APAC Liquid Nitrogen Market growth is driven by strong application trends in automobile manufacturing sector | Key players are Praxair, Inc, Air Liquide, The Linde Group, nexAir, LLC, Messer Group, Air Products, Gulf Cryo

Global Market Insights, Inc. adds new Liquid Nitrogen Market report which provides in-depth information about Industry overview, top vendors, Key market highlights, product types, drivers, challenges, trends, industry landscape, size and forecast.

Asia Pacific created the major chunk of product demand in 2017 and is anticipated to grow with a highest CAGR over the forecast period. This can be attributed to the increasing automobile manufacturing in the region. More than half of the global passenger & commercial vehicles are manufactured in Asia Pacific. This exponential size of the automobile industry shall fuel the liquid nitrogen demand in near future. North America liquid nitrogen demand shall grow with a healthy CAGR, owing to its matured food & beverage industry and increasing demand for the ready to eat products in the region.

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Automobile end-use segment is projected to grow with a highest CAGR over the forecast period. This can be attribute to the rapidly growing automobile industry in Asia Pacific. Automobile manufacturers are trying to manufacture the engines which will run on the liquid nitrogen. Liquid nitrogen is an environment friendly and cost-effective alternative for petroleum-based fuel. Rubber & plastic manufacturing will create major product demand during the forecast period, owing to the growing rubber & plastic production across the globe from past few years.

Global liquid nitrogen market will be driven by rapidly growing food & beverages industry across the globe. It is used in the food & beverages to freeze the food products rapidly and to preserve & transport it. Owing to the increasing population and shift in consumer preferences, food & beverages industry is likely to grow with a significant CAGR. Chemical & pharmaceutical was the major end-user of liquid nitrogen in 2017. This can be attributed to the increasing usage of liquid nitrogen in pharmaceutical industry. It is used in the pharmaceutical industry from raw material preparation to the final product packaging. Liquid nitrogen demand in chemical & pharmaceutical is forecast to remain the highest during the forecast period.

Liquid Nitrogen Market by End-user
• Automotive
• Chemical & Pharmaceutical
• Rubber & Plastic
• Food & Beverages
• Healthcare
• Metal Fabrication
• Oil & Gas
• Others

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However, stringent regulations regarding product usage in the food & beverages are likely to hamper the product demand over the forecast timespan. Many governments and government-controlled agencies are banning the usage of liquid nitrogen in food & beverages industry. For instance, government of Haryana (India) banned the usage of liquid nitrogen in food & drinks, due to its adverse effect on the human health. Many other states in India are likely to follow the Haryana's footstep in near future.

On-Site production was the major transportation segment in 2017 and shall grow with a highest CAGR during the forecast period. Remoteness is removed by the on-site production and it gives flexibility in production. In addition, it is cost effective and more environment friendly method, owing to which its is likely to grow with a highest CAGR in next few years. It is the most convenient mode of transportation to the end-users who need liquid nitrogen in bulk and on daily basis.

Many multinational giants and local companies are operating in the liquid nitrogen market. Some prominent players working in the industry are Air Liquide S.A., Taiyo Nippon Sanso Corporation, Messer Group, Southern Industrial Gas Berhad, Emirates Industrial Gas Co. LLC, Linde Ag, Gulf Cryo, Nexair LLC, Praxair Inc. and Air products and Chemical Inc.

Browse key industry insights spread across 146 pages with 243 market data tables & 18 figures & charts from the report, “Liquid Nitrogen Market” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/liquid-nitrogen-market

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