The North America Nitrous Oxide Market would witness market growth of 7.3% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 1,163.32 Hundred Tonnes, showcasing a growth of 4.8% (2019-2022).
Nitrous oxide, a colourless and odourless gas, has found itself at the intersection of diverse industries, from healthcare to culinary arts and electronics manufacturing. Widely known as "laughing gas" due to its euphoric effects, it has transcended its historical role in anaesthesia to become a versatile compound with applications ranging from medical procedures to creating culinary delights and producing semiconductors. It has firmly established itself as a cornerstone in the healthcare sector, particularly in surgery and dentistry.
Nitrous oxide's role extends to the automotive industry, where it serves as a performance-enhancing additive. Injected into the engine, it provides a temporary boost in power, making it a sought-after component in racing and high-performance vehicles. The electronics industry has harnessed the unique properties of this in semiconductor manufacturing. As a specialty gas in Chemical Vapor Deposition (CVD) processes, it forms thin films essential for producing electronic components. Its presence in agriculture raises environmental considerations.
The food and beverage industry in North America has seen a surge in molecular gastronomy trends, where chefs explore scientific principles and innovative techniques to create novel culinary experiences. The demand for unique and creative dishes continues to rise in North America, driven by consumers' increasing interest in diverse and experiential dining. As per the data from the U.S. Department of Agriculture, food and beverage manufacturing plants accounted for 16.8 percent of sales in 2021. Therefore, the growing food and beverage sector in the North America region will help expand the regional market.
The US market dominated the North America Nitrous Oxide Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $374.9 million by 2030. The Canada market is experiencing a CAGR of 9.7% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 8.8% during (2023 - 2030).
Based on Application, the market is segmented into Medical, Automotive, Electronics, Food Beverages, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Nitrous Oxide Market is Predict to reach USD 2 Billion by 2030, at a CAGR of 7.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Linde PLC, Chart Industries, Inc., Nippon Sanso Holdings Co., Ltd. (Mitsubishi Chemical Holdings), SOL Group, Merck KGaA, Air Liquide S.A., Ellenbarrie Industrial Gases Limited, Air Products and Chemicals, Inc., Promas Engineers Pvt. Ltd., and SS GASLAB ASIA PVT. LTD.
By Application (Volume, Hundred Tonnes, USD Billion, 2019-2030)
By Country (Volume, Hundred Tonnes, USD Billion, 2019-2030)
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