- The nitrous oxide market is likely to undergo major expansion from 2015 to 2022. Growing food industry applications and aging demography are causing the market to expand. Increasing geriatric population in emerging countries such as China, Japan, U.S., and Germany would boost market incomes in the pharmaceutical industry.
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The affordability of healthcare services in developing economies coupled with disposable incomes will bring about market equilibrium. Semiconductor procedures making use of nitrous oxide comprise chamber seasoning, chemical vapor deposition, fast heat processing, and dispersion.
In 2014, the application of semiconductors contributed a major share in the global market. It will experience rapid growth in the upcoming years. Growing semiconductor consumption and electronics manufacturing in developing economies such as Brazil, China, and India are estimated to raise nitrous oxide market sales.
Frequently changing policies and stern regulations in regards to nitrous oxide usage are likely to obstruct the market in the coming years. Health effects associated with extensive exposure to nitrous oxide include audio-visual disability, asphyxiation, and reduced mental performance.
Such harmful effects are negatively impacting the nitrous oxide market. Yet another factor that casts a shadow on the market is mounting environmental concerns regarding nitrous oxide emissions. The considerably expanding semiconductor and healthcare industries worldwide are providing vast opportunities to market participants.
Europe dominated one of the market’s end-user segments, i.e. aerosol propellants. Asia Pacific will experience speedy demand for the same end-user in the forthcoming years. The region is estimated to dominate the semiconductors application in the forecast period. North America has dominated the geriatric application in the past.
In 2014, the Asian Pacific nitrous oxide market contributed majority of the global shares. Developing economies such as Korea, China, Taiwan, Malaysia, and Japan would undergo further expansion. China accounted for the biggest market and will display similar trends in the future.
Surging demand for anesthesia, and rising population and per capita incomes in emerging countries will also influence the market. The leading participants in the nitrous oxide market include National Industrial Gas Plants, The Linde Group, Taiyo Nippon Sanso Corp, Airgas Inc., Praxair Inc., Air Liquide, and Air Products.
These players are attempting to boost their manufacturing capacities and get a better market foothold over others.
Information Source: Grand View Research
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