Global Liquid Nitrogen Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
The Liquid Nitrogen Market report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint.
Global Liquid Nitrogen Market Report Overview:
“The global On-Site Hydrogen Generator market size is expected to be worth around US$ 24 Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of 5.2% during the forecast period 2021 to 2031.”
The global liquid nitrogen market report has been segmented on the basis of the manufacturing process, function, storage, end-use industry, and region. This report is based on the synthesis, analysis, and interpretation of information gathered regarding the target market from various sources.
Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market.
In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in the future.
Liquid nitrogen is a diatomic liquid, that has the diatomic character of the covalent N bonding in N2 gas which is retained after liquefaction. Liquid nitrogen is a compact and colorless clear liquid and can be easily transported due to the non-requirement of pressurization. It is a cryogenic fluid that can cause rapid freezing in contact with living tissue. It is widely used as a coolant, food freezing and preservation, and others.
The increasing demand for liquid nitrogen from the chemical and pharmaceutical industry is a major factor expected to drive the growth of the global liquid nitrogen market over the forecast period. In addition, the growing adoption of the product from the food and beverage industry is another factor expected to propel the growth of the target market in the long run.
Moreover, rising demand from the electronics sector for the manufacturing of flat panel displays, light-emitting diodes, and semiconductors, is also anticipated to bolster the growth of the target market over the forecast period.
However, high production and transportation cost is a major factor that may hamper the demand for liquid nitrogen and restrain the growth of the market during the forecast period. In addition, liquid nitrogen handling is a major challenge faced by the global liquid nitrogen market over the forecast period.
The liquid nitrogen market in North America has accounted for the highest share in terms of revenue to the global market and is expected to dominate the market over the forecast period. The Asia Pacific market is expected to witness the highest CAGR over the forecast period, due to increasing demand for liquid nitrogen in various end-use industries such as electronics and metal manufacturing & construction in the region.
The Europe market is estimated to register a significant growth rate during the forecast period. Middle East and Africa liquid nitrogen market are at a nascent stage and is estimated to witness moderate growth in coming years.
Global Liquid Nitrogen Market Segmentation:
Segmentation On the Basis of Manufacturing Process:
- Cryogenic Distillation
- Pressure SWING Adsorption
Segmentation On the Basis of Function:
Segmentation On the Basis of Storage:
- Cylinder & Packaged
- Merchant Liquid
Segmentation On the Basis of End-use Industry:
- Chemicals & Pharmaceuticals
- Food & Beverage
- Metal Manufacturing & Construction
- Rubber & Plastic
- Others (Electronics and Energy)
Segmentation On the Basis of Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- The Linde Group
- Refrigeration & Oxygen Company Limited
- Air Liquide
- Gulf Cryo
- Air Products and Chemicals, Inc.
- Messer Group GmbH
- SOUTHERN INDUSTRIAL GAS SDN. BHD.
- TAIYO NIPPON SANSO CORPORATION
- Asia Technical Gas Co Pte Ltd
- BUZWAIR INDUSTRIAL GASES FACTORIES
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