The nitrous oxide market, also known as laughing gas or N2O, plays a multifaceted role in various industries, including healthcare, food processing, and automotive, and it’s a vital component in certain industrial applications. Nitrous oxide is a colorless and odorless gas with diverse uses, including as a sedative in medical procedures, a propellant in aerosol cans, and an oxidizer in the automotive industry for performance-enhancing purposes. The market for nitrous oxide has experienced growth due to its versatility and expanding applications.
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Nitrous oxide market Segmentation:
- By product, medical grade segment accounted for major revenue share in 2019. Nitrous oxide gas used an anesthetics agent as well as pain reducing agents are some factors expected to support growth of this segment over the forecast period.
- By application, the application segment holds for major revenue share in 2019, and expected to register a CAGR of 6.8% over the forecast period. Increasing end-use applications of nitrous oxide gas in clinics, hospitals and dental clinics for various procedures is in turn expected to boost growth of the segment over the forecast period.
- By region, North America nitrous oxide market accounted for major revenue share of the global nitrous oxide market and is further anticipated to maintain its dominance over the forecast period. Presence of key manufacturers, coupled with increasing use of nitrous oxide in medical as well as non-medical sector. The Europe market is expected to account for second highest revenue share in the global market in 2019.
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Future Growth in the Nitrous Oxide Market:
- Medical and Dental Applications: Nitrous oxide continues to be widely used in medical and dental settings as an inhalation anesthetic and analgesic for pain management during minor medical procedures. Its non-invasive nature and quick onset make it a preferred choice for patient comfort.
- Whipped Cream Propellant: In the food industry, nitrous oxide is utilized as a propellant in aerosol cans for whipped cream and other foaming applications. As consumer preferences for convenience and indulgent treats persist, the demand for nitrous oxide in this segment remains steady.
- Automotive Performance Enhancement: Nitrous oxide is employed by automotive enthusiasts and racers to boost engine performance. The use of nitrous oxide injection systems for instant power and acceleration enhancements continues to be a trend, driving demand in the automotive sector.
- Environmental Concerns: Environmental awareness and regulations regarding greenhouse gas emissions are influencing the use of nitrous oxide in some applications. Efforts are being made to reduce nitrous oxide emissions, particularly in agricultural and industrial processes, where it can contribute to greenhouse gas accumulation.
- Emerging Industrial Applications: Nitrous oxide is used as an oxidizing agent in various industrial applications, such as semiconductor manufacturing and aerospace propulsion systems. Advancements in these industries may lead to increased demand for high-purity nitrous oxide.
- Healthcare Market Growth: The healthcare sector is expected to witness continued growth, with nitrous oxide being an integral part of anesthesia and sedation practices. An aging population and advancements in medical technology are expected to contribute to increased healthcare-related nitrous oxide usage.
Top Key Players are covered in the nitrous oxide market Report:
Key players operating the global nitrous oxide market includes,
- Praxair Technology, Inc.
- Oxygen & Argon Works Ltd
- Linde Group
- Matheson Tri-Gas, Inc.
- SOL S.p.A.
- MERCK Kommanditgesellschaft auf Aktien
- Air Liquide International S.A.
- Airgas, Inc.
- Ellenbarrie Industrial Gases Ltd.
- Promas Engineers Pvt. Ltd.
- S S Gas Lab Asia Pvt Ltd
- KVK Corporation
- Carbide Chemical Limited.
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