New York
City, 01 February 2019: The Global Nitrous Oxide Market is expected to grow from USD 789.2
million in 2017 to USD 1,441.2 million by 2026, at
a CAGR of 6.2% during the forecast period according to a study published by
Polaris Market Research.
Increasing application of nitrous oxide
from medical, automotive and semiconductor manufacturing, chemical and even
food & beverage packaging industries are expected to drive its market.
Significant pervasiveness of several types of chronic diseases and increasing
number of geriatric population globally are anticipated to be some potential
implications for the product to experience higher demand during the forecast
period. Few of the non-medical applications of the product include
semiconductors, food processing & packaging and premium automobiles among
the major end-uses.
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The increasing application from the
semiconductor and automobile industry has been the present trend and hence
these two end-use segments are anticipated to be among the fastest growing
segments by the end of the forecast period. Higher definition new display
technologies including the ultra high definition and OLED require higher
amounts of nitrous oxide and this has been a new expansion in its demand.
Currently, the gas has also been used to manufacture metal oxide transistors
which are replacing the conventional silicon based technology ones.
Its use as food & beverage
propellant such as for whipped creams, industrial agents and foaming agents, as
fuel oxidizer in race cars and rockets are some of its promising application
sectors. But, it has been consider as a global warming compounds by Kyoto
protocol. Almost most of the warming contributions globally arise from
secondary reaction of fertilizers in solids and other agriculture sources.
Hence, this fact has been a major restraint in the industry growth till now.
The report provides an extensive
qualitative and quantitative analysis of the market trends and growth prospects
of the Global Nitrous Oxide Market, 2017-2026. This report
comprises a detailed geographic distribution of the market across North
America, Europe, APAC and South America, and MEA. North America is further
segmented into U.S., Canada. Europe is divided into Germany, UK, Italy, and
Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest
of Asia-Pacific.
Competitive
Landscape and Key Vendors:
Asia Pacific was the
largest regional market in 2017. Increasing demand from the medical industry
which has been growing in proportional to the region’s rising economy is
anticipated to be the primary source for it. Even the electronics manufacturing
industry of China, Japan, South Korea and even India has always been a major
contributor to Asia Pacific’s demand for this gas.
Presence of or increasing availability
of cheap but qualified and highly skilled labor in the region has attracted many
of the premium car manufacturers to set up their manufacturing facilities for
economies of scale. The rapidly developing and expanding automobile
manufacturing industry in this region also has and will further augment demand
for nitrous oxide over the next eight years.
Some of the leading industry
participants include KVK Corporation, SS Gas Lab Asia, Promas Engineers
Pvt. Ltd., Ellenbarrie Industrial Gases Ltd., Air Liquide S.A., Merck KGaA, SOL
S.p.A., Matheson Tri-Gas Inc., Airgas, Inc., The Linde Group, Praxair, Inc.,
and Oxygen and Argon Works Ltd.
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