Press release
Liquid Nitrogen Market – Industry Challenges, Key Vendors, Drivers, Trends and Forecast to 2022
The key players of global liquid nitrogen market are Linde Ag (Germany), Praxair Inc. (U.S.), Air Liquide S.A. (France), Nexair LLC (U.S.), Taiyo Nippon Sanso Corporation (Japan), Messer Group (Germany), Air Products and Chemicals Inc. (U.S.), Gulf Cryo (United Arab Emirates), Emirates Industrial Gases Co. LLC. (United Arab Emirates), and Southern Industrial Gas Berhad (Malaysia).
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Global Liquid Nitrogen Market Information Report by Function (Coolant, Refrigerant), by Production Technology (Cryogenic distillation, Pressure swing adsorption) and by End-User (Chemicals, Pharmaceutical, Food & Beverages, and others) and by Region- Global Forecast to 2022
Market Scenario:
Liquid nitrogen is formed at very low temperature in a liquefied form. Liquid nitrogen allows to freeze in first instant and can be stored and transported in suitable environment. Liquid nitrogen is produced by simultaneously removing the heat and compressing the air and in cryogenic fluid, helps in freezing foods. Liquid nitrogen is a nontoxic and it rapidly cools things. It is best for preserving food, biological and medical products. Liquid nitrogen is expected to cross USD 17 Billion by 2022, at a CAGR of approximately 6%.
On the basis of function, coolant is expected to grow with highest market share in the forecast period because at low temperature liquid nitrogen serves as an ideal coolant for many industries. On the basis production technology, cryogenic distillation is expected to witness the largest market share because it is most widely used for high purity oxygen, nitrogen and argon for industries. On the basis of end-user, chemicals & pharmaceutical segment is expected to dominate the market due to the growth in the pharmaceutical industry globally. North America is expected to witness the highest market share in the forecast period.
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Regional Analysis of Liquid Nitrogen Market:
The Liquid Nitrogen market can be geographically segmented into North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). North America region is expected to dominate Liquid Nitrogen Market during the forecast period. Asia pacific is expected to grow fastest during the forecast period because of the growing development activities and expansion of the economy.
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