Press release
Liquid Nitrogen Market to cross USD 17.2 billion by 2025 | Key Players are Gulf Cryo, Air Products, Air Liquide, Praxair, Inc, The Linde Group
Liquid Nitrogen Market
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According to a new research report, Global Liquid Nitrogen Market is forecast to exceed USD 17.2 billion by 2025. Global liquid nitrogen industry will be driven by a rapidly growing food & beverage industry across the globe. It is used in the food & beverages to freeze the food products rapidly and to preserve & transport it.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Linde Ag
2. Transportation landscape
3. Praxair Inc.
4. Transportation landscape
5. Air Liquide S.A.
6. Transportation landscape
7. Nexair LLC
8. Transportation landscape
9. Taiyo Nippon Sanso Corporation
10. Transportation landscape
11. Messer Group
12. Transportation landscape
13. Air Products and Chemicals Inc.
14. Transportation landscape
The automobile end-use segment is projected to grow with the highest CAGR over the forecast period. This can be attributed to the rapidly growing automobile industry in the 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 liquid nitrogen market demand during the forecast period, owing to the growing rubber & plastic production across the globe from the past few years.
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Apart from the pharmaceutical sector, companies operating across business verticals such as oil and gas, food & beverages, rubber & plastic, and automotive are readily installing on-site nitrogen generators at their manufacturing facilities to bolster the pace of production and reduce operating costs. This has led to a significant proliferation of the on-site production segment in the past few years and is unsurprisingly forecast to grow at a substantial rate in the times to come. In fact, as per a research report prepared by Global Market Insights, Inc., on-site production apportioned the maximum revenue share across the transportation segment of the liquid nitrogen market in 2017.
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 the 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.
The regional segmentation covers:
o Europe Region (Germany, UK, France, Russia, Italy, Rest of Europe)
o North America Region (U.S., Canada, Mexico)
o South America Region (Argentina, Brazil, Columbia, Rest of South America)
o Asia-Pacific Region (China, South Korea, Japan, Southeast Asia, India, Rest of Asia-Pacific)
o The Middle East & Africa Region (UAE, Saudi Arabia, Nigeria, South Africa, Egypt, Rest of MEA)
Additionally, in the emerging economies of the Asia Pacific and North America, the liquid nitrogen market has gained massive momentum as the application of the product across these regions is broader as compared to various other regions.
This exponential size of the automobile industry shall fuel the liquid nitrogen demand in the near future. North America's liquid nitrogen demand shall grow with a healthy CAGR, owing to its mature food & beverage industry and increasing demand for the ready to eat products in the region.
In view of the aforementioned factors, it is quite overt that technologically superior products would undoubtedly contribute to the growth of liquid nitrogen market share in the years ahead. Concurrently, the foremost companies such as Linde Ag, Praxair Inc., Gulf Cryo, Nexair LLC, Messer Group, Air Liquide S.A., Emirates Industrial Gas Co. LLC, Southern Industrial Gas Berhad, and Taiyo Nippon Sanso Corporation are concentrating on product enhancement, essentially boosting the reach of liquid nitrogen market across major business verticals.
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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
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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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