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Global Liquid Nitrogen Market - Industry Trends and Forecast to 2030

Chemical and Materials

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Global Liquid Nitrogen Market - Industry Trends and Forecast to 2030

  • Chemical and Materials
  • Upcoming Report
  • Jun 2023
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Liquid Nitrogen Market - Industry Trends and Forecast to 2030

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2022–2030
Diagram Market Size (Base Year) USD 16,779.00 USD Million
Diagram Market Size (Forecast Year) USD 24,790.22 USD Million
Diagram CAGR %

Major Markets Players

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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 2030.

Liquid Nitrogen Market

Liquid Nitrogen Market Analysis and Size  

The liquid nitrogen market consists of the production, distribution, and use of extremely cold nitrogen gas in liquid form. It is produced through cryogenic distillation that is further stored in insulated containers, and used in various industries. It is used for freezing and preserving food, biological samples cryopreservation, and pharmaceutical applications among others. Liquid nitrogen can cool rapidly and maintain product quality across medical treatments and different industrial processes that require low temperatures.

Data Bridge Market Research analyses that the liquid nitrogen market which was USD  16,779.00 million in 2022, would rocket up to USD  24,790.22 million by 2030, and is expected to undergo a CAGR of 5.0% during the forecast period of 2023 to 2030.  

 “Coolant” dominates the function segment of the liquid nitrogen market owing to the extensive use of liquid nitrogen in different industries for freezing and preserving products and for cryosurgery and cryopreservation in the medical field. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand

Liquid Nitrogen Market Scope and Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015-2020)

Quantitative Units

Revenue in USD Million, 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

North America (U.S., Canada, and Mexico), South America (Brazil, Argentina, and Rest of South America), Europe (Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, and Rest of Europe), Asia-Pacific (Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, and Rest of Asia-Pacific), Middle East and Africa (U.A.E, Saudi Arabia, Egypt, South Africa, Israel, and Rest of the 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, (U.S.), Yingde Gases Group (China), Messer Group (Germany), AMCS Corporation (U.S.), Statebourne Cryogenics (U.S.), AIGA (Singapore)

Market Opportunities

  • Increasing number of product innovations
  • Diverse application of liquid nitrogen

Market Definition

Liquid nitrogen is used in various commercial activities and is associated with production and utilization in different applications across industries. Liquid nitrogen is used as a coolant, cryogenic freezing agent, and preservation tool, serving a wide range of sectors such as food and beverage, healthcare, manufacturing, and pharmaceuticals. The market is driven by the demand for efficient cooling and preservation solutions from various sectors due to their unique properties and applications.

Liquid Nitrogen Market Dynamics

Drivers:

  1. Increase in demand due to the advantageous properties: The liquid nitrogen demand is attributed to the beneficial properties it has, such as colorless, chemically unreactive, non-toxic, odorless, and non-flammable. These unique characteristics drive the increased adoption of liquid nitrogen, particularly in sectors like chemicals and pharmaceuticals, contributing to the market's growth.
  2. Rising need for liquid nitrogen from the healthcare sector: Liquid nitrogen is used in the removal of warts, unwanted skin, precancerous cells, and cryogenics, where it exhibits fast freezing properties on living cells and is anticipated to be a significant driver for the growth of the liquid nitrogen market.
  3. Expanding food and beverage industry: The rapid modernization, customer preference and increasing popularity of packaged food in the food and beverage industry have issues related to food preservation. The chemically unreactive nature of liquid nitrogen plays an important role in freezing and cooling food products thus extending its shelf life and improving food preservation.

Restraints:                                      

  1. Side effects associated with liquid nitrogen: Although liquid nitrogen has several benefits, it too has potentially harmful effects. The rapid freezing of skin tissues by liquid nitrogen vapor can lead to cold burns. Moreover, ingestion of liquid nitrogen may cause stomach irritation. Extended exposure to liquid nitrogen can too result in various health problems that include loss of consciousness, vomiting, and nausea.

Opportunities:

  1. A diverse range of applications: The increasing demand of the population for ice cream offers new market opportunities for the growth of the liquid nitrogen market. Also, there is an increase in the application of liquid nitrogen in cryotherapies, cryopreservation, and cryosurgeries for various purposes such as mole removal, skin treatment, skin tag removal, and treatment of skin cancers.

Challenges:

  1. Supply chain issues: The market faces a challenge with respect to storage, transportation, and handling of liquid nitrogen because of its specialized requirements and infrastructure need that pose a challenge for manufacturers and suppliers.

This liquid nitrogen market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the 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 make an informed market decision to achieve market growth.

Recent Development

  • In September 2021, Crown India Enterprises established a new liquid nitrogen plant in Samba's industrial area of the Jammu Kashmir region of India. The company has expanded its operations to liquid nitrogen and increased its storage capacity to 20,000 KL. This development aims to ensure the easy availability of liquid nitrogen in the region at competitive prices.

Global Liquid Nitrogen Market Scope

The liquid nitrogen market is segmented on the basis of function, production technology, storage, distribution and transportation, and end-use industry. 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 (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)

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

Liquid Nitrogen Market Regional Analysis/Insights

The Liquid Nitrogen market is analysed and market size insights and trends are provided by application and substrate and are referenced above.

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

North America is expected to dominate the liquid nitrogen market because of the increasing adoption of liquid nitrogen in various application areas such as food preservation, pharmaceuticals, and manufacturing.

Asia-Pacific is expected to witness significant growth during the forecast period of 2023 to 2030 due to the growing healthcare industry and booming industrial growth.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically 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, the 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 competitors. 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 the 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, (U.S.)
  • Yingde Gases Group (China)
  • Messer Group (Germany)
  • AMCS Corporation (U.S.)
  • Statebourne Cryogenics (U.S.)
  • AIGA (Singapore)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed 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. 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.

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FREQUENTLY ASK QUESTIONS

The Liquid Nitrogen Market size will be worth USD 24,790.22 million by 2030 during the forecast period.
The Liquid Nitrogen Market growth rate is 5.0% during the forecast period.
The Increase in demand due to the advantageous properties, Rising need for liquid nitrogen from the healthcare sector and Expanding food and beverage industry are the growth drivers of the Liquid Nitrogen Market.
The function, production technology, storage, distribution and transportation, and end-use industry are the factors on which the Liquid Nitrogen Market research is based.
The major companies 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, (U.S.), Yingde Gases Group (China), Messer Group (Germany), AMCS Corporation (U.S.), Statebourne Cryogenics (U.S.), AIGA (Singapore).
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