The global nitrogen market was worth $ 26.10 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 10% and reach $38.372 billion by 2023.
Nitrogen Market Global Report 2020 from the author provides the strategists, marketers and senior management with the critical information they need to assess the global nitrogen market.
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The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider nitrogen market, and compares it with other markets.
In 2019, Asia Pacific accounts for around 40% of the market. In 2019, Asia Pacific was the largest region in the nitrogen market and is forecasted to register the highest CAGR during 2019-2023.
The growing food and beverages industry contribute to the growth of the nitrogen market. Nitrogen gas is widely used in food and beverages industry for packaging of food items. Nitrogen gas eliminates the oxygen contact with the food item, preventing the oxidation of food thus, increasing its shelf life. This prevents food spoilage and helps in maintaining its quality. According to a Statista report, the food and beverage industry is expected to grow at the rate of 8.4%. The growth of food and beverages industry results in significant increase in the demand for Nitrogen. Thus, positively affecting the growth of the nitrogen market.
In October 2018, The Linde Group and Praxair, Inc. merged to create a combined entity with a market capitalization of $90 billion. As part of the agreement, Praxair shareholders will receive one share of Linde plc for each Praxair share. Linde AG shareholders will receive 1.54 shares of Linde plc for each Linde AG share tendered. This merger is expected to further consolidate the nitrogen market by creating a global leader in terms of both sales and geographic footprint. Praxair has a strong presence in Eastern Europe and the Middle East, whereas Linde has a strong presence in Europe and Asia. The merged company is expected to be a leader in each of these four regions, thus leaving only three companies to compete in the industrial gas market on a global basis. Linde AG is a Brazil-based producer and supplier of industrial, process and specialty gases. Paxair is a US-based atmospheric, process, and specialty gases, and surface coatings producer.
Key Topics Covered:
1. Executive Summary
2. Nitrogen Market Characteristics
3. Nitrogen Market Size And Growth
3.1. Global Nitrogen Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Nitrogen Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Nitrogen Market Segmentation
4.1. Global Nitrogen Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Compressed Gas
- Liquid Nitrogen
4.2. Global Nitrogen Market, Segmentation By End Use Industry, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Oil & Gas
- Metal Manufacturing & Fabrication
- Food & Beverage
- Pharmaceutical & Healthcare
5. Nitrogen Market Regional And Country Analysis
5.1. Global Nitrogen Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Nitrogen Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Air Liquide
- Linde Group
- Praxair Inc.
- Air Products and Chemicals
- Messer Group
- Southern Industrial Gas Berhad
- Taiyo Nippon Sanso Corporation
- Gulf Cryo
- Emirates Industrial Gases Co. LLC
- CanAir Nitrogen
- Chengdu Taiyu Industrial Gases
- Universal Industrial Gases
- Yingde Gases Group Company
- Aspen Air Corp.
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