MarketsandMarkets projects that the industrial nitrogen market size will grow from USD 15.03 Billion in 2017 to USD 19.96 Billion by 2022, at a CAGR of 5.83%. The industrial nitrogen market is witnessing considerable growth due to advancements in industrial nitrogen technology and the growing metal manufacturing & fabrication and food & beverage industries. The growing demand from end-use industries due to its benefits and wide-scale application are the key factors driving the growth of the industrial nitrogen market.
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The key players in the industrial nitrogen market include Praxair (US), Air Products and Chemicals (US), Air Liquide (France), Linde (Germany), and Taiyo Nippon Sanso (Japan). Other players in this market include Messer Group (Germany), Nexair LLC (US), and Gulf Cryo (Kuwait). These players adopted various strategies such as expansions & investments, joint ventures, agreements & contracts, mergers & acquisitions, and new product & technology launches to strengthen their position, expand their global presence, and increase their share in the market.
Praxair is engaged in the production and supply of industrial gases such as of oxygen, nitrogen, argon, carbon dioxide, helium, hydrogen, and rare gases. The company offers liquid nitrogen and nitrogen gas in various purities and concentrations under the gases division. It serves various groups of industries such as metals, energy, chemicals, healthcare, food & beverage, and others. The company has adopted organic and inorganic strategies such as expansions & investments and agreements & contracts to expand its global presence. For instance, in July 2017, Praxair set up a new air separation plant (ASP) to supply 700 tons of nitrogen per day to Samsung’s display manufacturing complex in Tangjeong, South Korea. This ASP is Praxair’s third one supporting the facility. Samsung’s Tangjeong complex, the world’s first and largest sixth generation flexible Organic Light Emitting Diodes (OLED) panel plant, is expanding to meet the increasing demand for future generation displays. In October 2017, Praxair signed a long-term agreement with GlobalFoundries (US) for the supply of gaseous nitrogen. With this agreement, Praxair will build, own, and operate a state-of-the-art plant to support GlobalFoundries advanced manufacturing processes at its Malta fabrication facility.
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Air Liquide is one of the leading companies in the industrial nitrogen market. The company is engaged in the production and supply of industrial gases such as oxygen, nitrogen, argon, and specialty gases, among others. The company operates through three business segments, namely, gas & services, engineering & technology, and global market & technologies. The company has maintained its leadership position through its strong distribution network across Europe, America, the Middle East & Africa, and Asia Pacific. The company continues to expand its capacity by adopting organic strategies such as expansions and inorganic strategies such as acquisitions, joint ventures, and agreements across the world.
In May 2016, Air Liquide acquired Airgas (US) in a multibillion dollar deal. With the acquisition of Airgas, Air Liquide strengthened its global leadership in the industrial gas sector. The combined entity will be able to better serve customers with more competitive product offerings through advanced multi-distribution networks in the US.
In September 2017, Air Liquide signed a joint venture agreement with Sinopec (China Petroleum & Chemical Corp.) for the takeover and optimization of three existing air separation units and the building of a new nitrogen production unit, with a total investment of USD ~50 million. Air Liquide-BYPC Gases, the new joint venture will supply oxygen and nitrogen to Sinopec Beijing Yanshan Co. with a total capacity of 110 tonnes of nitrogen and 340 tonnes of oxygen per day.
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