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The latest report by IMARC, titled “ Liquid Nitrogen Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 20222027
” the global liquid nitrogen market size reached US$ 17.1 Billion in 2021. Liquid nitrogen (LN) is an odorless, non-flammable, colorless, and non-corrosive cryogenic liquid that is used to cause rapid freezing. It is produced in air separation and liquefaction plants by compressing and cooling nitrogen gas below its evaporation point of − 196 °C (− 320 °F). Liquid nitrogen assists in the rapid cooling and temporary shrinking of mechanical gears and components during machine assembly, resulting in better intrusion fits. It is also used for cryopreservation of biological samples, such as sperm, eggs, animal genetic samples, and cryotherapy to remove skin abnormalities. Moreover, liquid nitrogen is utilized to freeze food and beverages and create an aesthetic cloud of vapor over dishes in fine-dine restaurants, cafes and hotels.
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The market is primarily driven by the escalating demand for cryogenic liquids for metal fabrication, and manufacturing of electronics, healthcare, automotive and lighting systems. This can be attributed to the rising usage of LN as a coolant during the grinding process to prevent additional heat generation, resulting in minimal corrosion and highquality, uniformly sized ice particles. Moreover, the market is favored by the increasing adoption of LN as an organic additive to develop generics, therapeutic medicines, and active pharmaceutical ingredients. Besides this, the growing food and beverage industry is also contributing to the market growth as LN is used to freeze bakery products, meat, poultry, fish, prepared meals, vegetables, and fruits while retaining their original color, scent, and flavor. Furthermore, the emergence of innovative LN-compatible automobile engines is anticipated to propel the market growth. Looking forward, IMARC Group expects the market to grow at a CAGR of 6.16% during 2022-2027.
Looking forward, the market value is projected to reach a strong growth during the forecast period (2022-2027).
Market Summary:
Breakup by Technology:
• Cryogenic Distillation
• Pressure Swing Adsorption
• Others
Breakup by Function:
• Coolant
• Refrigerant
Breakup by Storage Type:
• Cylinders and Packaged Gas
• Merchant Liquid/Bulk
• Tonnage
• Others
Breakup by End User:
• Chemicals and Pharmaceuticals
• Food and Beverage
• Healthcare
• Metal Manufacturing and Construction
• Rubber and Plastic
• Others
Breakup by Region:
• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil
• Mexico
• Others
• Middle East and Africa
Note: We are updating our reports, If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report.
Competitive Landscape with Key Players:
Air Products and Chemicals Inc.
AMCS Corporation
Asia Industrial Gases Pte. Ltd.
Cryomech Inc.
Gulf Cryo
Linde plc
Messer Group GmbH
Statebourne Cryogenics Ltd
• Taiyo Nippon Sanso Corporation (Mitsubishi Chemical Holdings Corporation) View
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