Global Industrial Nitrogen Market Size Anticipated to Observe Growth at a Steady Rate of 7.90% for the Study Period 2022-2029

 The industrial nitrogen market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses the market to grow at a CAGR of 7.90% in the above-mentioned forecast period.

Nitrogen is basically an odorless and colorless chemical compound that is widely utilized in the manufacturing of ammonia, cyanides, nitric acid, nitrates and oxides. It is generally used in the production of fertilizers as well as in various food and beverage industries, manufacturing of pharmaceutical drugs such as antibiotics.

The factors such as its utilization as a retention agent in the food and beverage industries are the root cause fueling up the market growth rate. The factors expected to cushion the growth of the industrial nitrogen market in the forecast period are the rising population of the region with high disposable incomes and growing industrialization which will further carve the way for the growth of market.  Moreover, its properties such as it aids in extending the shelf life of foods and keep them fresh, which increases the need for industrial nitrogen which are further expected to cushion the overall markets growth. On the other hand, the factors such as excessive quantity of nitrogen can degrade the soil quality and the stringent government regulation regarding the usage of eco-friendly products are expected to impede the growth of the industrial nitrogen market.  The volatile raw material prices coupled with the stringent regulatory scenario are also projected to hamper market’s overall growth.

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