Quarterly update on global Bulk Nitrogen Market
For the Quarter Ending December 2020
During Q4 2020, the overall recovery of Asia was deemed as good, and industries were getting a boost to come on track again. Air Liquide, one of the leading bulk gas suppliers across the world, revealed that they have experienced maximum growth in sales from China of around 10% due to the recovery observed in the metal fabrication sector and automotive in Q4. In addition, 10% growth was witnessed in carrier gases and advance materials sector which positively impacted the demand for Nitrogen. Despite prospects for pick-up in demand from the country’s steel industry, liquid Nitrogen pricing in India was averaged around USD 535 per tonne during the quarter ending December 2020.
Despite of experiencing steady growth in various industrial activities, the sales to the industrial sectors like metal fabrication and automotive remained low. However, in comparison to the previous year the position of metal manufacturing industry in the region was seemed to improve. With gradual revival in the metal fabrication industry towards the end of Q4, demand for bulk Nitrogen from gas blanketing and laser cutting segments also improved. Nucor, a leading steel manufacturer in USA revealed that their overall demand for bulk gases increased by around 7% from Q3 to Q4, thereby indicating towards a positive demand for industrial Nitrogen.
Sales of metal manufacturing & fabrication materials showed an appreciable revival during Q4 2020, which caused a direct impact on the demand of Nitrogen in Europe. Air Liquide experienced a strong demand for liquid gases from the eastern European region, specially from Poland and Russia. Thus, in comparison to Q4 2019, the overall prices of Liquid Nitrogen surged by 1.7 per cent in the same period this year.
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Daily updates on industry-specific and product-specific news, exclusive primary-based news capturing plant shutdowns/outages/closures, capacity expansions, operating rates, insights on demand-supply situation, awarding of technology licenses, new product launch and deals specifying mergers and acquisitions, strategic investments and disinvestments, to help players capitalize on market opportunity.
ChemAnalyst gathers information through primary research surveys conducted with various Bulk Nitrogen manufacturers, spread across the domestic and international market, suppliers and dealers/distributors to gain insights into value-chains and demand-supply scenario to assess the market situation. Thorough study of company’s annual reports and secondary sources such as exhaustive search on credible paid databases, including our internal database is done to verify the information. All the collected information is analysed, evaluated and presented in chronological order to depict a meaningful and clear picture of the concerned market.
Our dedicated team of industry experts comprehensively monitors and analyses various aspects of the Global Bulk Nitrogen market. The team analyses various industrial segments, strategic viewpoints and provides an analysis of the industry’s performance in the long run. This would enable our clients in efficiently plan their future investments, mitigate risk, understand the cost dynamics and strike out a balance amidst market volatility.
Critical examination of the impact of COVID-19 pandemic on the global supply chains and shift in demand patterns with change in buying behaviour of consumers across the globe.
Several ongoing development projects across industries are tracked, followed by the details of major projects in the development stage, which can positively or negatively influence Global Bulk Nitrogen market.
Pricing is captured through exhaustive primary interviews with domestic and international manufacturers, traders and importers and customers on monthly and yearly basis.
Finally, region-specific markets for Bulk Nitrogen are analysed and region-wise demand pattern is tracked.
Nitrogen gas is a colourless, odourless gas with the chemical formula N2. It is found in abundance in atmosphere, covering around 78% of the total air volume. There are countless applications of Nitrogen, but the major industrial demand comes from the metal manufacturing, chemicals, food & beverages, and agrochemicals sectors. Major industrial applications of Nitrogen include nitrogen gas blanketing, nitrogen purging, nitrogen injection and others. Besides, liquid Nitrogen is also used for the purpose of refrigeration in food & beverage industry. Owing to its inert nature, liquid Nitrogen is utilized as a refrigerant to produce ice-creams. In pharmaceutical industry liquid Nitrogen is used to maintain reaction temperature, for refrigeration and as an inert to protect medicines from oxidation. Cryogenic fractional distillation process is used to produce Nitrogen by liquification of air at a very low temperature i.e., -195.79°C (-320°F).