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.
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Usage of Nitrous Oxide in Various Industries:
Medical was the largest segment in 2016 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.
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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.
Market Evolution of Nitrous Oxide:
· The global nitrous oxide market size was valued at USD 805.1 million in 2016. 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.
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· The market in the U.S. was valued at USD 156.54 million in 2016. In the country, it is extensively used in the automotive, medical, and food & beverage sectors. Possession of nitrous oxide is legal in various states under federal law. However, the Food & Drug Administration regulates it under the Food Drug and Cosmetics Act, which prohibits the sale and distribution of human consumption.
· The use of nitrous oxide in the medical sector has a minimal impact on the environment. Nitrous oxide accounts for 5% of the total greenhouse effects, with only 1% of nitrogen oxide released into the atmosphere coming from medicinal use. Medical nitrous oxide accounts for 0.05% of the total gas emissions affecting the environment globally.
· North America was the leading revenue contributor in the global nitrous oxide market in 2016. 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 anesthesia. 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.
Conclusion:
For any doubt or issue related to Nitrous Oxide. You can get your hands on the project report by NPCS “. That has all the major components which have helped entrepreneurs, consultant institutional libraries, and existing units. The Project report aims at providing all the critical data required by any entrepreneur vying to venture into Project.
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