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Liquid Nitrogen Market 2023 - Global Industry Analysis, Size, Share, Growth, Trends And Forecast To 2032
Liquid Nitrogen Market
The Business Research Company's Liquid Nitrogen Global Market Report 2023 identifies increasing demand from the healthcare domain as the major driver for the Liquid Nitrogen market's growth in the forecast period. The healthcare domain helps in maintaining or restoring physical, mental, or emotional well-being by licensed healthcare professionals. Liquid nitrogen is mainly used in the healthcare domain for the removal of warts, precancerous cells, unwanted skin, and cryogenics. Liquid nitrogen is commonly used as a cryogenic liquid for the removal of diseased skin and is capable of fast freezing while contacting living cells.
The global liquid nitrogen market size grew from $16.3 billion in 2022 to $17.55 billion in 2023 at a compound annual growth rate (CAGR) of 7.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The liquid nitrogen market size is expected to grow to $22.06 billion in 2027 at a CAGR of 5.9%.
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Major competitors in the Liquid Nitrogen market are Air Products and Chemicals Inc., Linde PLC., Praxair Technology Inc., NEXAIR, Statebourne Cryogenics.
A key trend in the Liquid Nitrogen market includes product innovations. Major companies operating in the liquid nitrogen market are focused on developing new and innovative products to strengthen their market position. For instance, in July 2021, Scientific Laboratory Supplies, a UK-based supplier of chemicals, equipment, and consumables for laboratory use, launched a new line of SLS Lab Pro gas and liquid nitrogen generators that use the pressure swing adsorption technology to separate oxygen, nitrogen, and water to produce high-quality air and nitrogen gases. The liquid nitrogen generator uses this technique to create nitrogen gas that is liquefied using a powerful cooling system.
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The Liquid Nitrogen market is segmented -
• By Manufacturing Process: Cryogenic Distillation, Pressure Swing Adsorption, Other Manufacturing Processes
• By Function: Coolant, Refrigerant
• By Industry Vertical: Chemicals and Pharmaceuticals, Food and Beverage, Healthcare, Metal Manufacturing and Construction, Rubber and Plastic, Other Industry Verticals
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Liquid Nitrogen market.
The Business Research Company's "Global Liquid Nitrogen Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Liquid Nitrogen Market Include:
1. Executive Summary
2. Liquid Nitrogen Market Characteristics
3. Liquid Nitrogen Market Trends And Strategies
4. Liquid Nitrogen Market - Macro Economic Scenario
5. Liquid Nitrogen Market Size And Growth
……………………………..
26. Africa Liquid Nitrogen Market
27. Liquid Nitrogen Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Liquid Nitrogen Market
29. Liquid Nitrogen Market Future Outlook and Potential Analysis
30. Appendix
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