Liquid Nitrogen Market - Segmented by End-User Industry, Function, and Geography - Growth, Trends, and Forecast (2019 - 2024)

Liquid Nitrogen Market - Segmented by End-User Industry, Function, and Geography - Growth, Trends, and Forecast (2019 - 2024)

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The liquid nitrogen market is expected to register moderate growth during the forecast period (2018-2023). The major driving force for the market is the increasing demand in chemical industry, mainly in the Asia-Pacific region. It is also used in food & beverage, pharmaceuticals & biotechnology, healthcare, metal manufacturing, etc. in various applications.

Increasing Demand in Chemical Industry

Liquid nitrogen is used as coolant in freezing and transportation of chemicals and liquids in chemical industries. It is also used to freeze medicines and formulations, to cool reactors filled with catalyst during repair works and maintain the required cold reaction temperatures in pharmaceutical industries. It is also used in food & beverages industry in mechanical freezing systems like refrigeration units for preserving and transportation of food. With the increasing population, changes taking place in these industrial activities, resulting in the increasing consumption of liquid nitrogen. These driving factors will increase the market significantly during the forecast period.

Increasing Use in Healthcare Industry                                                           

Liquid nitrogen is a nitrogen in liquid state produced by the fractional distillation of air at low temperatures. It is a cryogenic fluid widely used in the healthcare industry for applications like cryosurgery, cryotherapy, etc. It is also used in many applications such as preserving and transportation of tissues, cells, blood platelets and in the cooling of magnets in magnetic resonance imaging. With the increasing developments in the healthcare industry, demand for liquid nitrogen is increasing and is expected to increase during the forecast period.

Asia-Pacific to Dominate the Market

North America accounted the largest market share of the global liquid nitrogen market followed by Asia-Pacific. Asia-Pacific is expected to have the fastest CAGR over the forecast period and is estimated to dominate the market after the forecast period owing to the fastest growth and with increase in expansion of technologies and population in the countries such as China and India. The usage of liquid nitrogen in the industries like chemical, pharmaceutical & biotechnology, food & beverages has increased in preserving and transportation of the goods in the region. Other industries like metal manufacturing, electronics, construction, etc. are also improving the quality by which the consumption of liquid nitrogen for these end-use application has been increasing gradually and is projected to increase significantly during the forecast period.

Notable Developments

  • March, 2017: BOC, a member of Linde Group installed CRYILINE MT 5-600 quick freezing tunnels and 8,000-litre liquid nitrogen vessels at Westerway Raspberry Farm, Australia. With this technology, the quality of the frozen berry increases when compared to the blast freezing.

Major players: Air Liquide, Air Products and Chemicals, Inc., Cryomech, Inc., Southern Industrial Gas Sdn Bhd, Statebourne Cryogenics Ltd, The Linde Group, etc. among others.

Reason to Purchase this Report

  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • To understand the dominating end-user industry in the market
  • Region and Country that are expected to witness the fastest growth during the forecast period
  • Identify the latest developments, market shares, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet (in Excel)

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1. Introduction                 

                1.1 Scope of the Report

                1.2 Market Definition    

                1.3 Study Assumptions 

                1.4 Study Deliverables  

                1.5 Research Phases      

2. Executive Summary                  

3. Market Insights                           

                3.1 Industry Value Chain Analysis             

                3.2 Industry Attractiveness- Porters Five Forces Analysis              

                                3.2.1 Bargaining Power of Suppliers

                                3.2.2 Bargaining Power of Consumers

                                3.2.3 Threat of New Entrants

                                3.2.4 Threat of Substitute Products and Services

                                3.2.5 Intensity of Competitive Rivalry

                3.3 Import & Export Trends        

                3.4 Price Trends               

                3.5 Technological Snapshot         

4. Market Dynamics                       

                4.1 Drivers          

                                4.1.1 Increasing Demand in Chemical Industry

                                4.1.2 Growing Food & Beverage Industry

                                4.1.3 Other Drivers

                4.2 Restraints    

                                4.2.1 Health Hazards Regarding Liquid Nitrogen Handling

                                4.2.2 Other Restraints

                4.3 Opportunities            

                                4.3.1 Growing Demand in Electronics Industry

                                4.3.2 Other Opportunities

5. Market Segmentation and Analysis (Market Size, Growth and Forecast)                          

                5.1 By End-User Industry             

                                5.1.1 Food & Beverage

                                5.1.2 Chemicals

                                5.1.3 Pharmaceuticals & Biotechnology

                                5.1.4 Healthcare

                                5.1.5 Metal Manufacturing

                                5.1.6 Others (Electronics, Rubber & Plastic, Construction, etc.)

                5.2 By Function

                                5.2.1 Coolant

                                5.2.2 Refrigerant

6. Regional Market Analysis (Market Size, Growth, and Forecast)                             

                6.1 Asia-Pacific 

                                6.1.1 China

                                6.1.2 India

                                6.1.3 Japan

                                6.1.4 South Korea

                                6.1.5 ASEAN Countries

                                6.1.6 Rest of Asia-Pacific

                6.2 North America          

                                6.2.1 United States

                                6.2.2 Canada

                                6.2.3 Mexico

                                6.2.4 Rest of North America

                6.3 Europe         

                                6.3.1 Germany

                                6.3.2 United Kingdom

                                6.3.3 Italy

                                6.3.4 Russia

                                6.3.5 Spain

                                6.3.6 France

                                6.3.7 Rest of Europe

                6.4 South America          

                                6.4.1 Brazil

                                6.4.2 Argentina

                                6.4.3 Rest of South America

                6.5 Middle-East & Africa               

                                6.5.1 Saudi Arabia

                                6.5.2 South Africa

                                6.5.3 Rest of Middle-East & Africa

7. Competitive Landscape                           

                7.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements     

                7.2 Market Share Analysis**      

                7.3 Strategies Adopted by Leading Players          

8. Company Profiles (Overview, Financials**, Products & Services and Recent Developments)                  

                8.1 Air Liquide   

                8.2 Air Products and Chemicals, Inc.        

                8.3 AMCS Corporation  

                8.4 Bombay Oxygen Corporation Ltd.     


                8.6 Cryomech, Inc.          

                8.7 Gulf Cryo     

                8.8 Liquid Nitrogen Plant              

                8.9 Praxair Technology, Inc.        

                8.10 Southern Industrial Gas Sdn Bhd    

                8.11 Statebourne Cryogenics Ltd              

                8.12 TAIYO NIPPON SANSO CORPORATION         

                8.13 The Linde Group    

                *List not exhaustive      

9. Disclaimer                      

**subject to availability on public domain                            

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