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Global Liquid Nitrogen Market – Industry Trends and Forecast to 2029

  • Chemical and Materials
  • Upcoming Report
  • May 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Liquid Nitrogen Market, By Function (Coolant, Refrigerant), Production Technology (Cryogenic Distillation, Pressure Swing Adsorption), Storage, Distribution and Transportation (Cylinders and Packaged Gas, Merchant Liquid/Bulk, Tonnage), End-use Industry (Healthcare, Food and Beverages, Chemicals and Pharmaceuticals, Metal Manufacturing and Construction, Rubber and Plastic, Others) – Industry Trends and Forecast to 2029

 

Liquid Nitrogen Market

Market Analysis and Size

Liquid nitrogen is widely used as the cryogenic fluid in the immersion and it is produced by using cryogenic distillation. Liquid nitrogen is frequently used to preserve food, biological, and medical items due to its capacity to rapidly chill and be safe for food ingredients. Furthermore, it is non-toxic and inert to food goods and their constituents in nature, which is expected to raise market demand. The fast expansion of the chemical and pharmaceutical industries has increased demand for liquid nitrogen, propelling market development. Furthermore, the flourishing food and beverage industry is also anticipated to significantly drive the liquid nitrogen market during the forecast period.

Data Bridge Market Research analyses that the liquid nitrogen market was valued at USD 15.98 billion in 2021 and is expected to reach USD 23.61 billion by 2029, registering a CAGR of 5.00 % during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.

Market Definition

Nitrogen is a diatomic element which has found in the atmosphere and is present in the gaseous state at normal temperature. Liquid nitrogen is a cryogenic liquid and it is liquefied at a very low temperature at near negative 320 degrees Fahrenheit or negative 196 degrees Celsius. Liquid nitrogen is odour less, colourless and non-flammable liquid which is prepared by the process which has known as pressure swing absorption. Liquid nitrogen has an extensive range of applications including cooling agent.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Function (Coolant, Refrigerant), Production Technology (Cryogenic Distillation, Pressure Swing Adsorption), Storage, Distribution and Transportation (Cylinders and Packaged Gas, Merchant Liquid/Bulk, Tonnage), End-use Industry (Healthcare, Food and Beverages, Chemicals and Pharmaceuticals, Metal Manufacturing and Construction, Rubber and Plastic, Others)

Countries Covered

U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa

Market Players Covered

Air Products and Chemicals Inc. (U.S), Linde Plc (Germany), Praxair Technology Inc., (U.S.), NEXAIR. (U.S.), Air Liquide S.A. (France), Taiyo Nippon Sanso Corporation (Japan), Gulf Cryo (UAE), Emirates Industrial Gases Co. LLC. (UAE), Southern Industrial San Bhd (Malaysia), Universal Industrial Gases Inc, (US), Yingde Gases Group (China), Messer Group (Germany), AMCS Corporation (US), Statebourne Cryogenics (US), AIGA (Singapore)

Market Opportunities

  • Increase in the number of emerging markets
  • Increasing number of product innovations
  • Rising the usage of product
  • Various application of liquid nitrogen

Liquid Nitrogen Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

  • Increase in demand due to adverse properties

Liquid nitrogen is highly used in the chemical and pharmaceutical industry because of their adverse properties such as colorless, chemically unreactive, non-toxic, odorless and inflammable. These properties is expected to driving the growth of liquid nitrogen market.

  • Increasing demand from healthcare domain

Liquid nitrogen used in removal of warts, unwanted skin, precancerous cells and cryogenics. Liquid nitrogen is commonly considered the cryogenic liquid capable of fast freezing within the contact of living cells. Which is expected to driving the growth of liquid nitrogen market.

  • Growing food and beverage industry

Rapid modernization, increases the popularity of packaged food significantly due to this increase the concern about food preservation. Liquid nitrogen being chemically unreactive which plays a vital role in freezing and cooling the food products and thereby increasing their shelf life. 

  • Increasing automotive production

Increasing air pollution all over the world and vehicle emissions have a major concern. It is very essential to engineer an alternative to the current traditional gasoline vehicles. Liquid vehicles fueled by nitrogen can act as a brilliant alternative. Thus, liquid nitrogen is highly used in automobiles as a coolant.

Opportunities

  • Rising the usage of product

The market for liquid nitrogen is growing in the electronics industry due to increased product usage in the manufacturing of flat panel displays, light emitting diodes, and semiconductors, which will further boost various opportunities that will lead to the growth of the liquid nitrogen market over the forecast period.

  • Various application of liquid nitrogen

Rise in demand for frozen ice-cream from developing end use industries and developed economies is trending in the market. However, rise in applications in cryotherapies, cryopreservation and cryosurgeries for moles, curing skin, removing the skin tags and skin cancers is offering opportunities to the market.

Restraints/ Challenges

The freezing property of liquid nitrogen also has harmful impacts. The liquid nitrogen vapour could rapidly freeze skin tissues and cause cold burns. If a person swallows a bit of liquid nitrogen then it can cause irritation in the stomach. The elongated use of liquid nitrogen might cause various health issues, including loss of consciousness, vomiting, nausea, etc. So, these are some factors which are hampering the liquid nitrogen market growth.

This liquid nitrogen market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the liquid nitrogen market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Liquid Nitrogen Market

COVID-19 has hindered the growth of the liquid nitrogen market. The transportation industry has been hit hard by the epidemic as a result of global lockdowns. However, owing to the ongoing pandemic, the healthcare industry has witnessed vast growth due to increase the health concerns. This may further rise the demand for the liquid nitrogen market, as the demand for medical devices is expected to increase in the upcoming years.

Recent Development

  • In February 2021, Inox Air Products declared to invest USD 2,000 crore to build plants, this company will build eight new air separation units all across India. These new plants will be in states such as Madhya Pradesh, Uttar Pradesh, Andhra Pradesh, Gujarat, Maharashtra, Tamil Nadu, and West Bengal.
  • In March 2021, Bluefors and Linde signed an agreement which is to create cooling solutions for the large-scale quantum computers.
  • As of June 2021, Inox Air Products declared that it proposed a plant at Hosur and will be commissioned and operational in December 2022, which will produce liquid nitrogen and others.

Global Liquid Nitrogen Market Scope

The liquid nitrogen market is segmented on the basis of function, production technology, storage, distribution and transportation and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Function

 Production Technology

  • Cryogenic Distillation
  • Pressure Swing Adsorption

Storage, Distribution and Transportation

  • Cylinders and Packaged Gas
  • Merchant Liquid/Bulk
  • Tonnage                             

End-use Industry

  • Healthcare
  • Food and Beverages
  • Chemicals and Pharmaceuticals
  • Metal Manufacturing and Construction
  • Rubber and Plastic
  • Others

Liquid Nitrogen Market Regional Analysis/Insights

The liquid nitrogen market is analysed and market size insights and trends are provided by country, function, production technology, storage, distribution and transportation and end-user as referenced above.

The countries covered in the liquid nitrogen market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa.

North America dominates the liquid nitrogen market in terms of market share and revenue and will continue to flourish its dominance during the forecast period. This is due to the rising demand for liquid nitrogen in this region. The North America region dominates the liquid nitrogen market in terms of the rapid growth in the health care industry in this region.

During the projected period, Asia-Pacific is expected to be the fastest developing region due to the rise in demand for liquid nitrogen in the pharmaceutical sector and also for cooling applications in this region

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Liquid Nitrogen Market Share Analysis

The liquid nitrogen market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to liquid nitrogen market.

Some of the major players operating in the liquid nitrogen market are:

  • Air Products and Chemicals Inc. (U.S)
  • Linde Plc (Germany)
  • Praxair Technology Inc., (U.S.)
  • NEXAIR. (U.S.)
  • Air Liquide S.A. (France)
  • Taiyo Nippon Sanso Corporation (Japan)
  • Gulf Cryo (UAE)
  • Emirates Industrial Gases Co. LLC. (UAE)
  • Southern Industrial San Bhd (Malaysia)
  • Universal Industrial Gases Inc, (USA)
  • Yingde Gases Group (China)
  • Messer Group (Germany)
  • AMCS Corporation (US)
  • Statebourne Cryogenics (US)
  • AIGA (Singapore)

Research Methodology: Global Liquid Nitrogen Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The stage includes the obtainment of market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Customization Available

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.


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Frequently Asked Questions

The market value for liquid nitrogen market is expected USD 23.61 billion by 2029.
The liquid nitrogen market is to grow at a CAGR of 5.00% during the forecast period of 2022 to 2029.
On the basis of product, the Liquid Nitrogen Market is segmented into Cryogenic Distillation, Pressure Swing Adsorption.
The major countries covered in the Liquid Nitrogen Market are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa.