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Liquid Nitrogen Market Size, Share & Industry Analysis, By Function (Coolant , Refrigerant), By Storage, Distribution, and Transportation (Cylinder & Packaged Distribution, Merchant Liquid Distribution, Tonnage Distribution, Others), By End-user (Food & Beverages, Chemicals & Pharmaceuticals, Metal Manufacturing & Construction, Healthcare, Electronics, Rubber & Plastic, Others) And Regional Forecast 2023-2030

Region : Global | Report ID: FBI104967 | Status : Ongoing



Liquid nitrogen is the liquefied form of the element nitrogen that's produced commercially by the fractional distillation of liquid air. Liquid nitrogen is inert, colorless, odorless, non-flammable, and non-toxic gas that is used for several applications such as cryotherapy in the healthcare industry, freezing process food in the food & beverage industry, and creating high-temperature superconductors in the power sector.

Growing concerns over the safety of food have increased the adoption of cryogenic freezing in the food and beverage industry. This is because cryogenic freezing is eco-friendly, less time-consuming, and does not alter the quality, texture, and color of the food product. This is increasing the use of cryogenic gases such as liquid nitrogen in the food processing industry for preserving food items such as meat, fruits, vegetables, baked food, dairy products, and prepared foods. These factors are fueling the growth of the global liquid nitrogen market.

Based on function, the global market can be segmented into coolant and refrigerant. Coolant is projected to form the fastest-growing function in the liquid nitrogen market as it is used in many end-use industries such as metal manufacturing & construction, chemicals & pharmaceuticals, and healthcare.

Based on storage, distribution, and transportation, the global market can be segmented into cylinder & packaged distribution, merchant liquid distribution, and tonnage distribution. Liquid nitrogen is preferred to be stored in under-ventilated areas. Storing and handling of liquid nitrogen is a major challenge, and to avoid risks and hazard factors such as burns, container failure, spillage, personal injury, and damage to containers, proper care has to be taken. Cryogenic storage tanks are majorly used for the storage of liquid nitrogen. Cylinder and packaged gas are projected to grow at the highest CAGR during the forecast period. The temperature difference between liquid nitrogen and the environment is a major concern for safe storage and transportation. Rising demand for the packaging of liquid nitrogen is anticipated to augment the cylinder and packaged segment.

Based on end-user, the global market can be segmented into food & beverages, chemicals & pharmaceuticals, metal manufacturing & construction, healthcare, electronics, rubber & plastic, and others. Chemical & pharmaceutical was the largest end-user of the market and it is expected to grow with a prominent CAGR during the forecast period. It is used in the chemical & pharmaceutical industry to cool reactors filled with catalyst. Increasing the use of liquid nitrogen in the pharmaceutical industry to retain the cold reaction temperature for medicines is expected to boost the market. Rubber & plastic was another major end-user segment of the industry as liquid nitrogen in rubber manufacturing is used as a refrigerant in deflashing systems. Due to its ultracool temperature, it eliminates the need for pre-cooling and can quickly reduce the flash temperature, reducing cycle times and improving transportability. Ultracold, inert nitrogen can also help reduce heat produced in your grinding process, resulting in high-quality, very fine, uniformly sized particles.

Rapidly growing healthcare industry across the globe fueling the liquid nitrogen demand over the forecast period. It is widely used in cryosurgeries, cryotherapies, and cryopreservation to destroy decayed tissues and to remove warts, moles, skin tags, verrucas, and some skin cancers. Also, increasing electronics device applications in the healthcare industry has led to increasing liquid nitrogen demand, as liquid nitrogen in the healthcare industry is used to maintain low temperature. On the other hand, high cost for production and high value for transportation are some of the major factors restraining the growth of the global market.

Key Market Driver -

Rapidly growing healthcare industry across the globe

Key Market Restraint -

High cost for production

Key Players Covered:

Some of the major companies in the global liquid nitrogen market are Praxair Inc., Air Liquide S.A., The Linde Group, Messer Group, Nexair LLC, Taiyo Nippon Sanso Corporation, Air Products and Chemicals, Inc., Gulf Cryo, Emirates Industrial Gases Co. LLC, AMCS Corporation, Statebourne Cryogenics Ltd, Asia Industrial Gases Pte. Ltd, and Southern Industrial Gas Berhad.

Regional Analysis:

The global liquid nitrogen market is studied across different regions like North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is anticipated to dominate the global liquid nitrogen market during the forecast period. The high demand for liquid nitrogen from the pharmaceutical industry for preserving biological samples provides a positive influence on the growth of the market. Moreover, rising reconstruction activities is creating demand in metal manufacturing and construction, leading to an increased need for liquid nitrogen for welding and cutting processes.

Asia Pacific region is expected to grow at the highest CAGR during the forecast period. In the Asia Pacific region, India, China, and Southeast Asian countries have been experiencing strong economic growth. Increasing population and living standards have spurred the market demand in the food & beverages, construction, electronics, and pharmaceutical sectors. China is the largest producer and supplier of liquid nitrogen in this region. Some of the leading companies in the production of liquid nitrogen i.e. Linde plc, Southern Industrial Gas Sdn Bhd, and MVS Engineering Pvt. Ltd are located in the region.

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 By Function

  • Coolant

  • Refrigerant

By Storage, Distribution, and Transportation

  • Cylinder & Packaged Distribution

  • Merchant Liquid Distribution

  • Tonnage Distribution

  • Others

By End-user

  • Food & Beverages

  • Chemicals & Pharmaceuticals

  • Metal Manufacturing & Construction

  • Healthcare

  • Electronics

  • Rubber & Plastic

  • Others


By Geography

  • North America (U.S. and Canada)

  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)

  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico and Rest of Latin America)

  • Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)

Key Industry Developments

  • In April 2017, Air Products, a world-leading industrial gases company announced that it has started up another new oxygen and nitrogen plant in the province. The plant further enhances the company's production capacity and supply position in this important industrial base and supports a leading global manufacturer to produce materials for high-tech displays under a long term contract.

  • In November 2015, Air Products formally opened its US$ 33 million liquid nitrogen facility on South JBS Parkway.

  • Ongoing
  • 2022
  • 2019-2021


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