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Liquid Nitrogen Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
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COVID-19
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Liquid Nitrogen Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
Request Now !Liquid Nitrogen Market Statistics - 2027
Nitrogen is a diatomic element found in the atmosphere and is present in the gaseous stated normal temperature. Liquid nitrogen is a cryogenic liquid as nitrogen is liquified at a very low temperature at about negative 196 degrees Celsius or negative 320 degrees Fahrenheit. Liquid nitrogen is colorless, order less, nonflammable liquid, and is prepared by a process known as pressure swing absorption. Liquid nitrogen has a wide area of applications including cooling agent.
Market scope and structure analysis:
Report Metric | Details |
Market size available for years | 2019–2027 |
Base year considered | 2019 |
Forecast period | 2020–2027 |
Forecast units | Value (USD) |
Segments covered | Manufacturing Process, Application, Industry Vertical, and Region |
Geographies covered | North America (U.S. and Canada), Europe (Germany, UK, France, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of LATAM) and Middle East and Africa (Saudi Arabia, UAE, Kuwait, South Africa, and Rest of MEA) |
Companies covered | Air Products and Chemicals Inc., Messer Group, The Linde Group, Gulf Cryo, Air Liquide, Cryomech Inc. Taiyo Nippon Sanso Corporation, Praxair Inc., AMCS Corporation, Statebourne Cryogenics, and Asia Industrial Gases Pte. Ltd. |
COVID-19 scenario analysis:
The outbreak of the COVID-19 has impacted the global liquid nitrogen market in a mixed way.
- Due to the outbreak of the global pandemic the demand for packaged food decreased significantly as most of the consumers were staying indoors. As a result the demand for liquid nitrogen as a preservative and cooling agent in the food & beverage industries decreased thereby affecting the global market.
- Amidst the pandemic, the demand from the medical sector increased drastically. This is caused an increase in usage of liquid nitrogen in the medical industry and has acted as a major driver for the growth of the liquid nitrogen market.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
A primary driving factor responsible for the growth of the global liquid nitrogen market is its extensive use as a cooling agent in different end-use industries such as the food & beverages and the pharmaceutical industries. With the rapid modernization, the popularity for packaged food has increased significantly and there is a growing concern about food preservation. Liquid nitrogen being chemically inert plays an important role in cooling and freezing the food products and thereby increasing their shelf life. Moreover, liquid nitrogen is also extensively used in the medical and health care sector for treating several skin problems. Liquid nitrogen is the mostly sold as an inorganic chemical and the demand for liquid nitrogen is expected to increase during the forecast period owing to its wide range of applications. However, elongated use of liquid nitrogen might cause several health issues including vomiting, nausea, loss of consciousness, and others limit the market growth.
In terms of market size, the North America region holds the largest share of the global liquid nitrogen market due to the increase in demand for liquid nitrogen in the pharmaceutical sector and also for cooling applications in the region. The market in the Asia-Pacific region is also expected to grow at a significant pace with the rapid growth in the health care industry in the region.
Key segments covered:
Segments | Sub-segments |
Manufacturing Process | • Cryogenic distillation • Pressure swing adsorption |
Application | • Coolant • Refrigerant |
Industry Vertical | • Chemicals & pharmaceuticals • Food & beverage • Healthcare • Metal manufacturing & construction • Rubber & Plastic • Others |
Key benefits of the report:
- This study presents the analytical depiction of the global liquid nitrogen industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global liquid nitrogen market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global liquid nitrogen market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global liquid nitrogen market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Liquid Nitrogen Market research report:
- What are the leading market players active in the liquid nitrogen market?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
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