Dublin, May 25, 2021 (GLOBE NEWSWIRE) -- The "Nitrogen Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
Nitrogen Global Market Report 2021: COVID-19 Impact and Recovery to 2030 provides the strategists, marketers and senior management with the critical information they need to assess the global nitrogen market as it emerges from the COVID-19 shut down.
Major players in the nitrogen market are 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 and nexAir.
The global nitrogen market is expected to grow from $27.35 billion in 2020 to $28.61 billion in 2021 at a compound annual growth rate (CAGR) of 4.6%.
The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.
The market is expected to reach $33.17 billion in 2025 at a CAGR of 4%.
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.
Industrial gas companies are increasingly using pressure swing adsorption (PSA) technology as a cost-effective and highly efficient method to produce nitrogen. PSA systems operate on the principle of adsorption. They consist of adsorption vessels packed with carbon molecular sieves (CMS) which are capable of adsorbing carbon dioxide and residual moisture.
At high pressures, CMS selectively adsorbs oxygen, thus allowing nitrogen to pass through at the desired purity level. Onsite generation of nitrogen using PSA systems is more cost-effective than traditional cryogenic distillation or stored liquid nitrogen. PSAs can economically produce nitrogen at flow rates from less than 5,000 scfh to greater than 60,000 scfh, and at purities from 95% to 99.9995%.
Mahler AGS, a German manufacturer of on-site gas generation plants, is using PSA systems for low-cost production of nitrogen. Major industrial gas companies such as Linde, Air Products, Air Liquide, and Praxair are using PSA systems to enhance nitrogen production.
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 Trends and Strategies
4. Impact of COVID-19 on Nitrogen
5. Nitrogen Market Size and Growth
5.1. Global Nitrogen Historic Market, 2015-2020, $ Billion
5.1.1. Drivers of the Market
5.1.2. Restraints on the Market
5.2. Global Nitrogen Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers of the Market
5.2.2. Restraints on the Market
6. Nitrogen Market Segmentation
6.1. Global Nitrogen Market, Segmentation by Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.2. Global Nitrogen Market, Segmentation by End Use Industry, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Oil & Gas
Metal Manufacturing & Fabrication
Food & Beverage
Pharmaceutical & Healthcare
6.3. Global Nitrogen Market, Segmentation by Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Science and Research
7. Nitrogen Market Regional and Country Analysis
7.1. Global Nitrogen Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Nitrogen Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Air Products and Chemicals
Southern Industrial Gas Berhad
Taiyo Nippon Sanso Corporation
Emirates Industrial Gases Co. LLC
Chengdu Taiyu Industrial Gases
Universal Industrial Gases
Yingde Gases Group Company
Aspen Air Corp.
For more information about this report visit https://www.researchandmarkets.com/r/fw8aim
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