Product Code: PM1294
The global liquid nitrogen market size is expected to reach USD 27.07 billion by 2032, according to a new study by Polaris Market Research. The report "Liquid Nitrogen Market Share, Size, Trends, Industry Analysis Report, By Function (Refrigerant and Coolant); By Processing Technology; By End-Use; By Region; Segment Forecast, 2023 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
The demand for electronic products on a global scale has been a key element in market expansion. Also, the need for liquid nitrogen has increased due to the expanding healthcare sector. It is employed as a cryogen in cryotherapies, cryosurgeries, and cryopreservation because of its low-temperature capacity to destroy decaying tissues and remove skin tags, warts, verrucae, skin malignancies, and moles. One of the greatest options for combining two metals that cannot be welded, cemented, or soldered is liquid nitrogen shrink fitting.
The market is expected to grow over the next few years due to increasing demand from various application industries, including automotive, metals & fabricators, rubber & plastic, healthcare, electronics, construction, and food & beverages. Rapid industrialization, infrastructure development, and medical activities are projected to increase market growth.
Liquid removed from the nitrogen compression remains at a temperature nearby -320°F. The product has numerous applications in various industries, including pharmaceuticals, chemicals, ceramic and glass, petroleum processing, steelmaking, metal refining, paper & pulp manufacturing, and healthcare. Owing to its inertness and coldness, application segments of the product have been increasing in several end-use industries.
As liquid nitrogen is warmed and vaporized to ambient temperatures, it absorbs heat quantities, allowing the temperature level to come down quickly and instantly. The product's coldness and inertness make it the potential coolant for food freezing. Soft and heat-sensitive materials are also treated using liquid nitrogen at room temperature, which allows them to be fractured and machined. Examples include plastics, tires, pharmaceuticals, and even metals.
Liquid Nitrogen Market Report Highlights:
Coolant was predicted to increase moderately over the following years It is highly used in application areas where injection cooling, spray cooling, or immersion cooling is required.
The cryogenic distillation technology held the largest revenue share in the liquid nitrogen market. The most widely used technology to supply condensed contemporary gases due to its low startup cost and little utility usage.
The chemicals and pharmaceuticals segment is anticipated to develop the fastest since liquid nitrogen is used in the pharmaceutical sector for everything from packaging to fire suppression.
North America is anticipated to be the largest geographical sector with a projected CAGR. This area's rising number of suppliers and manufacturers will accelerate market expansion. The region with the fastest growth is Asia Pacific, which has room for expansion.
The global key market players include Taiyo Nippon Sanso Corporation, Nexair LLC, Emirates Industrial Gases Co. LLC, Southern Industrial Gas Berhad, Messer Group, Gulf Cryo, Air Products and Chemicals, Inc., Air Liquide S.A., Praxair Inc., and the linde group.
Polaris Market Research has segmented the Liquid Nitrogen market report based on function, processing technology, end-use, and region:
Liquid Nitrogen, Function Outlook (Revenue - USD Billion, 2019 - 2032)
Refrigerant
Coolant
Liquid Nitrogen, Processing Technology Outlook (Revenue - USD Billion, 2019 - 2032)
Pressure Swing Adsorption
Cryogenic Distillation
- Liquid Nitrogen, End-Use (Revenue - USD Billion, 2019 - 2032)
Food & Beverages
Healthcare
Metal Manufacturing & Construction
Chemicals & Pharmaceuticals
Rubber & Plastic
Others
Liquid Nitrogen, Regional Outlook (Revenue - USD Billion, 2019 - 2032)
North America
U.S.
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Latin America
Argentina
Brazil
Mexico
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Liquid Nitrogen Market Insights
- 4.1. Liquid Nitrogen Market - End Use Snapshot
- 4.2. Liquid Nitrogen Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Increasing demand from healthcare domain
- 4.2.1.2. Rising the usage of product
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Liquid nitrogen also has harmful impacts
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. Liquid Nitrogen Market End Use Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Liquid Nitrogen Market, by Function
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Liquid Nitrogen Market, by Function, 2019-2032 (USD Billion)
- 5.3. Refrigerant
- 5.3.1. Global Liquid Nitrogen Market, by Refrigerant, by Region, 2019-2032 (USD Billion)
- 5.4. Coolant
- 5.4.1. Global Liquid Nitrogen Market, by Coolant, by Region, 2019-2032 (USD Billion)
6. Global Liquid Nitrogen Market, by Processing Technology
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Liquid Nitrogen Market, by Processing Technology, 2019-2032 (USD Billion)
- 6.3. Pressure Swing Adsorption
- 6.3.1. Global Liquid Nitrogen Market, by Pressure Swing Adsorption, by Region, 2019-2032 (USD Billion)
- 6.4. Cryogenic Distillation
- 6.4.1. Global Liquid Nitrogen Market, by Cryogenic Distillation, by Region, 2019-2032 (USD Billion)
7. Global Liquid Nitrogen Market, by End Use
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Liquid Nitrogen Market, by End Use, 2019-2032 (USD Billion)
- 7.3. Food & Beverages
- 7.3.1. Global Liquid Nitrogen Market, by Food & Beverages, By Region, 2019-2032 (USD Billion)
- 7.4. Healthcare
- 7.4.1. Global Liquid Nitrogen Market, by Healthcare, By Region, 2019-2032 (USD Billion)
- 7.5. Metal Manufacturing & Construction
- 7.5.1. Global Liquid Nitrogen Market, by Metal Manufacturing & Construction, By Region, 2019-2032 (USD Billion)
- 7.6. Chemicals & Pharmaceuticals
- 7.6.1. Global Liquid Nitrogen Market, by Chemicals & Pharmaceuticals, By Region, 2019-2032 (USD Billion)
- 7.7. Rubber & Plastic
- 7.7.1. Global Liquid Nitrogen Market, by Rubber & Plastic, By Region, 2019-2032 (USD Billion)
- 7.8. Others
- 7.8.1. Global Liquid Nitrogen Market, by Others, By Region, 2019-2032 (USD Billion)
8. Global Liquid Nitrogen Market, by Geography
- 8.1. Key findings
- 8.2. Introduction
- 8.2.1. Liquid Nitrogen Market Assessment, By Geography, 2019-2032 (USD Billion)
- 8.3. Liquid Nitrogen Market - North America
- 8.3.1. North America: Liquid Nitrogen Market, by Function, 2019-2032 (USD Billion)
- 8.3.2. North America: Liquid Nitrogen Market, by End Use, 2019-2032 (USD Billion)
- 8.3.3. North America: Liquid Nitrogen Market, by Processing Technology, 2019-2032 (USD Billion)
- 8.3.4. Liquid Nitrogen Market - U.S.
- 8.3.4.1. U.S.: Liquid Nitrogen Market, by Function, 2019-2032 (USD Billion)
- 8.3.4.2. U.S.: Liquid Nitrogen Market, by End Use, 2019-2032 (USD Billion)
- 8.3.4.3. U.S.: Liquid Nitrogen Market, by Processing Technology, 2019-2032 (USD Billion)
- 8.3.5. Liquid Nitrogen Market - Canada
- 8.3.5.1. Canada: Liquid Nitrogen Market, by Function, 2019-2032 (USD Billion)
- 8.3.5.2. Canada.: Liquid Nitrogen Market, by End Use, 2019-2032 (USD Billion)
- 8.3.5.3. Canada: Liquid Nitrogen Market, by Processing Technology, 2019-2032 (USD Billion)
- 8.4. Liquid Nitrogen Market - Europe
- 8.4.1. Europe: Liquid Nitrogen Market, by Function, 2019-2032 (USD Billion)
- 8.4.2. Europe.: Liquid Nitrogen Market, by End Use, 2019-2032 (USD Billion)
- 8.4.3. Europe: Liquid Nitrogen Market, by Processing Technology, 2019-2032 (USD Billion)
- 8.4.4. Liquid Nitrogen Market - UK
- 8.4.4.1. UK: Liquid Nitrogen Market, by Function, 2019-2032 (USD Billion)
- 8.4.4.2. UK.: Liquid Nitrogen Market, by End Use, 2019-2032 (USD Billion)
- 8.4.4.3. UK: Liquid Nitrogen Market, by Processing Technology, 2019-2032 (USD Billion)
- 8.4.5. Liquid Nitrogen Market - France
- 8.4.5.1. France: Liquid Nitrogen Market, by Function, 2019-2032 (USD Billion)
- 8.4.5.2. France.: Liquid Nitrogen Market, by End Use, 2019-2032 (USD Billion)
- 8.4.5.3. France: Liquid Nitrogen Market, by Processing Technology, 2019-2032 (USD Billion)
- 8.4.6. Liquid Nitrogen Market - Germany
- 8.4.6.1. Germany: Liquid Nitrogen Market, by Function, 2019-2032 (USD Billion)
- 8.4.6.2. Germany.: Liquid Nitrogen Market, by End Use, 2019-2032 (USD Billion)
- 8.4.6.3. Germany: Liquid Nitrogen Market, by Processing Technology, 2019-2032 (USD Billion)
- 8.4.7. Liquid Nitrogen Market - Italy
- 8.4.7.1. Italy: Liquid Nitrogen Market, by Function, 2019-2032 (USD Billion)
- 8.4.7.2. Italy.: Liquid Nitrogen Market, by End Use, 2019-2032 (USD Billion)
- 8.4.7.3. Italy: Liquid Nitrogen Market, by Processing Technology, 2019-2032 (USD Billion)
- 8.4.8. Liquid Nitrogen Market - Spain
- 8.4.8.1. Spain: Liquid Nitrogen Market, by Function, 2019-2032 (USD Billion)
- 8.4.8.2. Spain.: Liquid Nitrogen Market, by End Use, 2019-2032 (USD Billion)
- 8.4.8.3. Spain: Liquid Nitrogen Market, by Processing Technology, 2019-2032 (USD Billion)
- 8.4.9. Liquid Nitrogen Market - Netherlands
- 8.4.9.1. Netherlands: Liquid Nitrogen Market, by Function, 2019-2032 (USD Billion)
- 8.4.9.2. Netherlands.: Liquid Nitrogen Market, by End Use, 2019-2032 (USD Billion)
- 8.4.9.3. Netherlands: Liquid Nitrogen Market, by Processing Technology, 2019-2032 (USD Billion)
- 8.4.10. Liquid Nitrogen Market - Russia
- 8.4.10.1. Russia: Liquid Nitrogen Market, by Function, 2019-2032 (USD Billion)
- 8.4.10.2. Russia.: Liquid Nitrogen Market, by End Use, 2019-2032 (USD Billion)
- 8.4.10.3. Russia: Liquid Nitrogen Market, by Processing Technology, 2019-2032 (USD Billion)
- 8.5. Liquid Nitrogen Market - Asia Pacific
- 8.5.1. Asia Pacific: Liquid Nitrogen Market, by Function, 2019-2032 (USD Billion)
- 8.5.2. Asia Pacific.: Liquid Nitrogen Market, by End Use, 2019-2032 (USD Billion)
- 8.5.3. Asia Pacific: Liquid Nitrogen Market, by Processing Technology, 2019-2032 (USD Billion)
- 8.5.4. Liquid Nitrogen Market - China
- 8.5.4.1. China: Liquid Nitrogen Market, by Function, 2019-2032 (USD Billion)
- 8.5.4.2. China.: Liquid Nitrogen Market, by End Use, 2019-2032 (USD Billion)
- 8.5.4.3. China: Liquid Nitrogen Market, by Processing Technology, 2019-2032 (USD Billion)
- 8.5.5. Liquid Nitrogen Market - India
- 8.5.5.1. India: Liquid Nitrogen Market, by Function, 2019-2032 (USD Billion)
- 8.5.5.2. India.: Liquid Nitrogen Market, by End Use, 2019-2032 (USD Billion)
- 8.5.5.3. India: Liquid Nitrogen Market, by Processing Technology, 2019-2032 (USD Billion)
- 8.5.6. Liquid Nitrogen Market - Malaysia
- 8.5.6.1. Malaysia: Liquid Nitrogen Market, by Function, 2019-2032 (USD Billion)
- 8.5.6.2. Malaysia.: Liquid Nitrogen Market, by End Use, 2019-2032 (USD Billion)
- 8.5.6.3. Malaysia: Liquid Nitrogen Market, by Processing Technology, 2019-2032 (USD Billion)
- 8.5.7. Liquid Nitrogen Market - Japan
- 8.5.7.1. Japan: Liquid Nitrogen Market, by Function, 2019-2032 (USD Billion)
- 8.5.7.2. Japan.: Liquid Nitrogen Market, by End Use, 2019-2032 (USD Billion)
- 8.5.7.3. Japan: Liquid Nitrogen Market, by Processing Technology, 2019-2032 (USD Billion)
- 8.5.8. Liquid Nitrogen Market - Indonesia
- 8.5.8.1. Indonesia: Liquid Nitrogen Market, by Function, 2019-2032 (USD Billion)
- 8.5.8.2. Indonesia.: Liquid Nitrogen Market, by End Use, 2019-2032 (USD Billion)
- 8.5.8.3. Indonesia: Liquid Nitrogen Market, by Processing Technology, 2019-2032 (USD Billion)
- 8.5.9. Liquid Nitrogen Market - South Korea
- 8.5.9.1. South Korea: Liquid Nitrogen Market, by Function, 2019-2032 (USD Billion)
- 8.5.9.2. South Korea.: Liquid Nitrogen Market, by End Use, 2019-2032 (USD Billion)
- 8.5.9.3. South Korea: Liquid Nitrogen Market, by Processing Technology, 2019-2032 (USD Billion)
- 8.6. Liquid Nitrogen Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Liquid Nitrogen Market, by Function, 2019-2032 (USD Billion)
- 8.6.2. Middle East & Africa.: Liquid Nitrogen Market, by End Use, 2019-2032 (USD Billion)
- 8.6.3. Middle East & Africa: Liquid Nitrogen Market, by Processing Technology, 2019-2032 (USD Billion)
- 8.6.4. Liquid Nitrogen Market - Saudi Arabia
- 8.6.4.1. Saudi Arabia: Liquid Nitrogen Market, by Function, 2019-2032 (USD Billion)
- 8.6.4.2. Saudi Arabia.: Liquid Nitrogen Market, by End Use, 2019-2032 (USD Billion)
- 8.6.4.3. Saudi Arabia: Liquid Nitrogen Market, by Processing Technology, 2019-2032 (USD Billion)
- 8.6.5. Liquid Nitrogen Market - UAE
- 8.6.5.1. UAE: Liquid Nitrogen Market, by Function, 2019-2032 (USD Billion)
- 8.6.5.2. UAE.: Liquid Nitrogen Market, by End Use, 2019-2032 (USD Billion)
- 8.6.5.3. UAE: Liquid Nitrogen Market, by Processing Technology, 2019-2032 (USD Billion)
- 8.6.6. Liquid Nitrogen Market - Israel
- 8.6.6.1. Israel: Liquid Nitrogen Market, by Function, 2019-2032 (USD Billion)
- 8.6.6.2. Israel.: Liquid Nitrogen Market, by End Use, 2019-2032 (USD Billion)
- 8.6.6.3. Israel: Liquid Nitrogen Market, by Processing Technology, 2019-2032 (USD Billion)
- 8.6.7. Liquid Nitrogen Market - South Africa
- 8.6.7.1. South Africa: Liquid Nitrogen Market, by Function, 2019-2032 (USD Billion)
- 8.6.7.2. South Africa.: Liquid Nitrogen Market, by End Use, 2019-2032 (USD Billion)
- 8.6.7.3. South Africa: Liquid Nitrogen Market, by Processing Technology, 2019-2032 (USD Billion)
- 8.7. Liquid Nitrogen Market - Latin America
- 8.7.1. Latin America: Liquid Nitrogen Market, by Function, 2019-2032 (USD Billion)
- 8.7.2. Latin America.: Liquid Nitrogen Market, by End Use, 2019-2032 (USD Billion)
- 8.7.3. Latin America: Liquid Nitrogen Market, by Processing Technology, 2019-2032 (USD Billion)
- 8.7.4. Liquid Nitrogen Market - Mexico
- 8.7.4.1. Mexico: Liquid Nitrogen Market, by Function, 2019-2032 (USD Billion)
- 8.7.4.2. Mexico.: Liquid Nitrogen Market, by End Use, 2019-2032 (USD Billion)
- 8.7.4.3. Mexico: Liquid Nitrogen Market, by Processing Technology, 2019-2032 (USD Billion)
- 8.7.5. Liquid Nitrogen Market - Brazil
- 8.7.5.1. Brazil: Liquid Nitrogen Market, by Function, 2019-2032 (USD Billion)
- 8.7.5.2. Brazil.: Liquid Nitrogen Market, by End Use, 2019-2032 (USD Billion)
- 8.7.5.3. Brazil: Liquid Nitrogen Market, by Processing Technology, 2019-2032 (USD Billion)
- 8.7.6. Liquid Nitrogen Market - Argentina
- 8.7.6.1. Argentina: Liquid Nitrogen Market, by Function, 2019-2032 (USD Billion)
- 8.7.6.2. Argentina.: Liquid Nitrogen Market, by End Use, 2019-2032 (USD Billion)
- 8.7.6.3. Argentina: Liquid Nitrogen Market, by Processing Technology, 2019-2032 (USD Billion)
9. Competitive Landscape
- 9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
- 9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
- 10.1. Nexair LLC
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
- 10.2. Taiyo Nippon Sanso Corporation
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
- 10.3. Emirates Industrial Gases Co. LLC
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
- 10.4. Messer Group
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
- 10.5. Southern Industrial Gas Berhad
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
- 10.6. Gulf Cryo
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
- 10.7. Air Products and Chemicals, Inc
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
- 10.8. Air Liquide S.A
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
- 10.9. Praxair Inc
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
- 10.10. linde group
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development