The nitrous oxide market occupies a unique position in the realm of industrial gases, finding diverse applications across various sectors, from medical and dental procedures to the food and automotive industries. Commonly known as “laughing gas,” nitrous oxide’s significance extends beyond its anesthetic and euphoric properties. It serves as a vital component in numerous critical applications, including the manufacturing of electronic components, foaming agents, and even rocket propulsion. With an increasing recognition of its versatility and environmentally friendly attributes, the nitrous oxide market is witnessing a surge in demand. In a world increasingly focused on sustainability and innovation, this introductory resurgence of interest in nitrous oxide paves the way for an exploration of its multifaceted role and the market dynamics that drive its growth.
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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Trends are shaping the nitrous oxide market:
- Medical and Dental Applications: The use of nitrous oxide in medical and dental procedures continues to grow. Its mild sedative and analgesic properties, coupled with the preference for minimal invasive techniques, drive demand in these fields.
- Food and Beverage Industry: Nitrous oxide, often referred to as a food-grade propellant, is increasingly used in the food and beverage industry. It is utilized for whipping creams and creating foams in various culinary applications, especially in the craft beverage and culinary sectors.
- Electronic and Semiconductor Manufacturing: Nitrous oxide plays a crucial role in semiconductor fabrication processes, such as chemical vapor deposition (CVD). The growing electronics industry and the demand for smaller, more powerful devices contribute to the increased use of nitrous oxide.
- Environmental Applications: The environmental benefits of nitrous oxide, such as its use in catalytic converters to reduce automobile emissions, have garnered attention. As global environmental regulations become more stringent, the demand for catalytic converters and, by extension, nitrous oxide, is rising.
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Key players operating the 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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