in packaging of food items & electronic components owing to its non-reactive feature is drive revenue growth of the market

NEW YORK CITY, U.S., UNITED STATES, June 29, 2023/EINPresswire.com/ -- The size of the global Nitrogen Market exhibited significant strength in 2021 and is anticipated to experience a rapid growth rate in revenue throughout the projected period. The primary drivers of market revenue growth include the increasing prevalence of packaged food items and the need for packaging air, the rapid expansion of steel production involving nitrogen for annealing, and the escalating research and experimentation in medicine, where nitrogen is used as a coolant for refrigeration.

Nitrogen is a naturally occurring chemical element that can be found in amino acids as well as various organic and inorganic compounds. It constitutes approximately 80% of Earth's atmosphere and is essential for the growth and reproduction of plants and animals. Nitrogen finds extensive application in the form of ammonia, which is produced through the reaction of nitrogen with hydrogen. Additionally, nitrogen is used in its pure form and as an essential element in the production of ammonia, as well as in the chemical industry for manufacturing fertilizers, nitric acid, nylon, dyes, and explosives. Its highly inert properties make it a preferred choice for various applications, ensuring chemical preservation, preventing oxidation and combustion, and facilitating safe storage.

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Nitrogen Market Segments:

The global nitrogen market can be categorized based on product types and applications. In terms of product types, two major categories are NI 5.0 and NI 4.8, with their respective revenue figures shown in USD billion for the period of 2019 to 2030.

When considering applications, several sectors stand out. One significant application is food freezing, where nitrogen plays a crucial role. Another notable application is in plastic and rubber deflashing, where nitrogen is used for removing excess material from molded products. In the medical and healthcare field, nitrogen finds application in various capacities. Additionally, nitrogen is extensively utilized in metal manufacturing processes. Lastly, the chemicals and petroleum industries also make use of nitrogen for various purposes.

Overall, these segmentation categories provide insights into the diverse uses of nitrogen and highlight its significance across different industries and applications.

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Nitrogen Market Strategic Developments:

On 20 April, 2022, Linde plc. announced a new supply arrangement for supply of bulk industrial gasses, including liquid oxygen and nitrogen, by expanding production capacity by up to 50%. Through this, the company will fulfill increased demand from clients in aerospace, healthcare, manufacturing, food processing, and water treatment end sectors.

On 1 October, 2021, Messer Group GmbH took over operations of Nowega nitrogen manufacturing facility in Rehden to ensure availability of L-gas grade natural nitrogen gas in its network region even during high demand periods. With this , the company aims to replace traditional fuel based transportation to contribute to environment protection and climate emission reduction

Nitrogen Market Competitive landscape:

The Nitrogen market is dominated by several major companies that play a significant role in the industry. Linde plc, headquartered in Ireland, is one of the prominent players. With a global presence, Linde plc is involved in the production and distribution of industrial gases, including nitrogen. Their expertise and extensive network contribute to their strong position in the market.

Air Products and Chemicals, Inc., based in the United States, is another key player in the Nitrogen market. The company specializes in providing atmospheric gases and process gases for various industries. Nitrogen is among the gases offered by Air Products and Chemicals, Inc., and their broad range of products and services have solidified their position as a major player in the market.

Praxair, Inc., also headquartered in the United States, is renowned for its presence in the Nitrogen market. Praxair is involved in the production and distribution of industrial gases, including nitrogen, across different regions. Their focus on providing innovative solutions and maintaining strong customer relationships has contributed to their success in the market.

Ellenbarrie Industrial Gasses Limited, based in India, is a notable player in the Nitrogen market. The company specializes in the production and distribution of industrial gases, catering to various industries. With their expertise and local market knowledge, Ellenbarrie Industrial Gasses Limited has established a strong presence in the Nitrogen market.

Universal Industrial Gasses Inc., headquartered in the United States, is recognized as a significant player in the Nitrogen market. The company specializes in the production and supply of industrial gases, including nitrogen, for a wide range of applications. Their commitment to quality and customer satisfaction has helped them maintain a competitive position in the market.

CanAir Nitrogen Inc., based in Canada, is also a noteworthy player in the Nitrogen market. The company focuses on providing nitrogen and related services to industries in Canada. Their dedication to meeting customer requirements and delivering reliable nitrogen solutions has contributed to their presence in the market.

Collectively, these major companies, including Linde plc, Air Products and Chemicals, Inc., Praxair, Inc., Ellenbarrie Industrial Gasses Limited, Universal Industrial Gasses Inc., and CanAir Nitrogen Inc., shape the Nitrogen market with their extensive capabilities, global reach, and commitment to meeting industry demands.

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