Steady Expansion Forecast for Liquid Nitrogen Market, Projected to Reach $25.91 Billion by 2029

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Liquid Nitrogen Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent times, the size of the liquid nitrogen market has seen significant expansion. The market value is anticipated to rise from $18.31 billion in 2024 to $19.47 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 6.3%. This growth during the historic period is the result of factors such as industrial refrigeration, cryopreservation, food freezing, medical applications, and metal processing.

Liquid Nitrogen Market Size Forecast: What's the Projected Valuation by 2029?
Predictions suggest substantial growth in the liquid nitrogen market in the coming years, with the market expected to reach $25.91 billion by 2029, recording a compound annual growth rate (CAGR) of 7.4%. This growth during the forecasted period is due to the development of emergent healthcare technologies, biotechnology and pharmaceutical sectors, cryogenic energy storage, space exploration, along with sustainable and eco-friendly technologies. Key trends projected to shape the market during this period encompass cryotherapy and aesthetic procedures, biobanking and biopreservation, cryogenic storage solutions, cryogenic cooling and rocket propulsion.

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What Are the Drivers Transforming the Liquid Nitrogen Market?
The liquid nitrogen market is projected to grow owing to an escalating demand from the healthcare sector. Renowned for supporting or enhancing physical, mental, or emotional wellbeing under the supervision of accredited healthcare professionals, the healthcare sector often utilizes liquid nitrogen. This substance is typically employed for removing warts, precancerous cells, and undesired skin, and in the field of cryogenics. It serves as a powerful cryogenic agent capable of instantly freezing living cells upon contact, especially for treatment of skin diseases. For instance, in September 2024, The Centers for Medicare and Medicaid Services, an American organization, reported that the National Health Expenditure (NHE) for 2022 witnessed a 4.1% rise, amounting to $4.5 trillion. This equates to $13,493 per individual, contributing to 17.3% of the total Gross Domestic Product (GDP). Consequently, the surging demand within the healthcare sector is expected to consistently fuel the expansion of the liquid nitrogen market throughout the projected timeline.

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What Long-Term Trends Will Define the Future of the Liquid Nitrogen Market?
Significant operators in the liquid nitrogen market concentrate on advancing liquid nitrogen (LN2) controlled-rate freezers to meet the evolving demands of industries like healthcare, food processing, and biotechnology, and to guarantee accuracy in temperature control during freezing. LN2 controlled-rate freezers are custom-designed devices that accurately regulate the cooling and freezing processes using liquid nitrogen. This tool is vital to organizations practicing cryopreservation, particularly those dealing with high-worth biological materials that need a stringent control while freezing prior to storage. For example, BioLife Solutions, Inc., an American biotechnology firm, in June 2023, introduced the IntelliRate i67C Liquid Nitrogen (LN2) Controlled-Rate Freezer, a liquid nitrogen controlled-rate freezer. The IntelliRate i67C has a chamber capacity of 67 liters (2.35 cu. ft.), 40% larger than other similar tabletop units, making for fewer runs, an easier setup and programming phase, and the optimization of LN2 supervision and energy needs.

Which Segments in the Liquid Nitrogen Market Offer the Most Profit Potential?
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 Firms Dominate the Liquid Nitrogen Market by Market Share and Revenue in 2025?
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.

Which Regions Offer the Highest Growth Potential in 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.

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