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Liquid Nitrogen Market To Witness A Phenomenal Growth | Key players are Praxair, Inc, Air Liquide, The Linde Group, nexAir, LLC, Messer Group, Air Products, Gulf Cryo

Liquid Nitrogen Market

Liquid Nitrogen Market

The liquid nitrogen market has been continually expanding over the last few years, ever since nitrogen was first liquified in 1883 and its usage in industrial processes surfaced. By 2025, the value of the liquid nitrogen market is estimated to be $17 billion, which does not come as a huge surprise, given the product’s deployment in the food, healthcare, manufacturing, oil and gas and various other sectors. In regions such as Europe and North America, the liquid nitrogen industry has reached maturation as the application of LN2 in these regions is much more widespread than in regions like Asia Pacific or South America where the liquid nitrogen market is gaining ground.

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The food industry is one of the major beneficiaries of the widespread usage of liquid nitrogen and the growth of food freezing over the past 30 years has in turn added to the growth of the overall liquid nitrogen market. The food industry utilizes two kinds of freezing namely cryogenic freezing where freezing is achieved with the use of liquid nitrogen and mechanical freezing, where foods are frozen using traditional freezing devices like spiral freezers, bed freezers etc. Cryogenic freezing has been garnering greater traction due to its lower capital costs and cheap production prices. Food companies have been able to lower their capital cost almost to zero while gaining large refrigeration capacity by renting cryogenic storage tanks from gas companies and buying liquid nitrogen as required.

In the pharma industry, liquid nitrogen application has gained major headway especially with the use of the product in cryoablation, a process that destroys cancer cells through freezing. Cryoablation has gained momentum over other procedures like radiofrequency ablation in the electrophysiology market mainly because of the simplicity of the procedure as well as due to successful clinical trial results which have sowed that patients are faced with fewer post-procedural complications in cryoablation.

For the liquid nitrogen market, the oil & gas industry is one of the most prominent end-use spaces. With a commendable boost in shale oil and gas sectors in recent years and spike in hydraulic fracturing, enhanced oil recovery, which greatly involves the use of nitrogen, has witnessed revived interest adding traction to the liquid nitrogen market.

Asia Pacific liquid nitrogen market shall grow with a highest CAGR during the forecast timespan, owing to the growth of end-use industries in the region. China is having the largest market share in global automobile manufacturing and is growing with prominent CAGR. Pharmaceutical is the largest product end-user and shall create the major liquid nitrogen demand in near future.

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North America was another major region in 2017 and will grow with a significant growth rate. This can be attributed to the rapidly increasing oil & gas industry in the region. Liquid nitrogen plays an important role in discovery and manufacturing of shale gas. Since 2014, the U.S. have started the production of shale gas from its northern regions at rapid pace. This increased production of oil & gas in North America is likely to fuel the liquid nitrogen market growth in the region.

Global liquid nitrogen market comprises many large multinational players as well as mid-scale and small-scale vendors. Some prominent players operating in the industry are Taiyo Nippon Sanso Corporation, Southern Industrial Gas Berhad, Emirates Industrial Gas Co. LLC, Air Liquide S.A., Nexair LLC, Messer Group, Linde Ag, Gulf Cryo, Praxair Inc. and Air products and Chemical Inc.

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

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

About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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