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Jan 31, 2024

Liquid Nitrogen Global Market Report 2023

Major players in the liquid nitrogen market are Air Products and Chemicals Inc.,

Major players in the liquid nitrogen market are Air Products and Chemicals Inc., Linde PLC., Praxair Technology Inc., NEXAIR, Statebourne Cryogenics, Taiyo Nippon Sanso Corporation, Gulf Cryo, Emirates Industrial Gases Co.

New York, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Liquid Nitrogen Global Market Report 2023" - https://www.reportlinker.com/p06424021/?utm_source=GNW LLC., Southern Industrial San Bhd, Universal Industrial Gases Inc., Yingde Gases Group, Messer Group, and AMCS Corporation.The global liquid nitrogen market grew from $16.3 billion in 2022 to $17.55 billion in 2023 at a compound annual growth rate (CAGR) of 7.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The liquid nitrogen market is expected to grow to $22.06 billion in 2027 at a CAGR of 5.9%.The liquid nitrogen market consists of sales of liquid nitrogen manufactured through pressure swing desorption, membrane nitrogen generation, and fractional distillation.The market value includes the value of related goods sold by the service provider or included within the service offering.Only goods and services traded between entities or sold to end consumers are included.Liquid nitrogen is a form of the element nitrogen that is cold enough to exist in a liquid state and is used for cooling and cryogenic applications. Under high pressure, nitrogen becomes liquid nitrogen, a cryogenic liquid with a boiling point of -320.5 °F (-195.8 °C). The temperature of liquid nitrogen (LN), an inert cryogenic fluid, is 196 °C (320 °F), which is directly injected by lances into the batch water storage tank, the aggregate, or the mixer. Liquid nitrogen can be kept in the batch plant or on the project site, and if utilized there, it allows for more precise temperature control and repeated cooling of the concrete. Liquid nitrogen is used for freezing and transporting food products.North America was the largest region in the liquid nitrogen market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.The regions covered in the liquid nitrogen market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main manufacturing processes in liquid nitrogen include cryogenic distillation, pressure swing adsorption, and others.Cryogenic distillation is used in the chemical industry.Cryogenic distillation is the process in which nitrogen and oxygen are separated from the air. The different functions include coolant and refrigerant and involve several industry verticals such as chemicals and pharmaceuticals, food and beverage, healthcare, metal manufacturing and construction, rubber and plastic, and others.The increasing demand from the healthcare domain is expected to propel the growth of the liquid nitrogen market going forward.The healthcare domain helps in maintaining or restoring physical, mental, or emotional well-being by licensed healthcare professionals.Liquid nitrogen is mainly used in the healthcare domain for the removal of warts, precancerous cells, unwanted skin, and cryogenics.Liquid nitrogen is commonly used as a cryogenic liquid for the removal of diseased skin and is capable of fast freezing while contacting living cells.For instance, according to BlackRock Inc., a US-based investment management corporation, in 2021, the global healthcare sector highlighted positive growth and returned +19.8%. Therefore, the increasing demand from the healthcare domain will continue to drive the liquid nitrogen market during the forecast period.Product innovations are the key trends gaining popularity in the liquid nitrogen market.Major companies operating in the liquid nitrogen market are focused on developing new and innovative products to strengthen their market position.For instance, in July 2021, Scientific Laboratory Supplies, a UK-based supplier of chemicals, equipment, and consumables for laboratory use, launched a new line of SLS Lab Pro gas and liquid nitrogen generators that use the pressure swing adsorption technology to separate oxygen, nitrogen, and water to produce high-quality air and nitrogen gases. The liquid nitrogen generator uses this technique to create nitrogen gas that is liquefied using a powerful cooling system.In April 2022, Air Products, a US-based chemicals company, acquired Air Liquide's industrial gases business in the UAE and Bahrain for an undisclosed amount.Through this acquisition, Air Products aims to expand into the Middle Eastern markets.Air Liquide is a France-based industrial gas company that provides liquid and gaseous nitrogen.The countries covered in the liquid nitrogen market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The liquid nitrogen market research report is one of a series of new reports that provides liquid nitrogen market statistics, including liquid nitrogen industry global market size, regional shares, competitors with a liquid nitrogen market share, detailed liquid nitrogen market segments, market trends and opportunities, and any further data you may need to thrive in the liquid nitrogen industry. This liquid nitrogen market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.Read the full report: https://www.reportlinker.com/p06424021/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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