Liquid Nitrogen Market
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.
PUNE, MAHARASHTRA, INDIA, December 12, 2022 /EINPresswire.com/ — Liquid Nitrogen Market 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.
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.
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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.
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)
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
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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.
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.
Liquid Nitrogen Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
Increase in demand due to adverse properties
Liquid nitrogen is highly used in the chemical and pharmaceutical industry because of their adverse properties such as colorless, chemically unreactive, non-toxic, odorless and inflammable. These properties is expected to driving the growth of liquid nitrogen market.
Increasing demand from healthcare domain
Liquid nitrogen used in removal of warts, unwanted skin, precancerous cells and cryogenics. Liquid nitrogen is commonly considered the cryogenic liquid capable of fast freezing within the contact of living cells. Which is expected to driving the growth of liquid nitrogen market.
Growing food and beverage industry
Rapid modernization, increases the popularity of packaged food significantly due to this increase the concern about food preservation. Liquid nitrogen being chemically unreactive which plays a vital role in freezing and cooling the food products and thereby increasing their shelf life.
Increasing automotive production
Increasing air pollution all over the world and vehicle emissions have a major concern. It is very essential to engineer an alternative to the current traditional gasoline vehicles. Liquid vehicles fueled by nitrogen can act as a brilliant alternative. Thus, liquid nitrogen is highly used in automobiles as a coolant.
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Rising the usage of product
The market for liquid nitrogen is growing in the electronics industry due to increased product usage in the manufacturing of flat panel displays, light emitting diodes, and semiconductors, which will further boost various opportunities that will lead to the growth of the liquid nitrogen market over the forecast period.
Various application of liquid nitrogen
Rise in demand for frozen ice-cream from developing end use industries and developed economies is trending in the market. However, rise in applications in cryotherapies, cryopreservation and cryosurgeries for moles, curing skin, removing the skin tags and skin cancers is offering opportunities to the market.
Restraints/ Challenges
The freezing property of liquid nitrogen also has harmful impacts. The liquid nitrogen vapour could rapidly freeze skin tissues and cause cold burns. If a person swallows a bit of liquid nitrogen then it can cause irritation in the stomach. The elongated use of liquid nitrogen might cause various health issues, including loss of consciousness, vomiting, nausea, etc. So, these are some factors which are hampering the liquid nitrogen market growth.
This liquid nitrogen market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the liquid nitrogen market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
TABLE OF CONTENT
1. Liquid Nitrogen Market Overview.
2. Liquid Nitrogen Market Competition by Manufacturers.
3. Liquid Nitrogen Production Market Share by Regions.
4. Liquid Nitrogen Industry Supply chain Analysis.
5. Liquid Nitrogen Company Profiles, Production, Revenue, Price Trend by Type.
6. Liquid Nitrogen Market Analysis by Applications.
7. Marketing Channel, Distributors, and Customers.
8. Liquid Nitrogen Import, Export, Consumption, and Consumption Value by Major Countries.
9. Liquid Nitrogen Market Forecast & Market Dynamics.
10. Tables and figures.
11. Research Findings and Conclusion.
TOC of This Report @https://www.databridgemarketresearch.com/toc/?dbmr=global-liquid-nitrogen-market
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