Nitrous Oxide: Introduction
- Nitrous oxide or laughing gas is a colorless and non-flammable gas with a slightly sweet odor. It is widely used in various medical and non-medical applications. Its non-medical end-uses include racing cars, 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 offers excellent euphoric effects. This property has led to its recreational use as a dissociative anesthetic.
Key Drivers of Global Nitrous Oxide Market
- Growth of the geriatric population and rise in incidences of chronic diseases are key factors driving the global nitrous oxide market. Increase in demand for nitrous oxide in various end-user industries such as foods & beverages, medical, automotive, and electronics is also likely to boost the global nitrous oxide market in the next few years. Nitrous oxide is also primarily used in several medical and non-medical applications.
- Nitrous oxide is widely used in dentistry procedures and surgeries. The usage of nitrous oxide in the medical industry has less impact on the environment.
Medical Application Segment to Dominate Global Market
- Medical was the major application segment of the global market in 2020. The segment is expected to expand at significant rate during 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. Increase in aging population across the world and growth in prevalence of dental issues are anticipated to boost the segment in the near future.
- The automotive segment is estimated to register healthy growth during 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. Most of the nitrous oxide systems are installed on trucks, motorcycles, snowmobiles, all-terrain vehicle, and cars. However, legislations pertaining to the use of nitrous oxide in road vehicles varies from one country to another, even within Europe.
COVID-19 Impact on Nitrous Oxide Market
- Restriction on trade and shortage in supply of raw materials from China-based manufacturers due to the COVID-19 pandemic have resulted in a severe demand-supply gap for various products including nitrous oxide. Manufacturers are further expected to be stranded on raw material orders owing to the logistics industry being significantly impacted due to lockdown amid the COVID-19 pandemic. However, high demand of nitrous oxide in medical applications is expected to drive the market in 2021.
Asia Pacific to Hold Significant Share of Global Nitrous Oxide Market
- In terms of region, the global nitrous oxide market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is anticipated to account for major share of the global market by 2031. Increase in prevalence of chronic diseases such as cancer, type 2 diabetes, stroke, heart disease, obesity, and arthritis is driving the market in the region. It is used as a carrier gas for producing powerful general anesthesia.
- Significant investments in development of biomedical engineering in North America is expected to boost the demand for nitrous oxide in the region. However, enactment of stringent regulations on the usage of nitrous oxide in North America and Europe is projected to hinder the nitrous oxide market in these regions. Regulatory authorities such as the Food and Drugs Administration, the U.S. Environmental Protection Agency, and the Health and Consumer Protection Directorate are investigating the potentially harmful impacts of nitrous oxide on the environment and human health.
- Europe is also likely to be a prominent destination for global players. Chronic diseases are the major causes of mortality and morbidity in Europe. Majority of the aging population in the region suffers from chronic diseases. The middle-aged population is also being increasingly diagnosed with chronic diseases due to their sedentary lifestyle. These factors are projected to bolster the demand for nitrous oxide in the region.
Key Players Operating in Market
Companies are expected to invest significantly in research & development activities. Collaborations are also scheduled to emerge as one of the strategic initiatives used by companies engaged in new product development. Capacity expansion and new product launches are prevalent in the industry. Key players operating in the global nitrous oxide market include:
- 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.
Global Nitrous Oxide Market: Research Scope
Global Nitrous Oxide Market, by Application
- Automotive
- Medical
- Electronics
- Food & Beverages
- Others
Global Nitrous Oxide Market, by Region
- North America
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Russia & CIS
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- ASEAN
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
