Nitrogen Global Market Report 2023 By The Business Research Company Describes And Explains The Nitrogen Market And Covers 2017-2022, Termed The Historic Period, And 2022-2027 Termed The Forecast Period, Along With Further Forecasts For The Period 2027-2032. The Report Cover Market Sizing Information, Market Trends, Strategies, And Opportunities For The Seven Regions And Major Players Of The Market.
LONDON, March 14, 2023 /PRNewswire/ — As per The Business Research Company’s Nitrogen Global Market Report 2023, the global nitrogen market size will grow from $35.1 billion in 2022 to $38.9 billion in 2023 at a compound annual growth rate (CAGR) of more than 10%. The global nitrogen market size is expected to grow from $57.7 billion in 2027 at a CAGR of more than 10%. The wide use of nitrogen in the food and beverage industry for packaging food items is contributing to the growth of the nitrogen market.
The global nitrogen market is segmented –
1) By Product Type: Compressed Gas, Liquid Nitrogen
2) By Application: Commercial Use, Industrial Use, Science and Research
3) By End User Industry: Petrochemical, Oil & Gas, Metal Manufacturing & Fabrication, Food & Beverage, Electronics, Pharmaceutical & Healthcare, Chemical, Other End Use Industries
Top segments in the nitrogen market that will experience significant growth in the forecast period include the compressed gas market segment, the industrial use market segment and the metal manufacturing and fabrication market segment.
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The global nitrogen market is highly concentrated, with a small number of large players in the market. The top ten competitors in the market made up to 53.83% of the total market in 2021. Air Liquide was the largest competitor with 21.1% of the market, followed by Linde Group, Air Products, Nippon Sanso Holdings Corporation, Messer Group, Yingde Gases Group Company, Air Water Inc., Iwatani International Corporation, Gulf Cryo and nexAir.
Major players in the nitrogen market are focussing on seeking partnerships and expanding their product portfolios through strategic collaboration. For instance, Linde Group, the second largest competitor in the nitrogen market, focuses on strategic collaborations and partnerships particularly for long term supply contracts. In April 2022, Linde signed a long-term agreement with a space launch company in Florida for the supply of bulk industrial gases. Linde will supply liquid oxygen and nitrogen from its air separation plant at Mims, Florida, which is currently undergoing a further expansion to increase production capacity by up to 50%.
Read More About The Nitrogen Market Here:
https://www.thebusinessresearchcompany.com/report/nitrogen-global-market-report
The nitrogen market research report is one of a series of new reports from The Business Research Company that provides nitrogen market statistics, including nitrogen industry global market size, regional shares, competitors, detailed nitrogen market segments, market trends and opportunities. This nitrogen market report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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