Press release
Innovation Takes Center Stage In The Liquid Nitrogen Market As Companies Introduce Cutting-Edge Products Trend: A Crucial Influence on the Liquid Nitrogen Market's Transformation in 2025
Liquid Nitrogen Market
The growing necessity in the healthcare sector is projected to drive the expansion of the liquid nitrogen market. The healthcare sector aids in preserving and enhancing physical, mental, and emotional health through certified healthcare professionals. Liquid nitrogen is primarily employed in this sector to remove warts, pre-malignant cells, unnecessary skin, and for cryogenics. It is often used as a cryogenic liquid for diseased skin removal and has the ability to freeze quickly when in contact with live cells. For example, in September 2024, as per a report circulated by The Centers for Medicare and Medicaid Services, a US-based organization, National Health Expenditures (NHE) rose by 4.1% in 2022, hitting $4.5 trillion, equivalent to $13,493 per person and accounting for 17.3% of the Gross Domestic Product (GDP). Consequently, the growing necessity in the healthcare sector will persist in fuelling the expansion of the liquid nitrogen market in the projected timeline.
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What is the projected compound annual growth rate (CAGR) of the liquid nitrogen market from 2025 to 2034, and what factors influence it?
A significant expansion has been observed in the liquid nitrogen market in the past few years. The value is expected to increase from $18.31 billion in 2024 to $19.47 billion in 2025, marking a compound annual growth rate (CAGR) of 6.3%. The surge during the historic era is due to a range of factors including industrial refrigeration, cryopreservation, food freezing, medical applications, and metal processing.
Expectations are high for a substantial expansion in the liquid nitrogen market size in the upcoming years, with a growth projection of $25.91 billion by 2029 at a compound annual growth rate (CAGR) of 7.4%. This anticipated growth in the forecasted period is largely due to the rise of healthcare technologies, the pharmaceutical and biotech industries, cryogenic energy storage, space exploration, and environmentally friendly technologies. Prominent trends expected during this forecasted period encompass cryogenic storage solutions, cryotherapy and aesthetic procedures, the preservation and storage of biological material (biobanking and biopreservation), cryogenic cooling and rocket propulsion.
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How are the latest trends influencing the growth of the liquid nitrogen market?
Main players in the liquid nitrogen market are concentrating their efforts on creating liquid nitrogen (LN2) controlled-rate freezers. The objective is to accurately regulate temperature during the freezing process to cater to growing needs in healthcare, food processing, and biotechnology industries. The LN2 controlled-rate freezer is a unique device purposely designed to control the cooling and freezing process by using liquid nitrogen. It is incredibly important for businesses engaged in cryopreservation, especially those handling high-value biological materials that need meticulous control during freezing prior to storage. To illustrate, BioLife Solutions, Inc., a biotech firm based in the U.S., introduced the IntelliRate i67C Liquid Nitrogen (LN2) Controlled-Rate Freezer in June 2023. This liquid nitrogen controlled-rate freezer, the IntelliRate i67C, provides a chamber volume of 67 liters (2.35 cu. ft.), making it 40% larger than other comparable tabletop controlled-rate freezers (CRFs). Its design leads to fewer runs, promotes easier programming and setup, and optimizes LN2 observation and power needs.
What are the major segments of the liquid nitrogen market and their role in driving growth?
The liquid nitrogen market covered in this report is segmented -
1) By Manufacturing Process: Cryogenic Distillation, Pressure Swing Adsorption, Other Manufacturing Processes
2) By Function: Coolant, Refrigerant
3) By Industry Vertical: Chemicals and Pharmaceuticals, Food and Beverage, Healthcare, Metal Manufacturing and Construction, Rubber and Plastic, Other Industry Verticals
Subsegments:
1) By Cryogenic Distillation: Atmospheric Distillation, Fractional Distillation
2) By Pressure Swing Adsorption (PSA): PSA For Nitrogen Generation, PSA For Purification
3) By Other Manufacturing Processes: Membrane Separation, Adsorption Process, Chemical Process
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Which regions are key players in the growth of the liquid nitrogen market?
North America was the largest region in the liquid nitrogen market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the liquid nitrogen market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Who are the key firms paving the way for growth in the liquid nitrogen market?
Major companies operating in the liquid nitrogen market include Air Products and Chemicals Inc., Linde plc, NexAir LLC, Statebourne Cryogenics Ltd., Taiyo Nippon Sanso Corporation, Gulf Cryo, Emirates Industrial Gases Co. LLC, Southern Industrial San Bhd, Universal Industrial Gases Inc., Yingde Gases Group, Messer Group, AMCS Corporation., Air Liquide S.A., Asia Industrial Gases Pte. Ltd., MVS Engineering Pvt. Ltd., Cryogenic Industries Inc., Chart Industries Inc., Cryofab Inc., Cryoquip Inc., Cryostar SAS, Buzwair Industrial Gases Factories, INOX Air Products Pvt. Ltd., Yateem Oxygen, Cryomech Inc.
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What Is Covered In The Liquid Nitrogen Global Market Report?
•Market Size Forecast: Examine the liquid nitrogen market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the liquid nitrogen market for a structured understanding.
•Key Players Overview: Analyze major players in the liquid nitrogen market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the liquid nitrogen market.
•Segment Contributions: Evaluate how different segments drive overall growth in the liquid nitrogen market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the liquid nitrogen market.
•Industry Challenges: Identify potential risks and obstacles affecting the liquid nitrogen market.
•Competitive Landscape: Review strategic developments in the liquid nitrogen market, including expansions, agreements, and new product launches.
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