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
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.
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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
- 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 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.
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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.
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