Nitrous Oxide Market Report 2019-2029
Forecasts by Type (HCFC, HFC, HFO, Isobutane, Propane, Ammonia, Carbon Dioxide, Air, Water, Propene, Isopentane), Application (Domestic, Commercial, Industrial, Chillers, Split AC, VRF, Window, MAC), by Region and Analysis of Leading Companies
Factors Driving the Market Growth:
– Rising demand from medical industry
The medical sector’s use of nitrous oxide has minimal environmental impact. Nitrous oxide accounts for 5% of the complete greenhouse impacts, with only 1% of the nitrogen oxide produced from medicinal use into the environment. Medical nitrous oxide accounts for 0.05% of the total greenhouse gas emissions. Due to the elevated incidence of chronic diseases and the expansion of the geriatric population base in significant nations such as China and India, significant demand from Asia Pacific benefits the general industry.
– Increasing demand from automotive industry
Over the forecast period, the automotive segment is projected to record good development. Nitrous oxide is used in contemporary automobiles to considerably increase engine energy by enhancing the fuel mixture’s oxygen content, allowing the engine to burn more fuel. On trucks, motorcycles, snowmobiles, all-terrain vehicles and vehicles, most nitrous oxide systems are mounted.
Factors Restraining the Market Growth:
– Stringent rules and regulations
Strict rules and regulations on ownership, transport and use pose a challenge to market growth. The Center for Drug Evaluation and Research and the U.S. regulates the use of medical gases and their related machinery. Administration of food and drugs. These guidelines clarify methods and processes, including home respiratory facilities, for compressed medical gas fillers. Manufacturers are required to comply with the laws and regulations for medical gas production and marketing.
Market Segmentation 2019-2029:
The Nitrous Oxide Market is segmented on Application, and Regional basis.
– Food & Beverages
Focused regional forecasts and analysis explore the future opportunities:
– North America
– Global nitrous oxide competitive environment is expected to be moderate over the period ranging 2019 – 2029 by virtue of limited manufacturers operating in this industry
– The market competition is expected to be on the basis of new product development and product pricing.
Major Market Players:
Praxair Technology, Inc.; Oxygen & Argon Works Ltd.; The Linde Group; Matheson Tri-Gas, Inc.; SOL Spa; Merck KGaA; Air Liquide; Airgas, Inc.; Ellenbarrie Industrial Gases Ltd., Promas Engineers Pvt. Ltd., SS Gas Lab Asia, KVK Corporation, and Carbide and Chemicals.
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CCR Ref number: KD4R6
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