Global Nitrogen Market Size is Expected to Reach Around USD 21.7 Billion by 2028

02-Mar-2020 | Facts and Factors

Findings from Facts and Factors report “Nitrogen Market – By Category (Chemical Grade, Food Grade, and Pharmaceutical Grade) and By Utilization (Food & Beverages, Medical & Healthcare, Metal Manufacturing, Chemicals & Petroleum Uses, Rubber & Plastic, Construction, and Others): Global Industry Perspective, Market Size, Statistical Research, Market Intelligence, Comprehensive Analysis, Historical Trends and Forecast 2021–2028” states that the global Nitrogen Market in 2020 was approximately USD 14.5 Billion. The market is expected to grow at a CAGR of 5.8% and is anticipated to reach around USD 21.7 Billion by 2028.

Nitrogen is a non-metallic chemical compound. It has no odor and is colorless and tasteless. Nitrogen is widely used in fertilizers, nylon, nitric acid, dyes, and explosives among others. Nitrogen naturally occurs in the human body. It is an essential element of amino acids, proteins, and nucleic acids. Nitrogen can be in gaseous form or liquid form. Liquid nitrogen is also known as cryogenic liquid and is used to transport food items and high-temperature superconductors.

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The surging food & beverage industry is one of the major factors driving the global nitrogen market. Nitrogen is extensively used in the food & beverage sector for packaging, food aeration, and storage to increase the shelf life of food products. Besides, in the wine industry, nitrogen is used to maintain the quality of the product by preventing oxidation during the fermentation process. Moreover, the rise in the demand for fertilizers coupled with the growing production of grains is further projected to boost the adoption of nitrogen across the globe. According to the U.S. Bureau of Statistics, the application of nitrogen fertilizers was around 147.8 million metric tons worldwide, in 2014. However, the rising prices of nitrogen due to the increase in the cost of natural gas may hamper the market growth. Nevertheless, the surge in the use of nitrogen in the healthcare industry is likely to offer new opportunities for market growth in the upcoming years. In the healthcare industry, nitrogen is used as a cryogen to preserve and freeze tissues, blood, and reproductive cells, and in drug making.

Based on the category, the global nitrogen market is segmented into chemical grade, food grade, and pharmaceutical grade. In 2019, chemical grade dominated the global nitrogen market, followed by food grade. Chemical grade nitrogen is widely used in various end-use industries such as metal manufacturing, electronics, and chemicals & petroleum among others. Additionally, the rising application of chemical grade nitrogen in chemical and metal manufacturing industries is likely to increase the demand for the chemical grade, thereby, propelling the overall market growth for nitrogen.

Moreover, metal manufacturing is the dominating category of the global nitrogen market. In metal manufacturing, nitrogen is used in large quantities for annealing stainless steel and other steel mill products. The food & beverage category of nitrogen is expected to grow significantly during the forecast period. 

Geographically, the Asia Pacific region dominated the global nitrogen market and is projected to grow at the highest rate in the next few years as well. In the region, China was the largest contributing country to the regional nitrogen market, in 2019. The rapid growth in the construction industry has propelled the demand for metals like stainless steel, iron, and aluminum, which is further projected to escalate the consumption of nitrogen for metal manufacturing.

Moreover, North America is anticipated to be the second-largest market for nitrogen. The rising application of nitrogen in the agriculture sector is expected to boost the market within the region. The U.S. has planted around 93 million acres of corn in 2019. Therefore, this is likely to drive the demand for nitrogen in North America.

Report Scope

Report Attribute

Details

Market Size in 2020

USD 14.5 Billion

Projected Market Size in 2028

USD 21.7 Billion

CAGR Growth Rate

5.8% CAGR

Base Year

2020

Forecast Years

2021-2028

Key Market Players

Universal Industrial Gases, Chengdu Taiyu Industrial Gases Co. Inc., Ellenbarrie Industrial Gases, Parker Hannifin Corp., Praxair Technology Inc., Linde Group, Messer Group GmbH, nexAir LLC, Air Products and Chemicals Inc., EPC Engineering & Technologies GmbH, CanAir Nitrogen Inc., and Others

Key Segment

By Category, By Utilization, and By Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

Purchase Options

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Some of the major players operating in the global nitrogen market are Linde, Air Liquide, Praxair, Air Products and Chemicals, Taiyo Nippon Sanso, Messer Group, Hangzhou Hangyang, CF Industries, and Nutrien among others.

Browse the full “Nitrogen Market – By Category (Chemical Grade, Food Grade, and Pharmaceutical Grade) and By Utilization (Food & Beverages, Medical & Healthcare, Metal Manufacturing, Chemicals & Petroleum Uses, Rubber & Plastic, Construction, and Others): Global Industry Perspective, Market Size, Statistical Research, Market Intelligence, Comprehensive Analysis, Historical Trends and Forecast 2021–2028" report at https://www.fnfresearch.com/nitrogen-market

This report segments the nitrogen market as follows:

Global Nitrogen Market: By Category Segmentation Analysis

  • Chemical Grade
  • Food Grade
  • Pharmaceutical Grade

Global Nitrogen Market: By Utilization Segmentation Analysis

  • Food & Beverages
  • Medical & Healthcare
  • Metal Manufacturing
  • Chemical & Petroleum uses
  • Rubber & Plastic
  • Construction
  • Others

Global Nitrogen Market: Regional Segmentation Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • Germany
    • The UK
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of the Middle East & Africa

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