The increasing consumer demand for electronics products is the major factor contributing to propelling the market growth. In addition, growing adaption of liquid nitrogen in the food and beverage industry is another factor accelerating market growth
JERSEY CITY, N.J., Oct. 26, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Liquid Nitrogen Market" By Storage, Distribution, And Transportation (Tonnage Distribution, Merchant Liquid Distribution, and Cylinder & Packaged Distribution), By Manufacturing Process (Cryogenic Distillation and Pressure Swing Adsorption), By End-User (Metal Manufacturing & Construction, Healthcare, Food & Beverage), and By Geography. According to Verified Market Research, the Global Liquid Nitrogen Market size was valued at USD 15.22 Billion in 2020 and is projected to reach USD 21.83 Billion by 2028, growing at a CAGR of 4.74% from 2021 to 2028.
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Browse in-depth TOC on "Liquid Nitrogen Market"
202 - Pages
126 - Tables
37 - Figures
Global Liquid Nitrogen Market Overview
Liquid Nitrogen is the fractional distillation of the liquid air that is comprised of sharing the two covalent bonds of nitrogen. It is an inert cryogenic fluid with a temperature of - 196 °C. It is inert, colorless, odorless, non-corrosive, non-flammable nitrogen. Liquid Nitrogen is commercially produced by compressing and cooling nitrogen gas to a point below its evaporation point at around- 196 °C. Most common application of the liquid nitrogen is cryogenic refrigerant. The liquid nitrogen contains large amount of air (80%) thus, it can be manufactured easily with high thermal capacity representing long retention time. This liquid is used to serve the purpose of coolant in superconductors, vacuum pumps, and other materials and equipment.
In Medical sector, the liquid nitrogen is used for shielding for the liquid helium used for MRIs and cold temperature medical and beauty treatments. It is also used in removal of unwanted skin, precancerous cells, warts, and cryogenics. Liquid nitrogen in general considered as the cryogenic liquid that is capable of rapid freezing within the contact of living cells. Hence, it is used in cryopreservation of biological samples, such as sperm, eggs, and animal genetic samples.
Key Developments in Liquid Nitrogen Market
- In March 2021, Linde and Bluefors signed an agreement to create cooling solutions for large-scale quantum computers.
- In June 2017, Air Products signed an agreement with the Linde to build New York industrial gas plant. Through this new venture namely East Coast Nitrogen, the company produce 1,100 tons per day of liquid nitrogen, liquid oxygen and liquid argon at Air Products existing site.
The major players in the market are Linde Group, Gulf Cryo, Nexair LLC., Praxair Inc., Air Liquide S.A., Messer Group, Taiyo Nippon Sanso Corporation, Air Products and Chemicals, Inc., Emirates Industrial Gases Co. LLC. And Southern Industrial Gas Berhad.
Verified Market Research has segmented the Global Liquid Nitrogen Market On the basis of Storage, Distribution, And Transportation, Manufacturing Process, End-User, and Geography.
- Liquid Nitrogen Market, By Storage, Distribution, And Transportation
- Tonnage Distribution
- Merchant Liquid Distribution
- Cylinder & Packaged Distribution
- Liquid Nitrogen Market, By Manufacturing Process
- Cryogenic Distillation
- Pressure Swing Adsorption
- Liquid Nitrogen Market, By End-User
- Metal Manufacturing & Construction
- Healthcare
- Food & Beverage
- Chemicals & Pharmaceuticals
- Others
- Liquid Nitrogen Market by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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