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Global Liquid Nitrogen Market Projected to Reach USD 21 Million by 2026

26-Mar-2020 | Facts and Factors

Findings from Facts and Factors report “Liquid Nitrogen Market By Technology (Cryogenic distillation, Pressure swing adsorption, Others) By Function (Coolant and Refrigerant) By Storage (Cylinders & packaged gas, Merchant liquid/ Bulk, Tonnage, Others) and By Application (Chemicals & pharmaceuticals, Healthcare, Food & beverages, Metal manufacturing & construction, Rubber & plastic, Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global Liquid Nitrogen market in 2019 was around USD 15 Million. The market is expected to grow at a CAGR of around 5% and is anticipated to reach around USD 21 Million by 2026.

Liquid Nitrogen with the chemical formula LN2 is nitrogen in a liquid state which is produced at industries through the process of fractional distillation of air at its liquid state. Liquid Nitrogen is colorless and has a low viscosity. It is mostly used as a coolant and used as a cryogen whenever there is a demand for low temperatures. These cooling properties are very helpful in the machine assembly line whenever there is a temporary breakdown of mechanical gears. It is broadly used in cryotherapies, cryopreservation and to remove moles, skin tags, and some issues related to skin cancer.

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Browse the full “Liquid Nitrogen Market By Technology (Cryogenic distillation, Pressure swing adsorption, Others) By Function (Coolant and Refrigerant) By Storage (Cylinders & packaged gas, Merchant liquid/ Bulk, Tonnage, Others) and By Application (Chemicals & pharmaceuticals, Healthcare, Food & beverages, Metal manufacturing & construction, Rubber & plastic, Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" https://www.fnfresearch.com/liquid-nitrogen-market-by-technology-cryogenic-distillation-pressure-974

The growing demand for liquid nitrogen in various industries like chemical & pharmaceuticals industry and its growing demand in the field of health care is driving the market. The rapid industrialization and urbanization among the growing economies are triggering the demand for the liquid nitrogen market. However, the regulatory restrictions imposed by some governments are restraining the growth of the liquid nitrogen market. However, the growing chemical and metal manufacturing provide enormous opportunities for the liquid nitrogen market to upsurge in the coming years.

As per the technical analysis, the technology of cryogenic distillation is expected to dominate the market as it is considered to be a cost-effective technology and it is very helpful in the production of industrial gases like nitrogen, oxygen, and argon. Growing application in the section of fabrication of semiconductor devices is predicted to increase the growth for the liquid nitrogen market. As per the function analysis, the liquid nitrogen market is bifurcated into coolant and refrigerant. The functionality of coolant is expected to dominate the market owing to the enormously low-temperature properties of liquid nitrogen. It is also used in the areas of spray cooling, immersion cooling, or injection cooling. As per the storage analysis, the liquid nitrogen market is split into Cylinders & packaged gas, Merchant liquid/ Bulk, Tonnage, and Others. Because of the temperature difference between liquid nitrogen and the environment, there is a major growing concern for the storage and transportation of liquid nitrogen. As there is a sharp rise in the demand for packaging of liquid nitrogen, the cylinders and packaged gas are expected to dominate the market. As per the application analysis, the Chemicals and   Pharmaceuticals segment is expected to dominate the market as there is an increase in the use of liquid nitrogen as it helps to retain the cold reaction temperatures of the medicines so that they do not react with the outside temperature and cause any harm when consumed by any living thing.

As per the regional analysis, the region of Asia Pacific provides potential growth opportunities for the liquid nitrogen market owing to the rising developmental activities going across many countries of this region. Countries like China and India which are among the top fastest-growing economies in the world are predicted to be the emerging markets for this industry as there is a tremendous rise in the population and the living standards of the people have led to surplus demand for construction, food & beverages, electronics, health care, and pharmaceuticals sectors. The rapid urbanization in these emerging countries has led to the migration of population from rural to urban cities for a better life and work opportunities.

The major key players in the Liquid Nitrogen Market are as follows:

  • Taiyo Nippon Sanso Corporation
  • Messer Group
  • Emirates Industrial Gases Co. Ltd
  • Gulf Cryo
  • Southern Industrial Gas Berhad
  • Nexair LLC
  • Others

This report segments the Liquid Nitrogen market as follows:

Global Liquid Nitrogen Market: By Technology Segmentation Analysis

  • Cryogenic distillation
  • Pressure swing adsorption
  • Others

Global Liquid Nitrogen Market: By Function Segmentation Analysis

  • Coolant
  • Refrigerant

Global Liquid Nitrogen Market: By Storage Segmentation Analysis

  • Cylinders & packaged gas
  • Merchant liquid/ Bulk
  • Tonnage
  • Others

Global Liquid Nitrogen Market: By Application Segmentation Analysis

  • Chemicals & pharmaceuticals
  • Healthcare
  • Food & beverages
  • Metal manufacturing & construction
  • Rubber & plastic
  • Others

Global Liquid Nitrogen Market: Regional Segmentation Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • Germany
    • The UK
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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