The global nitrous oxide market size was valued at USD 1020.5 million in 2020 and is expected to reach USD 1623 million by 2027 growing with a CAGR of 6.9% durong forecast period. Increasing demand from various industries such as automotive, electronics, medical, and food & beverages is expected to be the key trend stimulating market growth. In addition, significant demand from Asia Pacific, owing to the high prevalence of chronic diseases and widening base of the geriatric population in major countries such as China and India, is benefitting the overall market.
Nitrous oxide or laughing gas is a colorless and non-flammable gas with a slightly sweet odor, which is widely used for various medical and non-medical applications. Some of the non-medical end uses include racing cars, the semiconductor industry, and food processing. In the medical industry, it is widely used in surgery and dentistry procedures as an analgesic and anesthetic. Upon inhaling, it has excellent euphoric effects and this property has led to its recreational use as a dissociative anesthetic.
Medical was the largest segment in 2020 and the trend is anticipated to continue throughout the forecast period. Approximately 85 to 90% of nitrous oxide produced worldwide is utilized in the medical sector. It is extensively used in the medical sector as an anesthetic and analgesic agent in surgical and dentistry procedures. It is commonly used as a single agent for partial sedation in dentistry, mostly in pediatric dental applications. Increasing aging population across the world and the growing prevalence of dental problems are anticipated to contribute to the growth of the segment.
The automotive segment is estimated to register healthy growth over the forecast period. In modern automobiles, nitrous oxide is used to significantly boost engine power by increasing the oxygen content of the fuel mixture, thus enabling the engine to burn more fuel. The majority of nitrous oxide systems are installed on trucks, motorcycles, snowmobiles, all-terrain vehicle, and cars. However, legislation pertaining to the use of nitrous oxide in road vehicles varies from country to country, even within Europe.
The Nitrous Oxide market is segmented on the basis of application and region. On the basis of applications Automotive, Medical, Electronics, Food & Beverage and others.
North America was the leading revenue contributor in the global nitrous oxide market in 2020. The region is poised to offer huge opportunities over the forecast period. Increasing prevalence of chronic diseases such as cancer, type 2 diabetes, stroke, heart disease, obesity, and arthritis is supplementing the growth of the regional market. It is used as a carrier gas for producing powerful general anaesthesia. Airgas, a key manufacturer, and supplier, has a strong reach in North America with production facilities in Pensacola and Maitland in Florida, Ontario, Canada, and Mississippi.
Europe is also likely to be a prominent destination for global players. Chronic diseases are the major causes of mortality and morbidity in Europe. The majority of the aging population suffers from chronic diseases. In recent times, with an increase in income and sedentary lifestyles, young and middle-aged are also being diagnosed chronic diseases. These factors are projected to bolster the demand for nitrous oxide in the region.
The market is highly competitive and fragmented in nature with the presence of several key players in the global arena. Praxair Technology, Inc.; Oxygen & Argon Works Ltd.; The Linde Group; Matheson Tri-Gas, Inc.; SOL Spa; Merck KGaA; Air Liquide; Airgas, Inc.; and Ellenbarrie Industrial Gases Ltd. are some of the key players engaged in extensive R&D and production of nitrous oxide. Moreover, Promas Engineers Pvt. Ltd., SS Gas Lab Asia, KVK Corporation, and Carbide and Chemicals are some of the key players engaged in the manufacturing of nitrous oxide.
Nitrous oxide or laughing gas is a colorless and non-flammable gas with a slightly sweet odor, which is widely used for various medical and non-medical applications. Some of the non-medical end uses include racing cars, the semiconductor industry, and food processing. In the medical industry, it is widely used in surgery and dentistry procedures as an analgesic and anesthetic. Upon inhaling, it has excellent euphoric effects and this property has led to its recreational use as a dissociative anesthetic.
Medical was the largest segment in 2020 and the trend is anticipated to continue throughout the forecast period. Approximately 85 to 90% of nitrous oxide produced worldwide is utilized in the medical sector. It is extensively used in the medical sector as an anesthetic and analgesic agent in surgical and dentistry procedures. It is commonly used as a single agent for partial sedation in dentistry, mostly in pediatric dental applications. Increasing aging population across the world and the growing prevalence of dental problems are anticipated to contribute to the growth of the segment.
The automotive segment is estimated to register healthy growth over the forecast period. In modern automobiles, nitrous oxide is used to significantly boost engine power by increasing the oxygen content of the fuel mixture, thus enabling the engine to burn more fuel. The majority of nitrous oxide systems are installed on trucks, motorcycles, snowmobiles, all-terrain vehicle, and cars. However, legislation pertaining to the use of nitrous oxide in road vehicles varies from country to country, even within Europe.
The Nitrous Oxide market is segmented on the basis of application and region. On the basis of applications Automotive, Medical, Electronics, Food & Beverage and others.
North America was the leading revenue contributor in the global nitrous oxide market in 2020. The region is poised to offer huge opportunities over the forecast period. Increasing prevalence of chronic diseases such as cancer, type 2 diabetes, stroke, heart disease, obesity, and arthritis is supplementing the growth of the regional market. It is used as a carrier gas for producing powerful general anaesthesia. Airgas, a key manufacturer, and supplier, has a strong reach in North America with production facilities in Pensacola and Maitland in Florida, Ontario, Canada, and Mississippi.
Europe is also likely to be a prominent destination for global players. Chronic diseases are the major causes of mortality and morbidity in Europe. The majority of the aging population suffers from chronic diseases. In recent times, with an increase in income and sedentary lifestyles, young and middle-aged are also being diagnosed chronic diseases. These factors are projected to bolster the demand for nitrous oxide in the region.
The market is highly competitive and fragmented in nature with the presence of several key players in the global arena. Praxair Technology, Inc.; Oxygen & Argon Works Ltd.; The Linde Group; Matheson Tri-Gas, Inc.; SOL Spa; Merck KGaA; Air Liquide; Airgas, Inc.; and Ellenbarrie Industrial Gases Ltd. are some of the key players engaged in extensive R&D and production of nitrous oxide. Moreover, Promas Engineers Pvt. Ltd., SS Gas Lab Asia, KVK Corporation, and Carbide and Chemicals are some of the key players engaged in the manufacturing of nitrous oxide.
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