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.
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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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