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Liquid Nitrogen Market Share, Trend, Segmentation and Forecast to 2025

Globally, increasing consumption of electronic goods has been a major factor driving the market growth. In addition, growing healthcare industry has led to increase in demand for liquid nitrogen.

The Global Liquid Nitrogen Market is expected to reach USD 21.3 billion by 2025, according to a new report by Grand View Research, Inc.


Due to its low temperature property it is used as a cryogen in cryotherapies, cryosurgeries, and cryopreservation to remove skin tags, warts, verrucae, skin cancers, and moles in addition to demolishing the decayed tissues. Liquid nitrogen shrink fitting solutions are one of the best fitted solutions for joining of two metals which cannot be welded, cemented or soldered.

Rising demand in various application sectors including automotive, metals & fabrication, rubber & plastic, healthcare, electronics, construction, and food & beverages is projected to propel the market over the coming years. Rapid industrialization, infrastructural, and medical activities is anticipated to augment the market growth from 2017 to 2025.

Coolant function was projected to be the largest segment over the forecast period with a market share of 61.1% in terms of revenue in 2016. It is used in large number of applications to maintain low temperature such as food & beverages, electronics, chemicals, storage medium, healthcare, and metal fabrication to maintain low temperatures.

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North America is expected to observe the biggest regional segment over the next eight years with an estimated CAGR of around 5.4% from 2017 to 2025.Increasing number of manufacturers and suppliers in this region is anticipated to spur the market growth. Asia Pacific is the fastest growing segment with potential growth opportunites. This region is expecting the rise in demand from industries such as metal manufacturing & fabrication, construction, food & beverage, and chemicals & pharmaceutical.

Top Players of Liquid Nitrogen Market:

Key players including, The Linde Group, Praxair Inc., Air Liquide S.A. and Air Products & Chemicals dominated the global liquid nitrogen market while accounting formajor share of the total volume in 2016.

Market Segmentation of Liquid Nitrogen Market:

The Global Liquid Nitrogen Market segmented on the basis of Technology, Function, Storage and End-Use.

By Technology:

    Cryogenic Distillation
    Pressure Swing Adsorption

By Function Storage:

    Coolant
    Refrigerant

By Storage:

    Cylinders & packaged gas
    Merchant liquid/ Bulk
    Tonnage

By End-Use:

    Chemicals & pharmaceuticals
    Healthcare
    Food & beverages
    Metal manufacturing & construction
    Rubber & plastic

Inquire about Liquid Nitrogen Market with Our Experts @ https://www.grandviewresearch.com/inquiry/4119
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