Market Snapshot:
Nitrogen present in a liquid state at an extremely low temperature is known as liquid nitrogen. It is colorless in nature and is a cryogenic liquid, which when in contact with living cells can cause rapid freezing. Owing to this property, liquid nitrogen is widely used as a coolant. Liquid nitrogen is used in several industries owing to its inertness and extremely low-temperature levels. Further, rising applications of liquid nitrogen in cryotherapies, cryosurgeries, and cryopreservation for curing skin, removing skin tags, skin cancers, and moles and other sectors is driving the Global Liquid Nitrogen market.
Highlights from Liquid Nitrogen Market Study
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.25% |
The key Manufacturers profiled in the report are Nexair LLC. (United States), Taiyo Nippon Sanso Corporation (Japan), Air Products and Chemicals Inc. (United States), Gulf Cryo (United Arab Emirates), Emirates Industrial Gases Co. LLC. (United Arab Emirates), Southern Industrial Gas BHD (Malaysia), Linde Ag (Germany), Praxair Inc., (United States) and Air Liquide S.A. (France).
Geographic Breakdown and Segment Analysis
The Global Liquid Nitrogen market presents a comprehensive analysis of the Liquid Nitrogen market by product type (Cryogenic Distillation and Pressure Swing adsOrption), by end-user/application (Food Industry, Medical Industry, Fertilizer Industry, Scientific Research and Other), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Liquid Nitrogen industry. Investors and Manufacturers can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Liquid Nitrogen market
Analyst at AMA have segmented the market study of Global Liquid Nitrogen market by Type, Application and Region.
Influencing Trend:
Demand for Bulk Liquid Nitrogen in Research Laboratories and Growing Population, Technological Advancements, Streamlined Manufacturing Processes and Improved Cold Chain Facilities
Market Growth Drivers:
Rapidly Growing Healthcare Industry, Increasing use of Electronic Device in the Medical Sector and The Demand for Liquid Nitrogen in Transport and Food Industry
Challenges:
Risk of Accidents while Coming in Contact with Liquid Nitrogen
Restraints:
Increasing Fuel Prices and High Cost of Production of Liquid Nitrogen
Opportunities:
Use in Onshore and Offshore Operations and Huge Demand of Coolants and Increasing Demand in Chemical Industry
Market Developments Activities:
In May 2019 VRV Asia Pacific manufactured the storage tank with a Liquid Nitrogen (LIN) shield, in a collaborative effort with Satish Dhawan Space Centre (SDSC) SHAR, under the Make in India initiative.
February 2022: INOX Air Products opened its sixth air separation plant in Hosur, India, to satisfy expanding healthcare and industrial demand. The INR 3000 million (USD 36.48 billion) plant at SIPCOT Phase II was completed in just 20 months. It will produce high-purity liquid nitrogen with a capacity of up to 150 MT per day, twice the current amount.
The global market is highly competitive and consists of a limited number of providers competing. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth.
Key Target Audience
Liquid Nitrogen Manufacturers, Research Laboratories, Automotive, Food and Beverage Industry, Industry Associations, Downstream Vendors, Potential Investors and Government and Regulatory Bodies